Broker Fee Agreement

In insurance terms, it means the contract agreement between the insured/policyholder and the licensed broker during the period of active insurance coverage.

Sometimes, this agreement may include the actual charges of the services of the broker for the insurance coverage of the policyholder.

All decisions and actions are mostly based on this agreement of the insurance policy. This helps in avoiding unnecessary disagreement and failures during the insurance coverage.

Posted in: Glossary of Auto Insurance (B)