Insurance Brokers in Ontario

Home Insurance

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Auto Insurance

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Life Insurance

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Business Insurance

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Want to find an insurance broker in Ontario?

Finding the right insurance broker in Ontario might be more important than in any other Canadian province due to high insurance costs.

Ontario has the highest car insurance costs in Canada. Thus, having access to brokers who can get a cheap car insurance quote across more than 20+ insurers is very important.

Also, costs for home insurance tend to grow faster than in some other provinces due to a history of floods. Our insurance partner has one of the most affordable home insurance quotes in the province.

Life insurance costs do not really depend on province but there are good reasons to use brokers when searching for this insurance type as well. We will explain them below (e.g. dealing with particular health pre-conditions). Our brokers can compare for you life insurance quotes from more than 20 life insurers (including disability, critical illness, and health insurance).

If you are searching for an insurance broker in a particular location, click on the map or choose a location from the list below.

ON Car Insurance – key
things to know

Average car insurance rate in ON:

Good driving
record:

~ $150 / month

Bad driving
record:

~ $270 / month

Summary

As in every province, car insurance in Ontario is mandatory.

Car insurance in Ontario is more expensive than in any other Canadian province – on average Ontarians pay monthly 150 dollars. In some locations, such as Brampton, average rates go up as high as 200 dollars per year.

These insurance premiums require you to compare within the market to find the best offer – savings can translate into hundreds of dollars annually. InsurEye brokers can provide you with free car insurance quotes across 25+ insurers.

Ontario uses a hybrid approach skewed towards the “no-fault” insurance system. That basically means that, in the case of an accident, each involved party’s insurance company will cover the cost of an accident (no-fault approach), but at the same time, you have the right to sue other party if you consider this party to be liable for additional damages to your health, property, emotional wellbeing, etc.

Other things to know

  1. Although winter tires are not mandatory in Ontario, they are highly recommended due harsh winter conditions.
  2. Car insurance in Ontario is regulated by the Financial Services Commission of Ontario (FSCO), who offers services such as:

ON Home Insurance – key
things to know

Average home insurance rate in ON:

Owned
home:

~ $65 / month

Rented
home:

~ $20 / month

Summary

Home insurance is not mandatory in Ontario (unless it is a rental property and your landlord requires insurance from you), but it is highly recommended.

It is not expensive. On average Ontarians pay $65 monthly in homeowners insurance costs and $20 monthly in tenant insurance costs.

Nevertheless, insurance dollars add up, and using an insurance broker, or a company that is known for low rates but great insurance, really pays off. We will help you to get a free home insurance quote so you can save hundreds of dollars per year.

Other things to know

  1. Overland flooding: Most insurers do not cover this type of flooding on default  (where water enters your home from outside due to issues such as melting snow or raised river levels). You might be able to buy a separate rider – check with your insurer.
  2. Sewer backup: This type of flooding is normally not covered in your insurance policy – you need to get a separate insurance rider (it is not expensive). Also, consider installing a sewer back up valve.
  3. Earthquakes in Ontario: Ontario has not faced intensive earthquakes so far, unlike BC or QC. Only if earthquakes in Ontario worry you, discuss a rider with your broker.

ON Life Insurance – key
things to know

Average life insurance rate*:

Term
life:

~ $55 / month

Whole
life:

~ $80 / month

Summary

Life insurance premiums do not differ greatly across provinces. Life insurance costs are mainly driven by your health, existing medical pre-conditions, your habits etc.

It’s a good idea to buy life insurance from a broker since he/she knows all the ins and outs of various policies and can advise you of which one will work the best for your situation.
If you have a question, want to connect in person or simply want to get a free life insurance quote, our partner brokers are happy to help you.

Other things to know

Depending on your health situation and pre-existing conditions, you can typically choose between four different insurance types that offer different coverage, rates and exclusions:

  1. Traditional Life Insurance: comes with the lowest insurance rate and requires both a medical exam and completion of a medical questionnaire.
  2. Rated Traditional Life Insurance: is the same product as traditional life insurance, but it has higher rates due to the high risk associated with it (such as a health condition).
  3. Simplified Issue No Medical Life Insurance: comes with higher insurance rates but does not require a medical exam. It has a medical questionnaire to complete. This policy type has a few limitations.
  4. Guaranteed Issue No Medical Life Insurance: Comes with the highest insurance rates but does not require a medical exam or questionnaire. This insurance type is a subject to a number of exclusions and limits.

We can provide you with both a traditional life insurance quote and a no medical life insurance quote across numerous insurance providers (through our partner brokers).

Why Use an Insurance Broker in Ontario?

There are several reasons to use insurance brokers, especially in Ontario.

High Ontario car insurance rates: It makes sense to compare the market since Ontario auto insurance rates are the highest in the country. Making the right insurance choice can save hundreds, if not thousand(s), of dollars per year.

Tailoring your home insurance policy: Many elements of a home insurance policy should be tailored to your needs, especially if you have a house. Such elements are sewer backup coverage, overland flooding, jewelry rider, small business coverage and more.

Dealing with pre-conditions: Life insurance brokers can help you find a policy from an insurance company that specializes on particular health issues. That leads to better rates and more extensive coverage.
Get personal advice: Insurance brokers are able to provide tailored insurance advice for your particular situation, such as having a bad driving record, health pre-conditions, high-value property, etc.

Choose you own broker in Ontario

All brokers listed below are independent brokers and NOT an employee of InsurEye Inc or representing InsurEye Inc.