For instance if i only use the most basic insurance for my car, would it be wise to just shop around and get whatever the banks have to offer - or would using a auto insurance broker save me more ?

I have always wondered and am asking as i dont know, How does the auto insruance broker get paid and from whom ?

Can the insurance broker get even cheaper rates than what bank quotes give you online ? Is it worth it to do yourself if you have a clean record - or is it advisable to have a broker instead to work out a deal with the insurance company.

If the motive is to get the best rates to save some $$ and get the options one need - what is the way to go ? Broker or the insrance service provider website ?

Once again, thank you all for your help for all the other posts that i have placed as well and for this one in advance. I must say - its a lot of learning for someone like me who is new to the city and has a limited social network who can help me for answers to such questions

Unlike for mortgage you should shop around for Auto insurance as much as you can . It does not harm you in anyway . It all depends who can give you better quotes ( in my case TD was best till last year and now I have switched to a broker ) .
IMHO it is not a good idea to change your insurance co ever year for few bucks though .

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Originally posted by AshwaniG

Unlike for mortgage you should shop around for Auto insurance as much as you can . It does not harm you in anyway . It all depends who can give you better quotes ( in my case TD was best till last year and now I have switched to a broker ) .
IMHO it is not a good idea to change your insurance co ever year for few bucks though .

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