Three things you did not know about auto insurance in Ontario
Useful
tips to get affordable car insurance coverage in Ontario
Auto
insurance in Canada is a big expense for households. In fact, auto insurance in
Canada is more expensive than in many other countries. Ontario's auto insurance
rates are the highest in Canada - drivers pay an average of more than $ 170 a
month in premiums.
Complicating
the problem is the fact that Ontario auto insurance rules are very simple.
Ontario uses a hybrid combination of the liability insurance (a party may sue
the other) and no-fault insurance.
With
high rates and seemingly arbitrary rules, which are the little-known facts
about auto insurance in Ontario could be useful? Keep reading to find out!
Do
not take too much insurance (in some cases)
solid
coverage is good, but it has a cost. Think about your risk and ensure
accordingly. By law, your insurance policy was $ 200,000 in third party
liability, but it is recommended to carry more than that. Aim for at least $
1000000; $ 2,000,000 is better. If someone decides to sue you, the costs can
add up very quickly.
At
the same time, however, it is not always necessary to achieve full coverage.
For example, if you have an old car, you might decide not to obtain this
coverage. Skipping full coverage on an older car could reduce your monthly
insurance premiums.
On
a new or leased vehicle, full coverage is generally a requirement.
Old
Car Cover is up! Classic car insurance rates in Ontario
More
car, less value it has, right? In most cases, but not always. There are two
scenarios where classic cars will have higher rates than new vehicles.
First,
some older models of vehicles will be more expensive to insure because some
models have a terrible history of insurance. For example, they are prone to
theft, to make them is risky.
Second,
at an age (usually 20 years) cars can be considered classic or antique
vehicles, resulting in a special type of insurance coverage, such as classic
car insurance or antique auto insurance. Only a few companies offer these types
of auto insurance in Ontario and, depending on your car and your driving habits
(one year compared to only summer months) Car protection rates can be more
expensive than vehicles traditional.
car
insurance and rental cars
Many
people are confused about insurance for rental vehicles. You may think that
insurance tied to your credit card is enough, but it's not. 3 It does not cover
civil liability or damage to the property of others. You should also pay
attention to the lifting of collision damage to the rental agency, which can
not cover all the costs associated with an accident.
The
best approach is to make sure you have your own car insurance (if you have your
own car) and to ensure that it also extends to rental cars - many insurers do.
If you do not have this extension on your insurance, you can, for about $ 20 a
year, you can purchase a rider to your policy covers rental cars. It is worth
the cost since you will have to pay between $ 15 $ 20 per day for the same
coverage from the rental agency.
We hope you will consider these ideas when you get
auto insurance in Ontario. These tips were provided by Alexey Saltykov of
InsurEye, Canada's largest platform of insurance and notice your portal for
access to cheap auto insurance in Ontario and other provinc
