The "Legal-Ease" Glossary
Insurance Agent / Broker

This refers to the professionals who sell insurance policies. Insurance agents or brokers don’t actually provide the insurance, though. That domain belongs to insurance providers.

Not all insurance agents are cut from the same cloth. Some only sell personal lines (e.g., homeowner’s insurance or personal auto insurance). Others, like the agents at Insureon, sell commercial insurance. And the distinctions don’t end there. Some commercial insurance agents sell insurance for big corporations, while others specialize in insurance for small businesses.

When you buy insurance online, you’ll likely work with one of two types of agents:

• A captive agent. This is an insurance agent who only sells policies from the insurance company they work for.
• An independent insurance agent. These agents (like the ones at insureon) sell policies from a variety of insurance companies. Usually, this kind of flexibility allows the agent to find better prices for their clients because they have more options to choose from.

It’s important to find an agent you can trust with your business – one who understands small businesses and your industry. After all, they will advise you about the liabilities you could face and which policies can address those risks. You don’t want to be left underinsured if the time comes for you to draw on your coverage.

Finally, be sure to choose an agent who works with top-rated insurance carriers. This gives your agent access to industry-specific policies. Plus, it assures you that the providers that issue your policies are financially solvent.

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