Buying Insurance Policy From Insurance Agent Vs. Buying Policy Directly From Insurance Company

Jasmine

Valued Contributor
If you want to buy an insurance policy, you have two options, one you buy from an insurance agent, two you buy directly from the company.

Buying From Insurance Agents or Brokers

Insurance agents or insurance brokers are the individuals who are not directly employed by the insurance company but have got a licence to work as an agent and earn commission on every successful sale. Sometimes you can be easily tricked as they might be fake agents. Sometimes these agents or brokers might abscond with the premium paid and the insurance company might not receive the premium and your policy might not be valid.

Buying From Insurance Company

This is the most trusted method to buy insurance policy. When you walk to the office, you can discuss about various policies and choose the one that is right for you.
 

Jamoflondon

Verified member
In some sense buying insurance from an agent can be a good idea in the sense that it will save you some stress of having to find the location of the company but if you buy directly from the insurer it saves you the risk of being scammed because there are lots of scammers out there pretending to be the real agency
 
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Mandy96

Valued Contributor
I think one is saved from the risk of falling into the hands of scammers if one should choose to buy directly from the insurance company. Most fraudsters impersonate as the real ones these days just to get you ripped off your hard earned money. So I will suggest to buy directly from the insurer
 
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btaliat

VIP Contributor
Though many agents work directly for some insurance companies. But that doesn't mean they can be taken for brokers who are legally recognized by the insurance company. Buying from the insurance company is surest and safest way of getting insurance policy done. With this, there will be more information available to the insured.
 
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Mika

VIP Contributor
When I bought an insurance policy, I did not buy directly from the agent. Instead, I did some research on insurance companies, I compared the coverage provided and the premiums I have to pay, then only I bought the product. If you buy an insurance policy from an agent it is very likely that you are scammed.
 
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Wisdom01

VIP Contributor
There are so many scam agents and they pretend like they are working with an insurance company , so I would choose not to go for the agents , but instead the insurance company and buy a policy from them , because I would make my research well and also know the physical office incase of any issue
 
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Alexandoy

VIP Contributor
When I was young I thought that you can do that option of buying insurance from the insurance company. When I had planned of getting an insurance from our neighbor who is an officer of an insurance agency that's where I learned that you can only buy insurance from the agent or broker. The insurance company does not deal with customers directly.
 
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Jasmine

Jasmine

Valued Contributor
There is no much difference between buying from an agent or buying directly from the company. What actually matters is whether you are buying from the trust worthy company or not, or whether the agent is real or not. A lot of scamming goes around while buying from the insurance broker.
 
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Chibson

VIP Contributor
If you are the kind of person that does not really have proper knowledge about insurance then it is very important you locate an agent. if you get a good agent he or she will direct you very well on how to go about it and also help you to get the best insurance deals but the downside is that it is costlier.
 
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