Where can you get Car Insurance Quotes in Canada? And what are the pros and cons of each source of auto insurance?
You probably already know that there are many insurance companies in Canada that want your business. Their advertisements are everywhere. But how do you know where to buy from? Understanding the way each different type of insurer operates can help you to gain some insight in where to go for quotes.
When searching for car insurance quotes in Canada, many people open the phone book and call every insurer in the yellow pages. Other people go online, search for "car insurance quotes" and submit information to several websites hoping for a great rate. While both of these methods can yield results, they are also not the most efficient way to go about it.
Read on if you want to save time and money when searching for insurance. Saving time allows you to do more productive things and saving money is great too.
There are four main ways to find insurance quotes:
1. Through a broker - The pros are that the insurance broker can deal with many companies and are independent. Therefore they are unbiased professionals working on your behalf. You will get personal service. The cons are that they do not deal with every insurer, so if you want to be sure that you are getting the best rate you still have to shop around a bit.
2. Through an agent - The pros are that an agent will know their product extremely well. And you will get personal service. The cons are that they are limited to only one, or maybe two choices for you. So they are biased and unable to shop around.
3. Direct Insurers - The pros are the convenience of shopping on your computer and they generally are a commission free structure which lowers costs a bit. The cons are that you are buying from a faceless corporation and will probably never speak with the same person twice (unlike a broker or agent where you can walk into the local office and see the person who sold you the policy)
4. Online Marketplaces - This is a newer phenomenon that came about as the internet gained popularity. The pros are that they are convenient because you can shop from home. And they represent many companies. Some will refer you on to a broker for personal service and others are brokerages themselves that will serve you over the phone and internet. The cons are that you will still probably never speak with the same person twice.
Check out an online insurance marketplace for yourself and get multiple quotes all at once
If you open the yellow pages and call every listing you are likely to get only agents and brokers. And you'll likely get the same quotes several times. Or none at all, brokers and agents can somehow detect someone that is calling everyone and make it a lower priority to get back to that person. In other words, you are wasting your time calling more than two or three agents and more than two brokers. And you are wasting their time as well.
Car Insurance Quotes in Canada
This is the most efficient way to shop for auto insurance:
Call a couple of local agents to get quotes from their companies and call a local broker for quotes (they will do 5-10 for you) as well. Then call a couple of the direct companies for quotes since they do not deal through agents or brokers. Finally try an online marketplace (or start and end here if you are happy with how it goes)
If I had to choose just two of these, I would use a broker and use an online quote service.
Note: Always speak with a licensed insurance professional about your specific situation. This insurance information is general in nature and the policy wordings always take precedence. It is possible that there are errors and omissions in this website and www.canada-insurance-source.com, or its authors, take no responsibility.
Keep in mind that insurance licensing, legislation, and policies often vary by province and most certainly by country. Canada Insurance Source is a free information source. So use this site to gain a general understanding of insurance with your own area and situation in mind. Make sure you review the "please read" page. Always speak with a licensed insurance professional about your specific situation.
Always speak with a licensed insurance representative about your specific situation.
This site is general in nature and there may be errors or ommissions