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Updated
Auto insurance brokers in Mississauga, and Ontario as a whole, provide a valuable service to consumers looking to save money on their premiums. However, they should not be confused with insurance agents or quote comparison websites, as they are decidedly not the same. Read on to learn more.
An auto insurance broker works as a kind of independent agent. They sell insurance from many different car insurance companies to help customers find the cheapest quotes and policies for their specific needs.
Auto insurance brokers sometimes work with other types of products, such as life or home insurance. The best part is they do the legwork for you. Researching and seeking out rates is part of their service, as is presenting you with options and explaining the price points and benefits of each service. Brokers are typically paid by receiving a commission on the policy they sell from the provider they are putting forward. They may also get paid when clients renew their policies.
Both brokers and agents sell insurance, but they are not the same, as we’ve already mentioned. Before consulting one or the other, you should first learn what makes them different.
Unlike auto insurance brokers, auto insurance agents only represent one company. The products and services they offer are from one provider, and there are no comparisons to other vendors, or research about different options. They are here to help, but only in a limited capacity.
Because various savings can theoretically be passed down to the consumer in the form of a lower premium, you can negotiate this with your agent and see what’s possible.
Like many salespeople, auto insurance agents typically receive a base salary, plus a commission for the policies they sell. However, some agents work off commissions only – without a base salary. This means that one of their primary motivating factors is to sell you a policy, not necessarily secure you the best deal. That said, you can still get a good deal from them since they are often willing to negotiate – and have room to do so.
Since insurance brokers are not tied to one company, as a consumer, you can be reassured that their advice and information is relatively neutral and not tied to one product or service. They are looking for the best deal for you, regardless of who is offering it.
By comparing rates and working with a variety of companies, auto insurance brokers in Mississauga will help you find the policy that best suits your situation, at a price you are comfortable with.
Now that we’ve explained the difference between auto insurance brokers and agents, let’s compare the two side by side to quote comparison websites.
| Broker | Agent | Comparison website |
|---|---|---|
| Represents and sells insurance from a variety of insurance companies. | Typically only sells or represents insurance from one company. | Curates and compares the best rates from the top insurance companies in your area. |
| Works for the customer or client, which is you. | Is employed by the insurance company they represent. | Works for you and connects you to a broker who can discuss your specific needs during the comparison process. |
| Is paid a fee or commission by the insurance company you select, based on the annual premium of your policy. | Typically receives a base salary and commission based on individual sales results. | This is free to consumers. Comparison sites are paid by insurance partners after you connect with them through the site. |
| Brokers can help you save money by comparing policies and finding you the best rates available. | Agents sell auto insurance policies from the company they represent. There is no research or comparison to other providers. | Comparison sites help save you money by comparing rates from multiple insurance companies in their partner network. RATESDOTCA, for instance, has over 50 partners. |
Auto insurance comparison websites like RATESDOTCA are great ways to find the best car insurance quotes in Mississauga – or anywhere else in the country. A comparison site does all the legwork for you and provides you with the cheapest quotes in minutes.
RATESDOTCA compares quotes from top auto insurance providers only and is partnered with more than 50 of them to give you as much choice and flexibility as you need.
It’s also a very simple process, which takes only a few minutes of your time. All you need to do is input a few bits of information about your insurance needs and your location, and RATESDOTCA does the rest. If you find a rate and policy that works for you, you can be instantly connected to a broker who will help complete the transaction – and voila, you’re done.
Speed, choice, flexibility, and of course, cheap rates, are all at the click of a mouse when you use comparison sites like RATESDOTCA.
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| Company name | Company type | Phone number | Address |
|---|---|---|---|
|
Aaxel Insurance Brokers Ltd. |
Insurance broker |
905-362-8080 |
220-1550 S. Gateway Rd, Mississauga, ON, L4W 5G6 |
|
Able Insurance Brokers Ltd. |
Insurance broker |
1-866-619-2253 |
400-2560 Matheson Blvd E, Mississauga, ON, L4W 4Y9 |
|
All-Risks Insurance Brokers Ltd. |
Insurance broker |
905-828-2200 |
Derry Village Square, 228-7070 St. Barbara Blvd, Mississauga, ON L5W 0E6 |
|
Billyard Insurance Group - Mississauga East |
Insurance broker |
289-724-2272 |
106-1055 Canadian Pl, Mississauga, ON L4W 0C2 |
|
Brokers Trust Insurance Group |
Insurance broker |
905-812-7223 |
201-6465 Millcreek Dr., Mississauga, ON, L5N 5R3 |
|
Quotes comparison |
1-855-821-7312 |
225 King St W, Suite 1000, Toronto, ON, M5V 3M2 |
|
|
Quotes comparison |
1-855-487-6911 |
401-1910 Yonge St, Toronto, ON M4S 3B2 |
|
|
Lucky Insurance Brokers Ltd. |
Insurance broker |
1-833-325-8259 |
230-1550 S. Gateway S, Mississauga, ON, L4W 5G6 |
|
Quotes comparison |
1-844-726-0907 |
225 King St W, Suite 1000, Toronto, ON, M5V 3M2 |
|
|
Insurance broker |
1-866-456-6620 |
22-300 Lincoln St, Welland, ON L3B 4N4 |
Need more information on Mississauga auto insurance brokers? We got you covered.
According to the 2023 RATESDOTCA Insuramap, the average car insurance premium in Mississauga is $2,311 per year. That’s about 24.5% higher than the Ontario average of $1,744.
Using an insurance broker to find car insurance in Mississauga is a personal choice. There are advantages to using a broker. For example, brokers represent multiple insurance providers and will find you the cheapest quote for your car insurance needs with an unbiased viewpoint. This is in contrast to an agent, who will only offer prices and policies from the one company they represent.
Brokers are also free for the consumer to use. They are paid commissions by the insurance companies they represent.
Insurance brokers are paid fees and commissions by the insurance companies they represent. They are free for consumers to use.
Auto insurance brokers make money when they sell a policy. The company they have sold the policy for will pay a fee or commission, which is usually a portion of the policy premium.
It depends. An agent may be able to negotiate a lower price for you and pass the savings down to you. However, there is only that one option. An auto insurance broker, however, will provide options from multiple companies, which means that they have more opportunities to give you a lower price.
RATESDOTCA is a comparison website that makes it easy for consumers to search the auto insurance market for the cheapest premium. It only takes a few clicks to be matched with a range of quotes from Canada’s top insurance providers.
RATESDOTCA also owns the Welland-based Scoop Insurance brokerage (formerly Kanetix Ltd.).
In Ontario, all brokers are licensed by the Registered Insurance Brokers of Ontario (RIBO). RIBO is a self-regulatory body established in 1981. They manage the licensing, professional competence, ethical conduct and insurance-related financial obligations of all independent general insurance brokers in the province. Learn more about RIBO.
It all depends on your needs, location and how well you research the companies in your area. The best place to do that are sites like RATESDOTCA, which offer the cheapest quotes, from the top providers in your area. It only takes a few clicks of your mouse and it’s free and easy to use.
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