What is the difference between agents and brokers in insurance?
The primary difference between an insurance broker and an insurance agent is who each represents. While a broker represents the insurance buyer, an agent represents one or more insurance companies.
What exactly does an insurance broker do?
An insurance broker is a professional who acts as an intermediary between a consumer and an insurance company, helping the former find a policy that best suits their needs. Insurance brokers represent consumers, not insurance companies; therefore, they can't bind coverage on behalf of the insurer.
Does it make sense to use an insurance broker?
When to use an insurance broker How you buy insurance is a personal choice, but brokers are usually best suited for people who have more complicated insurance needs, like a landlord or small business owner who needs several policies. You might benefit from an insurance broker if you: Have multiple cars or homes.