Insurance agent versus broker – differences.

Posted: September 9th, 2013 | Author: | Clothes, Money

Insurance is mainly dealt by the representatives of one of the two professions. These are insurance agents and insurance brokers. There are some differences between them, and it is worth it to know before making a decision in insurance choice.

Brandon Christopher Warren / photo on flickr

Brandon Christopher Warren / photo on flickr

Both of these jobs have the status of an insurance agent and deal with preparation and signing of the contract, etc. Both professionals shall be authorized to carry out the activities by the same body or the Financial Supervision Commission. Note also that an insurance agent cannot lead its brokerage business and vice versa. But what exactly is the difference between them?

In short, the insurance agent is a representative of the insurance company. He meets with the client and shows him products that the company offers. Customer can like it or not, but the agent has only the possibility of delicate negotiations. The broker is in fact a representative of the customer. He meets with him, knows his needs, and presents him negotiated deals with various insurance companies, thus offering a much wider range of products and gives us quite a selection. From the above description shows that much better to use the services of a broker. However, its not always the case. Brokers take care of contracts for large amounts, but smaller policies for household are not as cost-effective and much better conditions can be obtained from the agent. It does not hurt to try and see what can offer us a broker.

 

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