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What is the difference between Insurance Agent and Broker?

Asked by T. Wikati, Last updated: Sep 08, 2020

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3 Answers

vaishali

vaishali

vaishali
Vaishali

Answered Aug 31, 2020

There are two main differences between insurance agents and brokers:

  • Agents represent insurers, while brokers represent consumers.
  • Agents can complete insurance sales (bind coverage), while brokers cannot.

You can visithttps://www.einsurancetraining.com/ forState approved insurance continuing education and pre-license training.

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j. Goodman

j. Goodman

j. Goodman
J. Goodman, Web Content Writer, San Antonio

Answered Aug 14, 2019

Some people use insurance agent and broker interchangeably probably because both professions will have the ability to sell insurance. The main difference between the two is to whom they work for. When you say an insurance agent, this means that the agent is under one company. The agent will handle projects and policies that are only related to the company that they are working for.

Some people use insurance agent and broker interchangeably probably because both professions will
They will not be allowed to sell policies of the competitors. Insurance brokers can be associated with different companies and even to individual sellers. This means that they will be able to offer more insurance types and policies if in case you are searching for the right insurance to get.

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E. Barnes

E. Barnes

But Can you play this?

E. Barnes
E. Barnes, Professional Gamer, Professional Gamer, Washington

Answered May 24, 2019

Both insurance agents and brokers sell insurance. Agents are associated with one company, while brokers can work with a number of companies at once. Brokers have more variety avaliable to sell to their clients. To sell insurance, an insurance agent must have an appointment, which is a legal contract with the insurer. Insurance brokers have a license to sell insurance, which is issued by the state.

Both insurance agents and brokers sell insurance. Agents are associated with one company, while
Brokers are seen as more trustworthy and unbiased, for they are selling for multiple companies and able to find the best quote for their client. In regards to salary, brokers make more than insurance agents.

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