Is BrokerLink MAXIMIZING COMMISSIONS and PROFITS at the expense of the policyholder?I am writing to express 2 concerns.1. PENALTIES that occur when trying to receive a better deal on car insurance.2. NON-COMPLIANCE with the Insurance Brokers of Ontario (RIBO) which state that a broker must act with "honesty and integrity" and provide the "best value" to the client"An increase of $150 dollars a month for car insurance.I expected BrokerLink to proactively source competitive rates that reflect my low-risk profile prior to my yearly renewal.I continue to drive my 2015 vehicle which I only paid $23,000 with tax. I have not had even a fender bender in more than 13 yrs, I have no tickets, no other person on my policy, and I am between the ages of 50 and 60yrs of age. My deductible is $1000 dollars, I have not moved out of my safe neighborhood and despite a minimal commute of 40km per week, my premium has increased to $392 dollars per month.I was surprised to see my premiums have increased approximately $150 per month within a 24-month period.While the representative I spoke with was professional and courteous, he was unable to provide any detailed explanation of the factors driving the increased adjustment.Unnecessary penalties due to Brokers failure in dutyDuring my conversation with the representative, it was disclosed that my monthly premium could be reduced from 392.00 to 305.00 per month; however, this reduction was made contingent upon a payment of 784 dollars!!!!!!!How is that acceptable?This suggests that a lower premium was available prior to my renewal, yet was not proactively offered.As a low-risk policyholder, I expect my broker to secure the most favorable terms as part of their standard DUE DILIGENCE.I guess my broker did not act with "honesty and integrity" to provide me with the best policy.Lessons LearnedThrough this unfortunate experience, I have learned the importance of personal advocacy.While a broker has a FIDUCIARY DUTY to provide the best market rates, I've realized that I should initiate a manual policy review at least 30 days before my policy is up for renewalI hope my experience helps other policyholders. After 15 yrs with the same brokerage, I learned that loyalty does not always equal proactive services.Please hit the thumbs up if agree to my initial statementIs BrokerLink MAXIMIZING COMMISSIONS and PROFITS at the expense of the policyholder?
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