What should I consider when choosing an insurance broker or agent?

What should I consider when choosing an insurance broker or agent?

Sam Friedman (Editor-in-Chief, National Underwriter, Property & Casualty Edition) gives expert video advice on: Do I need insurance?; How much insurance do I need? and more...

I think the best advice I can give people when choosing an insurance agent is to deal with a referral if at all possible. Ask your friends: Who is their insurance agent or broker? Are they happy with them? If they are happy with them, what do they like about them? Make your friends articulate the advantages of dealing with this insurance agent because at least in that case, you get some sense that people that you trust have had a good experience with this person in getting price, coverage, and even a claim handled properly, which is really when the money is on the line. My best advice is to do that. Otherwise, just sit down with the insurance agent, talk to them in as much depth as possible, make sure you're comfortable, that you understand their explanations, that they're being patient with you, and giving you full disclosure about what's covered in the policy. Shop around. See more than one insurance agent before you make your decision. You might be comfortable with insurance agent A but when you get to B and C, you find out you and C really hit it off and you're prepared to place your business there.