Do I Need a Car Insurance Brokerage?

    We see daily enticing car insurance advertisements. We can, however, exercise the option of an online quote. Or a call to an insurance company. Contacting our existing insurance company to utilise a possible multi-policy discount (applicable to clients who own an all-inclusive policy that covers among others, home and car insurance) or just opt for car insurance brokerage.

     

    Your Decision – Car Insurance Brokerage

    To determine the best car insurance, it is advantageous to shop around for comparative purposes; however, comparing for the sole intention of acquiring the cheapest rates might not be in your best interest.

    Car Insurance BrokerageQuotes on most comparative sites don’t always take into account distinctive client conditions.

    Besides it being a free service, it would be wise to consult a broker, unless you are a car insurance specialist.

     

    Legislation

    Car Insurance Brokers are compelled by the South African Financial Services Board to disclose their commission in all car insurance quotations and policies.

    The legislated fee which may not be exceeded is twelve and a half percent.

     

    The Client

    Whether or not you opt for a broker, to source the best car insurance. It is your responsibility to ensure that:

    • All relevant information is provided for a comprehensive quote/policy purposes;
    • Information disclosed are thorough, accurate and truthful;
    • Pertinent information is not false or hid as it may result in no claim;

     

    Car Insurance Agent

    To aid a decision in favor of a car insurance broker, consider the following:

    • Car insurance brokers are experts in their field who can offer the best policy possible. Due to their knowledge and them being able to extract information from a variety of companies, unlike a car insurance agent working for a particular company, who would only be able to offer cover through their business.
    • A professional broker will devote adequate time to a client, to acquire up to date personal and all other information relevant to car insurance, and are also able to inform customers of any existing insurance policies providing such cover.
    • Cover by a customer might not always be adequate or even be unavailable, but the broker must inform them accordingly.
    • According to clients’ specific requirements and circumstances, brokers are in a position to assist in determining the exact type of cover needed.
    • Excellent brokers take the time to foster ongoing, professional affiliations with clients. By providing regular feedback especially ensuring client peace of mind during a stressful claim period when they execute the process on behalf of their clients.

     

    Car Insurance brokerage or not?

    So it would be in your best interest to consider car insurance that provides the best possible value. So instead of aiming for cheap options only, and that amount includes the services of a broker.

    Ultimately, whether or not you opt for the services of a car insurance agent is your personal choice.

    For a FREE car insurance quote, complete the form on this page and click on the “Get a Quote” button