Where Can I Buy Insurance In Canada?

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Where Can I Buy Insurance In Canada?

A common questions is where can I buy insurance insurance in Canada and the answer is that there have, and likely always will be, lots of places to buy insurance in Canada.   However, where, how and from whom you buy insurance in Canada from is important as there are and, always have been significant and important differences between the people who “sell” you insurance in Canada and those that help you buy insurance in Canada.  This post is intended to explain some of those important difference and answer the question “What is the best place to buy insurance in Canada?” rather then just…”where can I buy insurance in Canada!”

What Are The Options Around Where Can I Buy Insurance In Canada?

Canadian insurance agents: Canadian insurance agents are not Canadian insurance brokers.  The primary difference is that Canadian insurance agents work for the one insurance company they represent in contrast to Canadian insurance brokers who work for you! Canadian insurance agents also only distribute the insurance products of  one company….the company they work for… so they don’t create or present choices between products and don’t have the ability to create a spirit of competition between insurance companies so you have various insurers who are vying to win your business.

Online insurance: There are an increasing number of “websites” that will allow you to buy insurance in Canada, which is technically a place where you can buy insurance in Canada.  This can seem appealing, because they promise to be “quick, easy & online” and require minimal or sometimes no interaction with an actual human being, which  can also seem appealing!  However, when your home or business is literally burning to the ground in front of you or your business just received a statement of claim alleging negligence on your part and you are being sued for millions of dollars you need a human being, not a website.  As such it’s important to understand who the real human beings behind the website are because pretty much anyone can create a website, but not everyone is a professional, well educated experienced insurance broker that can and wants to help you through all aspects of your insurance journey.

Canadian insurance broker: Canadian insurance brokers (for full disclosure and clarity ALIGNED Insurance is a licensed Canadian insurance brokerage) who are provincially licensed and must work for a provincially licensed Canadian insurance brokerage. Canadian insurance brokerages and Canadian insurance brokers are heavily regulated by organization like Registered Insurance Brokers of Ontario (RIBO), Alberta Insurance Council (AIC) and Insurance Council of British Columbia etc. and required to operate in accordance with provincial legislation.  In addition, Canadian insurance brokers are legislatively required duty is to protect the interests of their customers and subject to disciplinary actions, fines & penalties if that mandate is breached. Canadian insurance brokers, like ALIGNED Insurance,  typically have significant experience and expertise in one or a number of different areas and bring both product, market and industry knowledge to consumers.  Canadian insurance brokers are also trained to identify the insurance needs of consumers first then, present a number of options and alternatives and ultimately ensure clients get the best possible product at the most appropriate price from the incredibly varied and complex Canadian insurance marketplace. The benefits of working with a Canadian insurance broker seem obvious, but it’s also important to note that not all Canadian insurance brokers are the same and it’s also important to compare the differences between insurance brokerage and choose the best Canadian insurance broker for you.  Click here if you are interested in learning more about what makes ALIGNED Insurance different/better than the typical insurance brokerage.

To learn more about where to to buy insurance in Canada or how to protect your assets speak to an ALIGNED Insurance advocate or connect with us at www.alignedinsurance.com or call us toll free at 1-866-287-0448

We’re ALIGNED Across Canada   100% Canadian owned, ALIGNED is a premiere insurance brokerage that serves small, medium and large organizations. ALIGNED’s offices in Toronto, Calgary and Vancouver are supported by a national operations centre in Cambridge, Ontario. As one of Canada’s fastest growing insurance brokerages, we invite you to learn more about us and connect @ALIGNEDonRisk, on Facebook or LinkedIn.

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