Best Ontario Auto Insurance Broker

Securing the best Ontario auto insurance for you, your family or your organization is important as it is expensive and you want to make sure you have the best product and best price for your specific needs which is why working with the best Ontario auto insurance broker is important. Ontario auto insurance also makes up about 10% or just over $10,000,000,000 of the $45,000,000,000 Canadian property and casualty insurance marketplace and there are a lot of options, coverages and insurance companies to choose from which ALIGNED Insurance brokers can help.

How Do You Choose The Best Ontario Auto Insurance Broker

If you are looking for the best Ontario auto insurance broker there are a lot of things to consider and like buying a car every make and model has its own unique attributes. Below are three easy things that should be considered as a starting point to help you decide who the best Ontario auto insurance broker is for you.

Licensing: Sadly not everyone selling insurance is licensed and legitimate and people do pose as insurance brokers so it’s important to verify that the person and legal entity selling your insurance are licensed and legitimate.  To find out if someone claiming to be working for a licensed insurance brokerage is a licensed insurance broker and is legitimately licensed to sell insurance Ontario auto insurance visit the Registered Insurance Brokers of Ontario website. If you are considering Ontario auto insurance from an insurance agent or want to look into an insurance company visit the Financial Services Commission of Ontario website to verify their licensing too.

Education:  Licensing is just the beginning and it’s important to evaluate insurance brokers based on their knowledge, experience, expertise and education.  Review their LinkedIn profiles or ask questions about what professional designations like to one’s noted below that they have and/or are working on:

• Canadian Accredited Insurance Broker (CAIB)
• Chartered Insurance Professional (CIP)
• Fellow Chartered Insurance Professional (FCIP)
• Canadian Risk Management (CRM)
• RIMS Fellow (RF)
• Registered Professional Liability Underwriter (RPLU)

Tenure: Ontario insurance brokers and insurance brokers in Canada have a tendency to move around from one brokerage to another for a number of reasons.  One of which is that insurance brokerages typically pay higher first-year versus renewal commissions.  As result insurance brokers often try to move from one brokerage to the next and bring their clients with them so they can consistently earn higher “new business” commissions.  Many clients find this frustrating as there can be significant switching costs and drops in service as the broker gets familiarized and set up in the new organization.  Top Ontario auto insurance brokers tend to stay with the insurance brokerage they are with for longer periods of time as they are typically appropriately rewarded and compensated appropriately to do so because the best insurance brokerages like ALIGNED Insurance have a number of financial rewards like ownership etc. that they use to help retain top talent.

What is Vehicle Insurance? 

Vehicle insurance is designed to give everyone on the road financial protection in the event of an accident or other incident. Vehicle insurance covers any time of vehicle, from cars and trucks to vans and motorcycles, and more. Additionally, it protects those who might injure or harm the property of others. Property, in this case, would include your vehicle and anything within it that could be damaged. Basically, having vehicle insurance means you will be covered from having to pay the cost of any damage or accident out of your own pocket. Insurance is coverage against incidents that may occur while driving, however unexpected they may be. 

How Do You Purchase Auto Insurance in Ontario? 

The best way to purchase auto insurance in Ontario is to consult a licensed insurance broker. You will need to provide the necessary information, including the make and model of your vehicle, as well as your personal or commercial driving record. When considering which insurance broker to deal with, you should first ensure the agent is licensed to provide insurance in Ontario. You can verify this on the Registered Insurance Brokers of Ontario website. You should also question your broker’s professional accreditations and length of working history with her or his current brokerage firm. The most credible insurance brokers have usually been with the same firm for a number of years or at least have not moved around too much. Unfortunately, there are unscrupulous players in the insurance industry, and it behooves you to verify who you are dealing with. 

What Is an Insurance Broker? 

An insurance broker is a licensed agent that investigates a client’s insurance needs, researching the most appropriate and suitable coverage for their client, and acts on their behalf in the event they experience a claim. A good broker is one that is accredited in the industry and properly licensed. It is vital that drivers do some research when choosing a broker, as there can be big differences between them in terms of education, certification and knowledge of the industry. An insurance broker is someone who guides you through the process of choosing the right auto insurance coverage for your situation, and who is by your side throughout the process. 

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