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Are all insurance agencies alike?

Posted April 10, 2013 in Advice Column, Norwalk

To get the best deal on insurance, many people consult and insurance agent or broker. Did you know that there are different kinds of insurance agents and brokers — and the one you choose can make a big difference in the type of service you get and the choices you’re offered? Here’s the difference:

Captive agents and brokers. Captive agents work with a specific insurance company, and as part of their business agreement with that company, they can offer company’s insurance products. That can put the captives at a competitive disadvantage as they only offer their company’s products.

Independent agents and brokers. Independent agents and brokers can offer products from many insurance companies. This helps them better serve your interests, as they can review multiple options to find a policy and rate that is right for you. Insurance rates vary from company to company. Independent agents can put together a customized insurance plan.

If you’re ready to contact an independent agent to talk about saving money on car insurance, here are a few things to consider:
• Has your life situations changed recently? Many factors determine auto insurance rates, not just vehicle year, make, model and body type. If you’ve recently moved, gotten married, had a birthdate or experienced a similar life milestone, mention this to an independent agent. You may be eligible to save money on your car insurance.
• Is your car getting older? You don’t always need the same level of physical damage coverage on older cars as on newer ones. Lane Insurance helps you determine the value of the vehicle and when to consider reducing coverage.
• Do you have another type of vehicle that also needs coverage? If you have a motorcycle, boat or RV, you might save money by having it covered by the same company that insures your auto and home.

Another plus to working with an independent agent is his or her ability to offer guidance for all your insurance needs — auto, home, life, health, business and more. We can customize a package of policies just for you.

At Lane Insurance, we represent many A+ rated companies that offer extremely competitive rates such as IMT, Met Life, Allied, EMC, Auto Owners, Safeco, State Auto, Wellmark, Nationwide Life and Progressive. We are able to shop  your rates within our agency for both new business and renewals, to insure you are getting the best rates available.

Information provided by Mike Lane, Lane Insurance Agency, Inc., 1225 Sunset Drive, (800) 244-4608.

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