What are the two types of insurance agents?

What are the two types of insurance agents?

There are two types of insurance agents: Captive agents typically represent only one insurer. Independent insurance agents typically represent more than one insurer.

What are the four most common settlement options?

The four most common alternative settlement approaches are: the interest option, under which the insurer holds the proceeds and pays interest to the beneficiary until such time as the beneficiary withdraws the principal; the fixed period option, under which the future value of the proceeds is calculated and paid in …

What can you do to lower your insurance premium?

Listed below are other things you can do to lower your insurance costs. Shop around. …Before you buy a car, compare insurance costs. …Ask for higher deductibles. …Reduce coverage on older cars. …Buy your homeowners and auto coverage from the same insurer. …Maintain a good credit record. …Take advantage of low mileage discounts. More items…