Car Insurance FAQs
- What type of coverage do I need?
- What do the insurance companies look at?
- What is the easiest way to get the best rates?
- How can I save money on my car insurance?
- Does it matter where I buy my insurance?
What type of coverage do I need?
In Ontario, you must have liability insurance. By law, all drivers must be able to provide proof of insurance when requested—at a minimum amount of $200,000.00. However, other types of coverage—such as comprehensive insurance or collision insurance—may be required by your finance company if you haven't paid cash for your car.
What do the insurance companies look at?
The insurance companies will look at a lot of factors in determining your rates: the first of which is your driving record. Have you had traffic tickets or car accidents in the past? They will also look at factors such as:
- Your gender
- How long you have been driving
- Whether you have taken a driver education course
- The type kind of car you drive
I find looking for auto insurance online to be a bother, what's the easiest way to get the best rates?
Talk to a broker. Many people can spend countless hours shopping for car insurance online, when they could have enlisted the services of a broker—and spent that time doing something useful. Remember, an auto insurance broker deals with more than one company, whereas an agent deals with only one.
How can I save money on my car insurance?
The best way to save money on your car insurance is to be a responsible driver. If you have accidents or tickets, your car insurance will not only be expensive, but chances are it will increase. Another way to save on insurance is to shop the market by enlisting the services of a broker. You may want to list your home, life and auto with the same insurance company, as you may be able to get a multi-policy discount.
Does it matter where I buy my insurance?
No matter which insurance company you end out buying your policy from, the cost of coverage from that company is specific only to your given situation—not how you buy it. The difference between purchasing directly or from a broker will be in how much work you'll have to do. If you call each company and buy insurance from one of their agents, the cost will be the same as if you had contacted a broker who does the shopping for you. A broker does all the hard work—and you get the savings.