Independent Insurance Agent vs. Buying Directly Online

In the past, you didn’t have many options for buying home insurance, but those days are well and truly over. If you’re a homeowner, you’ll be getting bombarded every year with “too good to be true” offers in the mail, and every insurance company under the sun will be popping up on your Facebook sidebar as renewal date approaches.

Not only are there more options these days, but there are more ways to buy insurance, from a plethora of local agents, to companies offering direct quotes online in a matter of minutes.

It’s true, there are companies out there who will give you a real life quote for your home with just a few clicks of your mouse. So is this the way of the future? Could it really be the best course of action to just go online and buy the cheapest policy you can find, direct from the insurer?

It’s tempting, but before proceeding, ask yourself the following question: am I an insurance expert? If the answer is yes, go ahead and click away to see what is on offer.

However, if you don’t know your water backup endorsement from your water damage coverage, or your personal liability from your personal injury, then you need to get an independent insurance agent in your corner. Independent agents such as Memorial Insurance have access to many different markets and can find you a homeowners’ insurance product that suits your home, location, and budget.

Often, you will save money by relying on an agent’s expertise, compared to going directly to an online insurer and running the risk of buying coverage you don’t need, or not buying coverage you do.

When you’re in the market for a toaster, by all means go online and get it from the cheapest outlet you can find. After all, a toaster is the same wherever you buy it. The same can definitely NOT be said about insurance. This is why independent agents like Memorial Insurance are here to stay, fighting your corner and helping you navigate the insurance minefield to find the most suitable policy for your needs.

Photo credit: Franchise Opportunities .

Less Premium, More Coverage …. GO LEAN with your insurance today!

With insurance, you get what you pay for. This is fine up to a point …. but what if the things you’re paying for include hefty marketing budgets, national TV advertising, huge numbers of offices and thousands of staff? State Farm, Nationwide, Allstate and other major national carriers spend millions of dollars each year to make you think of them when you’re in the market for insurance.

If you hate the idea of your premium being spent on annoying TV jingles, you’ll be delighted to know that there are alternatives. In Houston, there are plenty of insurance carriers who offer low premiums, high coverages, and excellent customer and claims service …. but you have never heard of them. They don’t run expensive office networks, and they certainly don’t advertise on TV. In fact, they won’t even pop up on your Facebook feed, and in some cases you would even struggle to find them on Google unless you know exactly where to look.

But don’t be put off. All insurance companies are rated for their financial stability, and the amount of cash they have in reserve to pay claims. The highest available rating for insurance carriers is with A M Best. State Farm, Nationwide, and Allstate are all examples of A M Best rated companies …. but so are City National, Occidental, and Universal. The latter three companies are lean insurers that are long-established, financially stable, and use their money to pay claims, not advertising. They sell their products only through independent agents and don’t have an office network to support. By the way, did I mention that Memorial Insurance writes business with all three of these companies? (and many more besides!).

Another point to consider is that the big names often don’t have the best coverages. You’ll want to see the magic words “replacement cost” on your policy. You also need comprehensive water coverages (for water backup, slow seepage/leakage, and foundation coverage).

So, why not send us your current declarations page from State Farm, Nationwide, or Allstate? We’ll be happy to give you an honest, no-obligation assessment of what you’ve got covered, and if you like, give you an “apples to apples” quote with our carriers for comparison. Why pay more to get less? GO LEAN with your insurance today!

5 Reasons to Choose an Independent Insurance Agent

Still unsure whether an independent insurance agent is the best way to go for your home, auto, umbrella, flood, renters, or rental property insurance? Read below!

  1. You save money: The difference between your current policy and the best option available in the marketplace can be hundreds or even thousands of dollars per year. Put your independent agent to work finding the best policy for you!
  2. You have more choice: Let’s say you are shopping for homeowners’ insurance. An independent agent has many companies to choose from (Memorial Insurance has more than 22!), whereas a captive agent – such as State Farm – has just one. Who is more likely to be able to offer the most suitable policy at the lowest price?
  3. You get better discounts: New roof? Got married? Improved credit score? If you stick with the same policy for years, you run the risk of missing out on savings if no one is checking. Your independent agent will review your policies annually to make sure you’re receiving all possible discounts.
  4. You stay under one roof: Life is easier when you have your home, flood, auto, boat, umbrella, and rental home policies all in one place with someone you know.
  5. You make informed choices: Unsure about whether to file a claim? Don’t know what is covered under your policy? Your independent agent will make sure you’re not missing any essential coverage, as well as providing guidance and advice. There are no 1-800 numbers here …. you just call and speak directly to someone who knows you.