Choosing The Right Home And Auto Insurance Brokers

Why Should I Work With Home And Auto Insurance Brokers?

There are many benefits to you when working with insurance brokers who specialize in home insurance and auto insurance. From their range of insurance products to their extensive knowledge and training, experienced insurance brokers will advocate for you to get the best insurance coverage at the most affordable rate.

As a customer looking to get bundled home and auto insurance, when you work with a licensed insurance broker, not only will you receive expert advice and personalized service, but you will also receive many great coverage options. Not to mention there are potential discounts that you may qualify for.

What Do Home And Auto Insurance Brokers Do For Me?

Insurance brokers are focused on providing insurance coverage for two of the largest financial commitments many of us make – our home and our vehicle(s).

Brokers work with dozens of leading insurance companies and will get multiple quotes for all your insurance needs. Brokers will review each coverage option and will provide a custom insurance option for your specific needs. They will also take the time to answer any insurance questions you may have. 

Brokers also provide insurance options for more than just your house and car. Common types of insurance products that an independent broker provides include business insurance, cottage insurance, boat insurance, travel trailer insurance, and much more. Generally speaking, insurance customers find it easier to work with an insurance broker who can protect all of their assets, as opposed to having to work with multiple different insurance companies for each individual item.

Our top-rated brokers will ensure you have the proper insurance coverage giving you peace of mind knowing you are protected. 

Can You Save Money By Bundling Insurance Policies?

Insurance brokers can help you save money when you bundle your insurance policies. In reality, savings from bundling can turn out to be quite sizable, in some cases several hundreds of dollars.

Bundling means having a number of your insurance policies with one insurance company. You can bundle your home, your vehicles, your business, your recreational items and more.

Here are some of the big benefits of bundling your insurance:

  • You can save. Savings on your insurance can be substantial. Generally, the largest savings are on auto policies. This is a good thing for customers because auto insurance is almost always more expensive than home, condo or rental apartment insurance.
  • You can get extra perks. Some insurance companies offer perks beyond those they would receive if the customer purchased insurance with separate policies at different companies.
  • Reduced fees are available. Some companies offer reduced service fees for those with bundled policies and who are paying monthly.
  • Less hassle at renewal time. Bundled insured items can renew on the same date and you don't need to keep tabs on several renewal dates. Think “once and done”.
  • Add more insured items. You can add additional items to your policy and have the same renewal date as your other insured items. Maybe you buy another car or you want to insure your partner's car in the bundle to potentially save more. 
  • Bundle lots of insurance products to potentially save even more. Bundling is not limited to home and auto, it can include other items such as your cottage, your recreational vehicle, your business or commercial insurance, or your business vehicle.
  • Bring other items onto the policy when they renew to save more. Some insurance companies will offer your savings immediately on the promise to bring other items to the policy when these come up for renewal.

Here is another important thing to know when you are working with home and car insurance brokers, whether you are bundling your insurance or not: Being charged a penalty for changing your policy before it expires is not necessarily a bad thing in every situation. Even though you may be charged a penalty for an early policy cancellation, you could very well save in excess of the penalty by switching to another policy.

How Much Experience Do Car And Home Insurance Brokers Have?

The experience property and casualty insurance brokers have will vary by each individual broker. However, all brokers in Ontario are licenced by the Registered Insurance Brokers of Ontario (RIBO). All RIBO-licenced brokers have taken insurance training and passed exams. Brokers must also continue their education by meeting annual training and education requirements to maintain their insurance licence.

Many brokers also earn other insurance designations such as their Chartered Insurance Professional (CIP), Fellow Chartered Insurance Professional (FCIP), and Canadian Accredited Insurance Broker (CAIB).

Where Do I Find Home And Auto Insurance Brokers?

You can find a home and car insurance broker directly on Google. When looking for the right insurance broker, consider the following:

  • Work with a broker that works with several home and car insurance companies to get a variety of quotes for you. 
  • Work with an experienced broker that has been recognized by the insurance industry for its excellence. Have they won provincial or national awards or achieved the recognition that provides you with the confidence that you're working with the right insurance partner?
  • Go with a broker that is focused on you, the customer. You should be at the centre of everything they do.
  • Go with a broker with great reviews. Investigate their online reviews on Google, Facebook and Yellow Pages. As a general rule, the more 5-star reviews they have for their customers, the better service you can expect. Read a couple of client reviews to see how they treat their clients and what their claims service looks like. 
  • If you like to follow your favourite brands on social media be sure to see if they are promoting useful content on their YouTube, Instagram, and Facebook channels.

Are Home and Auto Insurance Brokers Expensive?

Brokers provide insurance expertise, independent insurance advice, a variety of insurance product options and much more at no additional cost to customers.

Your best insurance is from a broker. They work for their customers not for an insurance company, as is the case with some insurance providers.

How Do I Get Prices From Car And Home Insurance Brokers?

Getting prices from a broker should be a very easy process. Give them a call, fill out their online form, or send them a text message or email. Regardless of how you choose to reach out, be sure you pay attention to how quickly they respond to you, especially if this is your first interaction with them.

Remember, you want to work with a broker who will be there when you need them most! If they aren't there to answer your questions quickly when you are inquiring about your insurance, can you rely on them to be there for you if you ever do go through the unfortunate experience of having a claim?

Do Insurance Brokers Offer Discounts?

There are many insurance discounts offered by home and auto insurers. The discounts do vary from insurer to insurer, however, as long as a company offers premium discounts and you qualify, you can save, and the savings can add up!

There are many auto insurance discounts and home insurance discounts that leading insurance companies have to offer. 

Some popular discounts include multi-policy discounts, good driver discount 

Here are a few other ways you may be able to save on your auto insurance:

  • You can save on your auto policy by participating in a driving program offered by some insurers that reward drivers with a good driving record and insurance record. These programs involve using an app that will track your good driving and reward you with savings. In some cases, drivers can save as much as 30% on their auto premium. With the average auto insurance rate being between $1,500 and $1,900, a 30% savings is substantial. In the case of a $1,500 premium, the savings could be as high as $450! In the case of a $1,900 auto insurance premium, the savings could be as high as $570!
  • You can save on your auto insurance by participating in a pay-as-you-go program offered by some insurance companies.

Below are a few additional ideas on how you may be able to lower your home insurance costs:

  • Be sure to tell your broker when you have done updates to your home. Sometimes home improvements could impact your insurance premium (LINK) and result in savings. Installing a monitored alarm system, installing new wiring or installing new plumbing are just three examples of updates that could impact your premium.
  • Have you installed a tankless water heater? Savings may be available to you if you no longer have a water tank.
  • Have you installed a sewer backup valve or a preventative measure to limit potential water damage?
  • Water and fire are the biggest damage-causing threats to your home. If you have done work or made changes that help to reduce these threats, insurance companies may offer additional savings to you. Every penny saved counts!

What Are Some Tips For Choosing The Best Home And Auto Insurance Brokers?

The best home and car insurance brokers care about providing great insurance products and excellent value and are dedicated to looking after each customer personally with exceptional insurance service.

This is our focus at Morison Insurance. Our brokers are home and auto owners too. They have concerns just like yours. Will my home insurance provide protection in case of fire? Will my auto insurance protect me if I am injured or someone else is injured in an accident? We know that every person and their circumstances are unique. We are trained insurance professionals ready to help with your insurance needs.

Who Do Home And Auto Insurance Brokers Represent?

Home and car insurance brokers represent general insurance companies that provide home insurance and auto insurance. Brokers reach out to these insurance companies to get insurance coverage for customers.

There are many general insurance companies, also known as property and casualty insurance companies, across Canada. General insurance companies provide all types of insurance except life and health insurance.

Categories of general insurance include auto insurance, property insurance (personal and business properties), business insurance and liability insurance.

Insurance is all about protection: managing risk and providing compensation in the event of a loss. Some insurance coverage is required by law – auto insurance is an example of this.

You can purchase insurance directly from an insurance company, from an agent working for a company or from a broker who does not work for any insurance company, is independent, provides you with several insurance policy options and quotes (and therefore several choices of what insurance you want to buy) and is trained to provide you with professional insurance advice.

It is important to know that insurance protection varies substantially among companies. You should know what protection you are buying when you purchase your insurance.

Insurance Brokers With The Best Reviews.

At Morison Insurance we are proud of the many positive reviews our broker team has received, and we thank every customer who has provided a review.

Reviews can be found on Google, Facebook and Yellow Pages. You can also read our customers' testimonials on our website.

How Do Home And Auto Insurance Brokers Get Quotes?

When you contact home and car insurance brokers for a quote, they will ask you some questions about the home or car you are looking to insure. After receiving that information from you, the broker should immediately reach out to insurance companies to get several quotes for you/ They will provide you with the quotes and discuss the coverage options being offered. You can compare the quotes, discuss the options with your broker and you can decide which insurance policy suits you best.

For an auto insurance quote, among the details required to get a quote are your driver's licence, the make, year and model of your vehicle, how long you have been licensed, and your driving record details - such as tickets or accidents if any.

For a home insurance quote, among the details needed for a quote are your home address, how old approximately your house is, and information on any updates made to your home.

Which Home And Auto Insurance Brokers Have The Best Coverage?

Insurance coverage options are provided by the insurance companies, not brokers, and coverages vary among companies.

It is important to know what coverage options are included in the quotes you receive. It is also important to know the policy limitations or exclusions. Additional and enhanced coverages are available should you require them and auto and home insurance brokers can help you with this.

Which Home And Car Insurance Brokers Have The Best Rates?

A benefit of working with home and auto insurance brokers is you get to compare insurance prices from several insurance companies. This means you have choices and options. You can choose which company provides the best insurance value for you – best protection and price.

Keep in mind that the cheapest insurance may not necessarily be the best insurance for you. Be sure you are getting the insurance protection you need at a good price – this is good value. There is no point in buying insurance that does not provide adequate protection to meet your specific needs. This is another area where brokers will be helpful. Insurance can sometimes be complicated and difficult to understand, but the best brokers are trained and experienced in helping to explain terms, details, coverage options and more to you.

The best brokers get competitive rates because they are seasoned insurance shoppers. As an example of this, let's say you need a new pair of shoes and you go to a mall. Do you go to one store or do you check out shoes at a few stores before you buy? We are betting the majority of people will check out at least a few stores. That's what the best insurance brokers do as well! They represent many insurance companies and will shop around at various insurance “stores” for you so you know what is available.

Basically, when you contact a home and car insurance broker it's like shopping at a “mall” of insurance companies except they go to the “insurance mall” for you. All you need to do is contact them and ask for quotes on your insurance. It's super convenient, fast and easy.

Morison Insurance Brokers Serve All Of Ontario.

We are home and auto insurance brokers and happily serve all of Ontario! We are also among the most digitally-able brokers in Ontario and we can provide you with excellent service no matter where you are located in Ontario. 

We are at your service online, by email, by text or in person at our offices and look forward to discussing your insurance needs and providing you with the best insurance products, competitive rates and best-in-class service. Fill out the form on this page or call our experts at 1-800-463-8074 to get your quote started.

 

 

This content is written by our Morison Insurance team. It is provided for general information only. Insurance needs differ from person to person, and this article is therefore not a substitute for professional advice about your individual insurance needs which can be obtained by speaking to one of our brokers.

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