What is the difference between independent and captive insurance agents?

Independent and captive insurance agents are two different types of insurance agents in Indiana. An independent agent, also referred to as an insurance broker, represents several different insurance carriers. They can “shop around” to determine the best coverage for their clients by comparing rates and features for multiple insurance policies. A captive agent, on the other hand, is contracted to work with one specific insurance company. They are not allowed to offer policies from any other insurer. This means they will be limited to offering their clients products from the one company they represent. The biggest difference between the two types of agents is that independent agents can offer more flexibility and variety in insurance policies, while captive agents are limited to their one chosen company. Independent agents also tend to provide more personalized service for their clients since they have the ability to compare multiple policies. In summary, independent agents have more flexibility in terms of coverage options, provide more personalized service, and can compare multiple policies. Captive agents are contracted to work with a single insurance company and can only offer policies from that specific company.

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What is the difference between independent and captive insurance agents?

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