The Internet and It’s Impact on Car Insurance

March 17, 2017 · Posted in General Articles on Car Insurance 

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.

In the early days, few people had a need for car insurance. First off, few vehicles were on the road so most people did not even own a vehicle. Today, it’s very common for people to own vehicles and the law had adjusted to protect all people on the road.

Finding insurance coverage has always been a frustrating manner. In the old days, it often involved a long trip from the rural setting to the large city where insurance offices were located. Today it’s much easier to contact insurance companies.

In the past, insurance companies answered the growing demand for car insurance by hiring brokers. These people were licensed and rich in knowledge of car insurance. They were also very friendly and open to meet with potential clients to discuss different policies.

Insurance brokers are business people who earn their profits from commissions by the insurance companies whom they represent. A professional insurance broker will have received some type of formal training as well as being extremely well versed in the policies available not only from their employers but also from competing companies.

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.

As I mentioned earlier, brokers are slowly losing their jobs to the digital age or are transferring to doing business online. More people are finding online insurance easier to get and compare. The polices are also usually cheaper, because consumers avoid paying broker fees. Statistics show that people save between ten to fifteen percent of their annual insurance premium by doing business online.

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