How Does Auto Insurance Work?
Automotive insurance protects you, your loved ones, and those around you in the event of an accident.
When you purchase auto insurance, you are buying the promise that, in the event of an accident or damage to your vehicle, your insurance provider will cover some or all of those expenses. The amount of coverage you choose for your automotive insurance policy will determine the range of your coverage.
What Types of Damages Would Be Covered?
- Car Theft
- Collision Damage
- Weather Damage
Do I Need Auto Insurance?
The short answer is yes – if you have a car, regardless of whether it is owned, financed, or leased, you are legally required to have a certain amount of coverage provided by automotive insurance. The exact amount is determined based on the province you live in, but it will generally include accident benefits, liability coverage, uninsured automobile coverage, and direct compensation coverage.
In Ontario, if you choose to drive without any auto insurance, your fines could range from $5,000 to $50,000.
How Much Should I Expect to Pay for Automotive Insurance?
Your auto insurance policy will be unique to you, which means that how much you pay will also be dependent on your unique circumstances and needs. However, there are some universal factors which are considered when creating your policy and your payment plan.
- The Physical Attributes of Your Vehicle – The make and model of your vehicle, as well as whether it’s been involved in any previous accidents, will affect the different coverage amounts.
- Private or Commercial Use – Are you planning to use your car for your own private use, or is it a company vehicle? The coverage you need will vary depending on your vehicle’s intended purpose.
- Your Place of Residence – Your province of residence, as well as whether you live in a rural or city area, will affect your rates. For example, a car predominantly used in a rural area might have a higher risk of hitting a deer than a car that is rarely driven outside a suburban neighbourhood.
- The Coverage You Want – You can choose the level of coverage you want above and beyond what is required by law. Would you like any charges from a rental car covered while yours is being repaired? Do you want comprehensive roadside assistance in case of emergency?
- How Far You’ll Drive – Do you enjoy cross-country vacations, or do you just need to get to work in the morning? The expected wear-and-tear of your car will be taken into consideration.
- What’s Your Driving Record? – Safe drivers can generally expect to be rewarded with lower insurance rates.
The Will Marshall Automotive Insurance Difference
By contacting Will Marshall Insurance Brokers Ltd., you will receive more than just a free car insurance quote. We will also provide advocacy, advice, and unsurpassed claims dependability.
Our individual car insurance policies are geared towards your individual needs with professional advice. Our staff will work one-on-one with you to provide you with effective and efficient insurance that serves your best interest, both in terms of your safety and your pocketbook.
Each insurance policy holder is assigned a registered Insurance Broker who will provide you with individualized and professional service. Let one of our knowledgeable brokers provide their expertise so you can make an informed decision based not only on price, but on the insurance coverage protection that serves you best.
For your free car insurance quote in Barrie, Orillia or Simcoe County, call Will Marshall Insurance Brokers Ltd. at 705-726-2551 or submit your request through the form on this page.