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No, it’s not! Comparing quotes and coverages from multiple insurance companies is the best way to find the auto insurance policy that’s right for your specific needs at the most affordable price. Doing this on your own can be quite time consuming, as you’ll need to contact different insurers and provide them with all the necessary information to get a quote. The good news is that an insurance broker can do this for you. They’ll shop the market, compare different offerings, and can help select the best solution for you.

Yes, you can get a quote at any time. In Ontario, auto insurance rates are filed with the Financial Services Regulatory Authority of Ontario (FSRA), so a company’s rates will be the same no matter where you get the quote. One advantage of using a broker that has access to multiple insurance companies is that they can compare quotes from many different providers for you at the same time.

No, they don’t. Rates are determined based on many factors, and these are often rated differently by insurance companies. Since auto insurance is so heavily regulated in Ontario, insurers are not able to provide discretionary discounts that would allow them to match quotes. However, auto insurance companies can offer discounts that are approved by the regulator, such as multi-policy discounts, claims-free discounts, or full-payment discounts.

In Ontario, insurers are not permitted to use credit as a rating factor for auto insurance. However, they may use your credit score as part of their rating for home insurance. But they can only do this with your permission. If you provide your consent, it does not count as an application for credit and has no impact on your credit score.

Insurance brokers can help you find the best price available by shopping around for you. Every insurance company has its own rates and coverages. An insurance broker will get quotes from multiple insurers and compare both price and coverage to ensure you have a policy that meets your needs.

Most insurance quotes are valid for 30 days. However, it’s best to confirm with your insurance broker how long a quote will be valid for.

Your auto insurance quote is affected by many different factors, including your driving record, the vehicle you drive, where you live, and more. It’s also impacted by the rates the provincial regulator has approved for the insurance company. If you received a quote from an insurer in the past, that same provider may have higher (or lower) rates now even though your driving record hasn’t changed.