Business Insurance
BOP Can Protect Your Company Assets and Save You Money
BOP: Business Owners Policy
By buying business insurance, you take a big step to secure your finances and create a strong risk management strategy. After all, you never know when a single incident like a fire or break-in could devastate your business and cost you a fortune.
One of the simplest ways to put together a strong business insurance portfolio is to start your coverage with a business owner’s policy, better known as a BOP. It’s a great way to not only get strong coverage but also to save money on your benefits. Consider just a few of the extensive property benefits that a BOP can provide with just a few simple steps.
Why BOPs are Customizable
BOPs generally offer several standard types of commercial insurance in one place. These are:
- Property insurance to cover your company’s owned assets, including equipment and inventory.
- Liability coverage that pays for third-party injuries or property damage that are your fault.
- Business interruption insurance will offer you coverage for lost income or overhead costs that continue to burden you even if you have to temporarily halt your work.
However, just because BOPs will offer you standardized coverage, that doesn’t mean they are not customizable. This is particularly beneficial when it comes to your company property. After all, no two businesses are alike. That’s why the belongings you seek to insure are going to vary considerably, and you’ll want your BOP to be able to address them.
Within your BOP’s property insurance, you might be able to insure:
- Your inventory and the materials used to make products if you manufacture them on-site.
- Marketing materials.
- Company equipment. These items might be anything that you use to manufacture products.
- Furnishings such as shelving or storage cabinets, break-room appliances, chairs, desks, or decorative items.
- Electronic items such as computers, printers, company mobile devices, or tablets.
- Signage (both indoors and outdoors)
Of course, if you own the buildings that house your business, then your BOP can also insure the structure of the property itself. However, if you rent the property, then you usually don’t have any obligation to buy coverage.
However, it is important to remember that all BOPs will include exclusions and limits to what they will pay for certain losses. For example, your policy won’t pay for normal wear & tear, nor will it cover any damage that costs less than the deductible on your coverage. Another common exclusion is a limitation on what your policy will pay for outdoor signage.
Still, you can work with your independent insurance agent to determine exactly how to tailor your BOP’s property coverage to your benefit. There are various coverage endorsements available which might be precisely the benefits you need for your company assets.
How to build a fleet safety program
How many vehicles in your fleet?
When you have employees driving on behalf of your business — whether or not they use a company vehicle — it’s time to take a closer look at your risk exposure and establish a fleet safety program to help protect the wellbeing of your company and your employees.
Here are five best practices for creating a risk management program for fleet vehicles:
1. Start at the top and write it down.
The best way to ensure your fleet safety program is successful is by having leadership commit to supporting it as a critical part of your company’s risk management and fleet management programs. Then, after setting expectations among your leadership, write down a formal plan with clear policies and procedures for fleet safety.
2. Identify and screen your drivers.
Safe drivers are an essential part of a fleet safety program — and you may have more drivers than you realize. Your fleet program can include company-owned, private, or rented vehicles. While businesses are generally aware of their risk exposure with company-owned vehicles, many don’t know the full extent of their risk exposure from non-owned vehicles. Keep a record of everyone who currently is or will be driving on behalf of your business, whether they use a company-owned, personal, or rented vehicle.
For those employees using their own personal vehicles for business purposes, it’s important to hold them to the same fleet screening standards as those employees operating company-owned vehicles. You also may need to add coverage to your commercial auto insurance, which could help your business recover in case an accident results in a business liability event for your company, which could impact both your finances and your reputation.
When hiring, carefully screen your drivers. Check the job applicant’s Motor Vehicle Record (MVR) to view past driving trends, which can help provide insight into future driving behaviors. An MVR typically shows a person’s driving history from the past three years, including driver’s license information, point history, violations, convictions, and license status.
For many companies, a driver is considered unacceptable when the MVR shows:
- More than three moving violations, accidents or both
- Driving while intoxicated or under the influence of narcotics
- License suspension and any serious violation such as reckless driving, endangering the lives of others, and racing
By pre-screening drivers as part of your standard hiring practices, you’ll empower your fleet safety program, making it more reliable, effective, and safer.
3. Train and manage your drivers.
Require all of your fleet drivers to learn and commit to the company’s fleet safety policies and procedures. Additionally, provide training and resources on defensive driving and other safe driving techniques. For example, there are many forms of distracted driving including talking on the phone, texting, eating, daydreaming, and other things that take the driver’s attention away from driving.
It is also essential to continue to manage your drivers to help ensure they are following your fleet safety rules and driving safely. Schedule time to check the MVR of your drivers and have a plan in place for handling drivers with marginal or poor driving records.
You may also want to consider using fleet telematics to further strengthen your overall fleet safety program. Telematics is a technology that can track and monitor a variety of driver and vehicle parameters. Some examples include a vehicle’s speed, fuel consumption, harsh braking, and other driving behaviors.
4. Have a formal preventive maintenance program and secure your vehicles.
Make sure all vehicles are safe to drive by having each of them on a formal preventive maintenance program. This includes routine oil changes, vehicle inspections, making repairs, and keeping vehicle records. It’s also important to ensure that all vehicles are being secured to minimize any losses related to theft or vandalism while the vehicle isn’t being used.
5. Review accidents and consult your Risk Control specialist.
Take time to review accidents involving your company’s fleet vehicles to help you pinpoint your risk exposures, identify trends, manage accident costs, and take action to avoid future accidents.
Additionally, ask your independent insurance agent about loss and risk control services that may be available to you through your commercial insurance provider. Some insurance companies, including Grange Insurance, offer Risk Control Services to their commercial insurance customers, providing expert risk management services including formalized safety programs, training and help identifying, analyzing and addressing business’s unique risks.
This article is for informational and suggestion purposes only. If the policy coverage descriptions in this article conflict with the language in the policy, the language in the policy applies.
What is a Qualifying Event and Why Does It Matter?
Shield Insurance Blog | Qualifying Event | Health Insurance | Contact Bri Today!
The terms Qualifying Event, Special Enrollment Period, and Open Enrollment Period get tossed around in conversation when discussing both employer-sponsored benefits and individual health insurance plans.
The timeframes in which you can alter your benefits through a company or for your own individual policy are limited to certain times or events of the year. For employer-provided benefits, the time of year to make changes, add, or remove coverage for yourself and family members is called open enrollment and is managed by Human Resources. It’s “open” because these adjustments are made at the employee’s discretion. If you purchase your own health insurance through a private insurance company or the Health Insurance Marketplace (Obamacare), open enrollment takes place each year starting November 1st and ending December 15th. Any changes from this timeframe go into effect as of January 1st of the following year. Outside of these timeframes, your benefits are locked in until the next enrollment period. But what happens if you need to make changes at another time due to a qualifying event?
What is a Qualifying Event?
A Qualifying Event is a life circumstance that allows someone to make changes to their insurance coverage outside of open enrollment for both employers and individuals. A Qualifying Event is a reason to have a Special Enrollment Period or midyear change. The allowed timeframe for reporting these changes or updating coverage is between 30-60 days from the date of the event. If you have missed this timeframe, you may not be allowed to make changes. Some examples of qualifying events are birth, marriage, divorce, or loss of other coverage. If you have questions about your own coverage or coverage through an employer, we are here to help!
If you have any questions or would like to explore your options for health insurance, it is always a good idea to contact your insurance carrier or speak with an insurance agent. Shield Insurance Agency represents over 40 insurance companies and can provide you with a free quote and personalized advice. Contact Shield Insurance Agency at (616) 896-4600 for a free quote today or start the quoting process by visiting this LINK and an agent will be in touch soon.
Insurance Companies respond to Covid
Shield Insurance Blog | Covid |
There is a wealth of information in this article and too much to post, but please check it out as the Health Insurance Companies are listed A-Z and each one explains HOW they are responding to the Covid Crisis.
Insurance Companies response to Covid
The health and well-being of millions of Americans remain our highest priority. Health insurance providers are committed to helping prevent the spread of COVID-19. We are activating emergency plans to ensure that Americans have access to the prevention, testing, and treatment needed to handle the current situation.
Here are some ways health insurance providers are taking action:
Healthcare Insurance Coverage for Business 2021
The pandemic has made everyone acutely aware of the need for healthcare Insurance coverage. Small businesses struggling to survive are challenged to find ways to offer health coverage as a fringe benefit to employees. Premium costs are high.
Nonetheless, there are several ways in which small employers can help employees get coverage for the upcoming year.
5 Things to Know About Healthcare Insurance Coverage in 2021
Don’t wait until the last minute to explore your options. Here are 5 things to keep in mind.
1. Coverage Requirements for ALEs
If you have at least 50 full-time and full-time equivalent employees, you are an Applicable Large Employer (ALE) subject to the employer mandate under the Affordable Care Act. This means you must offer minimum essential health coverage that’s affordable to your full-time employees or pay a penalty. What’s affordable Healthcare Insurance? The IRS has released this information for 2021. The cost to employees can’t be more than 9.83% of household income in 2021.
2. HSAs
Health savings accounts (HSAs) allow individuals to cover their out-of-pocket costs. But to make contributions—whether by employers or employees—to such accounts, individuals must be covered by a high-deductible health plan (HDHP). For 2021, this means insurance with a minimum deductible of $1,400 for self-only coverage or $2,800 for family coverage and a cap on out-of-pocket expenses (deductibles, co-payments, and other amounts other than premiums) not exceeding $7,000 for self-only coverage or $14,000 for family coverage.
If you have group insurance that is an HDHP, then you can decide whether to contribute to employees’ HSAs. If not, then employees can choose to make deductible contributions to their accounts for 2021. More information about HSAs is in IRS Publication 969.
3. HRA Options
Health reimbursement arrangements (HRAs) facilitate tax-free reimbursements to employees. While the business can deduct these reimbursements, they aren’t subject to employment taxes. For 2021, consider these HRA options:
- Qualified small employer health reimbursement arrangements (QSEHRAs). These plans reimburse employees for premiums on their individually-obtained coverage up to a set dollar limit ($5,250 for self-only coverage or $10,600 for family coverage in 2020).
- Individual coverage health reimbursement arrangements (ICHRAs). These plans also reimburse employees for their premiums on individually-obtained health coverage. The law doesn’t cap the reimbursement; it’s up to the employer to fix this amount (on a nondiscriminatory basis).
- Excepted benefit health reimbursement arrangements (EBHRAs). These plans help pay for certain benefits, such as dental or vision care, not otherwise covered by a general insurance policy. Reimbursement is capped up to a set dollar amount. The cap for 2021 has not yet been announced (it was $1,800 for 2020).
More information about HRAs is also in IRS Publication 969.
4. Premium-only Cafeteria Plans
If you don’t provide a Healthcare Insurance plan or do have a plan (including an HRA) but you don’t pay all of the cost, you can enable employees to pay all or the balance of premiums on a pre-tax basis. The plan must offer employees a choice between cash or reimbursement for health insurance coverage. If they choose the coverage, the amount of what they’d pay for premiums that are withheld from their paycheck is not treated as taxable compensation to them. There are no employment taxes on this benefit. If, however, they choose the cash option, it’s taxable compensation.
5. Notice Requirements
Employers offering a Healthcare Insurance plan are required to give notice to employees about their participation and what’s involved. Depending on the plan, notice may include providing a summary plan document.
Generally, notice is required to be given 90 days before the start of the plan year. So, if the plan year starts on January 1, 2021, notice must be given by October 3, 2020.
Conclusion
Start shopping now for Healthcare Insurance. Contact the Shield Agency expert Carlos Garcia or another tax advisor to find ways to make this benefit available to employees without busting your budget. And be sure that whichever option you use that you do so in compliance with the law.
Health Insurance Requirements for Small Businesses
As a business owner, it can be challenging to keep up with changing rules and regulations, especially those related to health insurance.
What are the essential insurance requirements you need to know for this year? And what are the advantages of offering small business health insurance? Keep reading to learn what your employer obligations are for group health insurance requirements in 2020.
Are employers required to offer small business health insurance in 2020?
Even with the now-repealed Individual Mandate from the Affordable Care Act (ACA), employers were never required to provide small business health insurance. According to the insurance requirements of the ACA, employers with less than 50 full-time employees are considered to be small businesses and are still not required to provide group health insurance coverage to their employees in 2020. However, businesses with 50 or more full-time employees (applicable large employers, or ALEs) are still required to provide health insurance to their workers or face penalties in 2020.
How can employers qualify for the small business health insurance tax credit?
Although it is optional for small businesses to offer group health insurance, employers may be able to benefit from the health care tax credit. A small business can usually qualify for the tax credit if it meets the following insurance requirements:
- The small business has 25 or fewer full-time equivalent (FTE) employees.
- Employees are paid an average salary of no greater than $54,200 (in 2019).
- The small business pays at least 50 percent of employee premiums.
- The small business buys a SHOP Marketplace Plan on the Marketplace, or from a partner such as Ehealth.
Smaller businesses can generally be eligible for a higher health care tax credit. For instance, a business with less than 10 employees and an average salary of less than $25,000 would qualify for the highest tax credit. Overall, the health care tax credit may help make the purchase of group health insurance more affordable for small businesses while ensuring that their coverage meets ACA insurance requirements.
How can employees save money?
Small businesses can still purchase group health insurance even if they do not qualify for a health care tax credit. For instance, small employers may still be able to deduct the cost of contributing to monthly employee premiums from their federal taxes as a business expense.
Since group health insurance is employer-sponsored coverage, small businesses can also ask employees to pay for a portion of monthly premiums (typically 50 percent or less) from out of their paychecks while still fulfilling employer cost-sharing requirements and ACA health insurance requirements. Browse affordable small business health insurance plans with eHealth to find the best options for your business.
What are small business requirements related to tax reporting in 2020?
There are certain tax reporting requirements for small businesses to keep in mind for 2020.
- If your company decides to offer group health coverage after meeting insurance requirements, you must report the value of the insurance provided to each employee. This information goes on the employee’s Form W-2 using the code DD, as per IRS requirements.
- According to the IRS, your business is required to withhold and report an additional 0.9 percent on employee compensation that is greater than $200,000, as per the ACA.
- Your small business also must pay a fee toward funding the Patient-Centered Outcomes Research Trust Fund. You are required to report this fee through Form 720.
Why should employers offer small business health insurance?
Although in some cases, offering health insurance is beyond typical employer requirements, there are several advantages to offering a group health insurance plan to your employees.
- Retaining and attracting employees – Providing group health insurance coverage may help your small business recruit better employees while also helping keep your best current employees. In a competitive talent market, offering health insurance as part of a compensation package may be an appealing incentive for people to join your company.
- Helping your business stand out – According to the Bureau of Labor Statistics, only about 55 percent of companies with less than 100 workers offered medical benefits through small business health insurance. Employees frequently sign up for group plans, even when they have to pay for part of the premiums.
- Building a healthier workforce – When employees have health insurance, they may take less sick days and could help your small business be more productive. By having access to many health care resources, your employees can proactively attend to their medical needs with fewer disruptions to their work schedule.
Overall, offering group health coverage may be a worthwhile investment for your small business, regardless of your employer’s requirements.
Where can employers find small business health insurance?
As a small business employer, you quickly can find group health insurance coverage through eHealth. With eHealth’s online marketplace, you can easily compare group medical plans from multiple health insurance companies, including plans which may not be offered on the exchange. By quickly entering your number of employees and the company’s ZIP code, you can instantly get quotes for small business health insurance.
To explore all of your insurance options, browse our affordable small business health insurance plans or speak with one of our licensed health insurance agents today.
This article is for general information and may not be updated after publication. Consult your own tax, accounting, or legal advisor instead of relying on this article as tax, accounting, or legal advice.
For assistance with your small business health insurance, contact our specialist, Carlos Martinez Garcia | P: 616-777-3017 | Fax: 616-896-4601
Is Work Life Insurance Enough?
Is the life insurance you have at work enough? 3 ways to tell
If you work full-time, chances are you have some life insurance through your employer — 75% of full-time workers in the U.S. have access to life insurance as an employee benefit and 98% of those workers are covered.1 But is it all the life insurance coverage you need?
Many people mistakenly think it is, even though they could benefit from having their own life insurance outside of work.
Here are three things to consider:
1. Is it enough coverage?
If your employer offers life insurance and you signed up for it, at least you have some coverage. That’s better than no coverage. But it might not be enough to give your family the funds they need to make ends meet if the worst happens to you.
Research shows that one of every three families would be in financial trouble in less than one month if they lost a primary wage earner — and the percentage grows to 70% within six months.2
You can help your family avoid this hardship by making sure you have enough life insurance to replace your paycheck as long as needed (for example, until the kids leave home or the mortgage is paid off).
Your employer may limit the amount of group coverage available to you, leaving you short.
2. You can’t take Life Insurance with you.
Even if you can get enough coverage through your employer, that coverage may end before you want it to — and may end suddenly
Group life insurance is an employee benefit that usually ends when your employment ends. Even if you’re going to a new job immediately, you may not be eligible for benefits right away — if the new employer offers it at all. And, if you lose your job to a lay-off, downsizing, or firing — or if you retire — it might be a while before you can replace the coverage.
If your strategy is to buy individual life insurance later, keep in mind, that your health, driving record, and credit history must remain solid in order to qualify for it. Also, coverage generally costs more as you age.
3. No extra benefits or cash value.
Employer coverage is usually affordable and reliable. But it’s also usually pretty basic, meaning it doesn’t accumulate cash value over time or have any extra benefits under your control
- Cash value. An individual policy you buy from an insurance agent can last for life — usually up to age 100 or 120 — and, depending on the type of policy, can build up a cash value that you can borrow against or use to pay part of the cost of the policy. Employer group plans don’t offer these options.
- Extra benefits. These days, many individual life insurance policies offer additional benefits during the living years. These include features that provide part of the death benefit early if the insured person is diagnosed with a terminal illness or needs long-term care. Another feature can extend coverage to others in the family. These extra benefits may carry an additional cost, but that cost may still be lower than stand-alone coverage.
For these reasons, it might be wise to think of employer coverage as a supplement to your own individual policy, instead of relying on it as your only source of life insurance coverage. That puts you in the driver’s seat to choose the type and amount of coverage that’s right for you — and that can be customized to your needs.
1 – National Compensation Survey, Employee Benefits, Bureau of Labor Statistics, 2018
2 – Insurance Barometer Study, LIMRA, 2017
Contractor Checklist and Tips for Hiring
Contractor Checklist and Tips
As you plan your next home renovation project, choosing the right contractor for the job is a critical first step in your planning process. You want to make a contractor checklist and be sure you vet the quality of their work in advance, spell out in writing what work you want to be performed and agree upon the scope of the project, and inquire whether the contractor is properly licensed and insured in case something goes wrong.
This checklist compiles the top 10 tips to consider when selecting a contractor:
1. Get Multiple Estimates
Talk to several contractors and get written estimates from at least three. Make sure you’re comparing apples to apples when you get multiple estimates. Look at building materials, work methods, timelines, and other factors that may vary by contractor. Be cautious of estimates that are too high or too low.
2. Hire Local, Licensed Contractors Whenever Possible
Local contractors are easier to contact if problems develop with the work in the future, and they are more likely to be familiar with building codes in your area. Ask the contractor for their local, physical address. Be suspicious of anyone who goes door-to-door or refuses to leave a contract overnight.
3. Check Their Past Work
How has their work turned out in the past? Do they specialize in the kind of work you want to be done? Check references about the quality of their products, their workmanship, and their customer service. Inquire about their professional reputation and years in business with the Better Business Bureau. A contractor with more than five years of experience is preferable.
4. Take Your Time Making a Sound Decision
Get multiple bids before making a decision. Don’t be pressured into making an immediate decision, particularly with regard to signing a contract. Be cautious when asked to pay a large deposit upfront. Make sure to read the fine print on all estimates and contracts. If you’re having emergency repairs done and don’t have time to thoroughly research a contractor, ask neighbors, family or friends to see if they have had a good experience with an emergency services contractor.
5. Check Their Insurance and Bonding
Make sure the contractor is properly insured and bonded. Ask the contractor for a certificate of insurance (COI), which should provide the name of the insurance company, policy number and policy limits the contractor carries. You can contact the insurance company directly to verify the coverage and make sure the policy is still in effect. Do not do business with a contractor who does not carry the appropriate insurance coverage. If the contractor is not insured, you may be liable for accidents that occur on your property.
6. Get Everything in Writing
Secure a comprehensive contract before work begins. Get everything in writing, and make sure the contract is clear and well written. Consider having a lawyer review the proposed contract for your protection before you sign it if the project involves substantial costs. The contract should include:
- A detailed description of the work to be completed and the price of each item.
- A payment schedule – for example one-half down and one-third when work is partially completed, and the balance due upon completion of repairs.
- The estimated start date and completion date on larger projects.
- Any applicable guarantees, which should be written into the contract and clearly state what is guaranteed, who is responsible for the guarantee, and how long the guarantee is valid.
- Signatures from both parties. You should never sign a contract containing blank sections.
Changes to the contract should be acknowledged by all parties in writing. Ask the contractor for confirmation that he or she has obtained all applicable building permits. If you decide to cancel a signed contract, you should follow the contract’s cancellation clause. Written notification of the cancellation should be sent by registered mail to ensure you have proof of the cancellation.
7. Understand Your Right to Cancel
Federal law may require a “cooling off” period, in which you can cancel the contract without penalty. Check with the Federal Trade Commission and the laws of your state to understand your rights. Be sure to follow applicable rules during the cooling-off period. If you do cancel, consider sending the notice of cancellation by registered mail to ensure you have proof of the cancellation.
8. Don’t Pay Up-Front
Don’t pay for the entire project before it is completed. Make sure you make checks payable to a company, not an individual and do not pay in cash. For larger projects, it is standard practice to pay one-third of the estimated costs as an initial payment. That way, you can retain your cashed check as a receipt.
9. Anticipate Delays
Delays happen, and may not be the fault of your contractor. In spite of the timeline outlined in your contract, circumstances such as weather may prevent the work from remaining on schedule. Be realistic and prepare to adjust your plans accordingly.
10. Keep a Job File
Keep your contract and all the supporting documents in one folder. Your file should also contain the contractor’s checklist, any change orders, plans and specifications, bills and invoices, canceled checks, and certificates of insurance, and any letters, notes, or correspondence with the contractor.
Learn more about Travelers home insurance, you can fill out this form, or give us a call or text at 616-896-4600 and we’ll get you started. We even offer insurance for the Contractor.
Independent Agents vs. Captive Agents
When you’re in the market for insurance, whether it’s home, auto or commercial insurance, you typically work with an agent who can help you find a policy that meets your needs. But most people don’t know that there are two different kinds of insurance agents—captive and independent agents.
So what is an independent insurance agent vs. a captive insurance agent? In short, captive insurance agents are contracted to work for one insurance company and can only sell that company’s policies. On the other hand, independent agents are contracted to work with a variety of insurance companies and can sell policies from multiple providers.
As a consumer, it’s important to understand the distinctions between captive and independent agents. Although they sound the same, some people may benefit from working with a captive agent and others with an independent agent. In this article, we’ll explain the key differences and help you decide which agent is best for you.
Captive Agents
Most of the major insurance companies, like State Farm, Allstate and Farmers, use captive agents to sell their insurance products. Their agents are only selling policies from that one insurer, so the agents are experts at knowing the different policies available, discounts and coverage add-ons for their one carrier.
Because of that, they can be helpful for people who are buying insurance for the first time or for people who aren’t sure how much coverage to purchase.
Client satisfaction is crucial for captive agents because they get a commission for every earned sale. However, their commission rate tends to be lower than for independent agents because they are also paid a salary from the insurance company and get financial assistance with costs like advertising and hiring.
Independent Agents
Independent agents partner with several insurance companies of their choosing to sell certain policies from each provider. For example, an independent agent might contract with Pioneer Insurance, Frankenmuth Insurance,and Citizens Insurance and sell any of their auto and home insurance policies.
Many consumers like working an independent insurance agent because an independent agent gives the customer more options. They aren’t locked into purchasing from a small number of plans that might be too expensive or not a great fit for their coverage needs. Those options help people shop around for plans before settling on one.
Which is better?
Generally speaking, there isn’t one better type of insurance agent. Whether you choose to work with a captive agent or an independent agent depends on you.
The main benefit of working with a captive agent is that they have extensive knowledge of their insurers products and policies, because they have one carrier. However, working with a captive agent tends to be more expensive, due to extra fees that the insurance company charges.
If you work with an independent agent, you’ll get more options, which also means a wider price range. But independent agents have in-depth knowledge about numerous carriers, where captives only need to learn one. Also, independent agents usually charge less because there isn’t one parent company to support.
If you’re concerned with keeping costs low, working with an independent agent will save you money. Keep in mind that you should already have a general idea of what you’re looking for before meeting with an agent.
Frequently asked questions
What type of insurance do independent agents and captive agents sell?
Both independent and captive agents can sell any kind of insurance they want. Some choose to sell every product that an insurer offers, while others specialize in a few areas, like home and life insurance.
Should I choose an independent agent or a captive agent?
There are a few main reasons why you would choose an independent vs. a captive agent. The first is cost—working with an independent agent will be cheaper than working with a captive agent. Secondly, independent agents can offer a wider variety of plans, so you have more choices and a wider price range to work from.
