Not all insurance providers are created equally. Whether you’re insuring your first rental or managing a growing portfolio, understanding the difference between captive agents, independent agencies, brokers, and carriers can make or break your coverage. Watch the video below to learn more about each providers’ capabilities and general process.
Transcript:
When it comes to insuring your investment properties, who you work with matters. But it’s not always clear which type of provider is the right fit.
Captive insurance agencies are tied to a single carrier–think larger, brand-name providers. Their agents work directly for that company and can only offer its insurance products.
Independent insurance agencies employ licensed agents as well, but they aren’t limited to just one carrier. Their market access and authority to bind policies make it easier to customize coverage for investors.
Brokers are licensed intermediaries who shop policies from multiple carriers on behalf of their clients. However, they typically can’t bind coverage themselves and must go through an agent or carrier for approval.
Carriers, or insurance companies, are the entities that underwrite and back the policy. They set rates, coverage terms, and pay claims–but most carriers don’t sell directly to consumers.
Each type of provider has unique capabilities, but not all offer the same insight, access, or authority. The right insurance partner will help protect your investments with coverage tailored to your needs.
National Real Estate Insurance Group acts as an independent agency and program administrator, offering real estate investors specialized coverage through our network of trusted carriers.
Explore our comprehensive coverage options today.
