Are there fees if I change insurance companies in the future?
Insurance Brokers are paid by the insurance company when your cover starts. If that cover is cancelled within 24 months, the broker is required to repay some or all of that commission.
We reserve the right to charge for our time if a clawback is incurred. The fee will be the estimated amount of hours the insurance application took at an hourly rate of $250 per hour. Unlike other fees, such as Break Fees from the bank, we have capped the amount we can charge clients at $2,500.
If you are wanting to change insurance companies, the best thing to do is immediately talk to your adviser and discuss if any clawback fees will be charged.
Latest Posts
There are many valid reasons why you might be looking to pull some equity out of your property to use elsewhere. This is commonly called a ‘top up’ on your…
No one likes being rejected. Some of us still blush when we remember being turned down by Patrick Summers at the Year 9 dance. That’s just for instance. We’re not…
This article is current as of 1 September 2021 It’s Covid-19 lockdown déjà vu for New Zealand. While most of the country is now at level 3 Auckland will remain…
There’s a lot to weigh up between a new build or an existing house. Some of it is a personal preference; the beauty of a stained glass window in a…