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Insurance Isn’t Boring With Morgan Roberts

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Although insurance might not be your most interesting purchase, it’s something you use everyday. Whether you’re driving to work or sleeping at home, you’re putting the coverage to use.

On this episode of Real Money Talk Podcast, Tyler is joined with guest host, Matt Hands, Ratehub’s Director of Insurance to discuss why insurance isn’t boring with Morgan Roberts, RH Insurance’s Director of Sales. As a multi-award winning car and home insurance broker, Morgan delivers her take on why you should take a second look at your policy.

Becoming an insurance broker

From starting as a receptionist at an insurance brokerage to becoming a broker herself, Morgan loves everything about working in the industry. “Everyone has different needs, so everyone's a little puzzle that I get to solve on what they need for insurance. I get to educate people on what they need and what they don’t need as well.”

She believes that the top skill for a broker is knowledge – you need to be able to put all the pieces together to create a suitable policy for your clients. For instance, a recently married couple might have an engagement ring to insure while a family with a new baby will likely need to increase their contents insurance. As a broker, you’re also constantly learning because insurance companies tend to change their rules a lot.  

READ: How to become an insurance broker in Ontario

Why should Canadians care about insurance?

For most Canadians, insurance isn’t the most exciting topic to talk about. Morgan believes that people aren’t as hands-on with their insurance because policies can get horribly complicated. 

However, Morgan explains why it’s still important to be on top of your insurance needs – “I think people should look at their insurance and care a little bit more because when something happens whether you're in a car accident or you get suddenly injured, you’re going to want to be sure that your coverages are there.”

This doesn’t mean that you need to review your policy everyday. Instead, she explains that it’s a good idea to call your insurance broker when you purchase something new and exciting, such as expensive jewelry or technology. 

Ask for cheaper insurance 

Morgan advises everyone to ask for insurance discounts. With car insurance, there may be opportunities to discount your premium, such as trying usage-based insurance. As for home insurance, it can be more difficult because rates are based on the square footage of your home. And although you can always shop around and compare home insurance quotes, Morgan warns against skimping on the coverage limit.

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Car insurance myths and misconceptions

With over a decade of experience in the industry, Morgan also breaks down a few popular auto insurance myths, explaining why they really are misconceptions to many drivers – here are a few interesting ones. 

  • Your insurer won’t find out about your ticket or accident“False. We pull up your reports. It’s on there. You can’t hide from it.”
  • You don’t need to notify your insurer if you drive for Uber or deliver food“Unbelievably false, and if the ride sharing company or delivery company tells you otherwise, they are wrong. On an application for automobile insurance, you actually sign a part saying you are not carrying passengers or doing deliveries. So if that changes , you have to make sure you're with an insurance company that supports it, but you have to tell them before you do it or the claim would be denied.”
  • Your postal code doesn’t impact your insurance rate“False. It can make a big difference – bigger cities normally have higher rates.” 
  • Speeding tickets under 15km don’t impact your insurance rate“False. Every ticket issued by a police officer impacts your insurance. Red light cameras and parking tickets don’t count. It has to be issued by a police officer.” 

Insurance mistakes you may be making  

In terms of auto insurance, Morgan shares that a lot of people don’t think about extending their coverage limit for accident benefits. If you’re ever injured in a car accident and require income replacement, the standard amount of $400 per week might not be enough. “That's something I think people should discuss with their broker. I think they should go through where they are in their life. What happens in their household? How many people do you have living there? How many people are normally in the car? If you get hurt, what’s going to happen if you can’t work?” 

For home insurance, Morgan mentions that Canadians tend to be underinsured, especially in terms of contents insurance. For instance, you may have an expensive bike or jewelry in your home, and if it gets stolen, your insurer’s set limit might not be enough to cover the cost of a replacement. Therefore, it’s a good idea to add onto your limit to ensure you’re adequately protected. 

READ: What is contents insurance (and when do you need it)?

Are you getting the best price for your auto & home insurance?

Speak with one of our experienced brokers to see how much you could save by bundling your auto & home insurance with RH Insurance today.

To hear the entire conversation with Tyler, Matt, and Morgan on why life insurance isn’t boring, tune in to Real Money Talk, your favourite personal finance podcast. And if you’re currently shopping for auto or home insurance, you can reach out to Morgan and the RH Insurance team at [email protected] or call 1-888-616-1868. 

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