Florida Homeowners Insurance Terms: Agent

Agent: What Does An Insurance Agent do? Most of the time, an insurance agent, sometimes known aa an insurance broker, is a local representative, or remote individual that represents a variety of insurance carriers. A true insurance agency or property and casualty agent must be licensed by a state insurance commissioner before they can legally speak or sell insurance contracts to the general public. In most instances, an insurance agent is known to be the local 'smile' of multiple insurance companies, but in some rare cases an agent can be captive and only work with one specific carrier.

Broker: What else do these guys do? The majority of consumers wanting to buy insurance coverage for financial risk will deal with a local insurance agent rather than the company direct. They are able to show all of the product options available with the various cmopanies. You will often see that an insurance agent's compensation is based on a percentage of a premiucm, and will most likely be a 'one stop shop' for all a consumers insurance needs. An insurance agent can sell florida homeowners insurance, auto insurance, individual health insurance policies, life or an umbrella covering you with all lines of coverage. What else do they help you with?

  • Servicing of all your insurance policies
  • Changing coverage limits for any needs that might change
  • Keep you informed of any new products offered in the marketplace
  • Offering advice on which products are neccessary for your family

Homeowners Insurance clients are required to pay monthly bills called premiums payments to the insurance carriers, which means an insurance agents duty is to make sure consumers are compliant. They usually send out premium reminders for late payments or check in with clients if the carriers rates go up. A quality insurance agent must also keep in touch with clients to make sure needs haven't changed. Good service of an agent is a must. If your agent can't get back to you with 48 hours, you might want to find a replacement.

Probably the most important part of an insurance agent's duty happens during a real life insurance claim. After a car accident, hurricane, or a major surgery, it is a must that clients contact their local insurance agent or broker asap. Insurance claims for real benefits must be processed with an agent in most instances who can make sure the claim gets paid properly. The insurance agent most of the time acts as the arbitrator between the consumer and the contracted insurance company. Your agent knows the system, so take the help next time a claim rolls in.