Properly insuring your home with a home insurance broker?
Shopping may seem like a tedious task, but it’s essential to properly insuring your home. Thanks to experienced specialists, customers can benefit from a comprehensive and simplified service. Indeed, professionals help their customers by guiding them in the purchase of the best home insurance policy. This is an important decision to take advantage of adequate protection against the various damages associated with the various claims and which are covered in part or in full.
Which contract should be taken out by an insurance broker?
Different home insurance policies are available that adapt to the needs of owners, tenants and co-owners. Some contracts offer extended “all-risk” protection, while others offer guarantees covering specific risks and specific property.
The extended formula: this so-called all-risk insurance contract covers both residential buildings and movable property, with the exception of the exclusions in the insurance contract. According to Jean Boissonneault, associate damage insurance broker.
This protection guarantees more comprehensive coverage. This is the reason why the broker offers it to his clients when the insurance company allows it. He can then submit them with appropriate guarantees at the best price. This contract has many advantages, given that the insurance is more extensive. Thus, if the house is plagued by a skunk, the insured will be compensated by the insurance company. That said, it would always be wise to consult an insurance broker to find out what coverage and protection is offered, as well as any specific limitations that may exist.
Named risks insurance: unlike the previous contract, this one only covers the risks mentioned in its clauses. These include claims such as fire, theft, vandalism, windstorms, hail, smoke and falling objects.
However, it would be possible to opt for the extended building and designated perils formula. This choice is more affordable, but with less extensive guarantees and less significant specific limitations.
Civil liability insurance: this guarantee remains unknown to people, but it is essential because it protects the insured in the event that his or her liability is engaged. For example, if one of the guests is injured in the insured’s home. It would even be possible to take out excess liability insurance or a so-called umbrella contract. Home Insurance Broker
How to protect your home and personal belongings?
If you’re looking for the best home and contents insurance, you need look no further than Assur360. We offer the best home and content insurance because we are one of the
We’ve been the trusted home and contents insurance broker since 2014. We offer unparalleled customer service and our insurance brokers are knowledgeable, experienced, and strive to find you the best home insurance and content possible.
Do you want a home insurance quote and content ? Request a quote online, by phone or in person.
Home insurance protects your most valuable asset, your home, and all your personal belongings. Whether you’ve purchased a new home or are looking for home insurance quotes for an existing home, Assur360 can be your trusted home insurance broker .
We are truly independent and we work with many of the best insurance companies. This gives you competition and choice for your quotes and protection.
Here is a clear comparison table between a damage insurance broker and a damage insurance agent, as they are distinguished in Quebec or in other French-speaking jurisdictions:
Comparison Chart: Broker vs. Property Casualty Insurance Agent
| Criterion | Property and Casualty Insurance Broker | Property and Casualty Insurance Agent |
|---|---|---|
| Definition | An independent professional who acts as an intermediary between the client and several insurers. | A representative related to a single insurer (or a group of affiliated insurers). |
| Employment Relationship | Works for a brokerage firm (independent). | Works directly for an insurance company. |
| Product offering | May offer products from several insurers (comparison possible). | Can only offer products from their insurer. |
| Duty to the customer | Has a duty of advice and loyalty to the customer : he seeks the best coverage at the best price. | Has a duty of loyalty to the insurer who employs him. |
| Main objective | Represents the client’s interests. | Represents the interests of the insurer. |
| Product selection | Wide choice: he shops with several insurers. | Limited choice: he only offers his employer’s range of products. |
| Remuneration | Receives a commission from the insurers with whom he places contracts. | Receives a salary or commission from the insurer for whom they work. |
| Professional Liability | Must declare conflicts of interest and maintain independence from insurers. | Has no independence, acts on behalf of the insurer. |
| Examples of situations | The customer wants to compare the premiums of several companies to insure his home. | The customer contacts Desjardins, Intact or La Capitale directly to insure their car. |
| Regulation (Quebec) | Holds a licence issued by the Autorité des marchés financiers (AMF) as a damage insurance broker. | Holds an AMF license as a damage insurance agent. |
FAQ
What is a damage insurance broker?
A damage insurance broker is an independent professional who acts as an intermediary between consumers and residential insurance companies. His role is to advise his clients on the best insurance options according to their needs, by analysing and comparing the offers of different companies. Unlike insurance agents, who represent a specific company, home brokers work with multiple insurers to offer a wider range of insurance products. They provide personalized advice and help their clients understand the different coverages available, in order to choose the best insurance for their belongings (such as homes, cars, and businesses).
FAQ
Can the broker really get better rates?
With access to multiple offerings and knowledge of the market, brokers often have the ability to find more competitive rates than a client could get on their own.
How much does it cost to work as a home insurance broker?
Brokers are usually compensated by insurance companies via commissions, so their services are often at no additional cost to the client.
What is the difference between an insurance broker and an insurance agent?
An agent represents a specific insurance company, while a broker works with multiple companies to offer more options.
Why Assur360?
We have been helping Quebecers purchase their home insurance for several years. Our home insurance brokers are experienced, knowledgeable, and have a hands-on, customer-focused approach to insurance.
