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Updated
Looking to learn more about auto insurance brokers in Edmonton, and Alberta as a whole? Here’s everything you need to know:
An auto insurance broker is a person who helps customers find the best insurance for their needs by shopping on their behalf and bringing them the best deals they can find. To achieve this, they work with multiple insurance companies and have great connections in the industry.
The biggest reason to consider auto insurance brokers when looking for insurance is that they do all the research for you and can bring options at various price points, as opposed to just giving you one quote. Car insurance brokers often also represent home and life insurance providers, so if you want to bundle several policies under one insurer, they can help with that as well.
In order to become an auto insurance broker in Edmonton, you must pass certain licensing requirements set by the Alberta Insurance Council (AIC). To be a broker, you must:
Both car insurance brokers and brokerages act as middlemen between you and various insurance companies by connecting you to their product. However, while brokers are individuals, brokerages are firms that employ those individuals. The terms are often used interchangeably, which can make things confusing for those who have no knowledge of the industry, but there is a clear difference between them.
An auto insurance brokerage is a firm that connects buyers and sellers in an effort to complete a sale or transaction. They often employ brokers who are compensated with commissions once the transaction is complete. The good news is that they can sell insurance from many of the top providers in Canada and negotiate coverages for you.
To start an auto insurance brokerage in Edmonton, you must:
Auto insurance brokers in Edmonton can help you find the best car insurance rates by offering you a choice. Because of the nature of how brokers operate, they are not tied to any one insurance company.
Brokers can do all the legwork for you and bring you back options that fit your driving and budgetary needs.
| Broker | Agent | Comparison website |
|---|---|---|
|
Typically sells insurance from a variety of insurance companies. |
Typically sells insurance from one company. |
Provides online quote comparisons from the top auto insurance companies in Canada. |
|
Works on behalf of the client. |
Works on behalf of the insurance company they represent. |
Works for you by connecting you with a broker who can compare prices and bring you insurance options that meet all of your needs. |
|
Is paid a commission by the insurer, usually after the transaction closes. |
Is paid a salary and can make bonuses or commissions based on sales results. |
This is a free service for the customer. Comparison sites are paid by insurance partners after you connect with them through the site. |
|
Are able to compare companies and rates to provide you with savings for your auto insurance needs. |
Can only work with one company and are not able to research or comparison shop with other companies. |
Comparison sites like RATESDOTCA can save you money by providing instant quotes from dozens of insurance providers in their partner network. |
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| Company name | Company type | Phone number | Address |
|---|---|---|---|
|
Blanket Group of Companies Ltd. |
Insurance broker |
780-801-0670 |
526-10104 103 Ave NW, Edmonton, AB T5J 0H8 |
|
Capital Insurance Brokers |
Insurance broker |
587-847-2748 |
207-4363 167 Ave NW, Edmonton, AB T5Y 3Y2 |
|
Cornerstone Insurance Brokers Ltd. |
Insurance broker |
780-489-8080 |
201-10520 178 St NW, Edmonton, AB T5S 2J1 |
|
Quotes comparison |
1-855-821-7312 |
225 King St W, Suite 1000, Toronto, ON, M5V 3M2 | |
|
Leibel Insurance Group |
Insurance broker |
780-484-8880 |
102-17415 102 Ave NW, Edmonton, AB T5S 1J8 |
|
Lloyd Sadd Insurance Brokers |
Insurance broker |
780-483-4544 |
700-10240 124 St, Edmonton, AB T5N 3W6 |
|
Quotes comparison |
1-855-487-6911 |
401-1910 Yonge St, Toronto, ON M4S 3B2 |
|
|
Quotes comparison |
1-844-726-0907 |
225 King St W, Suite 1000, Toronto, ON, M5V 3M2 | |
|
Robers-McClures Insurance Services |
Insurance broker |
780-439-4357 |
101-8008 105 St NW, Edmonton, AB T6E 4Z4 |
|
Insurance broker |
1-866-456-6620 |
22-300 Lincoln St, Welland, ON L3B 4N4 |
Need more information on Edmonton auto insurance brokers? We got you covered.
According to the RATESDOTCA Insuramap, a 35-year-old man with a clean record, who drives a 2019 Honda Civic, will pay an average of $1,586 per year for auto insurance in Edmonton, which is 1.8% higher than the Alberta average of $1,557 per year.
Note that this number may not be applicable to you, as personal factors such as your age, gender, driving experience, postal code, vehicle and others will all influence your specific premium. That said, it’s a good way to see where you stand, or could stand, if you were to change some of those factors.
That depends on you and your needs. However, an insurance broker, much like a comparison site like RATESDOTCA, is not tied to any one insurance company. They can bring you quotes and comparison prices from a variety of auto insurance providers that could save you money in the long run.
No. Brokers are paid by the insurance companies once a transaction is completed. Some brokers charge customers fees for their services.
Auto insurance brokers make money from the companies they partner with once a transaction has been completed. Brokers are paid a commission by insurers for bringing in the business to them.
Not necessarily. Brokers have the ability to deliver a variety of options to you that can help save you money on your auto insurance. Insurance companies will work with brokers because it’s another way for them to bring in business. Brokers in Edmonton are doing research and legwork for you, saving you time and money in the process.
RATESDOTCA is a quotes comparison website that aggregates quotes and provides you the cheapest auto insurance rates from the top 50 providers in Canada. It takes just a few clicks to view the quotes, and it’s completely free.
RATESDOTCA also owns the Welland-based Scoop Insurance brokerage (formerly Kanetix Ltd.).
Under Alberta’s Insurance Act, all agents and brokers must be licensed by the Alberta Insurance Council (AIC).
Sites like RATESDOTCA can help you compare and contrast prices from the top car insurance brokers in Edmonton. It’s a great place to start your research and find the cheapest auto insurance rates in your area.
*Represents the average saved by shoppers who obtained an Edmonton quote on RATESDOTCA and transacted via our contact centre between January and December 2022. The average savings amount represents the difference between the shoppers’ average lowest quoted premium and the average of the second and third lowest quoted premiums generated by RATESDOTCA.
Joel Kranc is a freelance writer and content provider who has worked with RATESDOTCA since 2019. He holds an MA in political science from the University of Toronto and a film certificate from New York University.
He has been published in and worked for such companies as CNN, Rogers Media, Institutional Investor Magazine, The Globe and Mail, Infrastructure Investor, BenefitsPRO Magazine, Global Finance Magazine, With Intelligence, the CPP Investment Board, Hospitals of Ontario Pension Plan, and many more financial services and industry publications.
He is the author of "Retirement Planning in 8 Easy Steps," which, when released in 2015, was No. 11 on the Publisher's Weekly US Bestseller List for Business and Finance, beating out Mark Cuban's "How to Win at the Sport of Business."
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