Insurance Question

PeterB11

So I got my license back friday after all

Got a quote friday evening on a few cars, but never asked one question.
I was going through brokers, and got some "reasonable" quotes, under the circumstances, but do all brokers and insurers require you to pay some of the insurance money up front if I chose to pay monthly?

Or is that just online brokers like 123.ie and that?

Thanks

focus_mad

I'd say you may have to pay a certain amount as so to act as a Safeguard.

Not 100% cause I usually just bit the bullet and pay it!

PeterB11

was thinking that, anyone else any experience on this?

MugMugs

Generally 20% up front.

Otis Driftwood

PeterB11 wrote: »

So I got my license back friday after all

Got a quote friday evening on a few cars, but never asked one question.
I was going through brokers, and got some "reasonable" quotes, under the circumstances, but do all brokers and insurers require you to pay some of the insurance money up front if I chose to pay monthly?

Or is that just online brokers like 123.ie and that?

Thanks

You hardly think they are going to give you a cert and disc without taking any payment whatsoever do you?

The deposit is generally between 15 and 30% of your annual premium and any broker fees will be added onto that aswell.

godtabh

Otis Driftwood wrote: »

You hardly think they are going to give you a cert and disc without taking any payment whatsoever do you?

The deposit is generally between 15 and 30% of your annual premium and any broker fees will be added onto that aswell.

Do the insurance companies not kick the broker a kick back for getting the insurance?

Mr Benevolent

I paid a €40 down payment to First Ireland and pay monthly for ten months.

voojeq

PeterB11 wrote: »

So I got my license back friday after all

Got a quote friday evening on a few cars, but never asked one question.
I was going through brokers, and got some "reasonable" quotes, under the circumstances, but do all brokers and insurers require you to pay some of the insurance money up front if I chose to pay monthly?

Or is that just online brokers like 123.ie and that?

Thanks

If you choose to pay monthly then you're applying for a loan. Deposit has to be paid in order for a loan to be provided.

EauRouge79

most insurers will require deposit. Usually equal this is your 1st monthly instalment up front.
All insurers vary though i.e some take deposit up front some just take it from you within a week or so.
And some insurance dont do a direct debit at all.
Your broker will go through it with you though. Insurers will generally charge 6/7% interest for arranging the direct debit though.

EauRouge79

godtabh wrote: »

Do the insurance companies not kick the broker a kick back for getting the insurance?

Yes, usually about 5% for private car insurance. The insurers pay the broker this for aquiring the business for them.