While there are hundreds of insurance brokers located within the Canadian border, a few of them have a reputation of not being reputable or trustworthy. Business owners must perform extensive search inquiries, ask for recommendations and explore their options, before making a final decision. Your business, family and entire livelihood is banking on your decision, so take this task seriously. Below, you will discover several tips to help you find a trustworthy and reputable business insurance Ontario broker.
The video below eHow breaks down a few great points that are worth nothing when finding the right broker.
The Average Cost
When it comes down to it, there is really no universal price tag for business liability insurance in the country of Canada. In fact, the price can vary widely depending on numerous factors. Nevertheless, it is estimated that a sole proprietor will pay roughly $500 per year for insurance. A small consulting firm will likely be required to pay more than $3,000 each year for insurance. With that being said, it is absolutely essential to make sure that you’re handing your money over to someone reliable and reputable. You do not want to get yourself into more trouble.
The good news is that there are tons of excellent business insurance Canada providers. Tips for finding one that best suits you will be provided below.
Schedule Face-To-Face Meetings
If you think you can learn a lot from someone through phone conversations, you can learn a whole lot more through face-to-face meetings. During phone conversations, individuals can conceal their responses to questions, their deceptions and body language. This is not the case with face-to-face meetings, as the individual will be fully displayed in front of you.
Schedule in person meetings with several brokers from different insurance companies. While you have them in front of you, be sure to ask them tough questions about commercial general liability insurance that you are familiar with especially if you are operating in commercial hub province such as Ontario, Canada. Watch their reaction, when they discover you are knowledgeable on the topic. Also, have them to explain the difference between policies, while periodically chiming in and asking questions.
Avoid Overly Aggressive Agents
Your goal is to find an insurance broker that can guarantee protection from potential financial losses and follow through with these guarantees. One thing is for sure, you should never even consider doing business with an overly aggressive agent. If the agent is solely focused on a specific business insurance policy and not willing to allow you to explore your options, you should immediately move on to the next prospect.
Choosing A Well-Known Firm
When attempting to invest in any insurance for business purposes, it is often a good idea to stick with one of the well-known firms. There is a good chance that you’ve heard of Aviva Canada and Intact. These two companies are very reputable and they’ve been around for an extensive period of time. This does not always mean that one of the top firms will be right for you though. You should always do additional research to ensure that the company in question will be able to meet and satisfy each and every one of your needs and preferences.
There are tons of excellent commercial insurance providers. Nevertheless, there not all equal. You’ll find this out almost immediately. When attempting to find the right company, you will want to go above and beyond to choose a firm with tons of experience in the respective field. If the company is not thoroughly experienced, they will probably not be able to help you obtain the insurance you need at the prices that you deserve. They may overlook risks and this could wind up putting your company in a risky situation.
The Co-operators has been in business since 1997, while Aviva has been around far longer. Choosing a company with a longer track record is usually a good idea.
Before choosing a firm, it is absolutely pertinent to speak with them directly. You should always go above and beyond to make sure that the company in question is actually knowledgeable. Some of the biggest firms hire workers that are not necessarily skilled in their respective field. Before handing over your money, you’ll want to make sure that the company’s firm is actually knowledgeable in the field of business insurance.
Call the company or visit them in person. Speak with one of the staff members and see if they’re able to answer your questions. If they seem lost or out of depth, you should consider looking for another company. There are tons of excellent business insurance providers out there, so you should not feel obligated to settle!
If you do not follow the tips above, you will have a 50/50 chance of finding a reputable, trustworthy broker. If you do follow the tips, you will have a 90 percent chance of finding a reputable broker. The option is yours to make, so take your time, do research and think out your options.