For home insurance, there is a 20% reduction in deductible for every claims-free year in all provinces and territories. For auto insurance in Quebec and Newfoundland, there is a $50 reduction in deductible for every claims-free year up to a maximum reduction of $250. For auto insurance in all other provinces and territories there is a 20% reduction in deductible for every claims-free year to a maximum reduction of the deductible total.
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:
While Toronto politicians have made efforts to encourage the use of transit and bike lanes, the truth is that more and more residents are choosing to drive. If you are one of them, it is crucial that you have a quality car insurance policy that will cover you when the unexpected occurs. By following these guidelines, you can get the best coverage for your money.
*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.
Although rural backroads and small-towns in Ontario do have their own unique hazards, owning and driving a car in an urban area, like Toronto or Ottawa, carries significantly higher risks for everything from traffic accidents to theft to minor fender benders. Due to the higher risk associated with cars in the city, car insurance is generally more expensive in city centres.
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.
A bit of a history lesson: Google introduced its online shopping comparison website Google Compare in the U.K. three years ago. Google Compare is available in the U.S., although currently all you can search for is credit cards. Google is keeping mum on its possible entry into the auto insurance space. However, Google has already been licensed to sell auto insurance in more than 26 U.S. states after working on the project for the past two years, according to Forester Research blogger Ellen Carney.
The 407ETR is one of the first examples of uninterrupted access toll highway. There are no toll booths. Vehicles report access using a transponder when entering and exiting the highway. If a car has no transponder, then the license plate is photographed digitally. Monthly billing takes place, with invoices summarizing travel sent to the vehicle’s owner.
If you’re driving an older model car in Toronto and not considering purchasing a newer vehicle for a while, investigate the cost of upgrading to anti-lock brakes, air bags, automatic seat belts, installing anti-theft devices or putting in a burglar alarm. Car insurance companies in Toronto often provide discounts for such products or enhancements. If the cost of doing so is favourable versus the long-term savings in your car insurance rate, it’s worth the investment. For older vehicles, it’s also worth considering dropping your Collision coverage to reduce your premiums.
Historically known for its uranium mines, Elliot Lake is now known as a beautiful retirement community. Surrounded by numerous lakes, the town offers lots of things for every age group to enjoy, from boating to hiking and even world-class fishing. Elliot Lake offers a variety of lifestyles, and variety is something our brokers at BrokerLink can relate to. BrokerLink is all about finding the right insurance coverage for individual needs. From boat insurance to home insurance and anything in between, we’re here to help customize your policy. Get protection for your business, cottage, motorcycle, car and other valuables too. Call and see how we can bundle your policies and save you money.