As a customer of Cheep Insurance, we think you should know how we get paid. We are a licensed insurance brokerage offering insurance products from different insurance companies. These companies pay us a commission based off your insurance premium. To be transparent, here are the insurers that we represent and the range of compensation each provides as a percentage of your overall premiums.

Automobile Insurers – Overall Premium Compensation:

• Aviva – 10%-12.5%
• Definity – 10%-12.5%
• Echelon – 12.5%-15%
• Economical – 10%-12.5%
• Facility Association – 6%-11% (capped at $370 per vehicle in Ontario)
• Hagerty – 12.5%
• Heartland Mutual – 10-12.5%
• Intact – 10-12.5%
• Nordic – 6%-11% (capped at $370 per vehicle in Ontario)
• Pafco – 12.5%
• Pembridge – 12.5%
• Scottish & York – 10%-12.5%
• Kings Mutual – 10-12.5%
• Travelers – 12.5%
• Wawanesa – 7.5%-12.5%

Property Insurers – Overall Premium Compensation:

• Anderson McTague & Associates – 10%-15%
• Agile – 15%
• Aviva – 20%
• Burns & Wilcox – 12.5%-17.5%
• Definity – 20%
• Economical – 20%
• Heartland Mutual – 20%
• Intact – 20%
• Pembridge – 20%
• Kings Mutual – 20%
• Travelers – 20%
• Wawanesa – 20%

This commission is paid on all policy transactions, including but not limited to: new business, endorsements, renewals, and cancellations.

Some insurers may also pay us a Contingent (Profit) Commission, which depends on a combination of growth, profitability (loss ratio), volume, retention, and increased services. This is not guaranteed.

We are disclosing this to you because we think it is important for you to know how we are compensated.