Insurance Broker vs. Insurance Agent

Reliable insurance brokers

Reliable insurance brokers


If you are in the market for insurance, you may have heard the terms ‘broker’ and ‘agent’ tossed around. While both are professionals in the insurance industry, these two job titles have some distinct differences. Both insurance brokers and insurance agents act as intermediaries between insurance buyers and insurers. They both must also have the appropriate licenses to distribute the insurance they are selling, while also adhering to any laws or regulations enforced by local insurance departments. The primary difference between an insurance broker and an insurance agent is who each represents. While a broker represents the insurance buyer, an agent represents one or more insurance companies.

Reliable Insurance Brokers, Inc. (RIBI)

The Business Benefits Group is a full-service agency offering affordable, comprehensive insurance strategies for businesses. Our aim is to protect your assets by providing professional risk-management solutions. Whether you are a new or established business, you need the right type of insurance to protect your interests. When you contact BBG regarding our business insurance services , we will determine the best plan for you according to the needs of your business, the number of staff you have, risks that you may be facing, and similar factors. Call our office today to learn more about how we can protect your business or request a consultation online.

American Reliable Insurance Company®

Reliable Insurance Brokers Inc recognizes the value of capital growth and business expansion in a very competitive industry. To finance new initiatives and start new programs, our company and its shareholders may seek financing from Canadian Banks, Trust and/or Insurance Companies to support these operations. The financial requirements of repayment of such loans do not require, and will not influence the placement of business with any insurer or Financial Institution.

Reliable Insurance - Home Auto Business - Lafayette

As an independent insurance agency, Reliable Insurance Solutions can offer many different brands of insurance. You wouldn't want to eat at a restaurant that only has one item on the menu, why should you settle for an insurance agency that only sells one brand of insurance?

Reliable Insurance Managers, Inc. - Get a quote for auto

Contingent profit commissions are additional compensatory income available to the broker if the portfolio of business written with any individual insurer is profitable to the insurer. This is a standard tool used by some insurers to help encourage brokers to select above average clients.

HOME & AUTO INSURANCE — Reliable Brokers

Insurance can be a complex concept that is not always easy to understand. While we know that we need insurance to protect our health, our house and car, and to ensure that our loved ones are protected, the finer details often become blurred. An insurance broker can help you navigate the process of finding, comparing, and acquiring insurance by breaking it down into terms and conditions the average Joe can understand. Insurance brokers pride themselves on providing their clients with the best value in insurance coverage. Having an experienced insurance broker represent you is also a wise way to safeguard yourself and your business.

Program Business (. Group Business) is often written with unique coverage and at rates that are typically 75% less than standard rates. Notwithstanding, we have some group program arrangements whereby we reallocate a portion of our commissions to a group sponsor in lieu of promotion and administration costs which the sponsor may incur on our behalf. Such allocations can range between 6% and 7% of the premium.

We aim to provide the type of service that our customers prefer. Some prefer to visit our website and fill out their quote forms themselves. Others prefer us to do their leg work, in order to obtain the best quote possible. Whatever your own personal preference, Reliable Insurance Solutions is here to assist you.

Canada’s national privacy legislation, the Personal Information Protection and Electronic Documents Act, applies to all insurance brokerages collecting, using or disclosing personal information.

We work for you. As a one-stop agency, we continually search for companies for all insurance products when you first request a quote, 85 days before renewal, when you make a change to your policy and any time you request a quote in between. We will continually look to cover any and all your assets and loved ones. Bundling your policies will provide for further discounts and ease of handling all your insurance needs with friendly, knowledgeable people.    

Of course, there is nothing stopping consumers from utilizing all of these resources — other than the time it takes to conduct research and compare policies. Regardless of which route you take, it is always worthwhile to check with organizations such as AAA or the Better Business Bureau, as well as your personal network for referrals, recommendations and reviews, to find the insurance professional that is right for you.

When you work with an insurance broker, you can rest easy knowing that you are receiving honest, reliable service. Brokers provide full disclosure on commission rates and the effects that these rates may have on your insurance premium. In fact, brokers are required to disclose this information. If you choose to go through with the sale, know that the broker’s compensation is included in your premium payments. At the point of sale, your broker should provide you with a statement that tells you how much of your premium will go towards commission. This allows you to make a more informed choice when shopping for insurance.

We're more than your typical insurance agent. Our job is to diagnose the exposures you face and develop personalized risk management and insurance programs. We're your independent insurance advocate in West Lafayette, Indiana, home of Purdue University.

Our trained insurance professionals provide you with prompt, personalized service. We're proud of our rapid response and customer service, and the happy clients that result.

The ultimate test of any insurance agency is in how they handle their client's claims. When a claim occurs, our staff will work with you to make sure everything is handled quickly and fairly.


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