Would you buy insurance from.......
When it comes to your insurance, does it matter if the agent is captive to one company or one that represents multiple companies?
Captive Agent: Works solely for one insurance company (Allstate, State Farm, Farmers)
Independent Agent: Represents multiple insurance companies
Lets say that you are currently insured with Allstate and have been for the past 10 years. Allstate decided to raise there homeowners insurance by 30% this year. Last year you paid $800.00 for your homeowners insurance, this year it will cost you $1040.00.
Question:
1. Will you shop around for a lower rate or are you loyal to Allstate?
2. If an independent agent was able to save you $400.00/year would you switch companies?
3. What is the main reason that you would switch insurance providers?
4. Which agent would you prefer? (Captive agent or Independent agent)
5. Which agent do you think is looking out for your best interests? (Captive agent or Independent agent)
Captive Agent: Works solely for one insurance company (Allstate, State Farm, Farmers)
Independent Agent: Represents multiple insurance companies
Lets say that you are currently insured with Allstate and have been for the past 10 years. Allstate decided to raise there homeowners insurance by 30% this year. Last year you paid $800.00 for your homeowners insurance, this year it will cost you $1040.00.
Question:
1. Will you shop around for a lower rate or are you loyal to Allstate?
2. If an independent agent was able to save you $400.00/year would you switch companies?
3. What is the main reason that you would switch insurance providers?
4. Which agent would you prefer? (Captive agent or Independent agent)
5. Which agent do you think is looking out for your best interests? (Captive agent or Independent agent)
Question 1: Yes, I would shop around to find the lower rate.
Question 2: I might but it would depend on what they were offering and if they were going to meet all my needs.
Question 3:The main reason for switching would be one to save money but it would really depend on the type of customer care I was getting from my agent. If my agent was an excellent agent then I would see what my agent would be able to do for me before doing anything.
Question 4: I think I would prefer the Captive Agent because I would feel like the Independent agent might try and push me to do things I might not need or want.
Question 5: I am not sure which agent would be looking out for my best interest. I would like to say the captive but then, which goes against what I just said in the last question the Independent agent might be able to offer more. I say that because they are working with more then one company. SO, I guess it would depend on the person I am working with.
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