If you're looking to pursue a career in the insurance field, it's important to understand the differences between an insurance agent and a broker. An insurance agent is licensed to sell and negotiate life, health, property, or other types of insurance offered by an insurance company. They can work for a single insurance company or represent multiple companies. On the other hand, brokers are not representatives hired by insurance companies to represent them. They work for the person trying to buy insurance and that person pays them.
In order to become a licensed insurance agent, you must complete training courses to learn about general insurance or have some experience in the field. You will also need to pass the state insurance license exam. Insurance producer, adjuster and title exams are now available at six locations across the state. Most companies that make adjustments don't allow you to have an agent's license and an appraiser's license because there are conflict of interest issues.
If you are going to work in an independent agency, you will have to be named by all the insurance companies you want to sell products with. Many agents start with a few limited lines of insurance before adding additional licenses and increasing the number of policies they can sell. For example, in some states you can choose to apply for a license to sell only life insurance, or you can apply for a more comprehensive license that covers health, accident and life insurance. Yes, those who take the insurance exam for the first time should have their fingerprints taken. Applicants with an existing license or who are adding a new line do not require that their fingerprints be taken.
Licensed insurance agents usually specialize in one or two types of insurance, such as auto and home insurance or health and life insurance. Personal lines include insurance products that protect people against financial loss as a result of injury, death, property damage, and loss of property. For more information on licensing requirements in all 50 states, see the National Registry of Insurance Producers website.
If you're looking for a career in the insurance field, it's critical that you understand the differences between a broker and an agent to ensure that you get the right license for whatever position you seek. With the right knowledge and preparation, you can become a successful licensed insurance agent.
