Insurance Company vs Insurance Agency – these terms are thrown around synonymously all of the time. Yet they are two distinctly different entities.
What is an Insurance Company?
Insurance Company is who you pay your premiums to. Your Insurance Agent may take the money from you, but the Insurance Company is who ultimately receives payment.
Your contract for insurance is with the Insurance Company. Keep in mind it is a bilateral contract. Both you and the Insurance Company have agreed upon the terms and conditions of the insurance contract.
The Insurance Company is who pays claims. They are the entity who will make you whole again after a loss.
READ MORE: Why Choose an Independent Insurance Agent?
What is an Insurance Agency?
JBLB Insurance Group is an example of an Insurance Agency.
We are advisors. We are advocates. We provide guidance. We are a resource for our customers.
We will craft a policy to meet your individual or business needs.
We will:
- Negotiate terms of your policy with the Insurance Company.
- Help you interpret policy language.
- Go to bat for you.
The aim is the make sure you’re protected at the time of a loss.
That’s the different between an Insurance Company versus an Insurance Agency.
