Car Insurance Quotes

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.

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Shopping for Auto Insurance Quotes

Auto Insurance in Canada

Auto insurance companies look at your driving profile, which includes things like the make and model of car you drive, your age, your gender, where you live, the number of tickets and accidents on your record, etc.; and use that information to assess the risk of you making a claim in the future which then determines your rates.

Car insurance is distributed to consumers through different networks of licensed insurance professionals. They are:

• Insurance Brokers - Provide independent and expert advice, advocacy and support to consumers with respect to their car insurance needs and typically work with, and sell policies for, a number of different insurance companies.

• Insurance Agents – Provide expert advice, advocacy and support to consumers with respect to their car insurance needs and work with, and sell policies for, one insurance company.

• Direct Writers - Provide expert advice, selling and servicing property and casualty insurance products, including auto insurance, in Canada through direct response marketing and distribution for one insurance company.

Why Have Auto Insurance?

• Third-Party Liability. This coverage protects you in the event of an accident causing loss or damage to another person when you are at fault.

• Accident Benefits. This coverage offers benefits to protect you if you are injured in an accident regardless of who caused the accident.

• Uninsured Automobile Coverage. This coverage protects you in the event of death or injury caused by an uninsured motorist or by a hit-and-run.

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.

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.

If you have further query please contact Canada Insurance Plan.