Brokerage is a fee charged by a broker for the execution of a transaction; or alternatively an amount per transaction or a percentage of the total value of the transaction. Sometimes also referred to as a commission or fee.

You have a choice between direct insurance, often done online or using a broker. These choices have become available for home, auto and some business insurance. Turners Tips recommends that you take control of your insurance so consider why you make the decision between one type of service and another.

When you use a broker you pay a commission to that broker that is included in the total premium charged. This pays for the services of the broker who works as your insurance partner.

If you do not have a feeling of partnership then perhaps you are not communicating well with your agent or broker. Let them know that you want more with a feeling of value gained from the transaction. You can expect good service, truthfulness and a sense of loyalty with your adviser. If you cannot achieve this then perhaps you should consider looking for another agent or broker.