Frequently Asked Questions

Below are some of our frequently asked questions. If you have any other questions or concerns, please feel free to contact us.

  1. What is an Indpendent Agent?
  2. Why Sherlock Insurance?
  3. How Much Insurance Do I Really Need?
What is an Indpendent Agent?
There are 2 different types of agents:

1)  Captive Agents  

     Captive Agents work exclusively for one insurance company and are only
     capable of providing business only to that company.  There are some captive
     agents that belong to affiliated groups, however, the captive agent's 
     priority is to sell business for the parent company to which it belongs to and 
     that virtually employs the captive agent.  

2)  Independent Agents

      Independent Agents (IA) are virtually employed by the client and not the
      insurance company.  IA have the freedom to "broker" and shop the market
      for the most competitive rates.  IA have the freedom to have numerous 
      contracts with numerous insurance companies.  This grants not only the
      ability to compare prices amongst different insurance companies, but also
      compare for the better coverage as well. 


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Why Sherlock Insurance?
We, at Sherlock Insurance, have an extremely diverse background for insurance, consulting, management, financial management, and asset liability/risk management for our commercial, home/auto, and life insurance clients.  We do not just believe in "stamping" a policy as a one size fits all, but yet educate, inform, explain, and let our clientele decide ultimately how much insurance they need.  Professionalism, the highest code of ethics, and honesty are what keeps our clients with Sherlock Insurance.

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How Much Insurance Do I Really Need?
This is the greatest aspect of insurance that almost always is never explained in full due for the fact the agent is trying to sell on price and the client thinks they are covered.  Insurance is to protect assets and from the unexpected, whether is was within our control or not. 

Things to consider when purchasing commercial (business) insurance:

    -What are my industry exposures? 

    -How could the company most likely be sued?

    -Are we providing pensions/benefits?  

    -How are we dispersed geographically?

Things to consider when purchasing home/auto insurance:

    -How many assets do I have to protect and what is the amount?
    -Do I have a teenage driver or does my spouse have a tendency for tickets, 
      violations, or accidents?

    -How much would it actually cost to rebuild my home vs. what I actually paid
    when I purchased it?  

                -This is extremely overlooked.  One could have purchased a home in 2000 and at $92 per SQ FT for $200,000 and to rebuild in today's dollars, it is now at $105 per SQ FT due to increased building costs.  Very important.

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