Insurance Broker in Deer Lake

Finding a quality insurance broker in Deer Lake, Newfoundland just got easier! At BrokerLink, we know the ins and outs of Newfoundland car insurance and Newfoundland home insurance. When you enlist our help, you can rest easy knowing that the BrokerLink team has got you covered.

A Newfoundland and Labrador insurance broker just for you

BrokerLink Deer Lake doesn’t believe in one-size-fits-all insurance. Instead, we believe that insurance coverage should be as unique as each of our customers. That is why we take the time to get to know our customers before shopping around for coverage on their behalf. When it comes to tailor-made insurance coverage in Deer Lake, look no further than BrokerLink. Below is a list of some of our top insurance specialties, including business insurance, home insurance, and auto insurance:

Business insurance

Newfoundland and Labrador businesses need insurance coverage that protects them from risk. After all, businesses and business owners face all kinds of risks, from property damage and theft to liability claims, and much more. BrokerLink has a team of commercial insurance experts who can help you find coverage that protects against the main risks your business faces. We have worked with businesses of all sizes across all industries in Newfoundland and Labrador. Whether you operate a small retail store in Deer Lake or a booming tourism business, the BrokerLink team can help. For instance, we can advise you on the best deductibles, coverage limits, and types of coverage to include with your policy. Beyond the standard commercial property insurance and commercial general liability insurance that most businesses purchase, a BrokerLink insurance advisor can recommend other types of coverage to suit your needs, like cyber insurance, crime insurance, business interruption insurance, professional liability insurance, and more. To start protecting your Deer Lake business, contact BrokerLink today.

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Home insurance

Home insurance is important for many Deer Lake residents. Whether you own your home or rent it, home insurance offers financial protection in the event that something goes wrong. For example, the dwelling coverage portion of a home insurance policy can protect your physical home from damage caused by all kinds of perils like fire, lightning, theft, and more. Meanwhile, personal liability coverage will protect you from third party claims alleging property damage or bodily injury. Extra coverages like home business insurance or overland water insurance can protect you from losses relating to the business use of your home or flooding, respectively. As you can see, home insurance in Deer Lake is extensive, and BrokerLink can help you find the best possible coverage for your property. A licenced home insurance specialist can also provide home protection tips or let you in on some of the industry’s best-kept secrets for saving money, like taking advantage of home insurance tax deductibles. Get in touch with BrokerLink to learn more about what we can do for you and your Deer Lake home.

Get a home insurance quote

Auto insurance

BrokerLink is also pleased to help Deer Lake residents find tailor-made car insurance coverage. We understand the nuances of Newfoundland and Labrador auto insurance, including which types of coverage are mandatory. We can explain everything from third party liability coverage to direct compensation - property damage coverage, as well as help you decide if additional insurance like comprehensive or collision coverage is right for you. Beyond finding you great car insurance at an affordable rate, a BrokerLink auto insurance specialist in Deer Lake can also help you with tasks like renewing car insurance, updating your existing policy, or adding an additional driver to your policy. Get in touch for a complete list of BrokerLink’s Deer Lake car insurance services.

Get an auto insurance quote

Additional insurance services for Deer Lake customers

The BrokerLink team is pleased to help Deer Lake customers find several other types of insurance, including:

Boat Insurance
Condo Insurance
Vacation Property and Cottage Insurance
Tenant and Renters Insurance
Life Insurance Broker
Landlord Insurance
Musical Instrument Insurance
Wine Cellar Insurance
Umbrella Liability Insurance
Equine Insurance
Pet Insurance
Group Insurance
Associations
ATV and Snowmobile Insurance
Farm Insurance
Cyber Insurance
Storage Unit Insurance
Wedding Insurance
Tractor Insurance
Employee Benefits
Travel and Trip Cancellation Insurance
Trailer and RV Insurance
Motorcycle Insurance
Identify Theft Insurance

Want to enquire about another type of insurance? Reach out to BrokerLink Deer Lake today and we would be happy to assist you!

How to get cheap insurance premiums Deer Lake

No one likes to overpay for insurance. BrokerLink has experience serving customers with a wide range of budgets, and we want to make sure that insurance is accessible even to those on tight budgets. That is why our advisors always have a range of money-saving tips they are happy to share with our customers. Below, the experts at BrokerLink Deer Lake have compiled a list of ways that you can save money on everything from auto insurance to home insurance and pet insurance:

Inquire about insurance bundles that may be available to you.

Bundling two or more insurance products (e.g. home insurance + car insurance or commercial insurance + tenant insurance) could save you between 15% and 20% per plan.

Raise your deductible

If it’s feasible and within your budget, ask an insurance broker about raising your policy deductible, which would lower your premium.

Pay annually for your policy

Before deciding between a monthly and a yearly payment plan for your insurance policy, make sure that you ask your provider about any relevant fees. Some insurers charge extra for monthly payment plans.

Review your policy

Review your policy before renewing it, or ask a broker to review it for you. Coverage needs change, as do insurance premiums. Think critically about whether your current policy is still working for you. If it is, consider ways you could update it that might save you money, like reducing coverage limits or increasing deductibles.

Purchase an electric vehicle

Save the environment while saving on car insurance by purchasing a hybrid or electric car instead of a gas-powered vehicle.

Take a driving course

Graduate from an approved driving course in Newfoundland and Labrador and you could qualify for a car insurance discount (this could make a big difference for young drivers who often pay the highest premiums).

Install a security system

Consider installing a security system in your home, office, or car, such as an anti-theft in your car or a monitored alarm system in your home or workplace.

Install winter tires on your vehicles

Make driving in the winter in Newfoundland safer while also saving money on car insurance by installing snow tires on your vehicle. Many insurers offer winter tire auto insurance discounts to policyholders.

Keep a clean driving record

Obey the rules of the road at all times and you could end up with a clean driving record that results in lower auto insurance premiums. Contact BrokerLink for more safe driving tips.

Some insurers offer telematics discounts to drivers with stellar driving records. All you have to do is install a telematics device in your vehicle or download a similar mobile application on your smartphone.

Install a sewer backup prevention device

Mitigate the effects of a sewer backup and save money on property insurance by installing a sewer backup prevention device somewhere on your property. Install a sump pump in your basement with a battery backup to avoid flood damage.

Carefully purchase your real estate

Avoid buying a home with a pool, an old roof, or outdated plumbing, electrical, or heating systems, as all of these factors could increase your property insurance rates in Newfoundland and Labrador.

Purchase a home near emergency services

Buy a home that is located near a fire station or fire hydrant to receive a discount on your home insurance coverage.

Mortgage-free home insurance discounts

If you bought your home without a mortgage or recently paid off a past mortgage, notify your insurance broker as you could be eligible for a mortgage-free home insurance discount.

Implement a risk management plan for your business

Research business risk management plans and consider implementing one to reduce risk and save money on commercial insurance.

Get started with a Deer Lake insurance broker by following these steps

Do you want to get started with a Deer Lake insurance broker but don’t know where to begin? We’ve put together this easy, three-step guide to make your insurance brokerage experience that much smoother. We think you will be pleased to learn just how simple enlisting the help of an insurance broker is. From contacting your local insurance office to letting your dedicated advisor take care of everything, keep reading to discover how you can start working with a BrokerLink insurance advisor in Deer Lake today:

1. Reach out to your local BrokerLink office

Step number one is to reach out to your local BrokerLink insurance office. With over 200 locations across Canada, we bet that you can find one nearby. If there isn’t one close to you or you prefer the convenience of buying insurance from home, you can also contact us online or over the phone. No matter where in Newfoundland and Labrador you live, we want to help.

2. Discuss your insurance needs with an advisor

The next step is when you discuss your insurance needs with a licenced and dedicated Deer Lake insurance broker. Your broker will ask insightful questions that help them understand you and your needs. From there, they will contact representatives from insurance companies across Canada to obtain quotes and compare policies, all so that they can find an affordable policy tailored to your needs. All the while you can wait comfortably in their office or in your own home.

3. Choose a policy that meets your needs and walk away happy

The last step in this process is when you choose a policy that best meets your needs. Your insurance broker will present several options to you, based on their research. They will explain what coverage is included in each and what you can expect each to cost. This will allow you to make an informed decision as to the right policy for your needs. All that’s left to do is select your favourite and your broker will walk you through the process of buying your policy. That’s it! You walk away happy and covered.

We’re in your community

BrokerLink is not just an insurance brokerage, we are part of the Deer Lake community. We show our dedication to the community through the many local initiatives we support. Get in touch with BrokerLink Deer Lake today to learn more about our community involvement and the comprehensive insurance services we offer our Deer Lake customers.

Contact us

At Deer Lake BrokerLink, we’re here to help you with any insurance needs you may have. Whether it’s insuring your home, car, business, travel plans, recreational items, or pets, let us help you find the best coverage possible.

You can reach us by phone, email, or in person at any one of our locations throughout Newfoundland and Labrador. No matter how you choose to get in touch, a BrokerLink insurance advisor will be happy to assist you. We also encourage you to take advantage of our free online quote tool that can provide you with a competitive quote in minutes.

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Deer Lake insurance FAQs

What is the difference between a Deer Lake insurance broker and a Deer Lake insurance agent?

Let’s clear up a common misconception: that insurance brokers and insurance agents are the same. While they are both licenced insurance professionals, the two professions are different. Insurance agents work for insurance companies and have specialized knowledge about the insurance products sold by the specific company they work for. Meanwhile, insurance brokers work for brokerages, which serve as the middleman between customers and insurance companies. Brokers do not work for insurance companies, which allows them to put their customers’ needs above all else and offer unbiased, objective advice on the best insurance for you.

How can I buy insurance from an insurance broker?

There are multiple ways to purchase insurance through an insurance broker. Whether you are looking to buy home insurance, auto insurance, commercial insurance, or even pet insurance, you can do so through the method of your choosing. The most common ways of purchasing insurance through a broker are online, via the insurance broker’s website, over the phone, or in person at your local insurance broker’s office. Each of these options is safe and easy.

How do I know what coverage is right for me?

To determine what coverage is right for you, we suggest working with an insurance broker who can help you identify your coverage needs. A broker will ask about your budget, personal preferences, and the unique risks you face to get a sense of which coverage is right for you. From there, they will reach out to Canada’s top insurance companies to obtain quotes and find coverage that is tailored to you. Ultimately, the right coverage for one person will be different from another. Therefore, it’s important to take the time to assess your circumstances and do some research to determine which coverage options make the most sense for you.

How do I renew my insurance policy?

Renewing an insurance policy is easy. In fact, some policies may renew automatically upon expiry. Typically, insurance companies give you the option of allowing your coverage to automatically renew at the end of the term. That said, before you select this option, we recommend reviewing your coverage. Why? Coverage needs change as do premiums. Insurers are constantly underwriting behind the scenes, which means the price you paid for your policy a year ago may not be the same for the year ahead. If you aren’t sure how to review your policy or what to look for, we recommend consulting with an insurance broker. An insurance broker can review your current coverage and make sure it still aligns with your needs. In addition, they can obtain quotes from other insurance providers to check if you are getting the best deal on your policy. From there, they can make a recommendation as to whether it’s worth renewing your existing policy or cancelling it at the end of the term and purchasing coverage with a different provider.

Do I need insurance in Deer Lake?

Insurance offers many benefits to policyholders. Even if you aren’t required to buy insurance, purchasing coverage can give you peace of mind knowing that if something goes wrong, you’re protected. Otherwise, one lawsuit or incidence of property damage could have serious and long-term financial consequences. If you aren’t sure whether insurance is right for you, contact an insurance broker. They can discuss the advantages of purchasing a policy and provide you with a free quote to give you an idea of how much insurance will cost you. Depending on your circumstances, they can also inform you of whether insurance is required, such as if you bought a home with a mortgage and your mortgage contract stipulates that you need a valid home insurance policy for the duration of your loan.

How do I save money on insurance in Deer Lake?

You can save money on insurance in Deer Lake by asking an insurance broker for advice. Brokers have years of experience helping customers save money on all kinds of insurance coverage. All you have to do is ask for their help. They can offer you expert tips on how to save on specific types of insurance, like installing winter tires on your car, equipping your home with a monitored alarm system, and enrolling in a defensive driving course, or explain general ways of saving like bundling insurance policies.

Is car insurance mandatory in Newfoundland and Labrador?

Yes, if you drive a car in Newfoundland and Labrador, car insurance is mandatory. Auto insurance is mandatory in every Canadian province or territory. In Newfoundland and Labrador specifically, drivers must purchase car insurance policies that meet the province’s minimum coverage requirements. This means no less than $200,000 in third party liability coverage, as well as direct compensation - property damage coverage and uninsured and unidentified automobile coverage. Driving without auto insurance can have serious consequences, such as fines of up to $4,000 for a first offence and $5,000 for a second offence, the suspension of your driver’s licence for up to 90 days, and your vehicle being impounded for three months.

If you have any questions, contact one of our local branches.