When you start your search, you can pick an independent agent or a captive (or direct) agent. An independent agent may sell policies from many different companies. A captive agent sells insurance for only one company. Independent and captive agents represent insurance companies and receive a commission from the insurance company for the sale of its policies.

Life insurance is designed to provide families with financial security in the event of the death of a spouse or parent. Life insurance protection can help pay off mortgages, help provide a college education, help to fund retirement, help provide charitable bequests, and, of course, help in estate planning. In short, if others depend on your income for support, you should strongly consider life insurance.
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Contingent commissions are controversial. For one thing, brokers represent insurance buyers. Some people contend that brokers shouldn't accept contingent commissions. Moreover, some brokers have collected contingent commissions without the knowledge of their clients. Another problem is that contingent commissions may give brokers (and agents) an incentive to steer insurance buyers into policies that are particularly lucrative for the broker. If agents and brokers accept contingent commissions, they should disclose this fact to policyholders.
1 In Texas, the Auto Program is underwritten by Southern County Mutual Insurance Company through Hartford Fire General Agency. Hartford Fire Insurance Company and its affiliates are not financially responsible for insurance products underwritten and issued by Southern County Mutual Insurance Company. The Home Program is underwritten by Trumbull Insurance Company.

If you find yourself away from the wheel more times than not, a pay-per mile auto insurance company like Metromile may be the best company to go with. Metromile is one of the first companies in the U.S. where a bulk of a driver's premium is determined by how much they drive. How much is too much? We found that generally for Metromile to be a good deal, drivers should only drive 7,500 miles or less per year. The biggest downsides to Metromile is a mediocre record of claims handling, in addition to the company only being available in seven states: CA, IL, NJ, OR, PA, VA, WA.


You can access all your personally identifiable information that we collect and maintain online by calling us at 1.800.670.3213 or emailing us at [email protected] This will give you the opportunity to review your personally identifiable information or update us on a correction that needs to be made. To protect your privacy and security, we will also take reasonable steps to verify your identity before granting access or making corrections. We use this procedure to better safeguard your information.
Insurance brokers perform a plethora of duties for individuals and businesses in search of the right insurance for them. When you contact an insurance broker for a quote, he will acquire some information and assess your individual needs. An insurance broker will compare the coverage of various insurers to get you the best conditions and rates. A broker will also search for opportunities to combine different types of insurances to obtain discounts or reduce premiums. As brokers do not work for the insurance companies, their recommendations are unbiased and in favor of the insurance buyer.
Liability limits generally start at about $100,000, however, it’s a good idea to discuss whether you should purchase a higher level of protection with your insurance professional. If you have significant assets and want more coverage than is available under your homeowners policy, consider purchasing an umbrella or excess liability policy, which provides broader coverage and higher liability limits.
Agents only need to know the products of one company, which can simplify the learning curve. This can also make it easier to keep policyholders abreast of policy changes and provide better service in general after the policy is sold, helping to foster a closer ongoing relationship. Because brokers must know the products and services offered by numerous companies, staying current and providing clients with reliable product knowledge can prove challenging.

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You can own both whole life and term life policies at the same time. People who are looking at this option typically already have a whole life policy. However, they may find that they want additional short-term insurance coverage such as for 10 years. In this instance, buying a term policy for the amount of life insurance you need for that extra protection can be a good solution.
Only eight companies out of the 14 below made our top picks list. Those listed as “best for…” each stood out to us in a certain area, whether it was a unique coverage option, stellar customer service, or an easy shopping process. That said, the other half may have options that interest you. (For instance: If you have an auto insurance policy with one of these companies, you might want to consider bundling discounts.)
J.D. Power’s annual U.S. Household Insurance Study and Consumer Reports’ customer experience survey measure communication, price satisfaction, claims process, and timely reimbursement. From J.D. Power, we required companies to have a score of 3/5 or better, and at least an 80/100 Reader Score from Consumer Reports. High scores reflect a company’s ability to handle claims and communication kindly, effectively, and without frustration.

Whether you own a home already or you’re house-hunting, it’s wise to know average home insurance rates for your state so you can anticipate what your expense is when shopping your policy and creating a family budget. Knowing what you can expect to pay also helps you save money when comparing rates because you can more easily flag rates that are above the average home insurance cost for your area.
Allstate has the second-largest number of additional endorsement options of all our contenders. Those additional endorsements are fairly low-risk: insurance for expensive sports equipment, musical instruments, or landscaping. Notably absent is additional coverage options for earthquakes and theft of other property (vehicles, trailer, watercraft), but the endorsements it does offer can be valuable if you have expensive hobbies or are putting a lot of money into renovating your home’s curb appeal.

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7Variable universal life products are long-term investments designed to provide life insurance protection and flexibility in connection with premium payments and death benefits. You should carefully consider the investment objectives, risks, charges, and expenses of the investment alternatives before purchasing a policy. These policies have limitations and are sold by prospectus only. The prospectus contains details on the investment alternatives, policy features, the underlying portfolios, fees, charges, expenses, and other pertinent information. To obtain a prospectus or a copy of the underlying portfolio prospectuses, please contact Allstate Assurance Company. Please read the prospectuses carefully before purchasing a contract.
With 10 discounts offered in total, Amica is second only to Allstate. Notably unique are its paperless bill and loyalty discounts, which can save you both work and money (you won’t have to mail in your check or shop around for new providers). You can also take advantage of a full gamut of standard discounts for security and safety — things like owning or installing fire extinguishers, sprinklers, and fire alarms.
You may find that your out-of-pocket costs for whole life insurance seem daunting compared to term life insurance. This is because the dollars you pay into term life insurance premiums are only there to provide a death benefit to your beneficiaries if you die during a specified term, while money you invest in whole life insurance premiums builds cash value that you can use later in life or that will add to the death benefit payout. The percentage of your costs that go into your cash accrual account increases with passing years, as many of the administrative costs associated with setting up the policy and associated investments occurs early in the life of the policy.
Disclaimer: NerdWallet strives to keep its information accurate and up to date. This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. All financial products, shopping products and services are presented without warranty. When evaluating offers, please review the financial institution’s Terms and Conditions. Pre-qualified offers are not binding. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion® directly.
USAA only serves members of the U.S. military (both current and former) and their families. That means the majority of Americans won’t be able to buy USAA insurance — which is the only reason it’s at the bottom of our list. In all other regards, USAA holds its own. We highly recommend that anyone with a military affiliation request a USAA quote for their homeowners insurance.
Virtually every state mandates that insurance agents and brokers meet licensing requirements, which normally entails the successful completion of a written examination. Prelicensing educational requirements may also apply, which can vary depending on the state and license type. Separate licenses are necessary for each line of insurance, including Life and Health and Property and Casualty. In addition, agents and brokers may have to meet ongoing continuing education requirements to maintain their licenses.

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