Although the insurance company manages the claim, independent agents often are the point of contact for insureds and play a crucial role in the claims process.

What is a personal lines insurance agent?

A personal lines licensee is a person authorized to transact automobile insurance, residential property insurance, including earthquake and flood insurance, personal watercraft insurance and umbrella or excess liability insurance providing coverage when written over one or more underlying automobile or residential …

How are independent insurance agents paid?

Independent agents are paid primarily on commission. The more clients they serve, the more money they make. And as those clients renew each year, independent agents continue to make commissions of those policies. In general, however, independent agents receive larger commissions than captive agents.

Can insurance agents lie?

In California, where agent negligence causes the loss of policy benefits, a claim may lie against the agent for the amount of lost benefits. The basis of such a claim is the agent’s negligence in procuring the requested insurance coverage for you.

What are major lines of insurance?

Four Major Lines of Insurance

• Property.
• Casualty.
• Life.
• Health and Disability.

What does adding a line of authority mean in insurance?

Line of authority means a line of insurance of a particular subject matter area within a license type for which the commissioner may grant authority to do business.

Who are the insureds on personal lines insurance?

On a personal lines policy, the Named Insured will be an individual or a married couple. For the business policy, there are a variety of entity types (sole proprietor, partnership, limited liability corporation, corporation, etc.) that could be listed as the Named Insured.

When to write property insurance for personal lines?

When writing property coverage for personal lines consumers, agents are typically looking to cover homes and their contents.

Who is the owner of an independent insurance agency?

Terry O’Reilly has worked in the insurance industry since 1982 with experience in property & casualty and life insurance sales, captive and independent retail sales operations, district sales management, and running an independent agency network. Adam oversees commissions and all financial related items for Insurance Pro Agencies.

Do you own your own GEICO Insurance Agency?

As a GEICO Local Agent, you own a local GEICO insurance agency and are an independent contractor exclusively writing business for GEICO and affiliated companies. We’re looking for motivated, hardworking, competitive sales entrepreneurs in many available markets.