When was the last time you were happy with paying your auto insurance premiums? Well I’m sure you don’t remember or maybe you do, who can forget those nightmares! The fact is, you don’t want to pay because you’re confident in your abilities behind the wheel or simply because you don’t drive as often, but the bitter truth is that you just can’t drive without having your car insured. At least not here in Britain!
The whole motor insurance singapore business here, in any case, any form of cheap insurance, is all about making a lot of money. But the problem is that it is only for insurers! But yesterday I came across this quite interesting information that I would like to share with all readers. In the financial year 2005-06, the UK auto insurance industry lost £ 10 billion. That was shocking as our last ash victory, which if I remember correctly was somewhere alone at that time! Maybe there was something in the air!
This report I am referring to is the annual report of the Association of British Insurers (ABI) which states that the total premium paid by people like you and me was £ 10.2 billion. According to them, the amount they paid us for bumping into each other was £ 10.3 billion! Now I really want to meet those lucky people! The fact is, when you go shopping for auto insurance for your car or bike, you are making an investment that must be made properly and sensibly.
You should look for deals with cheaper auto insurance premium payments that ideally cover liability for injury to others, liability for property damage to others, and passenger liability for accidents caused by them. One says it’s cheaper because auto insurance premiums are pretty high anyway because they cover the amount to pay for claims, legal and administrative costs, and running the business.
Therefore, accepting a car insurance deal online is a better option, as its running costs are much lower than any other physical setup. There are several things you can do to lower your auto insurance premium amounts for your vehicle. Start using the subway, as the more you drive, the more likely you are to collide with someone at rush hour. Then you also have the option to get an advanced driver’s license and believe me, it works, as additional lessons with the Pass Plus scheme can reduce premiums by up to 35%. The surefire way to make the insurer understand that you are not going to jump any signs or drive over the speed limit is to get married! It actually works as married men attract lower premiums than single men.
What do auto insurance brokers do? They take on the role of an intermediary between the customer seeking car insurance and the insurance company that provides it. From the customer’s point of view, it can be an especially useful and rewarding relationship as the experience and knowledge of the auto insurance market broker ensures not only that the most suitable type of insurance is found, but that it also represents the best value for money. .
One of the most reassuring characteristics of the insurance broker role is that it is completely independent. The independent insurance broker is not tied to a particular insurer or even a selected panel of insurers, but can genuinely and independently recommend their clients. Because they are not agents tied to any vested interest, these brokers can accurately establish the insurance needs of a particular client and track through a wide range of potential providers to find the perfect match, both in terms of insurance coverage. insurance provided as price. .
But finding the most suitable insurer is only the beginning of the broker’s job. There is an ongoing relationship between the client and the broker that allows the latter to:
- Anticipate future insurance needs, such as scheduling policy renewals;
- Offer specialist advice if insurance needs are more complex, whether the complexities arise due to the personal circumstances of the driver or the particular type of vehicle involved;
- Advise on ways to mitigate some of the risks involved in car insurance, for example, installing security devices to protect the car from theft or advising on the most appropriate level of excess to be assumed by the client and thus reduce the amount. paid in insurance premiums;
- Modification of the current insurance policy: if you change cars or want to add another vehicle to the existing insurance, for example;
- Provide advice in the event of an accident, or other loss or damage to the car, which gives rise to the need to file a claim under the policy
- Collection of the premiums owed by the insurance policy.
In other words, there is a whole lot more to the insurance broker’s role than simply selling the customer the motor insurance policy in the first place. With so many different providers of motor insurance, a broker can play an indispensable role in ensuring that his or her clients buy an essential product not only at a competitive price, but also in the comfort and knowledge that the insurance will perform exactly as intended if and when the time comes to make a claim.
