Keep Your Premiums Local, Get Better Service, and Support Canadian Communities

Are You Really Covered? The Truth About Foreign-Owned Insurance Brokers

When it comes to protecting your home, vehicle, or business, does it really matter who provides your insurance? The short answer: yes. Many people in Metro Vancouver don’t realize that some of the biggest insurance brokers operating in Canada are actually US-owned. That means their premiums often leave the country, customer service may be outsourced, and policies might not fully account for the unique risks. Additionally, understanding the mandatory and optional car insurance coverage for vehicles in British Columbia is crucial. Basic car insurance provided by ICBC is necessary, but there are additional options available through other providers that can offer potential savings.

For anyone looking for ICBC auto insurance, home, life, or commercial coverage, choosing a Canadian-owned broker isn’t just about better service—it’s about keeping money in the local economy and ensuring your coverage truly meets the needs of British Columbians. Managing insurance claims effectively is also important to ensure smooth processes when obtaining or renewing drivers’ licenses and handling vehicle ownership.

The Risks of Working with US-Owned Brokers

Many insurance brokers in Canada are owned by US-based corporations. While their branding may look local, their priorities often aren’t. Here’s why that matters:

Your Money Leaves Canada

When you work with a US-owned broker, a portion of your premiums often goes back to the parent company rather than being reinvested in British Columbia. This affects local jobs, economic growth, and even the long-term stability of the Canadian insurance industry.

Meanwhile, a Canadian-owned broker keeps your premiums within the country, reinvesting in local businesses and communities. Over time, this supports not only the insurance industry but also the broader economy.

Service That’s Outsourced – Not Personalized

When you deal with a local, Canadian broker, you’re more likely to have access to in-person service and local expertise, ensuring that you get the insurance products that best fit your needs—whether for auto, home, or commercial insurance.

All vehicles in BC are required to have a basic level of car insurance, which can be tailored to meet specific needs and eligibility for online renewals.

Different Regulations & Risk Factors

Insurance is not the same across borders. British Columbia has some of the most unique insurance regulations in Canada, particularly with ICBC Autoplan, which ensures compliance with the province’s car insurance laws.

ICBC’s Basic Autoplan is a mandatory base level of coverage required for all drivers in British Columbia, providing essential protection.

A US-owned broker may:

• Take a one-size-fits-all approach, failing to address risks specific to Metro Vancouver.
• Lack expertise in BC-specific risks like earthquake exposure for homeowners or the complexities of insuring local businesses.

A Canadian-owned broker is far more likely to understand the specific needs of drivers, homeowners, and businesses in BC.

The Value of Choosing a Canadian-Owned Broker

For anyone in Metro Vancouver looking for insurance, a Canadian-owned brokerage provides key advantages:

• Premiums stay in Canada, supporting the local economy. Additionally, submitting an odometer reading can qualify you for discounts if you drive less than 10,000 kilometers a year.
• Service is handled by real brokers in BC—not outsourced overseas. Online renewals make it easy to renew your insurance policy, provided your vehicle meets the eligibility criteria.
• Policies are designed for BC residents, with expertise in ICBC auto insurance, home, and commercial coverage. Policies that can be renewed online are typically for vehicles owned by a single person without coverage changes.

At the end of the day, insurance is about trust—and a broker that truly understands Vancouver’s roads, housing market, and business landscape will be better equipped to provide the right coverage.

Why King Insurance is Proud to be 100% Canadian-Owned

King Insurance is a Canadian-owned and operated brokerage serving Greater Vancouver. We specialize in ICBC auto insurance, along with home, life, and commercial coverage to help protect what matters most.

We also make ICBC renewals easy—whether you prefer to come in person or renew by email, we’re here to help.

Need to renew your ICBC policy? Save time and renew by email: icbc@kinginsurance.ca

For added convenience, eligible customers can renew their ICBC insurance online without needing to make changes to their coverage. Check your eligibility and take advantage of this time-saving option.

Choosing local means choosing better service, tailored coverage, and a stronger Canadian economy. Make the switch to a Canadian-owned insurance broker today.