Sesame Street

Who are the People in your Neighbourhood?

By Coburn Insurance
October 12, 2018

Do you remember this song from Sesame Street? This will bring a smile to your face! It brought back fond memories of my son laying on the couch when he was two singing along at the top of his lungs. Not a care in the world and certainly not concerned about insurance.

Did you ever wonder why you need a Broker as an Insurance Representative? Why not just insure online or with a bank? They are all the same aren’t they? When buying insurance, you can choose to buy from an insurance agent who represents a specific insurance company, or you can choose to purchase your insurance through an independent insurance broker, us!

Here Are Some Reasons To Consider

An insurance broker works for you – not the insurance company. Your insurance broker is not tied to a specific company or a specific company’s products. They can search a number of companies and their products to find the best deal for you. A broker can take a thorough look at your personal needs and recommend the best coverage for you based on your situation. Brokers who are registered with the Insurance Broker’s Association of Ontario (IBAO) are bound by the organization’s Code of Ethics to find the best coverage available for their clients. Brokers can get you the best deal available from their portfolio of Companies, while agents are bound to represent a specific company, and are therefore more limited in the number of products they can offer. They can only recommend and only have access to their own company’s products. This may not be the right fit for your needs. Also, if your circumstances change and you no longer qualify for their Company they fire you as a client and send you on your way.  They have nothing else to offer. In other words, they want the cream of the crop nothing else.

Brokers are experienced and professional. Brokers deal with a wide range of products and services and are qualified to recommend the policies that best suit your needs from a broader portfolio of options than a direct insurance agent.  They typically have experience with clients dealing with losses and can guide you through the often confusing and stressful claims process, answering any questions that you may have. Brokers usually work for smaller companies representing big insurance companies and can often offer faster and more personalized support. In addition, every insurance broker must be bonded, meaning that you are protected in the event of any dishonest conduct.

Brokers (in Ontario) are licensed through the Registered Insurance Brokers of Ontario (RIBO). RIBO was established in 1981 and is a self regulated organization that authorizes the licensing of brokers for all general insurance in Ontario. Brokers are required to meet RIBO requirements in ethical conduct, professional competence and insurance related financial obligations. Brokers are required to earn additional education credits each year to ensure that they say up to date on the latest developments in the insurance industry and offer comprehensive knowledge and advice.

Your privacy is protected. Brokers are required by their Code of Ethics to maintain your privacy and keep all client discussions and information completely confidential.

Choosing an insurance broker means that you have a professional on your side when choosing the best policy for yourself and your family. Brokers offer professional and unbiased advice, ethical conduct, and full disclosure of all the information you need to make an informed decision. Insurance brokers are also experienced and skilled in dealing with the claims process from many different insurance companies – giving them a unique perspective. They can talk you through each stage while giving you personalized advice and excellent customer service. Brokers will help protect your privacy and advocate to the insurance companies on your behalf. They’re committed to lifelong learning, ensuring that they are informed on the latest changes and adjustments to insurance policies and legislation to give you the best options available when you purchase your next home, auto or farm or business insurance policy.

Your Insurance Broker is a person in your neighbourhood, we have a vested interest in you! Coburn Insurance, where you are not just a number, you are our neighbour. Over 100 years of expert Insurance advice.