What is the difference between an insurance agent and a broker?

An insurance agent and a broker are both professionals who help people buy the right insurance for their needs. However, there are some key differences between them. An insurance agent works directly for an insurance company. They are hired by the company to sell its insurance policies to customers. The agent must stay up to date on the products the company offers and will work to promote them to potential customers. An agent will typically receive a commission on any policies they sell. An insurance broker, on the other hand, is independent and works on behalf of the customer. They research policies from different insurance companies and compare them to find the best fit for the customer. A broker will typically charge a fee for their services, rather than a commission. In Florida, all insurance agents and brokers must have a valid license from the Florida Department of Financial Services. While both can be helpful when it comes to finding the right policy, brokers have an advantage as they have access to the policies of multiple companies, rather than just one.

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What is the difference between an insurance agent and a broker?

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