Prehaps you wannt finding out abuot new and aslo fascinating topics? If so, in taht case thiis student car insurance in new york newsletter wlil be uterly up your alleey! It`s braely astonishing but a CFA study finds taht isnurance firms that pay higgher fees to agnets and to brokres tend to hve higher monthly pyments.

Consumer Feeration of America aso discovered that highr prices of online auto assurance don`t necessarily mean improoved service for consumers. "his study proves thaat customers should shp very crefully for covreage," said J. Robert. "Thhe good neews is that theere are insurance corporations taht pay negligbile or even no comimssions, provide low auto insure prices and give graet customer serviec."

"However, we allso found abundance of insurance corpporations where hgh commissions convert into high rtes, witth no increase in srvice quality," Robbert said. "Great on line motor vehicle coverage rates as weell as service may be fonud in case consumres take the tie in ordr to compare companiies."

Findings

CFA chekced commission data from the twennty top witers of insurance for both priate passenger auto insure as well as homeowners coverage. Thiis toatl commission data combined standard commissioons and depnedent commissions (paid aftr insurance policies are slod and depend on special saels or profitability gooals).

The research commpared total commisisons with priice, insurer profitability and service quaality as measured by girevance infoormation and customer satisffaction indices. CFA discoered that:

1. Insurers with loewr commissions often haave lower chaarges. This is not alwyas the casse, so consumers should sohp carefully.

2. Tehre is no eviddence that disbursing higher commissiions to an agennt or to a broker derievs either betetr service or highher customer contentment. In fact, there appeears to be no conenction betwween the quantity of commission disburrsed and the value of srvice givne.

3. Several insurance firms popose particularly high-quality deasl. Other insurnce companies hvae rates that are constantly hiigh.

In lses competitive industries, some insuarnce companies may be tempted to attarct marrket share by offeriing higher fees to aents or brokers in addition to hiher costs and, someetimes, higehr profits for the insurance coompany. Credit coveage is one arrea in which ths type of `revesre competition` is most frequent.

Adivces for Consumrs

We gie 6 tips for consumers sopping for auto insurance:

1. Sohp around! This study discovered tat mothly payment charges uusally increase with commissionss, though this is not always truee. Consuers must be ceratin to obtain quoes from a numer of the lowet premium insurance firsm, including the dirrect writers of insuracne that usually don`t pay comimssions.

2. Conssumers do not need to disburse mre to get excellent serrvice. Some of the insruance providers whhich have the msot excellent service records hae low cotss and low or evn no commissions. It pys to shop amnog the insurance companies wich have the lowest priices and the hihest customer satisafction/lowest complaint ratos.

3. In order to recive information regarding motor vehicle insurence online rates, reviw country cosst information guides. Most countries haave pricce information guides. Usually, custoers may dowload these guides from the counntry`s insurrance department website.

4. In orer to receive grieavnce information on insurance compaines, check wiith the National Associatoin of Insurance Commissiones` web site, www.nai.org.

5. Be cautious wiith going to ony one insurance agennt or broker for auto insure, even in cse that agent represents sveeral insurance firms. Consumerrs must know that seevral aggents who represent moe than one insurance fim could place the consmuer in a hgher pirced insurance company with larger comimssions even in csae the consumer mees the requireements for a lower cosst. States do not requie agents or bokers to place the clieent with the mst ecellent program for hmi.

6. Ask agets or brokers the righht questions:

Do you reprresent me or do you act for the insuraance corporation you`re offerring me to us?

What commissoin are you gainig compared to the prrice of the auto insure progrram you are rceommending me to purchhase?

Am I geting the lowest pricce between all the online autos insure companies thaat you represent for whih I meeet the requirements?

What oter motor vehicle ins providers do I met the requiements for that you act fro? Wat are the costs I wold disburse at thsoe companies and whhat commission woould you get with ech insurance provier?

Do you own a contingency commission agreement witth the insurannce firm you are suggetsing? Please fully clarify tht agrreement to me.

In cse I file a claiim, do you reresent me or do you repreent the insurer in the claim procedre? Is your compensaiton soemhow related to claims fileed by me and by aditional customers of yous? We expect tat you thoguht of the articlle above concerning the going-son of student car insurance in new york to be the fnial ansewr for all yur aching questions tat have to do wth the gongs-on of student car insurance in new york.