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View Full Version : Insurance broker vs direct/agent



speedog
01-07-2016, 08:02 PM
A lot of insurance talk as of late and that got me curious as to how many are utilizing the services of a broker for their insurance need's as opposed to dealing directly with an insurance company/agent.

relyt92
01-07-2016, 09:12 PM
I deal with Touchstone.

Xtrema
01-07-2016, 09:18 PM
Been with AMA ever since I started driving. 1 not at fault claim so far and they have been ok service wise. On average they are more expensive except for 1 year where TD didn't beat them.

I probably should shop around a bit tho.

KRyn
01-07-2016, 09:50 PM
Originally posted by relyt92
I deal with Touchstone.

relyt92
01-07-2016, 10:02 PM
Originally posted by Xtrema
Been with AMA ever since I started driving. 1 not at fault claim so far and they have been ok service wise. On average they are more expensive except for 1 year where TD didn't beat them.

I probably should shop around a bit tho. Wouldn't hurt to send a broker a quote request, would only take a few minutes of time and could save you a good chunk of change.

HiTempguy1
01-08-2016, 12:00 AM
Originally posted by Xtrema
Been with AMA ever since I started driving. 1 not at fault claim so far and they have been ok service wise. On average they are more expensive except for 1 year where TD didn't beat them.

I probably should shop around a bit tho.

Same here (ama my whole life), been driving since 16, I am now 27. Finally changed this year, only basic liability, my rates were cut in half going with 1UP insurance broker (sponsor on 780tunas). The insurance is through intact.

In short, anything to do with banks or insurance, deal with a broker. Big name insurance companies and banks will screw you.

sabad66
01-08-2016, 07:12 AM
I deal with TD (formerly Meloche Monnex), but my pink slip says "Security National Insurance Company"

So is TD a broker or an Agent in this case?

msommers
01-08-2016, 08:15 AM
Touchstone has been great. The staff recognize your name and give a shit.

End of story.

viff3r
01-08-2016, 09:33 AM
3rd option in the poll should be Touchstone.

cet
01-08-2016, 09:43 AM
I was with Meloche Monnex from when I started driving. a few years ago they significantly raised my house insurance so gave Touchstone a call. I can't imagine going back to direct now.

carson blocks
01-08-2016, 10:14 AM
I deal with a broker, Masked Bandit / Touchstone. The rates are good, but honestly I wouldn't even care if he was 25% more. At a certain point in life you learn that value is more important than cost, and I couldn't put a price tag on the insurance advice, business advice, and even the occasional piece of life advice I've received over the years. I don't even shop around anymore, it's just "MB, I bought a thing", and it gets added to my policy.

He asks the intelligent questions to determine what coverage I actually need and has actually downsold me on coverage I really didn't need before. You can have conversations about things and whether or not to claim them, without it getting back to your insurer. A good relationship with your broker is more important and will save you more money in the long run than some internet discount or direct insurance, not that MB/Touchstone hasn't always been the cheapest back when I did bother to check.

ExtraSlow
01-08-2016, 10:23 AM
Originally posted by cet
I was with Meloche Monnex from when I started driving. a few years ago they significantly raised my house insurance so gave Touchstone a call. I can't imagine going back to direct now.
This is my exact situation. TDMM treated me fine with both car and auto claims, but the coverage on the house got worse, and the rates got higher until I had had enough and called Touchstone. Touchstone has been good to deal with so far for advice and changing vehicles. I generally just email them when I buy or sell a car, and they email me temp pink cards within a few business hours. Zero hassle. Haven't had a claim with them yet.

speedog
01-08-2016, 10:55 AM
Originally posted by viff3r
3rd option in the poll should be Touchstone.

Umm, they are a broker, no?

speedog
01-08-2016, 11:02 AM
Originally posted by ExtraSlow

This is my exact situation. TDMM treated me fine with both car and auto claims, but the coverage on the house got worse, and the rates got higher until I had had enough and called Touchstone. Touchstone has been good to deal with so far for advice and changing vehicles. I generally just email them when I buy or sell a car, and they email me temp pink cards within a few business hours. Zero hassle. Haven't had a claim with them yet.
Just asking because I deal direct but aren't all claims handled by the insurance company or at least in monies exchanging hands? Or do any exchanged claim monies actually pass though the broker's hands, the monies that would flow from one insurance company to another or to a body shop?

cet
01-08-2016, 11:22 AM
Originally posted by speedog

Just asking because I deal direct but aren't all claims handled by the insurance company or at least in monies exchanging hands? Or do any exchanged claim monies actually pass though the broker's hands, the monies that would flow from one insurance company to another or to a body shop?

I had a claim at the beginning of 2015. I called Touchstone to let them know I had been in an accident and they referred me to the insurance company's claim department. I called them and filed a claim. From there an independent adjuster contacted me and he is who I dealt with through the rest of the process.