Seven Things Every Group Should Know Before Choosing an Agent

1. Like fingerprints, no two agents are alike. Every agent specializes in certain aspects of the insurance industry, based on their personal background and experience. It’s vital that you choose the agent that best represents the products that fit your circumstances.


2. Price is the easy answer. You might be quick to choose your agent or carrier based on price alone. While budgets are one of the most important factors, you should make certain to consider quality and the long term effects of your decision. As the saying goes “Be careful, you might just get what you pay for!”


3. Work with someone you like and trust. The more comfortable you feel with your agent, the better your insurance buying experience. And, the less you know about insurance, the more important your relationship with an experienced and knowledgeable agent becomes. If you are working with qualified agents, chances are they are all proposing similar insurance carriers. Make certain you are working with an agent who will “stand in the gap” for you and your employees. Insurance is a commodity, service is the value added.


4. Make sure your agent is accessible. How many times have you purchased a product, only to find the salesperson “disappears” after the check has been sent? Your agent will receive monthly compensation from the insurance carrier, intended to provide them with the means to service your group. Don’t allow your employees to be pawned off on an 800 number, only to be lost in a voicemail system forever. Make sure your agent works to earn their keep. If they don’t, find someone who will!


5. You may think you know what you want, but be open to recommendations. Your agent should bring to the table many years of experience with just your type of product. A qualified agent will ask relevant questions about issues that will be unique to your situation, and work to design a plan that fits your circumstances.


6. Learn about the insurance industry. As with any profession, you will undoubtedly encounter a seemingly foreign language when purchasing insurance. While certain terms may be repeated by multiple carriers, they can mean many different things. If you don’t understand, ask. Your agent should be able to identify the key differences in the carriers they represent.


7. Mistakes are inevitable, how they’re handled is what matters. Insurance carriers employ thousands of clerical staff, and many different “hands” will undoubtedly touch your product. That often translates to mistakes. A qualified agent should be able and willing, to help your employees when those circumstances arise.