Using a Car Insurance Broker or Agent
Car insurance is quite a complicated subject. There are so many different types of policy offering so many different levels of cover that it is important sometimes to find someone who can fully explain them to you. Not only that, it can be useful to have someone who can help you arrange the policy once you have chosen the correct one.
Ideally, an insurance broker's job is to work to find the best insurance policy for you from a range of insurance companies. It is very important that you find out what sort of broker they are. Some insurance brokers are independent intermediaries, who are able to help find the best policy from a large range of insurers.
Some of the intermediaries will call themselves an insurance 'consultant' or 'agent'. These brokers may only be representing a handful of insurance companies, or, in the case of an agent, will be tied to one insurance company. Every broker must tell you what type of intermediary they are and must be licenced. All insurance brokers and agents in Australia must either hold an Australian financial services (AFS) licence or be an employee or authorised representative of a licence holder.
If the broker is offering advice, then they should carry out a fact find on you, which is where they will ask you a series of questions aimed at finding out about you and your financial needs. With so many different types of Travel insurance available, it is important that the fact find identifies products that serve your particular situation.
Remember also that the car insurancecompanies pay insurance brokers commission. This shouldn't affect the products that brokers recommend, but does give them a margin for variation in terms of premiums. If they get a commission for introducing a customer, they could pass over some of the commission to you in the form of cheaper premiums for the same cover. These are discount brokers, and worth looking out for.
To find an insurance broker can be as simple as using a telephone directory. We have teamed up with a variety of national travel insurance brokers to provide you with totally independent Travel insurance advice.
Please fill in the relevant quotation enquiry form on this site or follow the links we have provided to go directly to the sites we recommend. A consultant will call you at a time convenient to you.
When an insurance broker or agent first has contact with you, they should provide you with a financial services guide and a statement of advice and copies of the product disclosure statements for any insurance policies that they recommend to you.
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Reply #186 on : Thu July 29, 2010, 05:40:32
Posts: 186
Reply #185 on : Thu July 29, 2010, 05:40:27
Posts: 186
Reply #184 on : Thu July 29, 2010, 05:40:22
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Reply #183 on : Thu July 29, 2010, 05:40:18