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As reported by CTV recently, an Ontario woman learned the hard way about the potential dangers of finding cheap car insurance online. From Toronto to Edmonton, many Canadians have become convinced that finding car insurance online is the only affordable option available to them. If you’re a small business owner, however, this may not be the case.

While traveling down Toronto’s highway 401, small business owner Adrienne Winterhelt got in the first car accident of her thirty years of paying insurance premiums for auto insurance. Although she was, thankfully, not injured, the same couldn’t be said of her van, which required extensive repairs. She had recently switched to a cheaper, online auto insurance company for her insurance needs. When she made her claim, however, she was shocked to learn that the company was voiding her policy because she occasionally used her personal vehicle to make deliveries on behalf of her small business.

This small business owner had thought that she had informed her insurance company of her use of her car for business purposes but did not realize that occasionally delivering her business’s product to customers voided the policy she had bought. According to her insurance company, the moment she delivered a product to a customer in her private vehicle, she was technically driving uninsured.

Adrienne Winterhelt’s unfortunate situation highlights something that we can all learn about the potential risks of buying cheap and quick insurance online. Auto insurance can be a complicated issue for people who have complex lives, like those of small business owners. An insurance broker can ensure you have the right coverage for your needs as a small business owner.

How to find reliable, affordable car insurance in Edmonton

Insurance brokers are insurance experts that can take the burden of complicated contracts and insurance policies off your shoulders. Rather than attempting to understand insurance policies yourself, an insurance broker can find the best option for you, explain it clearly, and work with insurance companies on your behalf to get you the best prices they can, with the right coverage.

If you’re looking for auto insurance brokers in Edmonton, contact us at MBS Insurance Brokers Ltd. We’re here to make sure you get the best auto insurance you can for a price that works for your budget.

How an Insurance Broker Saves You Time and Money

Do you know the benefits of an insurance broker?

Suppose you’re looking for the best insurance coverage at the best rates in Edmonton. In that case, you’ll first want to understand the benefits of an insurance broker and how they can help protect you in all sorts of different situations – whether it be saving you money, time or giving you simple peace of mind.

What Are the Benefits of an Insurance Broker?

Here are some of the many benefits of an insurance broker.

 

1. Saves Time

An insurance broker does all the work for you, so you don’t have to spend your valuable time shopping around for insurance. Instead, you simply provide your broker with information about your needs, and they shop the markets on your behalf.

 

2. Saves Money

Insurance brokers work with many different partners to find the best deals on the insurance that works for you. They take all your needs into account and make recommendations that are in your best interest. They have relationships with many insurance partners and can negotiate competitive rates and discounts, saving you money in the long run.

3. Expert Knowledge and Advice

An insurance broker provides you with the support and expertise you need to find coverage that suits your needs. They work with various products and services to find the coverage that best suits you. In addition, they can draw from an extensive knowledge base and experience to advise you on the best options. 

Insurance Brokers provide expert and unbiased advice. A wealth of knowledge about coverage and market rates combined with expert risk assessment ensures your possessions and business are adequately protected. Whether you are looking into auto insurance rates, tenant insurance, or home insurance rates, your insurance broker can help you every step of the way.

You can utilize their expertise to quickly identify your options and rely on their unbiased advice to help you make the best-informed decision for your situation.

 

4. Working For Your Best Interests

Since insurance brokers do not work with one particular company, they have nothing to gain from recommending a specific product. The insurance company also pays them a standard commission. Thus, there is no financial incentive to choose one insurer over another.

Insurance brokers have your best interests in mind. You can count on them to find you the best rate possible, which can give you the peace of mind you need. You can rest assured knowing that if you ever need to file a claim, one of our brokers will be there by your side to guide you every step of the way. They act as an advisor on insurance-related matters. They will shop the market for the best coverage and rates for you. Since fulfilling your needs is their only priority, they will provide independent, unbiased advice on the right coverage for your situation.

5. Privileged access and rates

Insurance Brokers have access to a wide selection of the best insurance companies in the country. These insurance companies are only accessible by Insurance Brokers. They do not deal with the public directly or with Direct Writers. Brokers enjoy long-standing relationships with these insurance companies. Still, they do not have an affiliation with any specific insurer, enabling brokers to provide you with a broader range of options at competitive rates.

 

6. Transparency

Insurance brokers must give full disclosure about their compensation and its effect on your insurance premium.  They are also required to declare any financial links with specific companies that may be a conflict of interest, enabling you to make the best-informed decision.

 

7. Risk and Advocacy Experience

Extensive experience dealing with different clients and claim situations equips insurance brokers with a broader perspective on how to reduce your risk. Also, in the event of a claim, you can count on your broker to act as your advocate with the insurance company and handle your claim fairly and promptly.

Speak to MBS Insurance in Edmonton about your Coverage

Reach out to MBS Insurance today to determine your home, auto, and commercial coverage options. Over the past 45 years, our experienced team of insurance brokers in Edmonton has earned the trust and loyalty of our clients by delivering superior products and services. We understand your needs and provide you with the best protection and rates.

There are many benefits of an insurance broker. We can help you understand the intricacies of your insurance plan while saving you money at the same time. We are a trusted insurance provider in Edmonton and provide personal and commercial insurance policies to people living in Alberta. We offer the best rates on recreational, auto, property, commercial, and group insurance policies. 

Contact us online for a free quote or by phone at 780-436-7880.

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This article was originally published on October 7, 2016, and updated for 2021.