Insurance Brokers Are Free
If financial concerns are keeping you from making an appointment with an insurance broker, you can relax. You don't pay for the broker. One of the terrific benefits to engaging the services of an insurance broker is the price: FREE. Independent insurance brokers most often work on commission, and this fee is paid for by the insurance company that is ultimately chosen by the broker's client. You don't have to pay them a thing! Just pick the best option for you and the broker will take care of it.
Can you trust a broker if you aren't paying them? Yes, you can. All insurance brokers are state licensed and regulated. But the most significant trust regulator is you. Brokers rely heavily on word-of-mouth recommendations and good references. Your broker's financial success and honesty come from finding the perfect insurance company to fit your needs. Your broker's first priority is always your satisfaction with his or her all around service.
Why is a broker free to me? A broker who frequently brings clients to an insurance company for quotes and then for insurance contracts, can ask for lower quotes for their clients on the assurance that they will continue to bring clients to that company. Once the insurance company and the broker have established a reliable working relationship, the company is then willing to bring the prices on some plans down to keep the flow of customers coming in. The insurance company pays the broker's fee as a reward for bringing in a new customer. You benefit by getting the lowest possible rate on your insurance plan.
The beauty of working with an independent broker is in the variety of insurance companies a good broker maintains connections with. Having working relationships with so many different insurers means that your broker has a large variety of options to consider in the search to find the perfect insurance plan for your needs.