Specialty insurance lines are types of insurance that focus on unusual risk and specialization to meet the client’s needs. These insurance lines require a great deal of knowledge about the insurance market to underwrite policies that are specialized, difficult, and often high risk. The difference in working with an independent agent is that they are not tied to a single insurance company and can offer you specialty insurance lines from a variety of companies to ensure you get the type of specialty coverage that is right for your business.
Superior Access explains that “We are the ultimate online market network for the independent agent, offering a single source for personal, commercial, and specialty insurance lines.” When agents have access to premier providers and can offer their clients a variety of choices, it gives them the option to compare coverage and make a decision that will provide them with coverage for their worst case scenario.
Everything You Need from a Single Source
The independent agent will usually work with multiple insurance companies which offer a broad range of insurance types. Insuring a business doesn’t stop with specialty insurance. An independent agent can help you get the liability, commercial auto, and other types of insurance needed to protect your business from the same source.
Changing Needs as Your Business Grows
Businesses that require specialty insurance coverage may expand into broader areas as they continue to grow. Their ventures may make their operation even more difficult than before or it may increase their risk. For example, if a company is producing a product that is considered high risk and they expand to include more products which are just as risky but different in the potential dangers they cause, their coverage will need to be changed to include the new products.
Working with an independent agent allows the business to continue working with the same professional they are used to because they have access to so many specialty insurance lines. When working with an insurance agent who is tied to a single insurance company, they may no longer be able to get the degree of coverage needed and have to start over with another insurance company. Your independent insurance agent will do the changing for you.
In many ways, an independent insurance agent is a middleman, working between the insurance companies and the clients who need coverage. They work to build relationships with their clients and focus on providing the best possible customer satisfaction. Without it, they cannot survive in the competitive insurance industry. For the client, that means getting the type of personal service that is needed for difficult and high risk businesses where taking the time to understand how the business works is essential.
Even the most basic insurance policies can be complex to the average business person. When it comes to understanding specialty insurance lines, the independent insurance agent is a licensed professional who will explain your options to you and help you find the solutions that will work for you when you need them.