[O'Leprosy]

Not happy with my quote from AON, thinking of going to an insurance broker, is it like a solicitor who legally has to give you advice first without charging anything ? And can they be con men with hidden fees etc and do they deliver on cheaper quotes ? Out of work and needless to say cash is a major issue

[petecourtney]

O, on 27 November 2011 - 02:10 PM, said:

Not happy with my quote from AON, thinking of going to an insurance broker, is it like a solicitor who legally has to give you advice first without charging anything ? And can they be con men with hidden fees etc and do they deliver on cheaper quotes ? Out of work and needless to say cash is a major issue

How are ye Lep! Is it for bike insurance?

I don't think brokers are the best option in this instance, there's only 4 providers at present, ring them all and take the cheapest policy that gives you the cover you need. You'll find the companies listed in this thread

The only time I've used a broker was to insure a classic car - they got me cover with a specialist company that I'd never heard of before. The company in question only sells insurance through brokers, so it worked out well for me. There was no additional cost charged to me (i.e. any broker charges were included in my premium)

Best of luck trying to save a few bob.

[Shinwacker]

I started to use the services of a broker again and I got my business insurance cut by more than 50%, I was with the same insurance company for 18 years and no chance of a cheaper price. They got dumped. I asked him about my bike insurance and he replied the same as Pete did above.

Now in saying that if you are a nervous type and don't like talking to these insurance guys, I don't either, brokers are the way to go. They have to be up front about all charges and these charges normally are paid by the insurance company. I would suggest that if you have other insurance, like home insurance/car insurance give the broker all of them. They won't all fall due at the one time, so tell him you'll get it all of him if he keeps the price down.

Good luck with it all mate.

Shins

[Tazzzie]

In my experience - usually with a broker, you pay a charge for the borkerage (or Administration fee)

If you make changes during your policy with a broker, your subject again to an Administration fee.

Adelaide are brokers for bike insurance - the Administration fee I think is €40. They still came out cheaper (for me) than the competition with that fee attached.

Bear in mind also (again in my experience) that breakdown cover might be restricted. Certainly with adelaide - bikes over 10 years old were not covered. But you get the option to remove that and reduce the price.

Similar experience with 123.ie for the car.

Good luck with it mate.

[somedayisnow]

I found a big disadvantage to dealing with brokers was when I wanted to make any changes during the policy, I had to do them via the broker. Broker office opening hours are usually shorter than the insurance companies customer lines (eg 9am - 5pm), they also cannot be contacted during bank holidays etc whereas if you are insured direct, there is usually a customer care hotline with extended opening hours an/or a website where you may be able to make changes online.

Have you looked at any of the price comparison websites for car, house, health insurance cover? They can be very useful.

[scotty]

I'm a broker ..... . . . . . . I dont do car or bike insurance. Lets look at some truths here, not chinese whispers.

1 You pay your premium and the broker gets around 12% of this in commission. This money is meant to pay them to look after you during the life of the policy. When they charge you an "admin fee" to do a bike change etc etc they are having a laugh. Its like ryanair charging you for a seat to sit on.

2 Are they cheaper / dearer ? It really depends on the amount of business they give the companies. Big brokers will get discounts to pass on to you but some keep it. On my personal policies I use brokers & direct insurers to get the right mix.

[Shinwacker]

Thanks Scotty for clearing that all up. Insurance companies have had to clean up their act of late. People have to be trained and have certs to prove it yada, yada, yada, insurance aumbundsman and all that stuff. The chap I used charged me 10% guess I got lucky so, try haggling with all of these people. The times we live in.

Shins

[Linda]

As said before we have 4 insurance suppliers here. AXA and Quinn are insurance companies AON - Carole Nash and Adelaide are all brokers they don't supply the insurance they get it from another company. AON only deal with AXA Carole Nash use 2 or 3 companies and AFAIK Adelaide use a couple of companies.

I use a broker for all my insurance apart from the bikes. He says that I can get it cheaper than he can.

[O'Leprosy]

Ok folks thanks for all your helpful replies. I was with AON and I don't like the deal I'm been offered, interesting what Shinwacker said " People have to be trained and have certs to prove it yada, yada, yada ". I suspect the young fella on the phone is making some clerical error. Will let you know how I get on.

This post has been edited by O'Leprosy: 29 November 2011 - 11:44 AM