Independent Insurance Agency
An independent insurance agency. Let’s break it down into sections.
Independent. The independent part means separate, in insurance, this can mean different things but mostly they are separate from the actual insurance carriers that provide the product. They represent themselves.
Insurance. Insurance is the act of paying into something in order to protect against something unknown.
Agency. An agency in general is a organization that is established to focus on providing a specific service.
So an Independent Insurance Agency is basically an organization that acts independently which sells insurance.
Is a Independent Insurance Agency Different From An Independent Insurance Brokerage?
Because the word “independent” is used in the beginning of each phrase, there actually isn’t too much difference in the meaning.
Both have the ability to get appointments to the exact same independent carriers.
But if you want to get down to the technical definition, when it comes to representing on the behalf of, insurance agencies actually represent the carrier.
Insurance brokerages represent the person.
If someone calls themselves an independent insurance agency or agent and the clear cut definition is that an insurance agent or agency works for the carrier only and only on behalf of the carrier, do not over think it or sweat it too much!
At Insurance Broker Resources let us represent you! We try to get you the best rates so you can save money on your insurance policies.
