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What is an Agent of Record (and why do I need one)?

The world of insurance can be challenging to navigate, whether you're an individual homeowner or a member of a Home Owners Association (HOA) Board, serving as a fiduciary to your community members. When looking for the most competitive insurance package that provides just the right levels of coverage, having an "Agent of Record " (AOR) you can trust to clearly explain your options is critical.

So what exactly does signing an "Agent or Broker of Record" agreement do for me?

Well, if you're an individual homeowner who is unhappy with your current level of customer service, you can sign an Agent of Record (AOR) agreement with your preferred Wren Insurance Agent, giving them the authority to handle your insurance business with your existing carrier until renewal time. Then, that same agent will have the ability to shop on your behalf from dozens of carriers to find and secure you the best policy for your needs moving forward. (This is very different than working with a representative from an individual carrier company - like State Farm for example - who ONLY sells State Farm Insurance and doesn't look into other options on your behalf.

From a commercial client standpoint (i.e. HOA Board Members or Property Managers), an Agent or Broker of Record Agreement allows a single, trusted representative from our team go to market on your behalf and shop out EVERY available insurance carrier, without having to worry about other individual agents trying to compete for your business. Instead, a single agent will present you with multiple options and lead the way in helping you determine which is best for your needs - without any self-serving motivations whatsoever.

Additionally, if you are an HOA representative, without an AOR agreement, other insurance agencies and their representatives can lock your Wren agent out of getting competitive quotes for your association, limiting your options to only those that each competing agent was able to get direct access to first. (In the commercial world, commercial quotes are only available on a first-come, first-served basis.)

Initially, whether you are an individual homeowner or the member of an HOA Board, before you have a solid relationship with an insurance Agency like Wren, it makes sense to "shop out" your options through a handful of different providers. However, once you've solidified a positive and trusting working relationship with us, it makes sense to sign an AOR letter, allowing your representative to shop all options for you and manage policy changes on your behalf.

Personalized service, multiple quote options, and a dedicated human being ready to answer your questions on the other end of the line are just a few of the benefits of an AOR with the right Agency. And don't worry, this agreement can be rescinded at any time (but we will do everything in our power to ensure you are completely satisfied with our service so you don't ever have to!)

So to summarize, the benefits of dedicated agency service through an AOR are numerous and include:

  1. A trusted advisor monitoring insurance market fluctuations and trends on your behalf.
  2. A team that is continuously in the know and planning for the anticipated upcoming needs of your home, your family and your community.
  3. Full access to market-wide insurance options, ensuring you receive only the best coverages for the lowest possible prices.

And while an AOR isn't required, it's certainly the most effective way to ensure your unique needs are put first each and every year. Want to learn more? Give us a call anytime!

Tina Lange is Sales & Marketing Manager at Wren Insurance Agency.