What type of agent has a contract with only one insurance company?

An exclusive agent operates under a contract with only one insurance company, which means they can sell and represent only that particular company's products and services. This arrangement allows the exclusive agent to focus on a deep understanding of one company's offerings, policies, and underwriting standards, enabling them to provide specialized advice and service to clients about those specific options.

In contrast, independent agents represent multiple insurance companies and can offer a variety of products from different insurers. Brokering agents often work similarly to independent agents but focus on finding the best coverage for clients from various insurers, possibly earning a finder's fee or commission for their services. General agents typically recruit and oversee other agents and may work closely with one or more insurance companies, but they do not strictly limit themselves to a single insurer as exclusive agents do. The distinction is crucial, as it directly impacts how agents operate in the marketplace and the types of policies they can offer to consumers.