Should I contact my insurance broker or my insurer?

Ready to purchase insurance, revise your coverage or make a claim? Let’s clear up the difference between insurance brokers and insurers by exploring exactly what they do.

What is an insurance broker?

An insurance broker does the work of finding the right insurance policy for you. They are trained insurance experts, so they can analyze your needs, negotiate with insurers, and recommend coverage that best matches your budget. It’s important to note that an insurance broker does not sell insurance: they broker the agreement between you and the insurer.

Brokers do not work for insurance companies: they represent you. In Quebec, your broker legally must present policy options from three different insurers upon your request. This ensures that your broker works for you, not the insurer. In fact, Intact Insurance works with a network of over 6,000 independent insurance broker offices across the country. 

Your insurance broker will secure the best policy possible for your specific situation, update your policy as your needs change over time, and answer questions about your policy and types of coverage that are available. They can also help you decide whether or not to file the claim, but only your insurer can confirm what payment you will receive after your claim is submitted.

Where does the insurer come in?

Insurance companies sell products that protect you from the financial cost of loss or damage to your assets, like your car, home or business. That’s what insurers are really there to do with help you get back on your feet when times are tough.

You can reach out to your insurer for a quote or to ask questions about making a claim, but you’ll get the most value from your insurer when they settle your claim. If your car is stolen, a pipe bursts in the basement, or an employee is injured on the job, your insurer will be there to support and protect you so that you can return to normal as quickly as possible.

When should I contact an insurance broker or insurer?