How to Strategically Shop for Multiple Insurance Quotes 

You may have worked with the same agent for years but are curious about other options that could save you money, improve coverage, or offer value-added services. Or perhaps you’ve tried getting quotes from multiple brokers in the past but found the process frustrating. Managing this process strategically is key to ensuring the best outcomes for your business. 

Two Ways to Get Multiple Quotes 

If you’re committed to getting quotes from multiple brokers, consider these two methods: 

  1. Free-For-All Approach 
  1. This method allows brokers to access carriers on a first-come, first-served basis. While quick, it often results in one broker monopolizing the best carriers, leaving others at a disadvantage. 

We don’t recommend this approach because it minimizes the importance of broker expertise, creativity, and alignment with your business needs. 

  1. Market Assignment Approach 

This approach is more time-consuming but yields better results. Like a football draft, brokers provide prioritized lists of carriers, and you assign carriers to brokers strategically. 

This method encourages fair competition and ensures the most qualified brokers have access to top carriers, unlike the randomness of the free-for-all method. 

The End Goal 

Seeking quotes from multiple brokers can be a healthy practice occasionally. However, doing this at every renewal likely means you haven’t found a broker you trust. A single broker relationship allows for a deeper understanding of your business risks and a more tailored coverage plan over time. 

Find Out How We Are Different 

At Swarts, Manning & Associates, we pride ourselves on long-term client relationships. As insurance design specialists, we offer unique perspectives on coverage and carrier recommendations tailored to your needs. 

We are currently offering a complimentary call to discuss your specific situation. Get started by filling out your contact information here or call us at (833) 878-2820. 

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