Disclosure Statement
Thank you for being a Goodrates Insurance, a division of BrokerTeam Insurance Solutions Inc. client. The Goodrates Insurance team works for you and will always put your interests first. We find and compare policies across our network of insurance companies to find the right coverage and price for you. Brokerage compensation is included in your annual insurance premium with the rates indicated below for your reference.
Commission
In new and renewal policies we receive 5-12.5% of premium for auto insurance and 12.5-20% of premium for property insurance. Should there be any increase in the commissions we receive, or any other material change in how we are compensated, we will notify you directly.
Contingent Commission
In order to continue our long term business relationships with the our insurance partners, we aim to place insurance risks that are suitable to their respective appetites. These insurers may in turn recognize the success of this process, through contingent commissions, or “profit sharing”. This profit sharing is calculated annually does not attach to any individual policy and is paid to us only if our overall portfolio produces a profitable result to the insurer. For more information, please go to the individual insurance company’s website. Should there be any increase in the commissions we receive for your insurance policies, or any other material change in how we are compensated, we will notify you directly.
Please let us know at info@goodrates.ca if you have any comments or questions.