An Auto Insurance Agency is an institution or organization which has a license sanctioned by a state and has the authority of the Automobile Insurance Company for selling Auto Insurance Policies. The Auto Insurance Agency is assumed to be the representative of the Automobile Insurance Company.
They provide services and solicitation to Automobile Insurance Policyholders. The Auto Insurance Agency is responsible for facilitating the customers to choose the right Auto Insurance Policy. Auto Insurance or Automobile Insurance (also known as Vehicle Insurance, Motor Insurance, or Car Insurance) certainly is the most basic type of insurance.
Auto Insurance offers coverages for legal obligation claims made against the driver and damages or losses occurring to the insured automobile. In maximum parts of the United States, it is mandatory to have an Automobile Insurance Policy to drive a car on state highways or public highways.
It is always convenient to purchase Auto Insurance Policies from Auto Insurance Agencies because a large number of reputed Auto Insurance Companies function through their nationwide network of local agents.
However, Auto Insurance can also be purchased over the telephone or Online.
The Auto Insurance Agency usually carries out its operations through two types of agents:
- Captive Agents: A Captive Agent is the representative of only one insurance company (Leading Auto Insurance Providers like AAA, State Farm, and Allstate market their Auto Insurance Policies with the help of Captive Agents.
- Non-captive Agents or Independent Agents: An Independent Agent is also termed as a broker. He is the representative of a large number of Auto Insurance Companies and he does not hold any vested interest in marketing an Automobile Insurance Policy to a person from a specific Automobile Insurance Company.
Before buying an Auto Insurance Policy, it is always better to check the credit ratings of that insurance company. Both A.M. Best and Standard & Poor’s credit ratings are dependable for assessing financial strength.
The Leading Auto Insurance Agencies include the following:
Eastside Insurance Agency
Lincoln Insurance Agency, Inc.
Pennsylvania Insurance Company
Payne Insurance Agency
Texas Auto Insurance Agency
Atlanta Auto Insurance Agency
Nationwide Car Insurance
AIG (American International Group)
Farmers Insurance Group
Metropolitan Life Insurance Company
State Farm Mutual Automobile Insurance Company