Automotive

How do people shop for insurance?

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  • Jun 17th, 2020 11:15 pm
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[OP]
Newbie
Sep 28, 2012
45 posts
11 upvotes

How do people shop for insurance?

Sorry for this basic question, but I haven't had to shop for insurance (home & auto) in like 20 years...

Can somebody recommend a good website that can compare rates for me?

Thanks
35 replies
Deal Expert
Aug 22, 2011
33002 posts
18764 upvotes
Ottawa
Avoid brokers...they are a useless middleman.
Try kanetix and insurancehotline.
Sr. Member
Sep 25, 2018
595 posts
1109 upvotes
vkizzle wrote: Avoid brokers...they are a useless middleman.
Try kanetix and insurancehotline.
Not necessarily true... I went through a broker for the lowest quote last year. This year the renewal is still the lowest I find. Those online services are jokes to me, quote me 1-2k higher than my current.

Use any source you find OP, broker or not, it's worth a try.
Deal Expert
Aug 22, 2011
33002 posts
18764 upvotes
Ottawa
AlicW93740 wrote: Not necessarily true... I went through a broker for the lowest quote last year. This year the renewal is still the lowest I find. Those online services are jokes to me, quote me 1-2k higher than my current.

Use any source you find OP, broker or not, it's worth a try.
Brokers simply regurgitate the information you provide them a second time to the insurance company and succeptible to mistakes.
Also, they don't have access to all of the insurance companies.
Member
Mar 17, 2010
204 posts
224 upvotes
Toronto
+1 on getting quotes from broker as well in addition to getting your own. I just switched mine and broker got me the lowest rates.
Deal Expert
User avatar
May 10, 2005
35016 posts
9034 upvotes
Ottawa
vkizzle wrote: Brokers simply regurgitate the information you provide them a second time to the insurance company and succeptible to mistakes.
Also, they don't have access to all of the insurance companies.
What else are brokers supposed to tell insurance companies? Make stuff up??? Of course they "regurgitate" what is told to them.
Brokers have access to many companies and can compare prices for you instead of your going to all the separate websites and "regurgitating" the information.
You are correct, not every broker has access to all companies so, you go to a couple brokers. You get personal service as opposed to an online application form.
Or, you can just skip them all and go to kanetix, as you say.....which is a broker too LOL
The Government cannot give to anybody anything that the Government does not first take from somebody else.
Deal Guru
User avatar
Oct 5, 2008
12738 posts
6666 upvotes
Toronto
av10000 wrote: Sorry for this basic question, but I haven't had to shop for insurance (home & auto) in like 20 years...

Can somebody recommend a good website that can compare rates for me?

Thanks
speak to Cosmic5 here, she's a broker.

@Cosmic5
Deal Fanatic
User avatar
Aug 11, 2008
8632 posts
1311 upvotes
Ontario
just an FYI: Brokers have access to a multitude of companies whereas agents only sell for the company that they work for.
AlicW93740 wrote: Not necessarily true... I went through a broker for the lowest quote last year. This year the renewal is still the lowest I find. Those online services are jokes to me, quote me 1-2k higher than my current.

Use any source you find OP, broker or not, it's worth a try.
RIBO LICENCED INSURANCE BROKER, over 35 years experience
Deal Guru
User avatar
Mar 9, 2007
13014 posts
7954 upvotes
Think of the Childre…
I'll see you next year.
COSMIC5 wrote: just an FYI: Brokers have access to a multitude of companies whereas agents only sell for the company that they work for.

WOULD SOMEBODY THINK OF THE CHILDREN!!!
Deal Fanatic
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Aug 11, 2008
8632 posts
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Ontario
look forward to it! cheers!
Cheapo-Findo wrote: I'll see you next year.
RIBO LICENCED INSURANCE BROKER, over 35 years experience
Deal Addict
Nov 7, 2012
1041 posts
453 upvotes
TORONTO
vkizzle wrote: Avoid brokers...they are a useless middleman.
Try kanetix and insurancehotline.
Reading this comment again.
I went through kanetix that brokered my car insurance. Wouldn't that mean Kanetix and Insurance Hotline are brokers?
Deal Fanatic
User avatar
Mar 1, 2005
5343 posts
2870 upvotes
Toronto
Problem with brokers is that their pay cheque is tied to your premiums, so while your premiums could be cheaper it may not be the cheapest if the broker is unscrupulous (that's why they may ask how much you're paying currently).

Best to do quotes from brokers and direct with agents.
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Deal Fanatic
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Mar 10, 2005
8735 posts
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BeaverLiquor wrote: Problem with brokers is that their pay cheque is tied to your premiums, so while your premiums could be cheaper it may not be the cheapest if the broker is unscrupulous (that's why they may ask how much you're paying currently).

Best to do quotes from brokers and direct with agents.
If that's the case then a win-win, maybe not that bad to use a broker
Discomfort is your friend
Deal Fanatic
User avatar
Mar 1, 2005
5343 posts
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Toronto
blexann wrote: If that's the case then a win-win, maybe not that bad to use a broker
Maybe, but I don't like leaving something on the table, as they say, so I check multiple sources.

Had an old broker pull that's the cheapest rate BS but I was able to find cheaper rates from both agents and brokers with the same coverage.

Never give more information than you have to.
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