No One Takes Care of You Like A State Farm Agent. Get A Quote Today!
Key Terms Relating to Independent Insurance Agents
When searching for the best insurance quote, the first place to start should be with an independent agent. Independent agents and brokers are able to search for the lowest price on a particular coverage through multiple carriers. An agent or broker may work for an agency that provides specific insurance coverages, such as auto or health. The following are key terms you should be familiar with before choosing an agency.
Coverage - The amount of protection that your insurance policy gives you. This term applies to auto, home and health insurance among others.
Collision - A type of auto insurance coverage that handles damage to your vehicle in the event of an accident with another motorist.
Comprehensive - A type of vehicle insurance that includes collision, personal and property liability coverage. This will also take care of damage that results from hitting a deer or acts of Mother Nature.
Copayment - A fixed amount that you must pay for every doctor or dental office visit. This can vary based on your insurance policy.
Deductible - A fixed amount that must be paid by the client in the event of an insurance claim. After the deductible is paid, then the insurance company will cover the rest of the cost that results from the damage. You can usually opt for a lower deductible by paying a higher premium or vice-versa.
Total Loss - A term that refers to an auto insurance claim in which the cost to repair the vehicle is more than the current blue book value of the car.
The IPA supports independent insurance agents the country over. We realize the importance of organization and advocating for agents, while keeping them informed, educated and networking with other agents.