Compare and Choose Your Auto Insurance
Whether we call it haggling, dickering, or bargaining, everyone loves to shop around before making up their mind. But how do you shop around for auto insurance?
The Law
In Canada, you’re required by law to insure your automobile. You might as well know how to do it right!
The Reality
Most auto insurance policies are similar and include basic coverage. You can also purchase optional coverage, such as Collision or Comprehensive coverage. Through it all, one golden rule is worth keeping in mind: in auto insurance, as in all things, it’s best to compare apples with apples!
In Practice
We suggest that you give the same information to each insurance company you approach, so that you can compare quotes objectively. This information includes:
- The number of drivers
- The make of the vehicle
- How the vehicle is used (annual distance traveled, business usage)
- The driving records of the drivers
Which auto insurance you choose will then depend on the benefits that each insurance company offers you. You will need to decide what coverage suits you best. For example:
- Do you need replacement value?
- Are you comfortable with a $500 deductible or would you prefer to reduce your deductible, even if this will raise your auto insurance premiums?
Advice
- Collision coverage is recommended for newer vehicles or vehicles whose value has remained high. On the other hand, for Uncle Arnie’s old beater, it’s usually enough to insure it “half way,” that is, only for damages to others.
- You must report any change in circumstances that could affect your auto insurance coverage or premiums, such as if you:
- Are moving downtown or to the country
- Planning to travel outside the province for a while
- Will be using your vehicle to deliver pizza
For more information on your automobile insurance,
contact us, or request an
automobile insurance quote online right now!