Insurance policies can be complicated, and the buying process may seem overwhelming. The entire industry is predicated on consumers and businesses buying an intangible product for a promise of security.
Advanced insurance technology has completely revamped the industry in the last decade. Enhanced data and risk models have provided insurance carriers with the opportunity to provide instant pricing and coverage and large internet insurance companies have flooded social media with targeted advertisements. Saving 15% on your insurance in 15 minutes may sound great, but are you really getting the value you deserve?
When considering an insurance purchase, working with a local insurance company provides distinct advantages. Here are 6 reasons why you should consider an independent insurance agent instead:
1. They know the local market
Local independent insurance knowledge matters. A local agent knows the intricacies of the weather, traffic, and other risks associated with living and working in the community. Their agents are your friends, acquaintances, and neighbors all experiencing similar life circumstances as you. The knowledge of the community they provide can help you better reduce your risks and protect your assets.
For example, would an insurance agency up north be aware of the Nashville May 2010 floods or the tornadoes that devastated our community in March 2020? Local agents know these risks specific to the community in which you live and work.
During assessments or reviews, local agents can refer you to other reputable advisors, such as financial advisors, attorneys, or CPAs. When all these partners work together, more comprehensive solutions are provided to you.
2. They give you options
Independent agents give you choices of many different insurance carriers that offer different pricing and coverage options. You don’t have to settle for one quote from one insurance company. Local agents lay out all the options to best suit your needs.
Suppose you are online and going through the application process with a large insurance company. You are left with one price and many times one policy option with little explanation. Local agents can often find better value and pricing rather than you spending time searching through each individual insurance companies’ offerings.
3. They build long-term relationships and know your needs
Trust building is one of the few remaining differentiators. Many large insurance companies compete on scale and price, however local agents know there is value in taking an opposing view.
Local insurance advisors know your protection needs today will not be the same as your life events change. They get to know you on a personal level – your life circumstances and goals – and will not only help solve the challenges of today but help you plan for tomorrow.
4. They are your advocate
Shopping for the best value and price is only one side of the equation. Service and claims are the other side. In many circumstances, when clients file claims, this may be a life low point. In these situations, a go-to local agent can ease the emotional burden by taking care of the details.
If you have a billing question, claims circumstance, or life-stage change would you rather reach an automated recording or an actual person to assist you? Your agent helps you report claims as well as explaining the policy details.
Your local agent is your advocate, working with the insurance carrier on YOUR behalf.
5. They provide one stop for all your insurance needs
Consumers need life, home, auto insurance. Businesses need general liability, professional liability, and worker’s compensation insurance. Dealing with multiple companies is a hassle. One local agent can package all your needs together, possibly from different insurance carriers.
You do not need to spend hours on the internet looking through countless different options. Local agents do the work for you and provide you with a comprehensive coverage plan to meet all your needs.
6. They are involved in the community
The community is a critical part of success for local insurance agencies. Limited resources compared to the national insurance companies means smaller companies work harder for a strong market presence.
Local insurance agencies are part of your community and they support the your economy. You probably see them donating or volunteering to one of your favorite charities. They realize serving the community creates happy employees and more loyal customers. Local agencies have established themselves as pillars of the community and add real, immeasurable value.
The next time you are considering buying any type of insurance, contact a local agent to connect and engage with you on a personal level.
Montgomery & Associates Insurance & Financial Services is a leader in business and consumer insurance in Tennessee and across the nation.
Call for a free rate quote: 855.207.9492