Welcome to your insurance broker guide and gateway for Toronto, Ontario. This page will give you a good idea of insurance costs in Ontario and helps to link with insurance broker of your choice in and around Toronto. There are several positive aspects of getting insurance from independent insurance brokers in Toronto, click here to scroll down the page.
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Step 1: Know why to use insurance brokers in Toronto
There are several positive aspects of getting insurance from independent insurance brokers in Toronto:
- Broker works with multiple insurers as opposed to agents dealing only with one
- Insurance broker is certified and is knowledgeable across the products offered
- Good insurance broker helps you not only with insurance choice but also with claims
Step 2: Know average insurance costs in Ontario
Your insurance policy costs depends of multiple factors and thus can vary. Nevertheless we show below average numbers for some insurance cases which should give you a feeling of insurance costs in Ontario (across Canada for Life insurance).
Additional Advice: How to check if a broker is licensed / legitimate?
An official page of FSCO (Financial Services Commission of Ontario) provides access to the database of all Ontario brokers. By adding broker’s name (agency name), or broker ID (agency) or, simply, location you can check if any insurance brokers Toronto or across Ontario is officially licensed and has his/her license in a good standing. There are two things to look for:
- Make sure that a broker has a license to sell life insurance (including Accident and Sickness)
- Make sure that the license is valid and not outdated
Should any Toronto insurance brokers, with whom you are dealing, do not have a valid life insurance license but still sell life insurance products, please contact Licensing and Inquiries department of FSCO.
Another organization regulates insurance brokers who sell Property and Casualty Insurance (e.g. Home and Auto insurance). Each Ontario insurance broker including insurance brokers Toronto must be licensed by RIBO (Registered Insurance Brokers of Ontario), who also offers a small tool to find out if insurance brokers in Toronto and across the province are licensed by RIBO. You can conduct a search either by broker’s first or last name or also search for a brokerage name or registration number.
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