Insurance with Infiniti Episode 7: 🛡️What's An Insurance Broker?

Insurance agent vs. broker: What’s the difference?

Insurance agents and brokers are professionals who sell insurance. They may choose to specialize in a certain area, such as life which protects the isured's family against financial loss associated with your death.

Both agents and brokers are licensed in the state where they operate and must comply with all governing statutes and regulations.

Regardless of which option you choose, agents and brokers are obligated to act in good faith in helping you find the best policy for your needs.

An insurance agent represents one or more insurance companies and sells their policies for a commission. They can either work full-time at insurance sales for an agency, or as independent contractors. Their job is to represent the insurance company in the transaction while also helping customers find the right coverage.

There are two types of insurance agents:

Captive agents typically represent only one specific insurance company.
Independent insurance agents typically represent more than one insurer.

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 broker’s primary duty is to the client.

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