A captive insurance agent is an insurance agent working for one particular company. Captive agents are full-time employees or independent contractors who are usually paid salary or commissions by the same company they work for. Since captive agents are tied to one insurance company, they have extensive knowledge of that company’s products. However, if the client does not qualify or does not need the company’s products, a captive agent cannot help them with their insurance selection.
Captive agents provide excellent service to their clients. They work closely with their clients, building relationships, finding facts, and providing customer support. The downside of working with a captive agent is the limited insurance products they can offer. If you do not need or qualify for their products, they will not be able to assist you with your insurance needs. An independent agent is the opposite of a captive agent. Independent agents do not work for one insurance company, and they can sell policies from various insurance carriers.
Working with an independent agent may be a better arrangement from a client’s perspective, because and independent agent can find the most suitable policy for the needs of the client by browsing policies from multiple providers. Speak to a representative at Team Insurance if you think working with an independent agent might be the best option for you.