Insurance Broker. Insurance brokers generally sell policies directly to individuals and businesses, and they earn money through fees earned through the insurance policies that they sell. The insurance broker sets your premiums, which are based on an estimate of what you'll likely need in the event of an accident or the death of the insured person, in your insurance policy. Premiums will vary depending on your age, health, medical history, driving record, etc. Your premium is an investment in the future of your loved ones' well being, so it's important to consider carefully exactly who is going to be paying it, and how much. A lot of the time, the agent or insurance brokeris paid by the company whose coverage you're looking to purchase. If that's the case, then it's the insurer that dictates the insurance broker's commission. However, even though you may pay the most expensive premiums, you may not get the best price. This is because insurance agents often work on commission and are therefore only as good as the clients that they attract, and the amount of sales they can drum up. For this reason, there are many online insurance brokers that can offer you the best price and the most coverage. Continuing Education Courses. There are also insurance brokers who do not work for the companies they represent but rather represent other third party companies as well. In this case, they are not insurance brokers per se, but instead cheap insurancebrokers who provide coverage to their customers. Online continuing education courses are an excellent way for you to obtain additional coverage at a lower cost. Once you have narrowed down your list of top prospects to two or three candidates, then you should contact them to discuss whether you would be a good fit for a particular company. To do this, you simply have to call the brokerage that you are interested in hiring, or if you have previously been employed by a broker then talk with them directly. Ask them about their current deals and any discounts that they may offer you for qualifying for the coverage. If you end up choosing one of the insurance brokers from the online list, you should now contact them and find out how much they would charge you for providing the coverage you want. Insurance agents earn their commission based solely on the clients that they manage to sign up and sell the policies to, so they will not raise their rates if you are unhappy with your insurance broker. On the other hand, continuing education courses can help you save money and get the best coverage for your family at a more affordable price. Remember, when interviewing potential insurance brokers, it is important to choose those who will be the most knowledgeable about the coverage you need. You can do this by making sure that you ask them how much training and education they have had. In addition to that, find out if they have any special training or accreditation for dealing with younger clients. By doing this simple research you are ensuring that the agent that you choose is the best insurance broker for you and your family. With the extra time and knowledge you have gained over the years, you can make better informed decisions and ultimately get the best insurance policy for your needs. See post, visit https://www.encyclopedia.com/economics/news-and-education-magazines/insurance-agent-and-broker.