Do You Lend Your Vehicle to Uninsured Drivers?

Since the concept of insuring a car against road accidents became compulsory as well as common sense, insurance companies have issued policies. History proves that the first policy ever written for car insurance was recorded way back in’95 in the United Kingdom.

Anytime somebody drives your car without a valid license or insurance and they are involved in an accident, the insurance company is not liable to pay for the damages.

Finding the right car insurance company is a complicated manner. It involves several phone calls and/or visits to the main office. This was especially difficult for rural residents in the old days. It’s obviously easier today, but many people still view the process as a hassle.

Brokers have become an essential component in the insurance process. They were hired in the old days to reach customers who could not reach the main office. Today they still serve a strong purpose, although the internet is running a few of them out of business.

Insurance brokers are business people who earn their profits by commissions from the insurance companies whom they represent. Most brokers are professional trained and extremely well versed in the polices currently available.

Outstanding brokers not only serve the consumer when signing up for the policy, but also in a time of need. If the client is involved in an accident, the broker should step up to the challenge, handling the claim quickly and effectively.

Generally the claims are handled quickly and effectively, and the customer is satisfied which creates a long last relationship with the broker. Others never form a bond, and instead use their wallet as a guide to which broker meets their needs the best.

Some people consider it tragic that this type of relationship is dying out. The main reason is the internet. Brokers are making the move to online insurance, where consumers can compare quotes with a click of a mouse. Switching to online insurance often saves consumers between ten and fifteen percent of their annual insurance premium, so the savings are much welcomed.

Graham McKenzie is the content Syndication Manager at Insurance123.co.za South Africans leading car insurance information portal