Why should you get an insurance quote?
Getting an insurance quote is the first step in getting a new insurance policy, changing your current insurance provider or simply researching the insurance market. There are many positive aspects of getting an insurance quote, aside from actually knowing how much you could pay for your car, home, life or any other insurance policy.
- Easy: Nowadays it is really easy to get an insurance quote. In the past you had to visit or call your insurance broker or agent. Today, getting an insurance quote is just a few clicks away.
- Quick: It does not take long to get an insurance quote – somewhere between 3 and 15 minutes. If you simply request somebody to contact you to provide an insurance quote, it will take you no more than 1-2 minutes to complete the contact form.
- Saving money: The truth is that insurance is not cheap. Taking a few minutes to compare insurance rates and get an insurance quote can result in savings of hundreds of dollars each year.
- Comparing across multiple providers: When you get an insurance quote (at least at our platform), we help you compare rates across multiple insurance providers, often more than 15-20 insurance comapnies, for the majority of insurance types.
What types of insurance quotes are available?
There are typically three ways you can get an insurance quote at our platform – it depends on your own preferences.
The three ways to get an insurance quote are:
- Instant insurance quotes: This type of insurance quote means that you provide all the data required to calculate your insurance rate, such as e.g. coverage data for life insurance, vehicle data for auto insurance, and house data for home insurance. An insurance quoting engine calculates an insurance rate tailored to your situation and provides you with an insurance quote. In some cases, you can even purchase an insurance policy online.
- Non-instant insurance quotes: This quoting approach requires you to spend less time completing online insurance forms. You simply complete a short contact from and an experienced insurance broker, who is licensed in your province, contacts you to collect all the information required for a personalized quote, and he/she will share with you the calculated insurance rate.
- Via phone: Some people prefer calling and asking for the quote themselves – for such customers we have a dedicate phone number for some insurance types, allowing you to call an insurance broker who will navigate you through all the insurance questions and give you an insurance quote.
What impacts your insurance quote?
There are many aspects that impact your insurance quote. Each insurance type comes with its own set of data that needs to be collected to provide you with an accurate insurance quote. For example, a life insurance quote would require information about your age, smoking habits, and type of coverage. A home insurance quote would capture data about your home (location, building materials, etc.), type and size of coverage required (content coverage, earthquake coverage, sewer backup protection, etc.). A car insurance quote would be focused on your driving history, your vehicle, and other relevant aspects.
This data is required to calculate your rate correctly, since insurance is based on statistics and history of insurance claims.
Number of insurers whom we use to quote you
One of the most important aspects of an insurance quote is the number of insurers who can be compared. Insurancelly praises itself for working with insurance brokerages across Canada who are providing access to many insurance companies, ensuring that consumers get a fair comparison.
You also need to consider that not all insurance companies are active in all provinces – some insurers choose not to be in some provinces due to a number of reasons (regulation, size of the market, etc.).
- Life insurance: insurance quotes across more than 20 insurers in most provinces; the same applies to critical illness insurance quote, disability insurance quote, and health insurance quotes.
- Car insurance: insurance quotes across more than 20 insurers in Ontario and nearly 10 insurance providers in other provinces.
- Home insurance: Nearly 10 insurance providers in numerous provinces, and a dedicated insurance provider (known for its low rates) – Square One Insurance – in ON and BC. Please remember that different types of homes have a slightly different insurance quoting processes and coverage, such as condo insurance quoting.
Important things to know when getting a quote
There are some things that you need to know when getting an insurance quote:
- Correct information: You must provide correct information when getting a quote. If you provide incorrect data, it will lead to incorrect rates and, what is worse, if you go ahead and decide to purchase an insurance policy based on incorrect data, your claim might be not paid.
- Correct contact data: If you have not provided contact data, especially in the case of non-instant insurance quote, an insurance broker cannot contact you.
- Quote is only an estimation: An insurance quote normally shows you an approximate rate you’d pay. It can change based on additional data you will provide or on specifics of a particular insurer’s underwriting process.
- Educate yourself about rates: Our insurance blog provides the most current information and comparisons for various insurance types such as e.g.:
Informing yourself through our publications and insurance tools, such as our term life insurance rates comparison, will help you get affordable insurance and enjoy great savings.