San Angelo Insurance – An Intro

Posted by Yafr Qqater in insurance

An insurance agency, sometimes referred to as an independent broker or insurance brokerage, represents, collects and sells policies from a variety of insurance providers, through a variety of brokers. They are never directly employed by any single insurance company. Brokers, usually referred to as “insurance sales agents” or “insurance sales personnel,” work for their own companies, selling the insurance products of various companies on behalf of the insurance provider. In other words, an independent agent works on commission only to sell the insurance of one company and receives a percentage of the proceeds from each policy that is sold. The rates that they receive are usually much less than what they would receive if they sold policies from many different companies.Learn more by visiting  Insurance

Insurance companies can purchase insurance from either an “in person” or an “online” insurance agency. Either way, an insurance agency is required by law to post their name and their street address on the sales floor of their company’s website. Brokers are given the same opportunity to shop for coverage products as any other agent. They may be given a price range to consider when they make a proposal for a new policy, or they may be given a price range to give and let the customers choose from. Either way, a broker’s recommendations are respected when a customer decides to buy a policy from that particular broker.

A number of factors may affect an insurance company’s willingness to provide commissions to their brokers. Some insurance companies require a specified amount of money upfront before they will pay commissions on a policy. Others may not take payments until a policy has been sold. Other insurance companies may allow a broker to receive up to ten percent of the proceeds from each policy sold, but will not pay commissions until policies have been sold. These are just some of the reasons why it may be helpful for you to become an independent insurance agent and sell your own coverage policies.