• Time and money: can you afford buying insurance without using an insurance broker?

    October 5th, 2020Christopher Johnson

    The Insurance Brokers Association of Canada recently launched a new television ad campaign showing a reality that we observe daily: people contacting us for a home and auto insurance quote, wanting the best price in less than five minutes. In short, they want to save time and money. If that’s what you want as well, in this article, Assurances Multi-Risques explains the advantages that can be gained by contacting an insurance broker.

     

    • Agent or broker: who should you do business with for insurance?

     

    Have you ever calculated how much time you need to shop for home, car and business insurance if you do it yourself? Contacting several insurance companies to find the best coverage at the best price can prove to be long and complicated, especially when you know that a broker could do it on your behalf.

     

    1.1 Less time

    To find THE right insurer, you have to make more than one phone call. That means you’re not doing business with a broker, but rather with agents. In fact, a general insurance agent can offer you the services of only one insurer and is an employee of the insurance company that indemnifies you following a claim.

    But an insurance broker can offer you products from many insurers and shop from them on your behalf. By doing business with a broker, you’ll have only one phone call to make! The broker will take care of the rest as needed. When you contact a broker, we also highly recommend that you ask them how many insurance company quotes they can provide for home, car and business insurance. Here’s an article that explains the advantages of doing business with an independent insurance broker.

     

    1.2 Greater savings

    Contrary to what some people might think, by contacting an independent insurance broker, you’ll often come out on top financially because the broker has a better sampling than an insurance agent. As a rule, buying an insurance product directly from a company means higher premiums because the agent will offer you their rates based on what’s best for the insurance company, not for you, especially because they can’t offer you any choices.

     

    • Buying insurance through a broker: even more advantages!

     

    Beyond not having to shop around for insurance, doing business with an insurance broker comes with many other advantages. First, contacting an insurance broker means dealing with a business owner who has a head office in Quebec and who can offer local, personalized service. In fact, you’ll benefit from support, consulting services and insurance products that correspond to your interests rather than those of the insurer. Also, your broker will be able to support you if you need to make a claim in order to reassure you and, more importantly, defend your interests when dealing with your insurance company.

    Remember that an insurance broker has nothing to sell you! In fact, they shop for insurance for you from the different companies they represent.

     

    In conclusion, we know that nowadays people live life in the fast lane and always have too much to do. So it’s normal that you would be tempted to take less time to shop for insurance and more to enjoy leisure activities. That’s why we’re sure that buying insurance through a broker is the right solution! But be careful—it can quickly become addictive.