Auto Insurance
What is Auto Insurance?
Auto insurance is a policy purchased by vehicle owners to mitigate the financial risks associated with driving. In Ontario, it's a legal requirement to have insurance coverage for your vehicle. This protection can cover a range of risks, including damages from accidents, theft, and liability for injuries or property damage to others.
Types of Coverage
1. Third Party Coverage
2. All Perils Coverage
Popular Add-Ons
1. Rental Car Coverage
Covers the cost of renting a car up to a determined limit while your vehicle is being repaired after a covered incident.
2. Waiver of Depreciation
Removers the insurers right to deduct depreciation from the value of your vehicle when settling a claim for loss or damage by an insured peril
3. Increased Accident Benefit Coverages
While the compulsory coverage is included in your policy, there are also enhanced options which should be considered depending on your unique circumstances.
Tips for Saving on Auto Insurance
Bundle Your Policies: Combine your auto insurance with other policies like home insurance for potential discounts.
Equip Winter Tires: Purchasing and equipping winter tires during the winter months can save you up to 10% on your auto policies.
Maintain a Good Driving Record: Avoid accidents and traffic violations to keep your rates lower.
Drive a Safe Vehicle: Choose a car with high safety ratings and security features, which can reduce your premium.
Ask a Broker: Work with an insurance broker, such as myself, to ensure you're getting the best coverage possible at the lowest premiums. As an Insurance Broker working with 60 + Companies, I can save you time and money by shopping the best rates all at once.
Understanding Auto Insurance Terms
Premium: The amount you pay for your insurance coverage, typically on a monthly or annual basis.
Deductible: The amount you pay out-of-pocket before your insurance coverage kicks in for a claim.
Coverage Limits: The maximum amount your insurance will pay for a claim, which can vary by policy and coverage type.
Looking for Auto Insurance?
I'm dedicated to helping you find the right auto insurance coverage tailored to your needs. We'll work together to access your driving record and determine the best coverage for your needs at the lowest premium possible!
For more information or to get a personalized quote, contact me today!