Make your microsite tailored for insurance brokers

Complaints While youʼre checking whether the agent and the company are licensed, also check to see if theyʼve had complaints filed against them. For the company, you can check the NAICʼs CIS, call your state insurance department or contact the Better Business Bureau.

There are a few potential disadvantages of insurance brokers you may want to be aware of. An insurance broker typically doesnʼt know all the policy details for every policy type and insurance company.

There is no constant winner between buying insurance from a broker or direct for all situations. Some customers may decide that the best option for them is a combination of working with an agent and then making their final decision by purchasing a policy online.

When evaluating your options, consider these things: Licensing Make sure the agent and insurance company are licensed in your state. Credentials Many agents and brokers will have letters behind their names on their business cards.

Commissions: This is the primary way most insurance brokers earn money. When a client purchases or renews an insurance policy, brokers receive a commission from the insurance company. The amount is a percentage of the policyʼs premium.

An insurance broker represents consumers in their search for coverage and can sell policies from several different insurance companies for a commission. Unlike captive and independent agents, who represent one or more insurance companies, a brokerʼs primary duty is to the client.

Insurance Broker Commissions The cost is not passed onto you. You usually pay the same price for coverage whether you go through a broker or buy a policy on your own. Though you donʼt save money going with a broker, the person can track down quotes and answer insurance-related questions.