Difference Between Insurance companies and car insurance brokers
There are several variances between Irish insurance brokers and companies or the agents that work for an irish insurance company. The term insurance broker or insurance company / agent are often confused when speaking about car insurance or, in fact any other insurance policy. The difference between them can be very important to clients requiring a car insurance product.
First, it's vital that everybody should know that the car insurance rates charged by companies are highly regulated - usually by the Central bank of Ireland. When a person receives an insurance quote from any company, that has to be the rate that the insurance company is allowed to charge for. Car insurance companies are not allowed to quote a different rate for the same coverage.
Car Insurance Brokers Ireland - Differences to Insurance companies
Car insurance brokers in Ireland are slightly different. Brokers are independent businesses not directly connected to a particular insurance company. Brokers can use several car insurance companies to find the best deal for their clients. Although everybody should realise that for every car insurance policy sold to customers, they will receive a commission from the particular company who sell the product. There may be other costs. such as a broker fee, but these are mostly listed on a bill separate from the car insurance costs.
|
