An insurance broker is a licensed professional that advocates on behalf of their clients (you) to find the best insurance rates and products. Brokers usually have access to services from several different insurance companies, but they do not work for these companies. This allows them to provide a wide range of rates and services. Some insurance brokers specialize in one type of insurance, such as auto or home insurance, while others may offer a variety of different insurance products.

The insurance quotes you get from InsuranceHotline.com come from a wide network of insurance brokers, which is why there is such a range of quotes, companies and policies for you to choose from.

Insurance brokers have relationships with numerous insurance companies and providers, giving drivers plenty of options when it comes to finding the best car insurance rates in Ottawa.  

When you use InsuranceHotline.com, you receive rates from our network of brokers serving Ottawa, which means you’re not just seeing the best rate from one broker, but from all the brokers partnered with InsuranceHotline.com. That’s how we’re able to post rates from more than 30 trusted providers serving the Ottawa region and beyond.  

Brokers are also licensed insurance professionals, so they’re able to offer guidance and support for all your insurance needs. While InsuranceHotline.com aggregates insurance rates, you purchase your insurance policy directly from the broker. For every quote you receive, you’re able to see the broker information, including their name, where they’re based out of, and their contact details. It’s a great way to find someone who caters to your insurance needs. 

All insurance brokers in Ontario, including those in Ottawa, must be licensed and registered under the Registered Insurance Brokers of Ontario (RIBO). Most insurance brokers have a college or university education before taking the RIBO course and exam. RIBO is a self-regulating body for the insurance broker profession. 

After completing the RIBO level 1 course and exam, Ottawa insurance brokers must find employment at a general insurance brokerage within one year of completing the testing in order to obtain the license. To maintain their RIBO licence, insurance brokers are required to take a minimum of eight hours of continuing education in their field each year. 

Ottawa insurance brokers, like all other brokers in Ontario, can further their credentials if they wish by becoming a licensed RIBO level II insurance broker. This allows them to become a Principal Broker and/or open their own insurance brokerage. 

They can also become a Canadian Accredited Insurance Broker (CAIB) through the Insurance Brokers Association of Ontario (IBAO). In Ontario, only licensed insurance brokers with a Property & Causalty IBAO designation can use the CAIB designation. 

All insurance brokers posting rates on InsuranceHotline.com are at minimum licensed RIBO brokers. 

The Financial Services Commission of Ontario (FSCO) regulates the insurance sector in Ontario and is accountable to the Minister of Finance.  

Among its responsibilities, FSCO approves/denies requests from auto insurance companies to increase or decrease their rates in the province, as well as administers a number of acts including the Insurance Act, the Automobile Insurance Rates Stabilization Act, the Motor Vehicle Accident Claims Act, and the Compulsory Automobile Insurance Act. For an updated list of all approved FSCO auto insurance rate changes, check out the Ontario car insurance page here. 

As of September 30, 2018, FSCO oversaw 309 insurance companies across all sectors, 55,942 insurance agents, 6,139 corporate insurance agencies, 1,836 insurance adjusters, and thousands of pensions plans, mortgage brokers, agents and more.  

No. InsuranceHotline.com aggregates insurance rates from our network of insurance brokers and professionals to help you compare insurance rates. We do not sell the insurance, but you can connect with the insurance brokers of your choice from our website. For a full list of the auto insurance providers available across our network, visit the insurers page here. 

When it comes to auto insurance, most insurance brokers do not charge fees. Instead, they make their money via commission from the insurance company they sell the policy for. Generally, this means you wouldn’t see any increases in your premiums by working with a broker. In fact, often you can save more by going through a broker rather than directly through the insurance company. Comparing rates across brokers is even more advantageous.  

Similarly, InsuranceHotline.com does not make money by providing quotes to consumers. Instead, we make our money from our insurance partners in the form of leads. If you purchase insurance through one of our partners via our site, we would make a small commission from the broker or partner for facilitating that connection. That's why our service is free to use!  

Insurance brokers work for you, their client, while insurance agents work directly for an insurance company. Brokers can offer you different policies from different companies, but they are not the people who write the insurance policies. Instead, they work with the insurance companies to bind your policies. Insurance brokers operate a bit like a third-party that is concerned with getting you the best policy and value for your money. An insurance agent on the other hand can typically underwrite your policies from start to finish, so it’s one point of contact. It’s a matter of personal preference whether you choose to work with an insurance broker or purchase your policies directly from an agent.