Rental car insurance and credit cards: Many Canadian credit cards include rental car insurance coverage, but there is something very important to know about this. It DOES NOT cover 3rd party liability, meaning that if you damage somebody’s else property, it is not covered. This type of insurance is called a damage/collision wavier, and, as opposed to a real car insurance policy, it is only good for covering scratches/damages on the rental car itself.

Ontario paved the way for ride-share insurance in Canada by becoming one of the first provinces to introduce insurance products specifically for Uber drivers, and now for Lyft and other ride-sharing platforms. Several insurance companies now offer this type of coverage as ride-sharing increases in popularity, especially in dense urban areas such as Toronto. 


Each quarter, insurers can apply to have their rates increased or decreased. The Financial Services Commission of Ontario (FSCO), which oversees insurance regulation in the province, approves or denies these requests. Most of the time, insurers request rate increases due to changes in a particular coverage. For example, an insurer experiencing an increased prevalence in payouts resulting from car accidents might apply to have rates increased to help offset the costs of increased claims.
*75% of Kanetix customers in Ontario who participated in the survey said Kanetix helped them identify an average savings amount of $610 (June – November 2017) on their car insurance. The cited amount represents the average difference between the best quote obtained at www.kanetix.ca and the current premium amount of participants in the survey. The savings amount varies by individual and does not constitute a guarantee; in each individual case, the difference may be smaller or greater than the savings amount cited.
Also, these collision policies are good for cars that have little to no value. For example, a person who paid for their car years ago and could only get a few hundred dollars for the car can use a collision policy to save money on car insurance every month. Ontario insurance agents can offer people collision coverage that keeps them legally entitled to drive but not cost them very much every month.
If you're male and under 25 in Ontario, you're going to get dinged hard. It sucks, but it's the way the system's setup. Other than complaining to your MPP about enacting change, you're mostly out of luck. If you're in a large urban area like Toronto, it's also going to hurt since you're paying for other people's accidents. Here's a map from Kanetix to give you an idea of insurance rate differences across Ontario.

Usage-based insurance (UBI) is another new technology that is also becoming more popular where you pay your insurance based on when and how you drive. You install the necessary tracking device on your car and it, along with a GPS, monitors your driving behaviour. The data is examined when your policy is up for renewal, and usually looks at the following:
Car owners in Canada are required to insure their vehicle on some level. This is because car accidents happen every day, and the people who are involved in these accidents need to have protection for themselves, their passengers and their vehicles. Avoiding citations for lack of insurance can be handled simply by purchasing the cheapest insurance policy a driver can find.
We all know how devastating the physical and emotional toll of an auto accident can be. Yet the financial impact can also be significant, especially when it comes to your automobile, perhaps one of your most treasured – and vulnerable – assets. Even the safest of drivers today face the risk of an accident, with the rise of factors such as distracted driving.   

When it comes to auto insurance, especially auto insurance in Ontario, many people question whether or not there’s really a way to save money on it. There is! While there are many ways to save, none are more effective than shopping around. How can we be so sure? Well, on average, InsuranceHotline.com shoppers save $450* after comparing car insurance quotes on our site. And, all it takes is a few minutes to compare quotes from our network of over 30 insurance providers. 
To follow that excellent advice, we’ll continue with another common tip: increase your deductible. It’s not uncommon for those who increase their deductible from $350 to $500 to save 10 to 20 percent on their annual car insurance cost, and possibly a lot more if you bump up the deductible to $1,000. As you discuss this with your car insurance broker or representative in Toronto, why not ask about how combining policies, or bundling insurance packages, can save you money. It’s quite reasonable to expect a 15 percent discount by having one company providing both your home and car insurance requirements. Also, if you have the means, paying your annual premium in one lump sum is another method to lower insurance costs.

Rental car insurance and credit cards: Many Canadian credit cards include rental car insurance coverage, but there is something very important to know about this. It DOES NOT cover 3rd party liability, meaning that if you damage somebody’s else property, it is not covered. This type of insurance is called a damage/collision wavier, and, as opposed to a real car insurance policy, it is only good for covering scratches/damages on the rental car itself.
Perhaps the worst kept secret or simply the best advice to finding cheap car insurance in Toronto is something you’ve heard over and over again: shop around and compare. Comparing car insurance quotes from multiple companies is one of the the best options available to save money and a simple, convenient way to accomplish this is by going online to do your research. In fact, some car insurance companies in Toronto will give you a 5 to 10 percent discount just by filling out your information and signing up for a policy online because you are saving them from using costlier resources. We’ll insert a shameless plug here and inform you that Rates.ca simplifies the online research process with a proven customized comparison tool that helps you obtain among the lowest car insurance policies on the market.

We merged with Alex Berthelot Insurance Brokers in January 2013. With this acquisition we were pleased to obtain Alison Rogers who is a graduate of Sault College. She has been a licensed insurance broker for11 years and works in both personal and commercial lines insurance. In her spare time she is an active hockey mom and enjoys watching both her sons play hockey.
Many universities and colleges have partnerships with a major insurance company to provide cheaper car insurance to current students as well as alumni. They will usually offer other discounts if you bundle with home insurance, as well as priority customer service if you are contacting them for information or to make a claim. Call your school’s representative to find out what benefits you can get, and as always make sure you still compare their quotes in case you can save more money elsewhere.

For example, if there's a ticket you forgot to include, or you decide to go with a different deductible, then your auto insurance rate will likely change. The same is true too, if you choose not to bundle your home insurance but originally indicated it was something you'd consider doing. If you don't end up getting home insurance with the provider you buy your auto insurance from, then you'll lose the multi-line discount that was originally applied to your auto insurance quote.
Overall, men are considered riskier drivers. According to Statistics Canada, men are involved in more than twice as many deadly collisions than women. Drivers under the age of 25, particularly single males, have statistically higher collision rates, and therefore pay higher rates. Insurance is all about assessing risk based on data, so companies consider a number of general factors, including time spent driving, type of vehicle, number of accidents, and general driving behaviours. In some cases, being married – especially if your partner has a good driving record – can reduce your rates.
In general, the cancellation fee is a percentage of your premium and the percentage charged is determined by how far along you are into the term of your policy. For example, you’ll pay more if your current policy is only four months old than if you’re nine months into your coverage. The cancellation fee charged is basically a sliding scale that typically ranges from two to seven per cent. 
Preferred Vendor Program: Preferred Vendors offer the highest-quality workmanship. When you choose a Preferred Vendor for your repairs, the quality of workmanship is monitored and the bill is settled directly with the repair shop, giving you a hassle-free claims experience. Plus, collision repairs made by a Preferred Vendor are guaranteed for life.1
*60% of Kanetix customers in Ontario who participated in the survey said Kanetix helped them identify an average savings amount of $776.58 (December 1, 2015 - February 29, 2016) on their car insurance. The cited amount represents the average difference between the best quote obtained at www.kanetix.ca and the current premium amount of participants in the survey. The savings amount varies by individual and does not constitute a guarantee; in each individual case, the difference may be smaller or greater than the savings amount cited.
Mortgage Savings: Based on the present value of monthly savings over the mortgage term (3-years). The monthly savings is the difference in monthly payments between the lowest and third lowest mortgage rates from major Canadian lenders as of April 24, 2012. These rates are for a 3-Year closed mortgage for $350,000, with an amortization period of 25 years, in the province of Ontario, for a borrower with a good credit rating.
But a new type of insurance policy has arrived in Canada that may be just the ticket to help out the high risk driver. Usage based insurance (UBI) has been adopted by several insurance companies in Ontario that are now placing data collection boxes–run by telematics technology–in the cars of their customers to track and record how they drive, including monitoring such things as quick turns, hard acceleration, braking and overall speed. Several Ontario auto insurance firms now present customers with a five to 10 percent discount to do a trial run. In the course of trying to establish a better driving record, having such objective data in the hands of auto insurance providers is bound to help the high risk driver who conforms to safe driving habits.
We know driving in Toronto can be challenging, from the Gardiner’s morning gridlock to the crowded parking spots of Bloor. That’s why you need a car insurance plan built for city driving – one suited for the ever-changing road conditions, the speedy freeways and the diverse neighbourhoods. And we take that need very seriously. As a car insurance broker, we shop at up to nine car insurance companies to make sure you get the best rates for your specific driving situation. We’re also available 24/7 to help you with any claims.
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