Canada Insurance Agents & Brokers
At the most basic level, insurance is the transfer of a risk of a loss to another party in exchange for an “up-front” fee, called a premium.
There are two different outlets from which you can purchase insurance in Canada: brokers, who work with a number of different companies, or agents, who work with just one company called a direct writer.
Insurance is available to individuals, businesses and other institutions for almost anything; however, brokers and agencies mostly offer automobile, property, and life insurance to individual car and homeowners.
During the current years, the demand for health and accidental insurance policies has also increased. The premium amount after maturity has increased since 1998. During the past ten years, the number of people using this service has doubled.
Because they work for just one company, insurance agents mainly try to motivate and convince people in order to sell them a policy. Brokers, on the other hand, don’t work directly for insurance companies; instead, they work for you to find you the best coverage and rates from several different companies. That’s why an online comparison site like Shop Insurance Canada offers an advantage over agents and direct writers: they shop the market for you and find you the cheapest car insurance rates in just a few minutes.
We provide our services in a different way. Our motto is to show you a wide range of brokerages and agencies so you can choose whom you want to work with.
If you’re looking to purchase an insurance policy in Canada for anything from your home to your ATV, there are a few things to keep in mind.
Finding the right insurance agent or broker is the first and most important step. You need to have all the knowledge about the field to find out which agency or brokerage is ideal for you. Luckily, there is a basic and simple solution to this problem: rather than referring to the agencies, first you should do your research online. Websites like ShopInsuranceCanada.ca are an authoritative source for all your insurance news, information, and rates. They provide an unbiased opinion on several different insurance companies, and you can use their online car insurance quotes tool to see your rates from 15 different insurance companies instantly!
Second, you need to check the legitimacy of the policy and the insurance agent or broker: each province has insurance licensing agencies, and it’s illegal to sell insurance without the proper license. Criminals attempting to sell illegal insurance policies are a real and present problem in Canada. Generally, if the price seems too good to be true, it should send up some red flags. If you ever sense anything suspicious about your interaction with your agent or broker, ask for their license number and check with your provincial regulatory body.
Last but not the least is that you should be clear about the type of insurance you need: be sure of what type of coverage you need and be sure about the legitimacy of your brokerage. For more details, you can contact us—our representatives are here and ready to serve you!