With so many choices for car and home insurance, it’s hard to decide what best matches your needs. Before making an investment in your insurance coverage, here are some key questions to think about while you’re shopping around:

1. What are your specific insurance needs?

• What coverage is mandatory for your vehicle? What's optional?
• What is the replacement value of your home and its contents?
   

2. Who can best fulfill my needs? There are different ways to secure appropriate coverage, such as buying:

• Directly from one private insurance company, through a call centre or website.
• Through an agent who sells insurance for just one company.
• Through a broker who deals with multiple insurance companies.
   

3. Is there value in bundling several policies with one insurance company? Consider the multi-policy discounts or loyalty programs that may be available for:

• Insuring multiple vehicles and/or several drivers who live in the same household.
• Adding coverage for your classic car, motorcycle, and/or seasonal vehicle.
• Insuring your cottage, boat, and/or recreational property with the same company as your primary residence.
   

4. Where to find an insurance representative?

• Seeking a broker to investigate the marketplace on your behalf? In addition to a personal referral, you can also contact your provincial insurance brokers' association or the Insurance Brokers Association of Ontario.
• Require a broker for a specific insurance company? Contact the insurance company directly or visit its website. The company will be able to direct you to an appropriate broker.
• Considering an insurance agent? You may want to ask a trusted relative, friend, or business associate for a referral.
   

5. Ready to interview a potential insurance representative? Questions you may want to ask include:

• Are you appropriately licensed in this province? To verify that an agent or broker is licensed to sell insurance, contact the licensing body for your province.
• Are these the lowest policy prices?
• Can I save money by changing my deductible?
• What are the cancellation rules?
• Is the claims service available 24/7/365?
• If I'm in a vehicle collision and it's my first one, how will it affect my premium?
• What happens to my premium after one or more speeding tickets?

With in-house claims services, licensed brokers, multi-line discounts, and some of Canada’s most trusted carriers, find out why our members trust OTIP with their insurance solutions.

Contact us today

• Want to talk about your existing auto and home coverage with OTIP? Speak with a representative today at 1-833-494-0089.

• If you’re looking for a quote on your auto and home insurance, speak with an OTIP Broker today at 1-833-615-9326.

1. Insurance Buying Tips – Insurance Bureau of Canada (IBC)