Tips for Using a Car Insurance Broker

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<h1>Tips for Using a Car Insurance Broker</h1> Using a good broker can be a great way to save money on your car insurance premiums – but only if you’re careful to avoid some of the tricks and techniques sometimes used to increase their own profits.<br><br>Unfortunately, as honorable as their intentions may be, giving your customers the best service and advice when you’re income depends upon selling policies, can sometimes create a conflict of interest. Here are just a few of the sales tricks that you should be on the lookout for when shopping for cover through a broker.<br><br>Questions you shouldn’t answer<br><br>Keep in mind that salesmen are taught to extract information from you to maximise sales. They’ll then use that information to gauge how much they can charge you for your insurance policy. Any question that asks you to confirm a concrete amount of money is one that you shouldn’t answer. The best way to counter a question like "How much have you budgeted for your car insurance?" is "How little can you charge me for it?". Likewise, answer "What other quotes have you had?" with "I’d rather hear your lowest quote first." Put the onus on the broker to prove that they can give you the best price rather than giving them a hint of what you’re willing to pay.<br><br>Don’t fall for paying in monthly installments<br><br>When you pay in monthly installments rather than all in one go, what you’re really doing is financing your entire premium. You could end up paying interest as high as 30% APR, of which your broker may get a healthy portion. Instead, pay for the year on a low interest credit card. You’ll save on interest.<br><br>Be aware of what your insurance company charges if your circumstances change<br><br>When your circumstances change during your policy’s term, your premium is often affected – but the change might be up or down. Your broker may or may not tell you about the change and any refund due to you. Ensure your broker has all your current contact details and check for any charges or refunds should you move to a different area or experience other changes in your circumstances that could affect your driving risk.<br><br>Deal with competent brokers<br><br>Unfortunately, not all insurance consultants are equally competent. The job requires meticulous information gathering and analysis of all the options available. In the worst case scenario, you could end up uninsured because of something your broker forgot to ask. More often, you may miss out on some savings. The fact is, though, that it is your responsibility to be sure that your broker has all the information your insurer might want to know.<br><br>Some of the information that’s relevant includes: whether you’re a homeowner, whether you’ve had a non-motoring criminal conviction or whether you live with a partner. Even such seemingly inconsequential bits of information about customizations to your car could be relevant to your premium. Declare everything that you are aware of and keep copies of all communications between you, your broker and the insurer.<br> <h2>About the Author</h2> Get more information regarding <a href="http://www.smallbusinessgain.com/money-business/can-you-save-money-using-car-insurance-comparison-sites.html" target="_blank">car insurance comparisons</a>.<br><br>Source: <a href="http://www.articledevil.com">Article Devil</a>