Most people never realize that there is a difference between an insurance agency and an insurance broker. An insurance agency is somewhat analogous to a car dealership that only sells one particular brand. If you go into a Ford dealership, you are going to hear all about what wonderful vehicles Ford makes but not a word about whether you might be able to buy a Chevrolet for less. You are also not going to hear anything about whether one make or the other is best suited to your needs. This is where the insurance broker comes in.

Instead of just touting the wonders of one specific insurance company and trying to sell you whatever policy they offer which may come closest to meeting your actual needs, a broker can choose from a wide range of insurance providers and find the best way of providing you with the most perfect fit. Insurance companies are not all created equal. Some of them do certain things very well and cover other lines of business either okay or not at all. If you are doing business with an agent who only carries a single line of insurance, you are likely to find yourself making compromises or paying more than you had anticipated.

Suppose that the company you have always done business with in the past is confronted with significant losses in some other part of the country due to a natural disaster. Their premiums will have to rise all across the country to make that loss good. Now consider a company that does no business in that part of the country and therefore has no exposure to these catastrophic losses. Which one of them is going to offer you better terms on a similar package of coverage?

Now imagine two companies that offer similar coverage at comparable rates. Which one should you choose? It isn’t as much of a coin flip as you might suppose. One company might be more stable and have deeper financial resources. Insurance companies have been known to go out of business during economic downturns. One of them might be renowned for friendly customer service while another is notorious for nit-picking claims.

There is simply no way of properly determining these things without long experience in the field. In particular, long experience with multiple companies is necessary. Every agent of a single company is going to be just like that hypothetical car dealership mentioned above. He’s going to do his best to convince you that his product is the one you want even if he knows that superior alternatives exist.

At Inspirion Insurance Solutions, we are in the business of finding these things out and sharing our knowledge with you. Our job isn’t to get you the best coverage at the lowest price our company offers but to get you the best coverage at the lowest price that anybody offers.