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Is My Insurance Broker's Agency Too Small?

Nope. The beauty of how American insurance agencies are regulated is that the insurance companies are specifically barred from offering financial incentives to brokers. When the insurance company pays the broker, they pay a fee, either a percentage or a set amount, and can't deviate from that agreement. They absolutely cannot offer a broker a discounted rate to provide to a specific client. Recent legislation has increased financial transparency among brokers and carriers even more. What this means is that a small brokerage can offer exactly the same kinds of savings to the client that the large brokerage does. Brokerages of all sizes find great prices for their clients with many different insurance carriers, without any extra pay-offs needed. Brokers are, after all, individuals and they all follow the same state and federal rules, no matter what size their office is. An independent broker can work just as successfully out of a home office as from a shared office suite. It is true that smaller brokerages tend to specialize in fewer areas of insurance, for instance, just Auto & Home insurance, while larger firms cover a greater variety of types of insurance, like Auto, Home, Boat, Business and Life insurance. What it really boils down to is personality. Being able to work with someone on a personal level is an important part of choosing a broker. If you like your broker, go with that broker. Don't be intimidated or swayed by the size of the company.