Broker fee - Beware

M

Megan

Registered User
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I just received my insurance renewal notice today which was just €1.00 cheaper then last year. I also notice that if I opt for Direct Debit it work out €9.00 cheaper which didnt make sence as I thought direct debit was allways dearer then paying up front. I phoned my broker who told me they could give me a reduction of €35.00 which was their fee. If I hadnt made the phone call I wouldnt have got the reduction. (It seems there wasnt any broker fee on the Direct Debit hence the cheaper quoate). I am now looking at my options as I am a bit peeved with my broker.
So buyer beware.
 
don't understand you would have got the reduction if you agreed to pay by direct debit. They told you this in their letter. Am I missing something. Is it that they are agreeing to knock the fee if you pay in full as well. Sounds like they were upfront to me.
 
I dont think they were up front with me. By paying by direct debit over 12 monthly instalments came to €424.00 plus €26.09 Service Charge. Total : €450.09.
The full amount for paying up front was €459.00.
It was only when I phoned them to query this that they said the €459 included a figure of €35 Brokers Fee. They then offered to drop their broker's fee and to leave my insurance at €424.00. if I paid up front.
 
Only €1 cheaper than last year????

Shop around, you will get a better deal else where...

Your premium should reduce more than a euro...
 
when you first take out a policy with a broker they must give you a terms of business which shows the fees the charge for either renewals, new business or mid term adjustments.
 
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