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Auto Insurance Brokers in Edmonton

Compare and save hundreds on average on Edmonton car insurance with RATESDOTCA.

Compare Edmonton car insurance quotes from top providers

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Economical
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Written By Joel Kranc

Contributing writer

Updated

About Edmonton auto insurance brokers

Looking to learn more about auto insurance brokers in Edmonton, and Alberta as a whole? Here’s everything you need to know:

What is an auto insurance broker?

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.

How to become an auto insurance broker in Edmonton?

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:

  • Have a Canadian Insurance Participant Registry Number (CIPR)
  • Pass a required exam
  • Have obtained a criminal record check
  • Have errors and omissions insurance
  • Have an employer or sponsoring insurance agency

Auto insurance brokers vs. brokerages

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.

What is an auto insurance brokerage?

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.

How to start an auto insurance brokerage in Edmonton?

To start an auto insurance brokerage in Edmonton, you must:

  • Pass all of the exams required to earn your Level 1, 2 and 3 license. In Alberta, this means passing the AIC Level 1, 2 and 3 exams.
  • Have a ‘designated representative’ who has passed their Level 3 management license.
  • Get at least one insurance company to provide you with the ‘authority to represent’ (ATR), which will give you permission to sell products and services.
  • File the registration paperwork with the AIC.

How can an auto insurance broker help me find the best car insurance rates in Edmonton?

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.

Insurance broker vs. insurance agent vs. insurance comparison website

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.

Most recent Edmonton car insurance quotes 

Recent Auto Insurance Quote from EDMONTON, ALBERTA
Male, Age 35
2020 BMW M850i xDrive GRAN COUPE 4DR AWD
July 20, 2024
Cheapest Quote
$ 289 / month
$3,466 / year
Average Quote
$ 652 / month
$7,820 / year
Savings
$ 363 / month
$4,354 / year
or
55.68 %
Recent Auto Insurance Quote from EDMONTON, ALBERTA
Male, Age 47
2014 LAND ROVER RANGE ROVER EVOQUE 4DR 4WD
July 19, 2024
Cheapest Quote
$ 266 / month
$3,197 / year
Average Quote
$ 434 / month
$5,213 / year
Savings
$ 168 / month
$2,016 / year
or
38.67 %
Recent Auto Insurance Quote from EDMONTON, ALBERTA
Male, Age 31
2022 FORD RANGER XLT SUPERCREW 4WD
July 19, 2024
Cheapest Quote
$ 169 / month
$2,029 / year
Average Quote
$ 234 / month
$2,804 / year
Savings
$ 65 / month
$775 / year
or
27.64 %
Auto insurance quotes are compared from CAA, Coachman Insurance Company, Echelon Insurance, Economical Insurance, Gore Mutual, Onlia Insurance, Pafco, Pembridge, SGI, Travelers, Zenith Insurance Company

What people say about our quotes

Rating stars

Based on 6,266 reviews

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Top car insurance brokers in Edmonton

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

InsuranceHotline.com

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

LowestRates.ca

Quotes comparison

1-855-487-6911

401-1910 Yonge St, Toronto, ON M4S 3B2

RATESDOTCA

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

Scoop Insurance

Insurance broker

1-866-456-6620

22-300 Lincoln St, Welland, ON L3B 4N4

Frequently asked questions about Edmonton auto insurance brokers

Need more information on Edmonton auto insurance brokers? We got you covered.

How much is the average car insurance in Edmonton?

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.

Should I use an insurance broker to find car insurance in Edmonton?

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.

Do I have to pay an insurance broker?

No. Brokers are paid by the insurance companies once a transaction is completed. Some brokers charge customers fees for their services.

How do auto insurance brokers make money?

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.

Do I get higher auto insurance rates from auto insurance brokers than insurance companies?

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.

Is RATESDOTCA an insurance broker?

RATESDOTCA is a quotes comparison website that aggregates quotes and provides you the cheapest auto insurance rates from the top 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.).

Who licenses insurance brokers in Alberta?

Under Alberta’s Insurance Act, all agents and brokers must be licensed by the Alberta Insurance Council (AIC).

Where can I find the best car insurance brokers in Edmonton?

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 ,
Writer

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."

Education
  • Master's of Political Science, University of Toronto
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