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Auto Insurance

What You Need to Know About Car Insurance for Your Family

car insurance

When considering car insurance for your family it can be difficult to get to grips with all the necessary details. There is so much information available online that it can be overwhelming and conflicting.

Wouldn’t it be great to have all the necessary information you need in one place?

Well here you have it!

We have gathered together what we feel is ‘need to know’ information for your family and nothing more. Nobody wants to sit and read endless information that may not be relevant. Here you have an easy read article you can turn to when searching for your car insurance.

Things to Know About Car Insurance

Awareness on Legalities

First things first, car insurance is a legal requirement! Yes we’re sure many of you know this but there may be some who are unaware of the ins and outs of this. It’s completely necessary for your car to be insured at all times if you plan to have any use for it. You will not be able to drive, park or even place your car on a public road without insurance. When purchasing your insurance, it must be by a company or broker who are licensed by the Government of Ontario.

If you’re found to be driving without valid car insurance the fine can be up to $50,000, yes that’s right! Which would you prefer a hefty fine or to pay your car insurance? It’s worth mentioning you can have your licence suspended or car compounded, not to mention the legal and medical costs if you cause an accident. Is it really worth the risk?

car insurance for the family

Ontario Law states that all insurance policies must include;

Third party liability coverage – this must be a minimum of $200,00 coverage. This will cover you if you’re in an accident where a person or property is damaged.

Statutory accidents benefits coverage – This will ensure you have benefits if you’re injured in an accident, even if you’re at fault.

Direct Compensation and Property Damage – This will have you covered if someone else is at fault for any damage to your car or the property within your car.

Uninsured Automobile Coverage – This will cover you and your family if you’re injured or killed by a driver who is uninsured and leaves the seen before they’re identified.

Insuring Your Teen

It must be a scary thought having your teen hitting the road. One way to ease your mind is knowing they have the correct coverage whilst driving. Statistically teens will be more likely to be in an accident due to inexperience. This is the cause for the rates being a lot higher for young drivers. These rates will come down over time with experience.

However you’ll be able to get lower rates if they’re going to be driving your car. This is because they won’t be driving as much or registered as the main driver. It’s important to ensure your teen is insured whichever route you decide.

If they’re driving your car without being listed then this will be breach of your insurance policy and they will not be covered for any damages or injuries. Which means big money for you if anything was to happen!

car insurance

Proper listing of Multiple Drivers

If you have a big family and all of you drive it’s essential you’re all listed. If there are multiple cars and driver’s this information should be relayed correctly to ensure you have the right policy to cover you all. Each driver should be listed with the car that they use. Be vigilant as you never know what’s going to happen, you want to make sure you and your family are protected.

What About Car Accidents?

Although we don’t want to think about these things we have to when considering car insurance. In a nut shell, if you find yourself in this unfortunate situation but you’re not at fault then your rates will not be affected.

However if you are determined to be at fault or you’re the sole driver then this will stay on your record for 6 – 10 years and your rates may be affected. Sometimes accidents can’t be avoided and it will really depend on your situation as to how your insurance will be affected.

wrecked car

How Can I Reduce my Rates?

We understand insurance can seem a great expense, but it’s a worthwhile one! You may be wondering how you can reduce your costs. There are a few factors which will reduce your insurance policies;

  1. Experience on the road
  2. Having a clean record for a substantial amount of time
  3. Changing your deductible or level of coverage to something cheaper
  4. Moving house – some where safer and secure
  5. Previous accidents and tickets clearing on your record

Review Your Policy

It’s safe to say that our lives change from day to day. Would you believe that some of these changes may affect your car insurance? For this reason it’s important to review your insurance on a regular basis.

Never know these changes may be of benefit to you! It’s also worth mentioning laws and policies change. This is why it’s essential to keep in contact with your insurer rather than dodging their calls, there may be vital information that needs to be relayed to you.

car insurance costs

Time to Purchase!

We hope you feel more confident about purchasing your car insurance. Our aim is to help you be more informed before making your decision on your policy. It’s easy to get caught up in endless information available on the internet, some of this can even be out of date.

Whilst you see it’s essential to have the correct insurance policy to protect your family, we understand you want a fair price. You may even have some more questions you need to ask before purchasing your policy.

Make an inquiry now to see what’s available to you. We’re sure together we can help you choose the best coverage to suit you and your family at a reasonable price!

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