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Who Really Works For You? You may think that the term "independent agent" means just that. In actuality, an independent agent is by legal contract, an agent of the insurance company and not the insurance buyer. Typically, most independent agents represent just a few insurance companies and therefore, you may be concerned that they might put an insurance carrier's interests ahead of yours. Brown & Brown represents you and we put your interests first.
It may be helpful to understand whether you are simply buying insurance or hiring expert representation (at the insurance company's expense) to advise you on the right coverage for the best price. There are different types of agents and brokers and you should understand the difference.
Captive Agents
Whose interests do they serve? An example of a captive agent would be a State Farm or Farmers agent. A captive agent represents and works for only one insurance company and has only their products to sell. Who would take your side in a serious claim or dispute?
Independent Agents
Are they really "independent"? Independent agents are legally contracted agents of the insurance companies they represent and not insurance buyers. Most independent agents find their business is concentrated with just a few insurance carriers and therefore, the agent's livelihood depends upon keeping those few companies happy. Whose interests are more likely to be served, yours or the insurance companies?
True "National" Brokers
Are they truly a "broker" or an "independent" agent? Many larger independent agents refer to themselves as "brokers", yet many face the same potential conflicts as smaller independent agents. True "national" brokers have multiple locations and place billions in premiums for their clients with hundreds of different carriers. They typically don't have a concentration of business with just a few insurance companies. If they are a broker, what size account justifies their full service commitment? Will you be important to them? Although Brown & Brown is a large national broker, unlike other large brokers we focus on medium and smaller sized accounts.
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