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Auto insurance terms explained

Insurance broker

For explanations of policy coverages please go to our What is covered by auto insurance section

Insurance policy terms and conditions are as stated in the actual insurance policy wordings. Nothing stated herein is intended to modify any part of an insurance policy. If you have a specific question of significance to your situation contact your insurance advisor.

The term insurance broker can mean two things.

First, it can mean a firm which has contracts with several insurers allowing its staff to sell insurance products/services for those insurers. This firm must, by law, be licensed under the Registered Insurance Brokers Act. For more information about the Registered Insurance Broker's Act visit the RIBO web site at

Second, the term insurance broker can mean the staff in the firm described above who are also licensed by RIBO and who must meet certain insurance knowledge standards and conduct themselves in a professional manner in all dealings with the public. Anyone working in a broker's office who advises the public on auto insurance must be licensed by RIBO.

In practice, an insurance broker is your representative and ought to be working on your behalf to get you the best price and the proper coverage to suit your needs.

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