What are recommended ways to find an insurance broker?
For example, when looking for a financial planner I know I can start at NAPFA to locate fee-only, fiduciary planners in my area and then use that list to start narrowing down candidates by the services they offer, specializations, etc.
Are there credentials I should look for in an insurance broker? Is there a starting place that has a directory of brokers in my area? A way to search for brokers by the companies they work with?
How would you start your search?
How to find an insurance broker
Re: How to find an insurance broker
I'd be interested in hearing others' experiences on this as well. I've never used a broker but from reading plenty of threads on the topic, it doesn't seem like they're able to consistently provide savings above what you could easily get on your own.
I like to do market checks every 12 months or so for my insurance products and every time I do them, I come up with the same winners and losers. State Farm's algo loves me apparently, and they're always the cheapest for the coverage.
I like to do market checks every 12 months or so for my insurance products and every time I do them, I come up with the same winners and losers. State Farm's algo loves me apparently, and they're always the cheapest for the coverage.
Re: How to find an insurance broker
Usually by asking your friends.AstaticInventor wrote: ↑Thu Aug 11, 2022 9:15 am What are recommended ways to find an insurance broker?
For example, when looking for a financial planner I know I can start at NAPFA to locate fee-only, fiduciary planners in my area and then use that list to start narrowing down candidates by the services they offer, specializations, etc.
Are there credentials I should look for in an insurance broker? Is there a starting place that has a directory of brokers in my area? A way to search for brokers by the companies they work with?
How would you start your search?
In my experience, you don't necessarily get a better rate with a broker than a captive agent. (Again, sample size of 1.)
I was with my broker for 15 years. They never had me carrying any more than the minimum liability amounts, even though my income and wealth had grown over that time. I didn't know enough to ask.
They can be helpful to locate insurers for difficult or odd cases.