Ontario passed major coverage reforms at the end of 2010. They passed the legislation to keep premiums affordable. Minor injury payouts were skyrocketing, driving costs up for everyone. Ontario wanted to control rates while giving customers more choices when they shop for car insurance quotes Toronto. Liability and accident benefits/bodily injury policies are the law in Ontario. Fines for non-compliance range from $5,000 to $50,000.
To find the most affordable coverage, customers should compare rates. It is easy to find an online insurance quote Ontario. Often, one website will offer multiple car insurance quotes Ontario from competing companies. Another option for customers is to contact an agent.
The cheapest coverage, however, may not be the best coverage. Customers should make sure they are getting the most coverage for their dollar. They should start by checking to see if they are receiving all possible discounts. These may include safe driver discounts, safety feature credits, association member reductions, and multi-line discounts.
Comprehensive and collision coverage are optional for older cars. Comprehensive pays for damage like natural disaster or vandalism. Collision funds repairs in case of an accident. Often, it saves money to drop these types of coverage. The low value of an old car makes the coverage too expensive.
Find out how much the policy will pay if the car is totaled. Some companies may pay actual cash value. This means that the payout will decrease as the car depreciates. Other companies pay an agreed-upon rate. This is the same over the life of the policy. When damage is repairable, companies may use original manufacturer parts or cut corners by using aftermarket parts. It is important to know the insurer’s practice.
Customers with good credit may save money by switching providers. Customers with poor credit should not switch. They will pay up to a fifty percent higher premium. To find a good provider, customers should talk to friends and family. They could also check with the government to see if they publish complaints against insurance companies.
Customers may receive lower auto insurance quotes Ontario if they opt for a higher deductible. Customers should also ask about mileage deductions. Cars that are driven fewer than 10,000 miles annually cost less to insure. Another way to save money is to purchase a low-profile car. A car that is low-profile is one that is rarely stolen or vandalized. Customers can find ratings on cars by consulting the Institute for Highway Safety.
Consumers should make sure that the company never charges extra fees. Some companies, for instance, add a monthly fee if customers pay by the month. Customers should find a company that will not charge a fee. Another option would be to pay the premium as a lump sum.
Car insurance quotes Toronto don’t tell customers everything about a policy. Customers should ensure that they are getting the best coverage for their dollar. They should ask for all available discounts. They should know specifics about their coverage. Customers will save money if they follow these and other easy tips.