Frequently Asked Questions

Why use a Broker?

  • A Broker can give you options in regards to your insurance and advise on policy wording and the interpretation of the various companies.  The Broker is not bound to any individual company.


What is the Steadfast Group and how does it affect me as a client?

  • Steadfast is a number of brokers in Australia and New Zealand that have combined together as one identify in order to gain strength with the terms and conditions of insurance . Generally speaking policy wording is wider and terms are cheaper with all insurers.


Replacement House Insurance;

  • Insurance companies have shifted house insurance to a replacement value policy that insures your dwelling and improvements on the property. you can obtain assistance in establishing the correct sum insured by using a cordell claculator 


    The other alternative is to obtain an insurance replacement valuation from a registered valuer or alternativly  contact a  quanitity suveyour .


How is the Broker paid?

  • The Broker receives a commission from the insurance company that they place business with.  Commissions are part of the premium, not additional.  All companies have similar terms so generally there is no favouritism.


Is a Broker more expensive than dealing direct?

  • Generally speaking, NO, however some direct domestic insurers have cheaper premiums but also have cheaper policy wording.


What can a Broker do for Me?

  • A Broker can give you guidance when purchasing a product and then provide all important after sales service and assistance with claims.  You are talking to a person who understands your covers, rather than an unknown on the end of an 0800 number, who often changes and there is no continuity with you the client.  Broker staff are generally fairly static.


Do you as a Broker work for the Insurer or the Client?

  • A Broker works on behalf of you, the client, as you representative.  It is easier for us to work with the companies as we have individuals within those companies to contact on various matters.


If I accept a quote, can you arrange immediate cover?

  • Yes, usually within 30 minutes, unless it is a specialised risk.


I have trouble with insurers monthly payments where they access my account and deductions sometimes vary a lot - do you do the same?

  • We try to avoid monthly with the insurers and arrange funding of premium outside the insurers in order to give you more control.  Where possible, we use automatic payments so that nobody accesses your personal accounts.


Is it cheaper to pay annually?

  • Yes.  There is a finance charge either by the funders or the insurer if payments are spread.  We have a number of alternatives available to assist.


How can we pay your accounts?

  • By Cheque, Cash or Internet Banking.  We are not able to offer credit card payments as the credit companies are applying excessive charges. 


When I use 0800 numbers to contact insurers I am forever explaining to different people my requirements - Are you like this?

  • No, although we have different staff, your file is common to all staff and therefore your history is known immediately.  You are not just a number to us, but an important part of our business.  One phone/contact number for all requirements.


What happens if we need to claim?

  • Either phone us or email.  We will be able to tell you what is required in order to arrange speedy settlement of your claim.  We can also advise you of your rights under the particular policy that you are claiming against.


What happens if my renewal premium is excessive?

  • Providing it is not because of claims history, often a Broker can locate alternative covers.  Sometimes companies do decide that they wish to exit a particular market and they raise premiums for that sector.  Rather than cancel covers, your broker can protect you in this area.


I have had problems when my car was damaged and had to use public or friends transport?

  • Because we do not want to see our clients disadvantaged, we have courtesy vehicles available at no charge to our clients (except for fuel).


Can you insure risks outside of New Zealand?

  • Only in certain circumstances.  Generally speaking risks must be insured in individual countries to ensure that the insurance comes under their rules and regulations.


Licensed  Building Practioners ( LBP)?

  • Insurance Protection is available  for LBP,s  to cover all legal costs and expenses , necessarily and legally incurred by them and all costs and expenses of and incidental to the enquiry ordered against then and any fine they are ordered to pay . Send us an email  for further details .


I have other questions that are not listed above?

Please feel free to email us at 

Contact Us:
Compass Insurance Brokers
56A Forge Road,Silverdale
PO Box 56, Silverdale, 0944 Auckland
AKLD 09 418 3269 HBC 09 4268117
09 426 0483