When shopping for insurance, many people in Alberta know the value of looking at multiple options to find the best offers. But how can you do this without spending hours looking back and forth through websites and battling pop-up ads as you try to compare pricing and options?
Your hours of searching could turn into days of comparison and possibly weeks of regret afterward. At Cornerstone Insurance Brokers, we understand the intricacies of insurance in Alberta. We’re here to help by providing you with a guide on how to easily compare insurance rates in Alberta.
Comparing Policies on Your Own
Comparing policies on your own comes with a couple of distinct challenges.
First, it’s difficult to get an “apples to apples” comparison when you are contacting different insurance companies, either by phone or by using their online quote forms. For example, if you wanted to compare an auto insurance policy, one quote may include $2M in liability, while another includes only $1M in liability. This is only one factor that can differentiate quotes. Overall, this makes it difficult to see whether one insurer’s rate is more or less reasonable than another.
Second, when comparing insurance companies on your own, there isn’t a way to know exactly what you will be paying for a certain kind of policy until you have a firm quote. There are two reasons for this. First, you need to know what coverage options you would like to include to receive an accurate quote. Second, a company needs to confirm all your important details, such as accident history, insurance history, and any traffic violations, before being able to confidently tell you a price.
Finally, some options will not be available for you to check on your own. Some insurance companies require inquiries through insurance brokers. This means that an insurance brokerage, such as Cornerstone Insurance Brokers, will need to contact the company on your behalf to get a quote. On the other hand, some insurers only sell insurance directly to consumers, so those options will be available.
Despite these challenges, it’s not impossible to contact insurers yourself to receive quotes. However, there are a few ways to make it easier and faster to compare insurance rates on your own.
How to Compare Policies on Your Own
One of the most difficult aspects of comparing insurance policies on your own is managing the data you receive. We recommend keeping a spreadsheet to track all of this information easily. For each quote you receive, you’ll want to note the company, pricing, payment options, policy options, coverage limits, and extra options.
Another useful approach is to make a list of your insurance “must-haves” before you begin contacting insurers. Is windshield coverage an essential for your auto policy? Do you need to have a certain amount of commercial liability insurance to work with specific partners? Knowing these details upfront can help ensure you are receiving quotes that are more aligned with one another, making the comparison easier.
How a Broker Can Help You Find the Best Quote
The Difference Between Insurance Brokers and Agents
There are two types of professionals you may communicate with when finding insurance: agents and brokers. If you decide to compare insurance rates on your own, you’ll deal with multiple insurance agents. Meanwhile, if you decide to use an insurance broker, you’ll speak with a single expert who can offer comparisons between many different insurers.
Insurance agents work for a specific insurance company. The agent works only for that company and cannot compare rates between insurance companies.
Insurance brokers have access to many different insurance companies and can compare policies and prices on your behalf. They shop the market to find the best policy options and prices, and then bring you the best options to choose from.
Using a Broker vs. Comparing Yourself
When you use a broker, you essentially hand off the difficult part of comparing insurance policies and premiums. For example, if you use Cornerstone Insurance Brokers, you will be put in touch with one of our experts in a specific area of insurance (for example, a personal lines insurance broker, such as auto insurance and condo/home insurance, or a commercial insurance broker, who can help with business insurance and other policies).
This expert will then ask you all the questions needed to obtain accurate insurance quotes from the various insurers. Once you’ve hung up and gone about your day, our broker will begin collecting information from all the insurers with whom we are partnered. In many cases, we can find you bundles and discounts you might not find elsewhere.
Once we have all the quotes and information, we can present you with your best options in a follow-up call. You’ll make the best decision for your needs and budget, and we’ll help get everything set up.
Helping You Compare Insurance Rates in Edmonton
Finding great insurance coverage in Alberta doesn’t need to be difficult or time-consuming. Whether you use our tips to make comparing policies on your own, or reach out to our experienced insurance brokers, you’ll find plenty of options for insurance in Alberta.
At Cornerstone Insurance, we are insurance brokers you can count on. For over 90 years, we have been building trust with both our customers and insurance companies. Ultimately, we want Albertans to benefit from working relationships with brokers and insurers who truly care about your day-to-day life.
If you have questions about a new insurance policy you need or a renewal that is upcoming, please reach out to us to learn more about your options. We can provide you with simple, no-obligation quotes to help you in your search for great insurance.