Remuneration and Charges
Mike Murphy Insurance is remunerated by a professional charge for the initial work and time spent in seeking the most suitable terms, product and product producer for your specific needs. An administration charge is also charged for the activity involved in the renewal of the policy and also any alterations that take place during and at termination of a policy. A scale of our charges is under noted. We are usually remunerated by commission received from the product producers for the work involved in placing an order and finalising the product with them on your behalf. (Some product producers do not pay a commission). Commission can range from 0% to 30% dependant on the class of business. Commission is deemed fully earned when a product is placed with a product producer. All premiums include 5% Government levy.
Scale of Charges
A set up fee from 40 Euro may apply.
Renewal Policy Alterations /Cancellation
Private Motor Up to a max of €150
Household Up to a max of €150
Travel Up to a max of €150
Commercial Up to a max of 25% of the premium.
In the event of a returned cheque or a direct debit default an administration fee of €10 applies to cover the cost incurred.