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how lucrative are insurance agent job | difference between insurance company and insurance agency

 Which type of work done by an insurance agent



As an insurance agent, my job is to help people make informed decisions about the insurance coverage that suits their personal needs. If a customer ever needs to make a claim, we can also help them through that process. One part of my job is to help customers review their policies. We look at the coverages the person currently has.


 I like to explain each type of coverage in-depth and give examples of how it may help. Say we’re reviewing auto insurance. I might ask, “What happens if you get into a collision and you’re at fault?” “What coverages would you need to protect yourself? Would your coverage limits be high enough to protect you?” We look closely at all those questions.


 I have similar conversations with people who are looking to buy new policies. Some people say, ‘I just want the cheapest coverage.’ I tell those people, “Think about what would happen if you had to make a claim. Would you want the policy with the best price or the best benefits?” “That usually helps people understand that we have their best interests at heart.” When a customer needs to make a claim, we can help them begin that process.


 After they make a claim, I usually follow up just to make sure everything is going okay. For me, that’s actually the best part of my job – having the opportunity to help someone who's going through a tough time; to turn someone’s day around. 



Difference between an insurance company and insurance agency


A lot of people use the two terms almost interchangeably. Insurance companies and insurance agencies are two completely separate entities. The insurance company is the organization with which you actually have the insurance contract. You pay your premiums to the insurance company.


 In the event that you ever have a claim, the insurance company is the one that pays you for your loss.


 Captive insurance agencies.


That would be State Farm, Nationwide, you can go through an independent insurance agency who can write with whatever carrier they feel best suits their people, many times multiple carriers. Every independent insurance agency has multiple contracts.




The difference between the two is an insurance agency is your advocate, is going to fight for you and work with you in the event that something happens or you have a life change and need a particular product, whereas the insurance company is the provider of the insurance and is more concerned about making sure they run their business in a way that if something happens they can pay you for that damage.

 So you, insurance consumer, the insurance agency sits between you, you are the insurance consumer and the insurance company who you ultimately have the contract with. If you have questions about that process, if that seems kind of convoluted, please just ask them in the comments below.

The answered question is clear all about the difference between what an insurance company is and an insurance agency, two completely separate entities.


Think before starting a career as an insurance agent


I would say if you're gonna go into this industry which has been a very good industry to be in now in 2021. You want to consider that auto insurance especially is becoming more and more commoditized .you see all the ads you know to just get covered yourself online or compare now and so the industry is changing.

So my suggestion to my 18-year-old self would be learned commercial insurance work to get your hire designations because all of those things are going to put you in a much better light in this industry and give you especially.

If you become an expert on commercial insurance business it insurance the earning potential is really unlimited depending on how hard you want to work so I would today say really become a commercial specialist. Well, I'd like to say that you know this can be a very challenging industry you have to be a person that can take some constructive criticism and sometimes not. 

So constructive but if you're willing to work hard and you're friendly and your motive is to help others I go into this every day I look at the businesses I'm here to be of service to other people and you know if I make an income that's the byproduct but I don't look at you know I look at what's best for my customer?

 what's best for my client isn't putting them with this company or this company not how much income I'm going to make not which company pays the highest commission that's what's best for this person and I really think that all those things, if you try to be of service, will come back to you.


Comments

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