Do insurance brokers sell insurance higher than insurance agents?
Chris nailed the answer, but let me explain why it seems some brokers are more expensive. There are times when brokers are niche agents. They work within a select line or coverage and really know their stuff. When an agent gets really good at something, they usually get a little more preferential treatment at a company because when they bring a risk to a company they have it all neatly put together for the underwriter. Sometimes these brokers are specializing in the hard-to-place markets (hazardous waste handlers, high-rise building, etc). Because of the narrow fields and the riskier classes, the pricing is higher. This type of broker typically works with other general agents/brokers and takes over on their accounts to place the one piece of business that is hard. They will pay back to the agent a piece of the commission that they get from the company (sharing the one commission). Hope this helps.
