On Sat, 11 Jun 2005 02:42:31 GMT, George Patterson
wrote:

Doug wrote:

What will happen is they will want an
N-number (wont quote without one), and NO other underwriters will quote
on that N-number for some period of time (I don't know how long). That
is what is a problem. The insurance companies claim they need this.

The reason is very simple. They don't want to waste their time providing
multiple quotes on the same plane. It costs them money. So, when the second
broker calls asking for a price, the underwriter won't give it to him.

Horse****!

Its just a way of protecting the brokers who bring them business. If
there wasn't a lock, you could call five different brokers and shop
around to get the best price. Since the Insurance company charges
pretty much the same -- the best price is the broker who marks it up
the least.

I've seen it in other industries. It used to be the gold standard
20-30 years ago in cars. You NEVER found out what the dealer's
invoice price was -- you bought it sticker or didn't buy. And in the
back office, the salesman was collecting a $3,000 - $6,000 commission.
But not anymore. Today you can find the invoice price on the net.

LIfe insurance also used to be that way. I know, I did it for a while
(very SHORT while). Mark up was incredible. And the 'broker' didn't
always shop around for the best price for the customer -- a lesser
price meant a smaller precentage commission.

The only way to stop this "system" the insurance companies use is to
start fighting it. If a lot of fellow owners start refusing to give a
N# when they call for a quote and simply hangup when they insist they
need it -- they'll start getting the idea. It will be a pain for us
all and will mean multiple phone calls with arguments on each call.

But I don't think the car sales industry changed overnight and without
a fight...



Chuck