Do insurance brokers get paid more?
Under General insurance the broker gets commission on a yearly basis for the business he places with the company. The commission rates for different lines of business might very auto insurance commission will be different from the property insurance commission. In this case, the broker is guiding you properly – though his own personal interest of getting commission is solved but it in your interest to obtain both the coverages of auto and home with one insurer. For eg if you auto policy is $100/- per month and your home policy is 15/- for month – if you place both of them with one insurer you get 10% discount. With this – you end up with a discount of $11.50 per month, thus with an additional premium of $3.50 out of your pocket you get your home/tenant insured. It is a win win situation for all – since you transfer both your risk of auto and home, the broker gets a higher commission and the insurance company also gets more premium and clients. Maybe, your broker has not been able to ex
