Important Information About Our Compensation
BBVA Compass Insurance Agency, Inc.
As a customer of BBVA Compass Insurance Agency, Inc., we want to inform you about how BBVA Compass Insurance Agency and its representatives (the "Agency") are paid in connection with the services we provide to you. Please review this information carefully. If you have any questions, or would like any additional information about our compensation arrangements, please contact your BBVA Compass Insurance Agency representative.
- When you buy insurance from an insurance agency, including from our Agency, you should be aware that the insurance agency represents the insurance company and is compensated for the sale of the insurance product. An insurance agency's relationships with various insurance companies and its compensation arrangements related to the sale of insurance products may create conflicts of interest for the agency.
- The insurance companies that the Agency represents are not affiliated with the Agency.
- The Agency receives a commission based on a percentage of the premiums you pay to the insurance company. This commission is built into the cost of the insurance you buy.
- In addition to commissions, the Agency may receive additional compensation from an insurance company, including: administrative service fees, compensation based on the number of policies placed or renewed with the insurance company, compensation based on the amount of the premiums you paid, compensation based on the total amount of premiums attributable to all or certain types of the insurance company's policies placed or renewed by the Agency, and/or compensation based on the loss histories of clients placed or renewed with the insurance company by the Agency. The cost of these forms of additional compensation may be reflected in the premiums or other fees you pay.
- Insurance companies that the Agency represents also may provide the Agency other forms of incentives, including gifts, prizes, trips, entertainment and expense reimbursement.
- In connection with placing your insurance, the Agency also may receive compensation, in connection with placing your insurance, from other intermediaries, such as wholesalers and premium finance companies. This compensation may be in the form of commissions, administrative fees, placement fees, or other compensation.
- The amount and types of commissions and other forms of compensation and benefits the Agency will receive will vary dependent upon the types of products selected and the particular insurance company with which you are placed.
Insurance Products Are:
|Are NOT Deposits||Are NOT FDIC Insured|
|Are NOT Bank Guaranteed||May LOSE Value|
|Are NOT insured by any Federal Government Agency|