Name: Lakeview Insurance
Address: Calgary, AB
Telephone: 403-287-2521

When it comes to insurance, most people think that the biggest decision to make is the policy. While choosing the right policy matters, you actually have to make a more important decision. You have to decide between a broker and an agent. Learn how insurance brokers in Calgary get paid in order to understand why they benefit you.

Brokers Work for You But Agents Work for Insurance Companies

First, you should know that brokers are not the same as agents. Insurance agents work for the companies they represent. Therefore, these agents are always looking out for their employers first and foremost. Insurance brokers in Calgary, on the other hand, work directly for you. They represent your interests as they search for the best insurance coverage for your needs. This key difference is important to understand.

Brokers Will Earn a Commission from Your Sales

Because they are employees, agents get paid from the insurance company. As brokers, the paycheck must be earned in another way. Insurance brokers in Calgary still get paid by the insurance company. However, this payment comes as a commission. In other words, they are paid something like a finder’s fee because they are still giving the insurance provider new business.

The Payment Can Be a Percentage or a Flat Fee

The commission can be paid in two forms. In many cases, the commission is a percentage of the overall coverage. It may be anywhere from 2 to 8 percent depending on the market. However, in some cases, the broker may charge a flat fee. This happens most often when the broker is working for a larger client. In these cases, the broker may charge a flat fee for each enrollee into the coverage. This can streamline the process for larger clients.

Lakeview Insurance Brokers Ltd. has been a highly dedicated member of the Independent Brokers Association of Albert and has been family-run since 1979. Our brokers take the time to ensure you get the best policy that suits your needs. Contact us today to get started at 403-287-2521 or send an email to [email protected]

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Home insurance in Calgary is important. You need to keep your home protected in case of the unexpected, and in Calgary that means snowstorms, winds, extreme heat and way more. However, the costs associated with your plan does not have to be unexpected. Instead, you can take control of your premiums by looking into these five cost-saving measures.

4 Ways To Save Money On Your Calgary Home Insurance

Save More by Bundling Your Calgary Home Insurance

You can usually reduce your premiums when you take out multiple policies with the same Calgary insurance company. This means that you use the same company for your homeowners insurance, auto insurance and more. The more policies you bundle, the more you can probably save.

You Can Reduce Premiums by Raising Your Deductible

The second way to get your premiums in check is to change the nature of your policy. In most cases, you can pay less each month when you raise your deductible. Some people like the peace of mind of a lower deductible, but it comes at a cost. If you want to save money now, look into upping your deductible instead.

Control Your Insurance Costs by Improving Your Home and Upping your Security

The next two tips to save on home insurance in Calgary are related. The more secure your home is, the less risky it is to your provider. Therefore, when you invest in certain home upgrades, you may get an insurance break. Similarly, if you install a security system, then you may be eligible for further cost reductions. Sometimes spending more on your home means you’ll be getting back more in the long-term.

Manage Your Premiums by Shopping Around

The last way to make sure your premiums are low is to shop around. There are options for a Calgary insurance company. Check out all the prices, and pick the one that works for you.

When should people hire a Calgary insurance broker? You have a few times where the best savings will come from choosing an insurance broker over a traditional company. A broker makes sense when you want to save money because insurance brokers work for your best interests.

Want More Choices?

With the direct writing insurance companies, you only receive a single policy to choose from at one price. A broker will match up your insurance needs with the right coverage and cost via several companies to identify the best one. You have plenty of options and choices. No customer is the same, and you either want the all-inclusive package or the bare bones minimum. That’s when going with an insurance company broker makes the most sense

Companies Can Be Selective

Few people realize how particular an insurance company can be with coverage. That’s because as a business, they want to turn a profit. For that reason, policies they see as “too risky” will be dropped. Meanwhile, other companies may feel differently and offer what you want.

You Want the Best Deal

When seeking a life insurance policy, you want to look at the discounts offered. Every company chooses to roll out the discounts in different ways. While one company caps a maximum limit on the discounts for a policy, others will push out a long list of discounts that customers can take advantage of. The average customer has a foggy understanding of this, and when you want the best deal, a broker will have a better awareness of the differences between policies. They will listen to your needs and offer a plan based on it.

Brokers have the best awareness of different companies and what can benefit you the most. A good broker will always prioritize your best interests and put you first.

Lakeview Insurance Brokers Ltd. has been a highly dedicated member of the Independent Brokers Association of Albert and has been family-run since 1979. Our brokers take the time to ensure you get the best policy that suits your needs. Contact us today to get started at 403-287-2521 or send an email to [email protected].