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Does your insurance broker charge a handling fee?

  • 13-06-2005 3:26pm
    #1
    Mad Mike
    Registered Users, Registered Users 2 Posts: 717 ✭✭✭


    I have just renewed my car insurance and this year I was surprised to see a handling fee of €25 on the bill. This was over and above the 5% commission that the broker gets from the insurer. I queried it to be told that this is a new charge that has just been introduced and that other brokers are doing the same.

    I can't really complain because even allowing for the handling fee my broker has got me a good quote.Nevertheless I wonder if this practise has become commonplace.

    I know that insurance premiums have fallen in recent years and this directly affects a brokers commission - but are they trying to claw back some of the loss in earnings through the handling charge?


Comments

  • #2
    WICKL0W
    Registered Users, Registered Users 2 Posts: 119 ✭✭WICKL0W


    Some brokers have been charging this for years. If you are getting a bad service from your broker don't pay it but in many instances they are giving good advice and saving you from a lot of hassle. The value of broker is especially apparent at claim stage.


  • #3
    zAbbo
    Registered Users, Registered Users 2 Posts: 11,987 ✭✭✭✭zAbbo


    Most insurance companies woulkd charge a handlers fee of upto 50euro, not all brokers would get 5% commission either

    Are you sure the 25 euro wasn't called DAS legal fee's, which is an absolute bargain as you get free legal fee's in the event of an accident.


  • #4
    Mad Mike
    Registered Users, Registered Users 2 Posts: 717 ✭✭✭Mad Mike


    No ithe €25 isn't naything to do with legal fees - it is definitely just a charge levied by the broker and it is on top of a 5% comission - this is all detailed on the invoice and I queried it just to be sure.

    I guess I agree with you Wicklow that I am still getting value out of using a broker. They definitely ease the process and they seem to be able to get better deals than are available buying direct. Its just that they never charged this before and I wondered if this was a trend.


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