Happy Wednesday! In this week's Big I Buzz, we are discussing unusual insurance policies and how IMS can help any size agency. 

Do Your Clients Know About These Unusual Insurance Policies?

LendEDU recently identified a handful of insurance policies that most people are typically unfamiliar with. While you likely won't be selling these types of policies often, it's nice to have it in your back pocket in case you come across a client with an unusual coverage need. 

5. Moving Insurance - From poorly packed breakables to bouncy truck rides, moving from one home to another or one business location to another is rife with opportunities for property damage. This type of coverage is often purchased through a moving company and can help mitigate the cost of belongings lost to the relocation process. 

4. Lottery Insurance - Should an individual strike it right through a lottery and decide to walk off their job, lottery insurance provides coverage for their employer. The product is more common in the UK than in the U.S., according to LendEDU.

3. Multiple Birth Insurance - While it's unusual for parents to unaware that they're having more than one baby, for those that like the element of surprise may be interested in this coverage. Available predominantly in the UK, this coverage can help parents weather the unexpected expenses of birthing multiples.

2. Body Part Insurance - Anyone who relies on their body to make money, such as a surgeon or machinist who must have fit hands, can get those body parts covered in the event that an injury results in lost income. 

1. Alien Abduction Insurance - You may think that an alien abduction is unlikely - and you might be right - but that doesn't change the fact that in a 1991 study, when 6000 people were asked whether they've had an experience with an extraterrestrial lifeform, more than 100 of them "answered in an affirmative way," according to the pollster Elmo Burns Roper Jr. Should an individual with this type of coverage return from their long, strange trip with bumps and bruises, their medical bills will be covered. 

Surprisingly, we didn't come up with these on our own. Check out this list and learn more about LendEDU here. 

IMS Empowers Agents to Choose Their Path

One of the best perks of being an independent agent is freedom of choice. Having the ability to sell products fro. m a multitude of carriers can greatly benefit your clients and help you find solutions that meet their needs. As an IIAW member, you have access to IMS, which can help curate your menu of offerings by connecting your agency with quality insurance carriers. 

No matter the size of your agency, IMS empowers you to choose the markets and products that bring the most value to your agency. When agents gain an appointment through IMS, they maintain a direct working relationship with the insurance company, which allows the agency to build relationships with underwriters and other helpful company personnel. If the book becomes large enough and predetermined volume thresholds are met, IMS agents can earn a direct contract with the insurer at no additional cost. 

IMS recognizes that profitable growth is the key to success for any independent agency and pays its agents competitive commissions to maximize agency income. IMS agents also enjoy 100 percent ownership of expirations. Agents who gain appointments through IMS can also take home extra cash if they qualify for any earned contingencies. 

Whether you're a mid-to large-sized agency looking to write niche pieces business or a small agency seeking direct carrier appointments, IMS has the tools and flexibility you need to grow your agency. To get started with IMS, click here. 

Don't forget if you haven't already updated your information to head back to this week's Big I Buzz email so you can receive our monthly email curated for you and your role. For more news, check out the Action News section of our weekly e-newsletter, Big I Buzz. If you aren’t subscribed, click here to add your email to our emailing list.