Frequently Asked Questions
To learn more about working with an insurance broker in Ottawa with Insurance Hero, take a closer look at some of our most frequently asked questions before getting a free quote and speaking with a professional representative.
1. Why Use an Insurance Broker to Get Insured in Ottawa?
Working with an insurance broker in Ottawa can provide you with more insurance products and policies that will tailor to your unique needs. This is because an insurance broker, rather than working on behalf of a specific insurance company, works on behalf of the customer.
Further, insurance brokers are able to provide you with unbiased recommendations from several insurers rather than one, which will aid you in getting a more comprehensive portfolio at a better rate. Additionally, when working with an insurance broker in Ottawa, such as an Insurance Hero, you will not need to pay a fee for services.
Therefore, if you are in the market for home, life, travel, auto, or business insurance in Ottawa, you may benefit from choosing to work with an insurance broker rather than a single insurance company. That way, you can truly customize your insurance policy to your unique needs and expectations.
2. How Is an Insurance Broker in Ottawa Different Than an Agent?
While it is common to think that an insurance broker in Ottawa is the same as an insurance agent, they are, in fact, different. Simply put, the main difference between an insurance agent and an insurance broker is that an agent represents one insurance company they work for directly, while a broker works on behalf of a customer to find the best insurance policies from various companies.
Therefore, by providing an opinion and recommendations that are unbiased towards a specific company, customers can have peace of mind knowing that their best interests are in mind when their broker is crafting their insurance policy for them. Additionally, as agents only have access to insurance policies offered by their employer, customers are limited in the options available to them. On the other hand, an insurance broker in Ottawa will have access to numerous insurance products from different companies for more personalized options.
3. What Are Ottawa Insurance Requirements?
Ottawa insurance requirements include the following:
All registered vehicle owners must have accident benefits coverage and a minimum of $200,000 in third-party liability. These requirements will help cover the cost of medical expenses and damages that may incur as the result of an accident where you have been found at fault.
All businesses operating in the province of Ontario are required by law to purchase a business liability insurance policy. This comprehensive insurance policy provides you with coverage against lawsuits and human errors.
While home, life, and travel insurance are not mandatory in Ottawa, Ontario, it is suggested that individuals purchase coverage policies to ensure their assets, health, and safety are protected in the event that something should occur. Otherwise, you can end up spending hundreds to thousands of dollars in unexpected fees that may result from medical expenses, death, property damage, and more.
4. When Do I Need an Insurance Broker?
If you have purchased a new vehicle, are launching, or expanding your business, are planning a vacation to a foreign country, have begun planning for retirement, or investing in new real estate, then you may wish to speak to an insurance broker about purchasing a comprehensive insurance policy to ensure the financial security, protect your assets, and guarantee you are medically covered in the event of an accident.
With the help of the professional insurance brokers at Insurance Hero, we’ll guide you in customizing a policy portfolio that works with your needs while assisting you in saving money where we can with discounts on group packages.
5. What Are the Benefits of Having Insurance?
Purchasing a customized, comprehensive insurance policy for your business, home, and vehicle can provide you with several benefits you may not already be aware of. Some of these benefits include:
- Protecting your personal finances from unexpected costs such as medical expenses, vehicle repairs, reimbursements for stolen, damaged property, and vandalism, and legal fees that may arise from an insured accident
- Insurance Hero offers customized policy features that tailor to your unique needs and expectations for comprehensive coverage
- Paying a small fee for insurance each month will help you save money later down the line in the event something unexpected should occur
- Purchasing a bundle insurance policy can save you money every year in premiums
- Proves you the peace of mind knowing you and your livelihood are covered
To find out more about how Insurance Hero can help customize a comprehensive insurance plan for you, your family, and your business, get a free quote today before speaking to a professional insurance broker in Ottawa.