What You Should Know When Choosing an Insurance Provider

Whether it is for your personal or business needs, choosing an insurance provider is a decision that most people will need to make at some point or another. There are many options for purchasing insurance in Lancaster PA, and as you begin the process of making a decision, here are a few things to keep in mind.

Generally, there are two types of agents that can aid you in this process. These include captive agents and independent agents. Understanding the differences between the two could be very beneficial if your ultimate goal is to choose an insurance policy that meets offers optimal coverage while meeting your financial needs as well.

Captive agents typically represent one insurance company. Their job is to sell you a policy from one particular company. These agents may work as a full time employee for the company, or as a contractor. As these agents specialize in a single company, they know everything about that company’s products inside and out. They are able to provide specific details in order to answer any questions you may have.

When going through a captive agent, you will need to do a few things on your own:

1. Research

A simple online search can provide you with ratings and reviews that will give you a sense of the policy provider’s quality.


2. Consider the Insurer’s Financial Strength

It is important that you can depend on the company that you choose. Do not be afraid to ask for a copy of the insurance company’s financial statement so that you are able to see record of their financial stability.

3. Licensed

Make sure that the company you are considering to choose is licensed in your particular state of residence. Choosing a company with legal accreditation is a good idea as well. This ensures that they will stick to policies and guidelines that are essential to a quality insurance plan.

4. Price

Make sure that you understand your policy options in order to choose a policy that is right for you, at a price that is right for you. Inquire to your potential insurance provider about possible discounts.

5. Service

Make sure that your agent is working to serve you, and has your best interest in mind. You will undoubtedly come across those that are disinterested in your personal needs and are only looking to sell you a policy, solely because they are trying to make money. Does the company you are considering have quality customer service? How responsive and timely are they to questions? Not only are these important considerations when you are choosing a company, but also during a time in which you may have to file a claim. You want an agent that is working to meet your needs.

If you would rather seek professional council when choosing an insurance policy, consider an Independent agent. Opposite of a captive agent, Independent agents do not represent one specific company. Instead they are able to offer a customer a wide variety of options as they sell insurance plans from multiple providers. However, these agents may not be able to offer as many details about a particular company. Rather their job is to understand your needs and the best way to satisfy them. Independent agents exist to serve you.

As you begin your quest for an insurance company, you will find that you have a wide variety of options. Keeping these things in mind will aid in determining the company, and ultimately the policy that best suits you.