Insurance is often considered to have become a commodity. I believe this is because the entry into the profession fairly open and as easy as passing an exam. As long as you pass an exam and complete the continuing education requirements, you’re an agent…

But does this make insurance a commodity? A closer look at the definition of commodities is a useful or valuable thing. But, after reaching out and receiving comments from current clients and friends of mine, I learned that insurance buyers have a totally different view of what a commodity is.

I learned a commodity, according to an insurance buyer is something that is readily available and easy access, often considered cheap and unvaluable….

Howe interesting. Insurance certainly is boundless, agents are boundless and getting a license to practice has become easily accessible, but does this make it a commodity by definition?

It appears insurance has become blended with a consumer’s definition of commodities and the official definition as a valueable and useful thing. I think consumers can use this to there advantage when thinking of insurance and shopping for it.

How? Seek out and choose an agent who meets the definition of being useful and valuable to you, but who also is readily available and one who has boundless access to insurance markets to find adequate insurance coverage at a fair price in lieu of a fair price for invaluable and useless coverage.

There are many agents to choose from as well as many products.

Shop for your commodities by definition.

As always,

Here to help, not hinder…hopefully!