Limited waiver of depreciation: This coverage protects against the loss of value or depreciation of a new car if, as a result of an accident, your car is beyond repair and must be replaced. This coverage is only available during the first two years of a vehicle lease or ownership. You could receive an amount up to the price you paid for the vehicle or the manufacturer’s suggested price. You can only add this endorsement if you have insured your vehicle with Collision and Comprehensive coverage, Collision and Specified Perils coverage or All Perils coverage.
Direct Compensation Property Damage (DCPD): Available only in New Brunswick, Nova Scotia, Ontario, P.E.I. and Quebec, this covers the cost of loss or damage to your car in an accident for which you were not entirely responsible. To qualify, the other driver has to be identified, insured and found to be at least partially at fault. In some provinces, you can no longer sue another person for damage to your car.
Those that will continue your driving record: Some companies will consider your previous experience and will offer you a rate based on how long you have been driving, no matter where you got your on-road experience. Check with a broker to see which companies consider previous out-of-Canada experience so you can reduce your chances of a denial and increase your chances of getting the best possible rate.
To make sure you get all the available discounts, we apply savings automatically during your car insurance quote. Keep in mind, a lot goes into determining your price, including the vehicle you drive, where you live, how much you drive, and your driving record — as well as coverages, deductibles, and limits. In some provinces your age, gender, and marital status may be factors. Your agent can help you decide how best to balance coverage and price and confirm you're getting all the discounts you're eligible for.
We are high risk auto insurance experts and we work with all the Ontario high risk insurance companies. We'll compare quotes to get you the cheapest rates and help you save as much as possible. We understand that being a high risk driving is challenging and expensive. Our experts will help you get your car insurance back on track and get you back into regular car insurance.
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.
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.
Young drivers qualify for discounts by successfully completing driver training programs that have MTO approval. Be sure to check the MTO site for revoked schools. Certificates of completion won’t be honoured by insurance companies unless a school has MTO approval. At time of publication, two Brampton schools are listed on the list of revoked schools. Some insurance companies also offer discounts to students who maintain honours level marks in high school.
*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.
While vacationing in California, you have a serious accident for which you are held responsible, leaving the other driver seriously injured. The other driver decides to sue, which results in a judgment against you for the damages to the other driver's vehicle, medical expenses and loss of revenue. The settlement is expensive, but your Additional Third Party Liability helps to cover it.
The majority of Canadians choose to customize their policy beyond the mandatory minimum coverage requirements, though additional coverage options and limit increases may vary by Province. Examples of policy customization would be adding collision and comprehensive coverage to your policy, while upping your accident benefits limits to better suit your needs. Before finalizing your policy make sure to review all coverage options available to you within your Province!
Travel Insurance Savings: The average savings for emergency medical travel insurance for single travellers, age 30 - 59, for single trips of 7 days, as compared with the published rates of 5 Canadian banks for their equivalent emergency medical travel insurance. Actual savings vary depending on number of travellers, age, trip duration, and coverage selected. Based on research as of September 4, 2012.
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.
Would consumers consider buying auto insurance from Google? Although it’s a household name in Internet search, this would be its first time in the auto insurance space. According to a study by Accenture insurance research, two-thirds (67 percent) of U.S. consumers would consider purchasing insurance from sources other than insurance companies, and 23 percent would consider buying online from service providers like Google and Amazon.
As of January 1st 2016, the Ontario government passed a law mandating that insurance companies give drivers a discount on their insurance if they buy and install winter tires on their cars for the winter months. The discount is usually around 5% of your collision coverage, or $72 per vehicle per year, but you will not necessarily get this discount immediately. Some companies make you wait until your policy renews, so make sure you call your insurer to find out how they handle it.
The more time you spend on the road, the higher your chances of being in a collision or getting a ticket. If you can, start carpooling with colleagues to work, taking public transit, biking or walking because if you can find ways to spend less time commuting, not only could you benefit from a lower premium, but you’ll also decrease your chances of getting a ticket or being in a collision. There are also health benefits too if you bike or walk to work instead of taking the car.
If you’ve spent time comparing car insurance quotes online, you have a pretty good idea of all the different options available to you. So what makes us different? Well, it’s about more than car insurance rates. We built a strong network of advisors in Ontario and across the country who are always available to bring you excellent service. Add more than 70 years of experience as a co-operative, and you can feel confident that we know exactly how to make sure our members and communities come first.
A couple of at-fault collisions, a few traffic violations or an impaired driving conviction is all it takes to get a high risk driver designation from an auto insurance company in Ontario. That sets you up for high auto insurance premiums for several years or perhaps worse, an outright cancellation or non-renewal of your existing Ontario auto insurance policy.
Other insurance conditions may arise depending on the type of vehicle, its use, and any customizations or modifications made to the vehicle. For example, if you have altered your vehicle to enhance its performance or appearance, most insurance companies would need to assess the vehicle to determine if they could insure it. If you plan on modifying your vehicle, call us first! We will let you know if the changes you plan on making could have an impact on your policy.