When it comes to managing your short-term insurance, understanding the intricacies of policy renewals and discounts can significantly impact your premiums. Many insurance companies send out renewal letters two months in advance, often indicating maximum or sometimes unreasonable increases in your premium. This is a strategic move that provides you with the opportunity to reach out and negotiate discounts.

If you have a solid insurance profile—meaning you have a good claims history—you’ll typically qualify for more discounts than someone with multiple claims or a less favourable profile. However, insurance companies rarely contact you to inform you of available discounts. Instead, they rely on the renewal period as a chance for you to engage with them; if you don’t, they will assume you are satisfied. If you decide to call in, they may highlight retention strategies, such as informing you that cancelling your policy would mean losing specific reward or bonus benefits. They might even offer to reduce your premium by reallocating retention discounts if you choose to stay with them. I always ask, “Why now and not before the drastic increase?”

By partnering with me, you benefit from my proactive approach. I will personally reach out to insurance providers on your behalf to negotiate additional discounts, ensuring you receive the best service and most competitive premium possible. My commitment to advocating for your interests means you can trust that your insurance needs are in expert hands, leading to savings and enhanced coverage.

Another significant advantage of partnering with me is the personalised service you receive. You’ll have a single point of contact rather than dealing with a call centre. It’s as easy as calling, WhatsApping, or emailing me with your instructions, and I will handle everything on your behalf. No more waiting for a call centre agent to pick up!

Feel free to contact me to discuss how we can optimise your short-term insurance strategy!

When selecting a short-term insurance policy, reviewing the Ombudsman for Short-term Insurance (OSTI) Annual Report is one of the most critical steps. This report provides valuable insights into insurers’ performance, including:

• Complaint Statistics: Understand how many complaints have been filed against various insurers and the number of complaints per thousand claims. This helps gauge how effectively insurers manage claims.
• Jurisdiction: Get clarity on the limits of the Ombudsman’s jurisdiction, especially regarding personal versus commercial lines of insurance.
• Insights on Complaints: Analyze the data to determine insurer performance, as a high number of complaints per claim may indicate issues with claims handling.
• Resolution Rates: Look at how many complaints are resolved in favour of the insured, which reflects the insurer’s commitment to customer service.
• Overturn Rates: This is a crucial metric showing how often the Ombudsman overturns an insurer’s decision. A high overturn rate can indicate that an insurer frequently denies valid claims or treats customers unfairly. This information can help you gauge how customer-friendly and reliable an insurer is, ensuring you choose one that prioritises fair treatment.

Following this crucial evaluation, consider the additional factors below:

1. Coverage Options: Ensure the policy covers the risks most relevant to your situation, such as theft, damage, or liability.

2. Premium Costs: Compare premiums from different providers, keeping in mind what is included in the cost. Be wary of policies that seem cheaper but come with reduced coverage.

3. Excess: Assess the excess amount you’ll need to pay if you make a claim. This can significantly affect your overall costs.

4. Claim Process: Investigate how simple it is to file a claim. Look for feedback from other clients regarding their experiences with claims to gauge the insurer’s reliability.

5. Customer Service: Evaluate the level of customer service. Having a dedicated point of contact, like myself, can streamline communication and issue resolution.

6. Policy Exclusions: Read the exclusions carefully to avoid surprises. Knowing what isn’t covered helps you choose a policy that fits your needs.

7. Discount Opportunities: Inquire about available discounts, such as those for multiple policies or loyalty, which can help reduce your overall costs.

8. Renewal Terms: Understand how the policy renews and any potential premium adjustments, ensuring you’re aware of your options when it’s time to renew.

9. Financial Stability of the Insurer: Check the insurer’s financial ratings to ensure they can meet their obligations in case of a claim.

By prioritising the evaluation of the OSTI annual report alongside these considerations, you can make an informed choice about your short-term insurance policy. If you have questions or need assistance navigating your options, feel free to reach out!

As your broker for short-term insurance, I operate primarily on a commission basis. Here’s how my compensation works:

1. Commission-Based Model: I earn my fees through commissions on the policies I help you secure. This means I get paid when you purchase a policy, and it is typically calculated as a percentage of your premium.

2. Minimal Administration Fees: I hardly take administration fees, but when I do, this will always be discussed with you, and you will be informed of the reasons behind it. Transparency is key, and I want you to understand any costs associated with my services.

3. Ongoing Service: My commission is paid monthly for the duration of the policy, allowing me to provide continuous support and management of your insurance needs.

4. Value of Service: The commission covers the service I provide, which includes policy management, claim assistance, and proactive outreach for potential discounts. My goal is to ensure you receive the best coverage at the best price.

5. Transparent Communication: I believe in clear communication regarding my compensation across all services I provide, not just for short-term insurance. There are no hidden fees, and you will always know how my services are funded.

Feel free to reach out if you have further questions about my services or how I can assist you with your short-term insurance needs!

If you’re feeling unsupported by your current broker or don’t have one at all, you can transfer your Momentum Insure policy to me without any hassle.

Here’s how it works:

1. Transfer Process: I will assist you with the necessary paperwork and communication with Momentum Insure to ensure a smooth transition. This means you won’t experience any gaps in coverage.

2. Ongoing Support: Once your policy is transferred, I will take on the role of your broker. This includes providing personalised support, answering your questions, and ensuring that your policy meets your needs. If you need assistance with claims, policy changes, or any other inquiries, I will be there to help you every step of the way.

3. No Impact on Coverage: Your coverage will remain active during the transfer process, so you can have peace of mind knowing that you are still protected.

4. No Additional Fees: As mentioned in the previous FAQ, the only fee I will receive is the commission fee from the policy. There are no additional administration fees charged for me becoming your broker. If any fees are applicable in the future, I will inform you beforehand, and you can refer to the “What Should I Know About Your Broker Fees and Charges?” tab for more details.

If you have further questions or would like to initiate the transfer process, please don’t hesitate to reach out. I’m here to help!