What is a Registered Insurance Broker? A registered insurance broker is an independent insurance professional who can sell the products from a variety of insurance companies. Registered brokers work on your behalf and have no allegiance to any one insurance company. In Ontario, all insurance brokers are governed by the Registered Insurance Brokers Act and they must meet the standards of professionalism established by the Registered Insurance Brokers of Ontario (RIBO) (for more information on RIBO www.ribo.com). Why have Insurance Premiums Increased? Insurance premiums have been increasing over the last year due to the increase in the number of claims and the cost of paying these claims. Insurance companies use the premiums they collect to pay for insurance claims. The collected money is saved in a reserve, ready to pay for insured losses. The rising cost for repairs, medical and rehabilitative claims, increases in insurance fraud and natural disasters (ex: ice storms) have quickly drained this reserve. Insurance companies must replenish this reserve every year. What are the Insurance Companies doing to control these costs? Raising premiums is never the first option. The insurance industry has taken a leadership role in a number of initiatives and programs to help keep the cost of insurance to a minimum. This includes: Promoting legislation to control insurance costs. Implementing an initiative to reduce auto theft. Funding and supporting the Investigative Services Division of the Insurance Bureau of Canada and the Canadian Coalition Against Insurance Fraud. Creating an Internal Investigation Unit to review suspicious claims. Funding programs that promote road safety. What can you do to help control your Insurance Premiums? Automobile 1. Consider raising your deductible - Your Dieppe Broker can provide you with expected savings. 2. Drop Collision Coverage on an older vehicle. 3. Take advantage of the discounts companies offer when you insure both your Home and Vehicles with them. 4. Install an approved Anti-Theft Device - Discuss your options with your Dieppe Broker. 5. Choose a vehicle with a lower-cost insurance rating - Your Dieppe Broker has this information available to you. Home 1. Raise your deductibles. Your Dieppe Broker can provide you with the expected savings. 2. Install a monitored burglar alarm and sprinkler system. 3. Keep your home well kept and maintained. home - company - services - quoting - tool kit - f.y.i. - links - contact - privacy © Copyright 2002-. Dieppe Insurance Brokers Ltd. All rights reserved.