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-   -   Brokers Fee (https://www.biker.ie/forum/showthread.php?t=251391)

Unfazed 21st May 2020 02:03 PM

Brokers Fee
 
How many have noticed this brokers fee on their renewal.
Gone from zero last year to over 80 this year.
Are they taking the piss or what
[url=https://postimg.cc/ns9R3n3P][img]https://i.postimg.cc/ns9R3n3P/Broker-Fee.jpg[/img][/url]

gipi 21st May 2020 02:15 PM

Re: Brokers Fee
 
They used to hide the fees in the overall price in years past, so we were paying a fee whether we realised or not.

If you con'tact them, it's the one bit they might negotiate on - buddy of mine renewed his bike insurance earlier this month, and they waived the broker fee in lieu of a reduction in the premium coz the bike's in the shed at the moment..

jp biker 21st May 2020 02:30 PM

Re: Brokers Fee
 
Got my renewal with principle
50 broker fee and the bike
Hasn't seen Road in 2 months but
The policy is 100 less this year.
I still might make a few calls

Meepmeep 21st May 2020 04:51 PM

Re: Brokers Fee
 
Got my renewal in from CN.

Broker Fess gone from zero to 46.

Discount of 13 that was on there last year is now gone. I've no idea where that came from anyway but it's gone now!

Insurance itself gone up by about 47 too.

Will ring around a bit.

patod02703 21st May 2020 05:35 PM

Re: Brokers Fee
 
Carole Nash have had to switch to AXA, due to Brexit. They tried to justify the 46 broker fees they wanted this year by waffling on about how dropping the fees last year was some kind of special deal that they couldn't do this year.
But after the usual bluff and bluster, yer wan on the phone put me on hold for 30 seconds while she supposedly spoke to her supervisor, and lo and behold, they managed to drop the broker fees again this year.
I suspect nothing at all happened while I was on hold, other than me listening to Johnny Rea telling me how much he loved Carol Nash, but if listening to a Nordie for 30 seconds saves me 46 yoyos, then I'll listen away.
Its like an annual ritual now, a little dance of I stepped out and she stepped in again, this bike insurance phone renewal game, I'm telling ya.

jp biker 21st May 2020 08:11 PM

Re: Brokers Fee
 
[QUOTE=patod02703;3592356]Carole Nash have had to switch to AXA, due to Brexit. They tried to justify the 46 broker fees they wanted this year by waffling on about how dropping the fees last year was some kind of special deal that they couldn't do this year.
But after the usual bluff and bluster, yer wan on the phone put me on hold for 30 seconds while she supposedly spoke to her supervisor, and lo and behold, they managed to drop the broker fees again this year.
I suspect nothing at all happened while I was on hold, other than me listening to Johnny Rea telling me how much he loved Carol Nash, but if listening to a Nordie for 30 seconds saves me 46 yoyos, then I'll listen away.
Its like an annual ritual now, a little dance of I stepped out and she stepped in again, this bike insurance phone renewal game, I'm telling ya.[/QUOTE]

I'm with principle and there using AXA also

Big H 22nd May 2020 10:47 AM

Re: Brokers Fee
 
I also renewed yesterday with CN - 6 mins on the phone (5 of them llistening to pre-recorded messages), telling them a lie that Principal quoted me 203 (they actually quoted over 300), so get it under 200 or I walk....:ninja:

The 30 second 'let me put you on hold and I'll talk to my supervisor lie' and they come back with a 199 quote - result.

Never ever accept the initial renewal quote - they have plenty of scope built in to lower if needed ! :thumbsup2:

Technician 22nd May 2020 10:55 AM

Re: Brokers Fee
 
Also got the broker fee removed, nothing more than a simple request.

2002cb500 23rd May 2020 07:38 PM

Re: Brokers Fee
 
[QUOTE=Big H;3592372]I also renewed yesterday with CN - 6 mins on the phone (5 of them llistening to pre-recorded messages), telling them a lie that Principal quoted me 203 (they actually quoted over 300), so get it under 200 or I walk....:ninja:

The 30 second 'let me put you on hold and I'll talk to my supervisor lie' and they come back with a 199 quote - result.

Never ever accept the initial renewal quote - they have plenty of scope built in to lower if needed ! :thumbsup2:[/QUOTE]

I have done the same with Principal. Have been able to get the insurance to drop every year with this trick

R.M 23rd May 2020 08:04 PM

Re: Brokers Fee
 
Are AXA the underwriter for all policies now....bar MCE or what's the story.
Can't be a good thing that we are limited to one underwriter.

There was a 1000 difference between Principle & CN with AXA as the UW:ninja:

seano 23rd May 2020 11:34 PM

Re: Brokers Fee
 
[QUOTE=R.M;3592464]Are AXA the underwriter for all policies now....bar MCE or what's the story.
Can't be a good thing that we are limited to one underwriter.

There was a 1000 difference between Principle & CN with AXA as the UW:ninja:[/QUOTE]

Liberty and Axa basically.

efanton 24th May 2020 01:36 AM

Re: Brokers Fee
 
[QUOTE=Meepmeep;3592349]Got my renewal in from CN.

Broker Fess gone from zero to €46.

Discount of €13 that was on there last year is now gone. I've no idea where that came from anyway but it's gone now!

Insurance itself gone up by about €47 too.

Will ring around a bit.[/QUOTE]

That would be the result of Pearse Doherty's Consumer Insurance Contracts Bill which passed into law last December.

Basically, people were getting shafted with hidden fees and charges regarding their insurance policies.
SF were the only party that went after the insurance companies, and somehow managed get a bill though the Dail to bring in new legislation to try curb some of the insurance industries excesses.

It is now law that any broker itemises any additional fees or charges that they might add to the cost of the insurance policy.

Now people actually see what they are paying for.
Apparently some of the fees and charges being charged to some business sectors were horrendous, but now they can see clearly if they are being ripped off.

Basically if you see a broker overcharging, you can go to another broker and get your insurance at a lower cost because their broker fee is lower. Brokers cant use the excuse 'its what the insurance company charges' any more.

you can read the entire bill here if you want and you have too much time on your hands because of Covid.
[url]https://data.oireachtas.ie/ie/oireachtas/act/2019/53/eng/enacted/a5319.pdf[/url]

Worth a quick read if you have time.

For instance if the insurer changes any policy detail they must inform you in writing or durable medium (email I assume)

A broker cannot ask you any question without giving a reason for asking that question. You can request any additional question be asked, and the reason for it, in writing.

If there are any ambiguities, or misunderstandings because of wording, then by law that misunderstanding will always be in favour of the consumer. Basically the insurance company is now forced to write everything in plain English, and not hide behind complicated phrases or euphemisms or refuse a claim because the consumer did not reasonably understand a clause in the policy.

christyg 26th May 2020 10:46 AM

Re: Brokers Fee
 
Rang up CN as the fee was way more than i ever remember, made a complaint, they reduced the fee to nil.

Technician 26th May 2020 12:16 PM

Re: Brokers Fee
 
Anyone enjoying the mandatory "optional" extra from CN in the form of roadside assistance? Told them I didn't need it as (a) it's shite, and (b) I have AA cover who are brilliant. Turns out the optional extra is not optional at all so the 69 I thought I would take off the policy never moved.

Base premium is 140 otherwise, quite shocking how cheap bike insurance is now, but annoyed at AXA over this breakdown assistance I don't actually need.

noob-saibot 27th May 2020 10:55 AM

Re: Brokers Fee
 
I renewed last month and got CN to knock the broker fee and a bit off but when I asked about Covid19 money off due to lack of use etc they said they can't do anything at renewal time but they'd get back to me when they know more from underwriters. Seems both CN and Principle are using Axa as underwriters and iirc Axa are one of the cage cartel who said they are going to be refunding people back money on their cage insurance policies due to Covid19 a few weeks back. Has anyone heard from CN or Principle with regards to what Axa are doing for bikes yet?

2002cb500 27th May 2020 11:19 AM

Re: Brokers Fee
 
Got a story that they arent planning to refund bikes from Principal


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