How To Choose the Best Insurance Provider For Your Needs

In Canada, you have a lot of options when it comes to buying insurance –and that’s a good thing. But with so many providers to choose from, how do you know which one is best?  The reality is, there’s no single “best” insurer out there. The right one depends on your needs, lifestyle, and what you value most in your coverage.   

To help find your best match, you need to know two things: a realistic price range for the type of insurance you’re shopping for and which features or offerings matter most to you. After all, the cheapest price doesn’t always mean the best experience or coverage.  In this article, we’ll walk you through a quick, five-minute activity to help narrow down your options and choose the best insurance provider that fits your needs.

Key takeaways

Here are the steps to find the insurance provider that best fits your budget, lifestyle, and coverage needs: 

1. Identify a realistic price range
2. Identify the features that matter to you 
3. Choose your top five features
4. Put them in order of importance
5. Compare quotes in a table

Step 1: Identify a realistic price range

Premiums can vary widely by location, so it’s helpful to know what’s considered a normal price range in your area.  Start by checking the average cost for the type of insurance you’re looking for. YouSet’s insurance calculators are great for this, as you can check the average prices for home, auto, tenant, and condo insurance in your city. 

Once you have an idea of the price others in your area are paying, it’s a good time to start shopping around. Just make sure each quote you get includes the same coverage types, limits, and deductibles for the most accurate comparison.

Also, since manually comparing quotes can take a lot of time, you can always use YouSet, where you can compare quotes from multiple insurers, all in the same place, in 4 minutes or less.  After reviewing your options, note the highest and lowest quotes. Now, you’ll have a realistic sense of what you can expect to pay, helping you set your expectations.   

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Step 2: Identify what features matter to you

Price is usually the first thing people compare, but it isn’t the only one that matters. The features and services that come with your policy can make a big difference in how easy (or stressful) it is to manage, so it’s important to consider them alongside price.  “The best insurance provider is the one that fits your needs, lifestyle, and preferences,” says Channelle Cote, an AMF and RIBO-licensed insurance broker at YouSet. Here are some key features to consider when choosing your provider. Note the ones that matter a lot to you versus the ones that don’t. 

• Multiple insurers : Providers that provide quotes from a variety of insurers mean more options in one place and less time searching. 
• Tech-savvy options : Providers that offer online accounts for customers, mobile apps, or real-time notifications make managing insurance easier.
• Self-service features : Providers that allow you to manage policies, make payments, or update details online without needing to call.
• Online checkout : Providers that let you finalize your details and enter payment information without needing to talk to a salesperson, if you don’t want to. 
• Broker assistance : Providers that are licensed insurance brokers can explain your options, offer personalized recommendations, and even provide additional support if you have to file a claim. 
• Automatic renewal reshopping : Providers that automatically reshop to find you a better price if your premium increases at renewal, so you don’t have to. 
• Variety of discounts : Providers that offer a variety of discounts so you get cheaper home and car insurance. 
• Multiple contact options : Providers that can be contacted via phone, email, live chat, text, or app messaging, depending on your needs and preferences. 
• Availability of a real person : Providers that have friendly and responsive customer service staff when you need support. 
• Customization options : Providers that make it easy to customize your policy with a variety of deductibles, coverage limits, and optional coverage add-ons. 
• Ability to bundle : Providers that allow you to bundle multiple insurance policies (ex. home and car) for added convenience and discounts. 
• Reputation and trustworthiness : Providers that have strong industry ratings and positive online reviews. 
• Extended hours : Providers that have customer support available outside of standard business hours, including weekends, evenings, and holidays. 
• In-person service : Providers that have local offices for face-to-face appointments or support.
• Flexible payment options : Providers that have a variety of payment types and schedules to choose from to fit your budget and lifestyle. 
• Loyalty perks : Providers that offer extra benefits or rewards for long-term clients.

Step 3: Choose your top five

Once you’ve reviewed all the possible features an insurance provider can offer, narrow them down to your top five must-haves. These are things that would make your experience much easier or give you peace of mind. For example, if you don’t like making phone calls, then you likely want a provider who offers self-serve features and online checkout.   

Step 4: Put them in order of importance

Once you’ve chosen your top five features, rank them from most to least important. This will help guide your final decision when comparing insurers side-by-side.   

Step 5: Compare quotes based on price and features

Now it’s time to put everything together. Pull up the quotes you collected in Step 1 and compare them against the features that matter most to you. If it’s helpful, copy and paste the comparison table below into a document to organize your findings. 

	YouSet	Provider B	Provider C
Price
Feature #1
Feature #2
Feature #3
Feature #4
Feature #5

List each provider you’re considering in the top row, then record the quoted price from each one underneath. In the first column, list your five top features in order of importance, and mark an “X” where each provider offers that feature. Below you’ll see an example of this table filled in.

	YouSet	Provider B	Provider C
Price	$12	$14	$11
Online checkout	X		X
Self-service features	X	X
Multiple insurers	X	X
Broker assistance	X	X
Automatic renewal reshopping	X

This quick visual makes it much easier to spot the provider that offers the best balance of price and value for your situation. Weigh the trade-offs–you might notice that one insurer costs a bit more, but offers features that save time, stress, or money in the long run.