Insurance is for protecting your life or property that may create financial hardship due to death, disability and other insurance perils. Insurance is for financial losses that you cannot bear on your own. Such as loss of life of the breadwinner of the household. Others such losses to property for such things as fire or theft.  

By purchasing insurance you transfer part of the risk to others in exchange for a premium. Prices can vary depending on the kind of insurance and numerous variable. Too many to cover here. For advice consult with a professional.

And, for lenders who provide loans for such things as autos, homes and more. The insurance provides them with a certainy that if the property is lost, stolen or destroyed that their collateral for the loan is indemnified. The exact perils that are covered should be explained by a professional. 

For some loans, keyman insurance, disability insurance or executive life is required for large business loans. 

WHO DO YOU BUY INSURANCE FROM?

Insurance is distributed in many forms. For examples, Insurance Agents, Insurance Brokers, Direct to Insurance Companies and Wholesalers.

For the Insurance Consumers, they often refer to having an Agent or Broker. Generally, the Insurance Agent or Insurance Broker are the “professionalS & licensed” individuals that will “review and consult” with the consumer, quote and if acceptable to the prospect, bind coverage according to the terms & conditions set forth by the carrier or it’s Managing Genral Agent.  

In contrast, “Insurance Companies that write direct” will quote and issue but rarely provide advice and consulting to the Consumer.

For Consumers access to buy insurance from Managing General Agents and Wholesales is not allowed unless they happen to work as Retail agencies too. Retail meaning they work directly with the Consumer. Generally speaking their method of distributing insurance is through the Retail Agents and Retail Brokers.

For all buyers of insurance it is recommended that you use the theory of Caveat Emptor, buyer beware. Check the license of the professional and double check the insurance history as well. We placed a link on the side of this page that will take you to your State Department of Insurance. 

Happy Shopping. Please contact us regarding this site. We cannot offer insurance advice or recommend any particular professional. 

S Valencia – Administrator for iCanQuoteIt.com.