Disclosure
We appreciate your business. As your Independent Insurance Broker, we purchase insurance products and services on your behalf that are available, affordable and understandable.
Our role is to provide you with the best insurance value that combines coverage, service and price. We also provide personalized, quality service that includes professional insurance advice, ongoing policy maintenance and claims support. When any issue arises regarding your insurance coverage, we are your advocate, using our professional experience to best represent your individual interest.
Brokerage compensation is part of your insurance premium. For your benefit, we have listed below both the Personal Automobile and Personal Property Insurers that we represent and have included the range of compensation each provides as a percentage of your overall premium:
| COMPANY |
AUTOMOBILE |
PROPERTY |
| ACE INA Insurance Company |
12.5% |
20% |
| AVIVA Insurance Company |
10% - 12.5% |
20% |
| AVIVA Elite Ins. |
10% - 12.5% |
20% |
| AVIVA Pilot Ins. |
10% - 12.5% |
20% |
| AXA Insurance Company |
10% - 12.5% |
20% |
| Chartis Insurance Company |
10% - 12.5% |
20% |
| Chieftain Insurance Company |
10% - 12.5% |
20% |
| Chubb Insurance Company |
10% |
20% |
| Coachman Insurance Company |
10% - 12.5% |
20% |
| Dominion of Canada General Insurance |
10% - 12.5% |
20% |
| Echelon Insurance Company |
10%-12.5% |
20% |
| Economical Insurance Company |
10%-12.5% |
20% |
| INTACT Insurance Company |
10%-12.5% |
20% |
| Jevco Insurance Company |
10%-12.5% |
20% |
| Kingsway General Insurance Company |
10% |
20% |
| Optimum Insurance Company |
10% - 12.5% |
20% |
| PAFCO Insurance Company |
10% - 12.5% |
20% |
| Perth Insurance Company |
10% - 12.5% |
20% |
| RSA Insurance Company |
10% - 12.5% |
20% |
| Sovereign General Ins. Co. |
7.5% - 12.5% |
20% |
| Travelers - St. Paul Fire & Marine |
10% - 12.5% |
20% |
| Traders Insurance |
10% - 12.5% |
20% |
| Waterloo Insurance |
10% - 12.5% |
20% |
| Wawanesa Mutal Insurance Company |
10% - 12.5% |
20% |
| York Fire Insurance Co. |
10% - 12.5% |
20% |
| Zurich Insurance Company |
10% - 12.5% |
20% |
This commission percentage is paid annually for both new business and renewals. Should there be an increase in the commission schedule we receive from your insurer or any other material change that affects compensation arrangements, we will notify you.
In order for us to maintain strong relationships with quality Insurers, we work with each to provide the type of business they desire. The Insurers with an asterisk noted above recognize our efforts through a Contingent (Profit) Commission contract. Payment of this Contingent (Profit) Commission may depend on a combination of growth, profitability (loss ratio), volume, retention and increased services we provide on behalf of the Insurer. Contingent (Profit) Commission is not guaranteed. For detailed information on Contingent Commission, please go the individual Insurance Company website.
Financial links that could be considered a conflict of interest:
NONE - Sound Insurance is completely independent and working for you.
If you have any questions regarding this or any other aspects of your insurance please contact us.