If you live in Quebec, the provincial public automobile insurance plan covers you for injury or death due to an automobile accident, no matter who is at fault or where in the world the accident happened. However, under the Automobile Insurance Act, you also have to have third-party liability insurance of at least $50,000 for property damage. This protection, available from private insurers such as The Co-operators, covers any property damage caused to another party.
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If you are in your twenties and either working or in school, you can qualify for various discounts, including discounts for good marks at university or college. Teenagers are usually covered under family car insurance plans, and any age group can take advantage of discounts for taking driver’s education classes – which also help you get your graduated licence faster in Ontario.
Credit Cards Savings: Based on avoidance of unnecessary card fees and correctly chosen insurance protection via a credit card, including $280 in rental car insurance (renting a car for 2 weeks per year), $70 in card fee (fee difference for cards with similar insurance protection), $70 in travel medical insurance for one person for three weeks, and $80 for extended warranty for one electronic device purchased during a year.
If you’ve chosen to include Collision coverage, Comprehensive coverage, or both on your auto insurance policy, the broker or agent you speak with when discussing your insurance needs will ask you about deductibles. Specifically, you’ll be asked how much you’d like your deductibles to be. Give this question some thought before answering because you’ll want to pick a deductible that fits your budget and will not cause financial stress should you need to submit a claim. While it’s true, your car insurance premiums will be lower with a higher deductible, your deductible needs to align with your personal finances. In general, the most common choices for deductibles are $1,000 or $500; however, there may be other deductible options available to you that may better fit your needs.
The first is when you insure more than one car together on the same policy. So if you or your family have more than one car, you can save on the total insurance payments by having them bundled together on the same policy. The second is by combining multiple types of insurance. Most insurance companies offer savings when you bundle your car and home insurance on one policy, and some even offer additional bundling options for things like boats, jewelry, and more.
Insurance is funny, in a weird sort of way, because rates can vary wildly between insurance companies. Also, premiums often change so the insurance provider who offered you the best rate two years ago, or even last year, may not be the insurer who offers you the best car insurance rate today. That’s why it’s so important to shop around, because the quote you get from one company can be significantly higher (or lower) than the quote you get from another.