I hear this question all the time and the answer is “maybe”.  I know that doesn’t sound like a great reply, but it is the truth.  Car insurance is especially tricky in the province of Ontario, as rates can change with the same insurance company a couple of times a year.  I think it is very important to ensure you are getting good “Value” for your insurance dollars, and this means dealing with a broker that has a process to “shop” your policies to ensure you are getting a competitive premium.  Some brokers will do this every 2 years, some every 3 years…and some will never do it.  If you’ve been with the same insurance company for more than 5 years, and your broker has never discussed another option with you…then you are probably paying too much. Value in insurance comes in many ways: 1) You first need the policy that will adequately protect you.  It doesn’t matter if its cheap…if you don’t have the proper coverage.  We see this with many home policies in the market.