You have two choices: exclusive agents, known as direct writers, and independent brokers like KDIB. A direct writer sells policies for the insurance company it exclusively represents; where as an independent broker represents many insurance companies.
Answer the following questions
- How are you treated when you call the agency? Are its employees courteous and responsive? Does the agency quickly answer your requests for information?
- What steps does the agency take to deliver insurance quotes quickly? What does the agency do to help ensure efficient claim handling?
- Is the agency new to the scene? How experienced are the representatives who will handle your account? How long have they been at that agency? Has the agency representative ever worked with companies like yours? Is the agency representative familiar with your exposures and unique insurance needs?
- Which insurance companies does the agency represent? What are the financial ratings of these companies?
- Does the agency protect itself from errors and omissions with liability coverage? Who is its insurance carrier?
- Is the agency willing to provide references?
- Does the agency specialize in your industry? Does its representative understand your business and its unique requirements?
This checklist may help you evaluate any insurance company you may be considering. Use this checklist as a guideline for making your choice.
- Live receptionist answers the phone to help direct my call
- Licensed brokers take the time to understand my individual insurance needs and are available by phone, fax, e-mail or voicemail
- An experienced, licensed broker explains coverage and offers options for me to consider
- My own personal insurance broker will be available to answer my questions
- Phone calls are returned within one business day
- Comprehensive proposals are provided that compare my current coverage to the recommended quote
- Agency is affiliated with at least 10 companies to source multiple quotes
- Agency is only affiliated with companies that receive preferred ratings from the independent A.M. Best Rating Service
- Agency is able to consolidate all my insurance needs for even greater savings
- Broker works for me, not the insurance company
- Will act as my advocate with the insurance company
- Will personally guide me through the process
- Will ease the red tape
- Will place me with a company that provides fair and equitable settlements