Frequently Asked Questions

Q. What is the difference between an insurance broker and an insurance agent?

A. Brokers and agents are both insurance coverage advisors. An agent typically is an employee of an insurance company and can offer product solutions from that company only.

By contrast, a true broker is independent from the financial control of any insurer. We believe this better positions the broker to hold the insurer accountable – the insurer being the broker's supplier rather than broker's employer. Additionally, brokers typically represent multiple insurers, providing a vastly broader range of coverage solutions for their clients.

Q – Why are my premiums so high?

A – There are many reasons that premiums have increased in cost over the years; rising settlement costs, increased asset values (homes, cars, etc.), changing weather patterns, natural disasters, etc. At Knox, our experience enables us to give you the advice you can trust AND deliver the best value pricing you can receive.

Q – Why are my neighbor’s insurance costs cheaper than mine?

A – The biggest reason why insurance costs differ is usually related to breadth and amount of coverage. At Knox, we believe it is unwise to pay too much, but it is much worse to pay too little. We want you to have the confidence that when you make a claim, you are protected.

Q – How much should I pay for (Home, Car, etc) insurance?

A – It’s not only about the type of car you drive, it’s about the type of coverage you select. At Knox, we offer the guidance you need to get the best value AND protection when it matters most.

Q – What is an Independent Insurance Broker and why is that important to me?

A – An insurance party is a 2-party contract: you and the insurer. So the question is, when selecting an insurance advisor, to whom are they ultimately accountable? Quite simply, at Knox we are independent from financial influence by any insurance company and are positioned to best represent your interests with multiple insurers. Most insurance buyers assume that the advice given is objective, and selected from a range of providers; but many advisors are employees of the insurer they represent, and are directed by that insurer. Sometimes this conflict is declared; increasingly it is not.

Q – Do the numbers of claims I have affect my rates?

A – Prior claims activity can have a bearing on premium. But at Knox, in many cases our experience and trust relationship with underwriters allows us to “contextualize” prior losses to more accurately reflect future risk.

Q – Why should we select Knox as our Insurance Broker?

A – As with any trusted advisor, you want to know that your broker is available, accountable, and experienced. At Knox, this positions us to give you value-added counsel over many years as you purchase and claim against insurance coverage:

• In reality, insurance is complex and sophisticated. As your advocate, we commit to effectively negotiating with underwriters; and when your policy is called on to respond to a problem, we’ll guide you through the process of having your claim settled – fairly, promptly and with clear explanations.

• There exists a great deception of the insurance industry: that all brokers and agents provide independent client advice. Because we are not owned, in whole or in part, by any insurance company, we have the freedom to represent you with honesty, integrity, and objectivity – we’re independent, and working for you.

• Our intention is to earn your trust by demonstrating our experience, knowledge and responsiveness. Your broker is a “student” of the industry, typically with 15 or more years experience.