Understand how the fees and commissions you pay your insurance broker compare to similar companies.
Insurance brokerage compensation can be made up of fees, commissions and bonuses from insurance companies. Make sure you know how much you are being charged and that your incentives align.
You may hear “it doesn’t matter to me, I make the same no matter who you choose” – that is not accurate. Brokers are most often paid “supplemental compensation” by carriers and annual incentives. Make sure all compensation is disclosed to you.