Obtaining an insurance proposal from an online broker is extremely easy and a great way to get a sense of how the rates from different insurance companies will vary based on gender, age and specialty. But before moving forward to submit an application there are a few issues you should consider to make sure you’re getting the most objective recommendations about the coverage that best addresses your needs.
The ability to submit an application requires the involvement of a licensed insurance agent and it’s important to understand who these individuals are and their relationship with the online quote engines.
While some online quote engines will maintain their own dedicated team of insurance professionals, others rely on contracted insurance agents who have agreed to pay an ongoing fee or commission split for the ability to secure your information.
If this is the case, there’s no way to know if this insurance agent was chosen because of the amount of money they agreed to pay or a commission split arrangement based on insurance recommendations they make.
Oftentimes you will not be able to prequalify the experience these individuals have working with physicians, where they are located and if they may bring a bias to their recommendations due to being employed by one of the companies being presented to you.
Is it an independent quote engine or a marketing tool created by an insurance broker or company?
As the expression goes, the devil is in the details and it’s important to read the fine print on these websites. In many instances, these sites have been created by representatives of a specific insurance company as a prospecting tool. This isn’t a reflection of their professionalism, experience or the products they recommend, but it’s important to understand who you are buying from and why they might be promoting a specific product.
