Auto Insurance Broker

Frequently Asked Questions

1. QUESTION:
   Who is a good auto insurance broker in Chicago?
   I want to get the contact information of a good auto (and perhaps renter's) insurance broker. I want somebody that is independent and shows all the companies at once for me. They have to be authorized to sell in IL.

   • ANSWER:
     Find one through this website: www.iiaa.org

2. QUESTION:
   What is the most popular and best auto insurance broker in NYC? Any recommendations? What is the advantage?
   By best, I mean the lowest priced rate they can come up with. What is the advantage I get going to a broker instead of directly going to a popular auto insurance company? Thanks a lot.
   I live in Bronx, NY, work in Manhattan and I have a 2000 Toyota RAV4.

   • ANSWER:
     The best thing to do is to ask friends & colleagues who they use for their insurance. If you have a tenants or co-op policy, go to that company first. Travellers is a good company and used to have decent rates in NY. I was from NJ & one of my insureds moved to Manhattan & his rate went down with Travellers. They work through independent agents. Look in the phone book under insurance & start calling. You don't necessarily want the cheapest rate (remember you get what you pay for), you want the best coverage for your situation. You want a good company that will be there to help you if you have a claim. Good luck to you. If I were still in the area, I may have known someone but unfortunately, I am not anymore.

3. QUESTION:
   How do I get my auto insurance broker license in CA??
   I bought a car last week and the dealer had an agent come and take pictures and give me insurance right at the spot, I like doing what he is doing but have no idea what i have to do, can you please tell me how to get my auto insurance agent/broker license in CA and if I have to have an office or I can just work on my laptop from home? Thank you

   • ANSWER:
     Insurance is run by Departments of Insurance in each state, so do a dearch for California Insurance department and it will give you the requirements for a license.

     Good luck!

4. QUESTION:
   Auto insurance broker gave me wrong information can I get my money back!?
   I put 0 down for auto insurance and cancelled two day later because insurance broker gave me wrong information. Can I get my money back?

   • ANSWER:
     Did you cancel in writing?

     You probably have to. You will be charged for the days that the policy was in force.

     Good luck

5. QUESTION:
   Auto Insurance Broker fee in CALIFORNIA?
   What is the average auto insurance broker fee in California. What's the minimum and maximum broker fee? My auto insurance bill states the total costs for my six month policy premium is 0.00, but I paid the broker 5. How is it calculated? I just want to make sure he didn't over charge me. If possible, please include links. If I call my auto insurance company, will they be able to tell me or will I have to call the broker and find out. Your assistance is very much appreciated.

   • ANSWER:
     I don't think there is a minimum or maximum value, it's usually a calculated as percentage of the value of the sale though that price does seem a little high. A good broker would normally tell you the fees and how they are calculated before you commit to anything. Shopping online is really the best way to get the lowest price, most will provide free quotes and no brokerage fees. You could try somewhere like http://www.lowest-cost-insurance.com and see how much difference shopping online can make!

6. QUESTION:
   Do i need to purchase a bond in order to become a auto insurance broker?

   • ANSWER:
     As the others have answered...in most States "NO"

     I would check with your State dept of Ins regulations "licensing divison".

7. QUESTION:
   Do all Auto Insurance agents/brokers charge broker's fee? And how much is it?
   Do all Auto Insurance agents/brokers charge broker's fee? And how much is it?

   • ANSWER:
     I didn't know anybody charged broker fees until I read this. I've had three different auto/homeowner's insurance brokers in the past 10 years and none of them has ever charged me a fee.

8. QUESTION:
   I am interested in becoming an auto insurance broker in texas. What do I need to do to get started.?

   • ANSWER:
     get the license

9. QUESTION:
   Auto Insurance broker failed to add driver and now claim has been denied Help pleassssse?
   So I called the owner of the broker company who told me that he would gladly backdate the policy upon the notion that AIG would accept it and they said that they would. Then the owner called me back stating that his broker that issued the policy already gave a recorded statement to the insurance company stating that he did not remember us requesting the added driver to the policy so he cant help us or he would lose his license as a broker by recanting on a recorded statement so he then told me to make the adjuster take the recorded statement off the record and they will do it but it is illegal to even ask them to do that. Our Policy has canceled several other times due to this broker not turning in the proper paper work to AIG. I need help I have went through all the chain of comands and the california insurance board what is left??
   ADD Information*** I was the driver previously an excluded driver but we lifted that by adding me to the insurance policy, or so we thought. I have my own truck and would never have driven the newer car had I known that I was not covered.

   • ANSWER:
     OK, if the claim was denied for failure to disclose the driver, ie, because there was an unlisted driver on the policy, you have a serious errors and ommissions lawsuit on your hand against the broker.

     Backdating is risky at best. Companies do NOT like to do it.

     He may or may not have had binding authority with AIG. If he had no binding authority, he overstepped his authority.

     You are going to need a lawyer on this. And I don't recommend lawyers lightly. But you're looking at an uncovered claim, due to this guy's error and/or ommission.

     OK, now, NORMALLY, an insurance company doesn't deny a claim for an unlisted operator . . . they just add them on retroactively to the date of licensing, and charge you (including surcharges) accordingly, so I'm wondering, is it POSSIBLE that this isn't an unlisted operator, but an EXCLUDED operator? Do they even have a LICENSE? And that maybe the excluded operator had the accident, and THEN you called the broker to see if you could add him, backdated?? And when the broker found out about the accident, the company refused to backdate???

     *** ok, that makes more sense, with the excluded drivers. UNTIL YOU HAVE the policy endorsement IN WRITING that says you aren't excluded any more, you're still excluded. That is typically NOT a "bindable" endorsement. It would most likely have been outside the agent's authority to "bind" driving on the new car. You're still going to have to get a lawyer if you want to fight it, but it's likely going to be YOUR word against the broker. And it's going to be EXPENSIVE.***

10. QUESTION:
    Where is a good school in Los Angeles Ca, so I can become a Auto Insurance Broker?

    • ANSWER:
      If you mean start your own firm then I dunno. If you want to work as a producer for a brokerage then contact all that you can find and apply for a job. 9 of 10 will pay for your licensing and teach you the ropes.

      Some "captive" companies like State Farm & Allstate offer franchise opportunities but then you can only sell their insurance

11. QUESTION:
    I am thinking of becoming an auto insurance broker in texas. Do I need software?

    • ANSWER:
      For car insurance the quick method to get a free quote is do a policy comparison. If you choose the same coverage amounts, you can get an accurate quote to compare against others. Use the same zipcode, auto make/model, mileage and driving history to make sure you get an apples to apples comparison. To get mulitple auto insurance quotes, go to http://www.easyautoinsuranceguide.com/Texas-Car-Insurance.html and you can compare the major auto insurance companies.

12. QUESTION:
    CA Auto Insurance Broker Fee?
    What is the average rate a Broker Charges when you sign up to insurance through them in the State of California?

    • ANSWER:
      I don't know that there's an average. In most other states, you can EITHER charge a brokerage fee, OR take commission, but most states won't allow the agent to do both.

13. QUESTION:
    Does anyone know what a proof of auto insurance letter looks like EXACTLY?
    Hey, I need to know what exactly a proof of insurance letter from an auto insurance broker looks like and says exactly. A link to a copy of one would be great. Can anyone help me?? Pleassse??? Thanks in advance!
    I live in Ontario, Canada.

    • ANSWER:
      Each insurance company has their own rules, and their forms may be different. Some states also have their own forms that are filled in by the insurance companies, or agents.

      If you are trying to "create" your own form (forgery is such a nasty word) you will need to have a copy of one issued in your state. Be aware that many times the state will send a verification form to the insurance company listed, and if they find a problem, you might find yourself with bigger issues to deal with in the court system!

14. QUESTION:
    Which auto insurance brokers in Ontario will cover modified cars?
    I'm thinking of modifying my (suspension/turbo) car and do everything legit by advising the insurance companies. I'm having a hard time find a broken in Ontario, Canada who would oblige. I've been driving for +15 years and a clean record (knock on wood). I haven't called my broker since I'm afraid of them putting a check on my policy .

    • ANSWER:
      talk to your broker they can't do anything until it's done , by asking they can only inform you

15. QUESTION:
    How to find easier way to buy in auto insurance without dealing with broker?
    Does anyone know ? I need your recommend.Thanks.

    • ANSWER:
      I recommend you this site where you can compare quotes so you can find the best option for you

      http://EstimateAutoInsuranceRate.info

16. QUESTION:
    How do I change an auto insurance policy from one broker/agent to another?

    • ANSWER:
      If your staying within the same company (State Farm, Allstate, Progressive, etc), but your just wanting to change the agent that handles your policies, it should be fairly simple. Depending on your state and the company you do business with, all you need to do is let the agent that you currently have know that you want to switch. Be sure to tell him which agent you would like to switch to. This is how I did it when I moved. Maybe tell the other agent your switching to, so that he might call and make sure it gets done.

17. QUESTION:
    Can someone suggest some really cheap auto insurance brokers or companies in the Toronto area ?
    My current one said 240 a month three weeks ago and now its 300 after I paid my first cheque and signed up. Petley Hare - they are crooks and liars. I just want to dump them and get another forget about the money - just use a months worth and get rid of them liars and crooks.

    • ANSWER:
      All the major car insurance companies claim to offer the cheapest rates and best service. However so many factors go into your car insurance rates, and companies do differ. They consider your driving record, age, location, credit, and many other details.

18. QUESTION:
    changing auto insurance from broker to getting my own, how. cancel present insurance or get own first?
    what to do

    • ANSWER:
      I'm not 100% clear what your question is, but I will say never cancel one policy until the other has been issued.

      You want to make sure it's issued before canceling the old one just in case the person from the new company made an error, or you forgot about something in your past (a small claim, for example) that would affect your premium.

      One that is on hand THEN go and cancel your prior policy.

      Best of luck!

19. QUESTION:
    How do I become an admitted insurance broker?
    What are the best insurance companies (Auto & Home primarily) out there? I would like to become an admitted agent. I have my broker’s license already. I have worked under an auto insurance co. for about 5 years, but would like to go into business on my own.
    What are the good companies, Which companies have good compensation programs? I’ll be working in a good and high risk market, in Los Angeles area …anyone has done this, any suggestions?
    Thank you in advance for all your assistance!

    • ANSWER:
      You need to get a company to appoint you - and that's mostly through networking.

      Usually in your shoes, YOU don't get to choose from companies, you're more likely to have to take whoever will take you on. Progressive is a pretty easy one to get into, or any captive agent like State Farm, or Allstate, but then it narrows your options in the long run.

20. QUESTION:
    how long does it take to become a property & casualty insurance broker?
    I want to sell auto insurance, but I don't want to be an agent, I want to be a broker. What's the process involved, and what's the fastest time that I can complete this in?

    • ANSWER:
      Most states these days, use the words interchangably. You have to take and pass a test. It's the same test, for agent and broker.

      If you know enough to pass the test, you could sign up for it today and take it tomorrow.

      If you're a fast study, you can do nothing buy study for a week, and maybe pass.

21. QUESTION:
    how much money do auto insurance brokers make?
    How do they get paid? and how much?

    • ANSWER:
      They get paid on commission. Depending on the company 8-15% of the premium. Some companies go as low as 5-6% on renewal. Don't just write auto insurance, the turnover is huge. If a policy cancels after one month, you only get your commission % of that month only. You will have to "pay back" the commission on your monthly commission statement from the company. Remember, it takes about 3 yrs for a policy to become profitable to the agent, due to all the up front work that is involved in writing the policy. If you are truly a "broker" not an agent, you work for the insured to place their business with an agent & then you would either get paid by the insured (by a written agreement with them which would be regulated by the State what you can put in that agreement) or you may get paid by the agent a % of their commissions for the business you brought to them. If you get your property/casualty license, you can write auto/home/umbrella/boat/ motorcycle etc in personal and small business/commercial package/commercial auto/commercial umbrella etc in commercial. As you can see, it will take a long time to make any money and you have to retain as much business as possible. If you can keep 90% of your business every year, you are doing great.
      Best bet, if you are looking for an insurance sales job, look for a producers job in an established independent agency. They probably make the best money in an agency.

22. QUESTION:
    Insurance Broker?
    I am thinking about become an auto insurance broker.
    How do I get licensed and where can I buy the software that’s needed?

    • ANSWER:
      What state are you in? And you don't need "software" to sell insurance. If you are in california, you can write me at edmundich@hotmail.com

23. QUESTION:
    how do you become a licensed truck/auto insurance agent fot the state of california?
    i'm interested in becoming an insurance agent/broker for commercial vehicles. How do i get started?

    • ANSWER:
      You go to the California Department of Insurance website, and look for Producer Licensing. That will explain what you have to do to get the license.

      THEN you have to find an insurance company willing to let you sell their insurance. Good luck. They don't appoint "green" agents with no experience. The best way to get experience is to get hired as a CSR at an agency.

24. QUESTION:
    Does anyone know where I can get a 1 month contract with an auto insurance provider?
    Im moving in about a week from oregon to utah and I do not have auto insurance. I was wondering if anyone knew of a broker that can offer 1 month of auto insurance. That way I am insured and I can get to my destination. I do not have the money to do a 6 month. so if anyone knows of any place please let me know. Thanks very much!

    • ANSWER:
      You can't. Each state sets the minimum contract time, and the minimum contract time in ANY state is six months.

      The good news is, if you cancel the insurance before the six months is up, you can get a partial refund of the insurance.

25. QUESTION:
    my agent/broker that gave me my auto insurance policy completely lied to me! Plz help?
    this is as short and simple as i can put it: i went to get insurance on my auto, i told the agent specifically & exactly what i want in my policy such as rental car and medical and my car is a lease car which requires 300,000 coverage & i also told him that which he shouldve known anyway,, my policy comes in the mail ,i see it and flip out becuase he only gave me 15 30 so i go back the next morning and tell him this is not what i asked for! and he says, i didnt know it was a lease, u never told me... im like helllo it says it on the registration!! then he says he will change it and ill get my new policy in the mail in 3 weeks, so i moved by then, and i called their office, and he says he changed it but will send it to my new address... so anyway i get into a car crash, my car gets totalled, and i find out he never changed anything!!! can i report him to calif. dept of insurance? and what should i say exactly? Then i go to see the owner of that insurance place...and he says ok listen go get a rental car and if the accident ends up being ur fault , ill pay for half. I said no i shouldnt have to pay anything!!!
    Should i write a letter to their offfice first before i complain to the calif dept of insurance? Someone please help ! thanks

    • ANSWER:
      The registration is irrelevant, BUT.

      He should have given you a quote, BEFORE you purchased the policy. The application, which you SIGNED, had the coverage limits written right on it. There's a space for the lender/additional insured, too, which apparently you were happy leaving blank.

      Not sure how long you waiting before checking, but you COULD have followed up with your change request.

      Sure, you can file a compalint with the state insurance commissioner. You can hire a lawyer and sue him, too . . . but you'll have to PROVE that you asked for higher limits, and he's got the signed APPLICATION from you, proving that you asked for LOWER limits.

      You'd sue him for your LOSS.

      Unless YOU are at fault for the accident, AND your damages are higher than the policy limits, you have no loss.

26. QUESTION:
    Alberta auto insurance laws?
    Here is the situation:
    My parents have 3 cars and I will be getting my drivers license soon. When I called my insurance agency and asked to get auto insurance, the broker told me that I MUST be registered as a primary driver on one of the vehicles instead of an occasional driver. I am a dependent high school student living with my parents and they have no intent of giving me the car.
    So my question is that if the broker is lying to me or not because I think that it's unreasonable that I MUST be registered as an PRIMARY driver on one of the cars instead of a occasional driver.

    P.S: Can't I just be added to their policy as an occasional driver?

    • ANSWER:
      if there were2 cars on the policy you would be able to be rated as an occasional driver. Once there are three cars and three drivers everyone on the policy would be rated on a car, they can not guarentee that you will be in the car only some of the time. get a car with liablility only that should help you out.

27. QUESTION:
    What are some A rated insurance companies? or how do I know my insurance company is A rated?
    Is their website that shows A rated insurance companies? I use a small independent insurance broker that represents several insurance companies. The broker is Control Insurance Inc and the auto insurance is Safeway

    • ANSWER:
      AM Best rates the financial strength of insurance companies.

      You can the AM Best web site to see how a company is rated. http://www3.ambest.com/ratings/default.asp

28. QUESTION:
    will a place like target auto brokers try to supply or get you car insurance?
    i was wondering if they wont let you leave their premises until you have insurance on the car you bought or made payment arrangements with. can you say that you dont want any insurance?

    • ANSWER:
      You can leave! But if you have a loan on your car, they won't let you take the car with you. If you've paid cash, they won't give you temporary tags without insurance in place.

      You do NOT have to buy insurance through them.

29. QUESTION:
    starting insurance broker agency in CA. 3 yrs p&C &life lic&experienced, how do I get appointed w/ carriers?
    Just got bus entity lic w/ state of CA for insurance broker agency, looking for appointments in non standard personal auto (to start). What is the best way to become appointed?

    • ANSWER:
      The most important requirement will be for you to obtain the appointments or contracts from the insurance companies so that you are able to market and sell their products. Without a good company to give you a contract, it will be very difficult if not impossible to be successful.

      In order to obtain the contracts, I suggest that you start on a Business Plan including a Marketing Plan, Mission Statement, SWOT analysis, etc. Make sure that you include demographic information on the area where you will have your office, etc. Once you have this done you can approach insurance companies that you are interested in representing and go through the steps necessary to convince them that you want an appointment and will be able to successfully and profitably market and sell their policies.

      Also FYI starting a "scratch" agency is not easy. Be prepared for 60 to 70 hour work weeks, cold calling, etc. One more point, in my opinion it is better for you to have an independent agency than obtain a contract with an exclusive company. In the current financial market I would not one to put all my "eggs" in one basket by representing only one company--apart from the fact that with some exclusive companies they actually own your "book of business" (the client roster) not you. Essentially that means that they can terminate your contract and keep all the clients that you developed!

30. QUESTION:
    SHould i trust AIS insurance broker co.?
    I just got an auto insurance quote from AIS and they gave me 0 for 6 months for my 1999 ford. that's like /month for a 15000/30000 liability insurance and it is through MERCURY insurance co.... should i trust this and go with it?? i currently have GEICO paying 5 for 6 months

    • ANSWER:
      I am an insurance broker and personally I feel going through a broker is your best option. Brokers have access to companies that the general public cannot access directly and therefore they can provide you the best pricing. Some Brokerages will charge you a small one time broker fee but for the most part they make their money by getting commision form the insurance company and not from the insured. They will also serve as laisons when there is an accident or a change in coverage. You will never have to deal directly with the insuance company's b/s.

      AIS is a trustworthy brokerage. It looks like they are doing their job, Mercury ususally does have some of the lowest rates for auto insurance. a month for 15/30 liability only, seems legitimate. I do however agree with the last entry by cowboy (i think that's his name). You may want to get higher liability limits. 15/30 translates this way: 15,000 bodily injury per person per accident, 30,000 total bodily injury per accident and only 5,000 for property damage. 5,000 isn't very much at all. Fixing a bumper alone runs about 2,000. If you live in a state like California where everyone drives a 2006 mercedes or beamer you may want to get higher liability limits. Since you'll be saving so much anyway you may want to go up to 25/50. Ask how much more it will be.

31. QUESTION:
    How much money should a licensed CSR make?
    I currently work for a Farmers agent, and recently had my second interview with another company and was asked how much money was I looking to make. I have my Property & Casualty license and have a 1 1/2 years in the insurance business as auto insurance broker and customer service. What should I be making or whats the average pay for someone in my similar position?

    • ANSWER:
      Obviously, it depends on your location, but here in Houston, with 18 licensed months under your belt, working on personal lines, I'd expect you to be making - K a year; a bit less if you've only done auto work.

32. QUESTION:
    do insurance brokers get paid more?
    for a client taking multi-line insurance if they are on commission, rather than only auto or only home/ tenant insurance? The broker i was speaking with was really trying to pressure me onto taking multi-line insurance. He said it was going to cost the same as taking only auto insurance without the discount for the multi-line so is he losing commission if i don't take it or why is he so concerned that i take it?

    • ANSWER:
      Under General insurance the broker gets commission on a yearly basis for the business he places with the company. The commission rates for different lines of business might very auto insurance commission will be different from the property insurance commission.

      In this case, the broker is guiding you properly - though his own personal interest of getting commission is solved but it in your interest to obtain both the coverages of auto and home with one insurer. For eg if you auto policy is 0/- per month and your home policy is 15/- for month - if you place both of them with one insurer you get 10% discount. With this - you end up with a discount of .50 per month, thus with an additional premium of .50 out of your pocket you get your home/tenant insured. It is a win win situation for all - since you transfer both your risk of auto and home, the broker gets a higher commission and the insurance company also gets more premium and clients.
      Maybe, your broker has not been able to explain it correctly or he is over persuasive.

33. QUESTION:
    Fire and theft auto insurance with G1 License?
    Hey Guys, I got my G1 license last week and now I'm working towards my G2 road test. In the mean time, I've got a good deal on a car and ended up buying it. I already transferred the ownership and now I'm looking for an insurance to get a license plate so that I could park that in the parking lot.I'm not gonna drive it anyways. Someone told me that, I could get a fire and theft insurance while waiting for my G2. Called few of the insurance companies and of no avail. Will be calling insurance brokers tomorrow.

    Do you guys have any ideas/suggestions?

    • ANSWER:
      The coverage you are talking about is called Comprehensive coverage. Comprehensive coverage will cover damages to your vehicle that is caused by something other than a collision (i.e. fire, theft, vandalism, flying objects, etc). However no one in Ontario is going to sell a new policy that is Comprehensive coverage only because Comprehensive coverage is not very expensive (relative to other coverages) and it's not worth the insurers time to issue such a policy. Some insurers will let you insure a vehicle for Comprehensive coverage only after you've been insured with them for a while (at least a year), but as I said no one is going to issue a new policy Comprehensive coverage only. The only thing I can recommend is transferring the vehicle into your parent's name and insuring the vehicle for Comprehensive coverage only on their policy.

34. QUESTION:
    expired auto insurance and feedback needed for Security Insurance Services Inc Boston MA?
    First year I got a new car, I know nothing about it, then I need insurance, I went there for it.
    Charged me 00 for one year insurance.

    2nd year liberty mutual sent me the renewal, only cost me 00 for year.
    And I didn't get the renewal letter this year, I asked Liberty mutual, Libert mutual wanted me to contact the broker.

    I called Security Insurance and they said something wierd happened within my account. I asked them what is weird, they won't tell and insisted me to come over to take a look. That sounds weird to me, like some kind mouse trap. I am planning go to AAA or Liberty Mutual again since it sounds really tricky to me.

    My auto insurance is expired, can anyone give me any idea or helps.

    • ANSWER:
      I think the weird thing that happened was that they somehow doubled your insurance premium for that first year. The 00.00 premium sounds more in line with what it should be for a year. You had better call them and make them tell you on the phone what happened. Tell them you cannot get there by yourself. If you have to go to see them, take a trusted friend or relative with you.

35. QUESTION:
    Why use a Broker/Agent to deal with Insurance Company?
    Four Questions:

    1) Why not cut the middle man out (broker/agent) and come to a deal directly with an insurance company (auto insurance, or home insurance)?

    2) If they only deal with brokers/agents then why?

    3) Why not just get my license to become a registered agent/broker, not go into business, and get my insurance at a significant discount that way?

    4) How do brokers/agents get paid? When i see my yearly premium on my auto/home insurance is a percentage of that going to be paid out to the broker/agent..if so then how much can i save if they werent there?

    • ANSWER:
      You will pay the same premium even if you don't use a broker or agent. It is illegal in most states for companies to rebate to customers. Therefore, you must pay the same premiums if you have an agent or not. Why wouldn't you want a buffer between you and the company to look out for your best interest?

36. QUESTION:
    ALBERTA 3 month or less auto insurance plans?
    I am an Australian currently based in Calgary. I just bought a car for work and have tried to get it insured, however all the brokers I have called will not do less than a 6 month plan and I will only be in Calgary for 90 days.

    I only want the bare minimum insurance to make it legal for me to drive on the roads. I believe this is the 0k liability/3rd party insurance.

    Does anyone know any brokers that do 3 month or month to month insurance plans like ICBC?

    Thank you

    • ANSWER:
      6 months would be the minimum, but if you no longer have a car at the end of 90 days and want to cancel your policy, you can do so. You might even get a partial refund of premium paid.

37. QUESTION:
    Insurance Brokers Commissions and Residual incomes?
    I already know that insurance brokers for auto and home make an initial commisison averaging 0 depending on the policy.

    I want to see if anybody know about the residual income that a broker makes of each client. I knew someone that was a Allstate broker a while back that mentioned he made a percentage of each clients payment each month.

    Does anybody know how it works and how much on average a broker makes on residuals after the inital commission?

    • ANSWER:
      LOL on what planet?? If the average auto premium is 0, then you'll get about 12% straight commission - if you're an agent in someone else's agency, you keep HALF of it. Ditto on the homeowners, depending on where you live, the average homeowners premium is probably around 0 a year, commission is a bit higher - maybe 20%.

      If you DON'T work for someone else, you're paying office expenses (like postage and phones), rent, and insurance for YOUR business.

      Residuals are the SAME with property/casualty. But you have to RENEW the policy in order to get paid. And all those "monthly payment surcharges" are NOT included in residuals.

38. QUESTION:
    I'm looking for affordable auto insurance...?
    I am looking for an affordable auto insurance in New Jersey. Does anyone have any ideas. And is it true that a Broker is a good option? What would be a reasonable rate for just a PIP and a older car? I have no accidents or tickets.

    • ANSWER:
      Maybe you could get a quote from insurers you get from yellow pages,. the internet, the TV, the radio.

39. QUESTION:
    Any opinions on Rutherford Thomas Incorporated in Roanoke, VA?Do they supply consumer auto insurance.?
    I had an uninsured accident on 07-03-2006, I am trying to contact the victoms insurance company to begin payment arrangements to fix their car. They are an older couple and I feel really bad about the situation; but all they could tell me was that they only new their Ins. broker, "Thomas Rutherford Ins. and not the actual company that held their policy. They did tell me that it was in Roanoke, VA. I did a web search and what I found was Thomas Ruthafoord Inc.: does this sound like the correct place to contact? Please Help!! ThankYou, mrcleandad2004@yahoo.com

    • ANSWER:
      sounds likely it is correct. best to give them a call and ask if one of their clients is the one that you were involved with in the acciden.

40. QUESTION:
    AUTO INSURANCE over charge! what to do? am in US?
    Auto insurance rip off! what to do?
    My sister bought a car and needed a temporary insurance at the dealership before she could take delivery of the new car.

    We saw AUTO INSURER flier called TALRO INSURANCE and called.The one month quote was just over 0, still higher than rates at other bigger and reputable companies and very low coverage.

    anyway, 3 days later, we called and later wrote to request to cancel the policy and refund the amount.

    She never received refund check and instead kept receiving monthly bills.

    so after numorous calls, She receives a check for only .

    She was supposed to receive over 0 as she only used 3 days of the 30 days policy.

    We call them and she was told that they took out for broker fees.
    She called her AMEX card customer service rep to dispute that 0 charge and AMEX credited the amount to her card.

    Now, can she just go ahead and use/deposit the only check amount from that rip off AUTO INSURANCE company to her checking account or don't use that refund check from the AUTO INSURANCE COMPANY ?

    Will AMEX's 0 credit be permanent or will cancel it if AMEX finds out that I used the refund check from the AUTO INSURANCE company?

    What's your advice?

    thanks in advance!
    there is no cancelletion fees on auto insurance policies in illinois.

    it was just a fee the agent said. very rude, unwilling to even answer my questions

    • ANSWER:

41. QUESTION:
    Auto Insurance qustions?
    Ok so I filling out auto insurance application and 2 questions that Im not sure what to put, hope somebody can help. I called broker but shes not in office and Im stuck. n/e ways one of the questions is Vehicle purchase date and other question is price paid for vehicle.
    This car was giving to me (free) so I didnt pay anything for it. But car still not on my name yet.
    Car still in her name havent got time to change it to my name.
    Ok Finally got in reach with Insurance Broker and car does not have to be on my name to get car insurance.
    Thx Everyone

    • ANSWER:
      You need to have the car in your name in order to have an "insurable interest" in the car. I would get the car's title transferred ASAP. Also, as far as the price goes, You could probably just look up to see how much that year make model sells for and use that.

42. QUESTION:
    I am an active CA real estate Broker who just passed the CA insurance test and am awaiting my license.?
    I want to start selling various types of insurance (auto, home, commercial, worker's comp. etc) as a broker. I don't want to do the 9-5 with say State Farm or such, but want to start selling as an independant Broker. I have already sent in my bond. Where can I go to learn the business? I am active in real estate, which is why I don't want to be locked into a 9-5 with anyone. Any suggestions?
    FTH - thanks for the post. Actually, the insurance school I attended said that the difference between an insurance agent and an insurance broker is that the agent represents the insurance company and the broker represents the client. Also, that agents need appointments - and brokers do not. They can, but it's not necessary.

    • ANSWER:
      Hands on is really the best. If you don't want to do that, I would suggest taking as many continuing ed/ training classes as possible. Also, it is probably best to focus on one type of policy. If you are selling homes, focus on homeowners. The field is very vast and there are so many laws and rules. You don't want to put yourself in a situation of being uninformed and getting and Errors & Omissions claim against you.

43. QUESTION:
    How does a non-profit sell insurance?
    I am helping to build a local church and we'd like to offer auto insurance (and other types later). I think we need to find a broker but I'm not really sure. We're based in Nebraska. Thanks!
    I'm a little confused by these answers. USAA was started by four army officers and knights of columbus and some lutheren group started reletivly small.

    • ANSWER:
      you have to have a LICENSE to sell insurance, even if you're acting as a broker or middleman. THEN, you need to find either a broker, or an insurance company willing to let you sell their insurance.

      Most brokers are NOT going to split the commisison with you, and I don't know of ANY carriers that will give you an appointment with no experience.

      Maybe you need to look at WHY you want to offer auto insurance, and see if there are other ways to accomplish the main goal. Commissions are only about 10%, so it's NOT a huge moneymaker.

      I don't think the non-profit status is relevant - the CHURCH can't get a license to sell insurance, but you'll have to consult your attorney for further clarification.

44. QUESTION:
    Texans! - Where can I get a decent car in Dallas area for k or less?
    Would be looking at a 15 mile round trip commute - just need something that would last two years

    Also if any of you know a good auto insurance broker.....

    • ANSWER:
      Try craigslist.com. Look for cars being sold by owners and not dealers. Look for single owner cars and ones with carfax data. Do not believe the data unless you pull the data yourself. Since these are local owners, you will get a better price. Ask detail questions on the history and condition of the car. Drive y and get it inspected by a good auto mechanic before buying.

      AMICA is one of the best insurance companies, easy to deal with and very prompt in response. Call them. Best way to get the best rate is to shop around and compare deals for insurance if you have the time.

45. QUESTION:
    Will I get money back if my old insurance company is charging me after switching to a new one?
    Okay, I was under the impression that when I got a new auto insurance policy my old one would be cancelled, I listened to my mom on that one, foolishly. Because I have been getting charged monthly for my policy. (both of them) and have now been insured under two policies for 2 months, I just realized this tonight when I checked my online banking). I would call the broker now but the office is closed at the moment and this is driving me nuts What are the chances that I can get a refund on the 2 months that i have been double-insured? Or am I just out 2 months worth of ins. with nothing to show for it?

    (and on that note, if I were to get into an accident would I recieve double the compensation?)

    • ANSWER:
      You will not receive double the compensation, that's illegal. The only time this benefits you is if you are at fault for an accident and your liability limits on 1 policy aren't enough to cover all the damages.

      Your insurance should cancel the date your new policy started and you should receive a refund on that premium. Be prepared to prove your new coverage by way of a declarations page.

46. QUESTION:
    home insurance cancellation`?
    Our insurance broker said the company is about to cancel our policy, and sent us photos of our house. Though we have a service that clears bushes and mows grass, during the winter several bushes were considered by the company to be too large and too near the house. Though we corrected that before we even knew that was a problem (and we have an HOA that monitors that as well), it appears they may cancel anyway. The house is kept up well, and it is in a lower middle class well kept sub division. The broker did say...they might keep insuring us if we also start getting auto insurance from them. (Also--we have been with them 7 years, and they paid to replace a hail-damaged roof). My question is--if they cancel us, will it be hard or more expensive to get new insurance, or should we terminate the insurance before they cancel us? Thanks...

    • ANSWER:
      What exactly is the REASON for the cancellation? If it's because the house is vacant or unoccupied or not owner occupied, you don't have a leg to stand on - a HOMEOWNERS policy MUST be occupied by the titled owner of the house.

      So, if they cancel you, it's not the CANCELLATION that will make new insurance more expensive or hard to find, it's the REASON for the cancellation. It's pretty unusual that overgrown bushes is the reason for cancellation.

47. QUESTION:
    I got declined for auto insurance whats the best thing I can do ?
    I live in ontario canada and got a quote over the internet, i wanted to insure the car the day i was gonna get it. so then i called TD insurance and asked them to insure me and i told them i never had any tickets in the past 3 years but they found a major driving offence in may 2007. i got caught driving with no licence at all. so then the insurance company found out and they said they can only insure new drivers with clean record. but the record was before i got my actual g1 and g2. I called a broker and it ended up to be 3 times more than i was quoted for TD.
    whats the best thing I can do ?

    • ANSWER:
      You may have been simply denied for lying. The best thing you can do is shop for another policy and never, ever lie to an insurance company. Many companies have special high risk insurance that they can put you into. It's more expensive but you may not have a choice.

48. QUESTION:
    Advice on becoming a secondary driver on b/f's auto insurance...?
    Hi there!

    A friend of mine took a defensive-driving course last year, she is 46 yrs old and got her license last summer. The day she passed her road test, her boyfriend put her on his insurance plan as a secondary driver, and it only cost him another a month. I'm 38 yrs old, have just taken the same defensive-driving course and got my license this week. When my boyfriend called his insurance company to have me listed, they quoted him a small fortune to have me as a secondary driver. I wasn't with him when he spoke to his broker; I was hoping to get some advice or reasoning regarding this.

    I'd also like to know if anyone could tell me how much more they have paid for insurance after listing a secondary driver. I have to say that it's extremely discouraging to have paid so much for this course, then find out that I can't drive the only car that's available to me unless I pay nearly 0 dollars in fees until his policy renews... in just over a month! Wow! Apparently when it renews, the policy will change, and then it will be much cheaper, but not until then... WTF?

    I should add that I'm from Nova Scotia, Canada... because rates and laws vary from region to region. Here, anyone can drive my b/f's car so long as they do not live in the same household... so my friends could drive his car, but I can't. Frustrating!!!!

    • ANSWER:
      So it appears you live at the same address. You have two choices it appears, pay the 0 for fees, or don't drive his car until the policy renews and it will become cheaper.

49. QUESTION:
    Would you be opposed to government auto insurance?
    When I lived in Manitoba Canada whenever I bought car insurance I had to buy provincial government insurance. When I compared the price I was paying to what I would pay in other provinces that have private insurance it turned out that I was paying a lower price for the same coverage. One year when there were fewer accident claims in the province everyone who had purchased car insurance received a rebate of at least 0, depending on your premium. From what I understand they have since given out more rebates. No private insurance I know of has ever offered a rebate when there were fewer claims.

    The people who sold the policy were small private brokers who received a commission and also sold life and home insurance from private companies. These brokers were also contracted to renew driver’s licences and sell vehicle plates, for a commission. It was all one stop shopping and very efficient.
    They have even gone so far as to subsidize you in purchasing an engine immobilizer to prevent thefts in easy to steal vehicles. The subsidy made everyone’s premiums lower.

    The main reasons for public insurance was that large private companies were seen to be overcharging for something that was vital to the province’s economy, and a government not for profit organization could offer cheaper.

    Would you be opposed to a government monopoly on car insurance like it is in Manitoba if it was cheaper for you the car owner?

    • ANSWER:
      It's a must have in my state already.

50. QUESTION:
    Auto Insurance in Ontario, Canada.?
    I am 17years old with a g2 license. I'm wondering if there is any place that will insure me on a 1995 golf gti 4cyl. All the quotes I did range from 455-900 a month which is INSANE! I can't go under second driver period. I need insurance! Where should I go... any good brokers...

    • ANSWER:
      Try Belair Direct. They've got some pretty good rates, and advertise on college campuses, so probably cater to younger drivers.
      belairdirect.com or .ca
      (can't remember which)