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Auto Insurance

Car insurance is a must – plain and simple. It is required by law. If you do not have car insurance, you are not allowed to drive a motor vehicle. When you’re choosing auto insurance, it’s important to know exactly what type of insurance you need. And you should be aware that, in Canada, each province has its own rules and laws for car insurance and coverage.

In terms of car insurance, there’s coverage that is mandatory, as well as coverage that is optional. You should determine the type of coverage you need and how much money you are able to spend each month. Keep in mind that as you start to add extra components to your car insurance, your rates go up. And other factors may raise your rates, including: age, previous car accidents or tickets. 

When you’re ready to consider your auto insurance needs, turn to our brokers. They have a high level of expertise to guide you into getting the coverage that best suits you. 

There are many terms in a car insurance policy. Let’s break them down to give you a clearer understanding and help you select the right coverage for your needs:

•    Collision and comprehensive: These two terms describe the most common optional coverage choices on a car insurance policy. Collision coverage provides coverage to repair the damage to your vehicle when it has been involved in a crash where you are found to be at fault or when your vehicle is damaged by an unidentified vehicle (i.e. a hit and run). Comprehensive coverage covers repairs to your vehicle that are caused by something besides a collision that’s typically out of your control, such as theft, vandalism, or an act of nature (like a hailstorm).
•    Deductible: The deductible is the amount of expenses you are responsible to pay before an insurer will pay any of the expenses. The amount of your deductible can impact on your rates.
•    Optional coverage: This refers to any coverage on your policy that you are not required to carry by law. Besides collision and comprehensive, other examples of optional coverage include: accident forgiveness, rental car coverage, roadside assistance, and waiver of depreciation (that is, providing replacement value for a brand-new car).
•    Third-party liability: This part of an insurance policy refers to the coverage provided by the insurance company to pay damages for which you are found liable – whether that is damage to someone’s property or injuries caused by your actions. In Canada, all drivers must carry a minimum sum of $200,000 for third-party liability.