Trust is important in business relationships, and it’s one of the reasons to work with an independent insurance agent. Because independent agents aren’t beholden to a particular provider, they’re not influenced to recommend a certain plan for your company.
When your New Jersey business is in the market for insurance, consider selecting an independent agent and building a new relationship based on trust. Here are three big benefits.
Benefit #1: A Full Menu of Options
If a restaurant gave you just one meal option, you’d go somewhere else. It’s the same with insurance. You should have a wide variety of options so you can select something that meets your company’s specific needs.
An independent insurance agent works with hundreds, even thousands, of providers. They should be well-versed in the details of various plans, so you can hand-pick a program that works for your business. Every business has different needs.
For example, a website hosting company has vastly different insurance needs from an auto repair business. The web host deals with sites that manage sensitive customer data, like credit cards and social security numbers. It needs a provider with robust cyber liability options. The auto repair shop has a higher risk of workplace accidents, vehicle damage, and property loss, so its plan should reflect that focus.
Insurance is not a one-size-fits-all purchase. Independent agents understand this, and are prepared to spend the time it takes to find the perfect plan.
Benefit #2: Cost Savings, Even in an Expensive Area
Among carriers, rates can vary widely. An independent agent gives you the ability to price-shop and make comparisons between providers, with no fear that the agent will push you toward a certain plan.
This is good news for small companies and those with tight budgets. If all you need is one certain type of coverage, the agent can do an analysis that gives you the best plan possible for your needs.
The reverse is also true: If your company needs complete coverage, the agent can still find the best price on a total-coverage package. You can rest easy, knowing that you not only have comprehensive coverage, but are paying a fair market price for it.
With their extensive provider knowledge, an independent agent can also make recommendations for containing your insurance premiums. They might know, for example, that a certain provider gives big discounts for installing safety equipment. This can contribute to long-term cost savings for your company.
This is particularly relevant in New Jersey, because east coast insurance can be more expensive than other places around the U.S. The proximity to big cities like New York and Philadelphia is sometimes a factor in higher rates, especially for auto insurance, but it depends on the plan and provider.
3- Long-Term Support
Personal attention is another big benefit of an independent advisor. In fact, a Gallup poll found that the #1 factor in insurance agent-client satisfaction was “feeling like a valued customer.” Unfortunately, just 36% of insurance customers say their agent makes them feel that way.
Independent agents are always focused on personal service, because their provider recommendations are based on knowing a lot about your business. Without a close relationship, they can’t make good suggestions.
An experienced advisor can provide firsthand examples of similar situations to yours, and make suggestions that are helpful for your business. And as time goes by, a great insurance agent will contact you to re-evaluate your needs and make adjustments that keep you fully covered.Ready to see the benefits of an independent agent for your New Jersey business? Reach out to Links Insurance.