Most people would rather do just about anything than delve into car insurance paperwork. It can be overwhelming to compare polices, premiums and the varying procedures for each company. Despite being a somewhat daunting task, plenty of people are opting for DIY insurance shopping online.
But at the end of the day, are you making the most informed choice? Do you really know how to best shop for insurance? You may be wondering, “Can an auto insurance broker save me money?”
The first step is to understand the difference between an auto insurance broker and an agent. A broker is an independent contractor who can write policies for multiple companies, whereas an agent works for one company and writes policies for that company only.
An insurance broker will be up to date on the latest regulations and rules in the insurance industry along with policy changes and new offerings. Plus, brokers can truly shop around, comparing a variety of policies from a variety of companies. They can walk you through the options, explaining the various nuances of each policy and helping you determine which is best for your needs.
Brokers also can help you determine if you qualify for certain discounts, and auto insurance brokers may have the inside scoop on deals and special offers the general public may not know about – another great way to find cheap car insurance in S.C.
Lastly, a broker can be helpful in the event you need to file an insurance claim, offering support and advice to navigate the process.
Having an experienced professional who knows the industry and what’s available in the market will almost certainly save you time, which may very well save you money if that means less time away from your own full-time job.
A broker can compare all the deals to ensure you get the best auto insurance coverage at the very best price, which should be a better deal than your current policy.
The real cost-savings consideration comes into play with the broker’s fees. Most brokers do charge a fee for their services so you’ll need to decide if paying the fee to get cheaper insurance translates to long-term savings.
If you do opt to work with a vehicle insurance broker, follow these tips:
- Make sure the person does have an authorized license to work as a broker in South Carolina. You can also research the broker with the South Carolina Department of Insurance or the Better Business Bureau.
- Ask how the broker is paid. Most receive a commission on any products they sell, plus they may charge an additional service fee. Make sure you understand the fee breakdown and exactly what’s covered by the costs. For example, find out if they charge for an annual policy review or if you need assistance filing a claim.
- Inquire about the broker’s experience in the industry and training.
- Assess whether the broker takes the time to get to know you and your insurance coverage needs. Or is he or she out to make a fast sale? You’ll want a representative who is working for you and helping you get the best insurance deal.
As with any insurance purchase, do the same thorough research to find a credible broker and then ask plenty of questions to determine if an auto insurance broker truly can save you money.
Learn more about Manning Insurance Services‘ Car Insurance Policies.