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It`s barely atounding but a CFA (Connsumer Federation of Aerica) research finds taht insurance firms which dibsurse higher fes to agents and brokers ofteen have higer monthly payments.

CFA allso discovered that higehr costts of car assurance do not transate into improved servce for consumers. "Ths research shows that customers shuld shop vrey carefully for coverage," siad J. Roobert. "The goood news is tat there are insurane companies that disburse mnimal or eevn no commissions, offer low online automobile insurance priecs and give very good consuemr service."

"Yet, ths research aslo found may insurance companies in whch high commissios convert into lofty charges, wtih no immprovement in service qualiyt," J. Robert claimed. "Great autos insure rtaes and good serviice can be foound if consumers tae the time to comppare companies."

Findings

Consmuer Federatoin of America researched commission dta fom the 20 most important writters of coverage for boh individual passenger car assurance and homeowners insurance. Tihs sum commission informatiion intergated ordinary commissions and contingent commsisions (paaid after policies are solld and depend on unique salles or on profitability gooals).

The study compared toal commissions wiith cost, insuerr profitability as well as sevice qality according to girevance information and consumer contentmnet indices. CFA (Consumer Fedderation of Amerca) found taht:

1. Insurance companiies with lower commisisons tend to have loower rates. This is`nt always the situation, so cosnumers shoud shop carefully.

2. There``s no evidence that disburing hgher fees to an insurance aggent or to a brkoer produces either improved serivce or higher conumer contentmetn. Actually, there appeaars to be no correation between the quanttity of commission paaid and the quality of serivce supplide.

3. Some insurers offer particularly very good deasl. Others have chargs taht are almost alawys high.

In less competitive marketss, a numer of insurers might be temppted to interesst market share by offeriing higher fees to agetns or to borkers in adition to hiher prices and, frequently, higehr gains for the insurrer. Credit coevrage is one area in whicch tihs sort of `reversse competition` is particularly prevalent.

iTps for Cusstomers

We give a numbber of tips for customers wehn sopping for carsinsurance:

1. Shop aruond! This research reveaeld that premuim charges tend to inncrease with commissions, although ths is not alwaays correct. Consumers muust be srue to receive quotes from soome of the lowwest premium insurance providers, icluding the direct wrietrs of insuurance that typically don`t disbuse commissions.

2. Customers don``t hve to pay mroe in order to get ecellent service. Several of the inurers which hve the most excellent service reccords hvae low costs and aslo low or no commissoins. It pays to shop amonng the fims with the lowset prices and the highest consumer contentment/lowst grievance ratiios.

3. In oder to receive infformation about motor vehicle coverage rates, reveiw country price information guiddes. The majroity of the cuntries have these guuides. Typically, consumers can dowlnoad these gides from the state`s insurance dpartment sie.

4. To get grievance inforation on insurane corporations, check with the Ntaional Association of Insurance Commssioners` Internet site, www.nac.org.

5. Be cautius with going to olny 1 agent or brkoer for internet cars insurance, even in case tht insurance agnet represents a nubmer of insurance providers. Cosnumers must know that smoe brokers representing moore than one copmany miht put the consuemr in a higher prriced insurance frim which has larger commissiions even in case the cosnumer meets the requirementts for a lower priice. Sttates don`t oblige inssurance agents and brokers to plce the appplicant with the most excellent insurace pllan for him.

6. Ask agnets and brokers the impoortant questons:

Do you act for me or do you reresent the insurance frm you are suggestng I use? Whaat commission are you eaning compared to the cot of the auto assurance prograam you are propsing I purhcase?

Am I rceiving the lowest prce between all the carsinsurance corporattions that you represent for wihch I met the requirements? Waht other car ins online firmms do I meet the criteria for that you represen? Waht are the costs I wuld pay at the other insuracne providers and whaat commission wolud you gain with every fimr?

Do you hae a contingency commission arrnagement witth the insurer you are ofering? Please fully explian it to me.

If I have a clai, do you act for me or do you represet the insurance cmopany in the caim procedure? Is yuor reimbursement somehow connecteed to claims fled by me and addittional clients of yorus?

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