Francis Grisé-Blanchette

Purchasing a New Insurance Policy: Some Questions to Ask Yourself

If your insurance premium goes up, don’t hesitate to look at the other options available to you. To do so, you just need to be well prepared! Here are 8 questions to ask yourself when purchasing insurance, so as to help you to become an informed consumer.

1. Have I spoken to a broker or an agent?

Did you know that brokers and agents are professionally accredited? As such, they have extensive knowledge about insurance products in various industries. They will therefore be able to suggest coverage that is adapted to your needs. The difference between the two is that agents provide you with insurance products for the company for which they work, while brokers advise you about products from different insurers. As it is not always clear what is best for us, working with an insurance professional is an interesting option. Moreover, a relationship of trust with an insurance sales representative is important in order to receive personalized customer service!

2. What value-added services can be added to an insurance policy?

Do you want more? No problem! Some insurance companies offer value-added services that can be added to the policy. Here are some examples:

  • First or second claim forgiveness for auto insurance
  • Roadside assistance
  • Legal services insurance
  • Replacement value with no obligation to rebuild

3. Have I been told about the claims process?

Do you need to make a claim with your insurer? Our team of claims adjusters will quickly handle your claim to make your life easier. They establish a claim strategy with you and diligently follow up with insurance companies with the goal of obtaining a fair settlement within a reasonable period of time. They also work directly with your broker so that you remain informed and involved in the claims process.

4. Does my new insurance company want to carry out a building inspection?

A building inspection often leads to additional costs for the client. The inspector may make recommendations with regard to the building, particularly in relation to the railings, roof, pool, heating system, electricity, and plumbing. These recommendations must be implemented within the period specified, based on their importance. Make sure to follow through with the recommendations and meet the deadlines, since it can affect your next insurance premiums.

 5. have i declared all circumstances that could affect my insurance?

A number of things can affect your insurance, which is why your insurer needs to be made aware of them. You must declare all home and auto claims made in the past 5 years. Among other things, you are required to inform your insurer of bankruptcies, driver’s licence suspensions, Criminal Code convictions, as well as any refusals or cancellations by an insurance company. To protect themselves, some insurers include a clause in their contracts that allows them to refuse a claim if they discover that certain information was not divulged.

6. Am I benefiting from all possible discounts?

Ask your representative if you are entitled to a discount for your profession or a graduate discount. Moreover, maintaining and renovating your property could have a positive impact on your insurance premium, particularly if you replaced your roof, water heater, or electrical panel. In addition, if your home has a connected alarm system for fire and theft, a water detection device, a check valve, or a submersible pump, discounts may be available. You may also benefit from interesting discounts if your home and auto insurance is provided by the same insurance company or if you have more than one vehicle with the same company.

7. Do I need to switch insurance companies to obtain a better price?

Before a change of insurance companies, there are several options to consider in order to reduce your insurance premium. First, speak to your representative to update your file. Your representative will ensure that the pricing is consistent with your current situation. If that does not help the matter, your broker will assess your needs again and help you find a product that is better suited to your new circumstances. You can also always increase the policy deductible.

8. Am I developing a relationship of trust?

Insurance is all about trust. To offer you coverage adapted to your needs, your broker needs to know you well. As such, your broker must ask you questions that are sometimes about confidential subjects such as your criminal record or your financial history. That is why it is important to develop a relationship of trust with your representative. In other words, your Lareau broker becomes your right hand for insurance!


The Chambre de l’assurance de dommages (ChAD) has indicated that “one out of four people does not have peace of mind once insured.” As such, we recommend that you contact your insurance broker to discuss the solutions available to you before shopping around for your insurance policy.

At Lareau, we care about your needs and we will be by your side before, during, and after.

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Francis Grisé-Blanchette Personal-Lines Director
Damage Insurance Broker
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