I don’t think I have ever read an entire Budget. It’s all online now so I can’t even tell you how many pages it is, but there’s a lot of waxing on about “the people” in every budget, regardless of the government. We did read the insurance section in this year’s budget. It’s pretty good.
Putting Driver’s First is the new slogan of the Ontario government for insurance and we have to say, its pretty good marketing. It’s like: Attention all Liquid Drinkers. They are capturing everyone, at least everyone that drives and votes. But, they do have our attention.
The Ministry of Finance asked the people of Ontario what they thought about insurance. 51,000 responded, which is pretty good. Although with a population of 14,320,000 it’s about .3%. Here’s what the people who responded said:
- Insurance providers should have more electronic tools available like the banks
- Shopping and buying for insurance is frustrating and difficult
- It’s difficult to tailor your insurance needs
- Insurance policies are complicated and difficult to understand
I think they forgot that insurance is expensive too!
Insurance providers should have more electronic tools available like the banks
As insurance brokers, we want to help with all of these issues. We are launching MyMcDougall in the Summer of 2019 to help address some of these issues. We will have insurance tools to allow you 24 hour access, 7 days per week, just like the banks to the following:
- Electronic Payment schedule
- Electronic Policy documents
- Liability card
Shopping and buying insurance is difficult
Insurance policies are difficult to understand. We have one solution for this:
- Real People Working for You since 1946
We believe in technology to make the process simpler, but with insurance you really need to talk to someone, either over the phone or ideally in person. We now have 33 offices in 33 communities to serve you better. Call us, fax us, email us, come into the office, whatever works for you. Real People Working for You is our slogan and it’s genuine. If you have a claim, believe me, you will want to call a real person and say “OK, you sold me this policy, what do I do now?” That’s when we really shine.
It’s difficult to tailor your insurance needs
We are still waiting to see what the Ontario government has for a solution on this. As brokers, we can customize your insurance, adding coverage that is of value and removing coverage that is not valuable, but there are limitations. The government mandates that certain coverage be present on all auto policies. And some things you don’t think you need, you don’t, until you have an accident. The best bet is to call an insurance broker with access to lots of insurance companies and get some advice. Ask questions, challenge your broker and get the best solution for you. And, let them know when your needs change, so they can tailor your insurance needs.
Insurance policies are complicated and difficult to understand
This is absolutely 100% true. The internet is a great source of information, but you get what you pay for. We would not suggest that you get your advice from an insurance forum. Would you ask your accountant for legal advice? Find an insurance person who is a professional and get some good advice. When water starts pouring into your basement or you get rear ended at the stop light, call that same person who sold you the insurance to make sure the policy they sold you, delivers on the promise.
The government is working to achieve these changes. This is easier said then done but with the help of insurance companies and brokers the car insurance product in Ontario can benefit. We want to make life as easy as possible for our clients while also making sure they have adequate knowledge and protection.