Auto Insurance Canada

As you know, there are many factors that influence your auto insurance rates. The problem is, some of them require a lot of time or effort to improve. For example, your driving record is critical, but waiting for accidents and traffic violations to drop off can take years. The type of car you drive also plays a role, but replacing it is high-maintenance. Likewise, your living address can influence your rates, but moving to another zip code just to pay less for auto insurance isn’t an option for most people.
Fortunately, there are several things you can do today that will have an effect on your rates. They take very little time or effort. We’ll cover seven of them below.

#1 – Pay Your Premiums Annually

If you pay your premiums monthly, try to pay them annually. Otherwise, your insurance company will add a small administrative fee to each month’s bill. The fee may only be $8 to $10 per month, but it will add up over the course of the year. By paying your premiums on an annual basis, you’ll avoid the fee.

#2 – Drop Unnecessary Endorsements

In order to drive legally, you need Accident Benefits coverage. You also need Third-Party Liability and Uninsured/Underinsured Motorist coverages. Each of these are mandatory in every province and territory.

But many coverages, such as collision and comprehensive, are optional. You’re not required to have them in order to drive. Collision and comprehensive are notable endorsements because both coverages are expensive.

If your vehicle is old and its market value is low, consider dropping collision and comprehensive. Your insurance rate may decline by 20 percent or more.

#3 – Consolidate Your Insurance Policies

Most insurers offer a discount for consolidating your policies under their roof. If you have your property insurance with one provider and car insurance with another, let one company handle both. You may receive an immediate discount of 10 percent or more.

Keep in mind this also applies to multiple auto insurance policies. For example, if your car is covered by one company and your spouse’s car is covered by another, consolidate them.

#4 – Install An Anti-Theft Device

If you carry comprehensive coverage, you’re covered in the event your car is stolen. But realize the rate you’re paying is based on the risk your insurer will one day have to pay out a sizable claim. Thus, if you reduce the likelihood that your vehicle will be stolen, you’ll earn a discount.

A lot of insurance companies lower their policyholders’ rates if they install an anti-theft device into their vehicles. Such devices include alarm systems, steering wheel locks, and immobilisers. If you already have one of these mechanisms installed, inform your insurer and ask for a discount.

#5 – Raise Your Deductibles

There’s a good chance your deductibles are too low. Most people keep them low, so they won’t be forced to pay much money in the event they need to file a claim. But that is usually a self-sabotaging approach to deductibles. The lower they are, the higher rates you’ll pay.

Here again, it’s worth remembering your rates reflect your insurer’s risk. By increasing your deductibles, you’ll lower their risk, which in turn lowers your rates. Also worth noting, if you’re a safe driver, there is very little chance you’ll need to file a claim in the first place.

#6 – Review Your Coverage Limits

Have you checked lately to note whether your coverage limits are still appropriate? If not, they may be excessive, which means you’re paying higher premiums than necessary. Certain life events can dramatically alter our coverages needs. For example, suppose you have recently retired and downsized your estate. Your coverage limits may still reflect assets you have long since sold or divested.

Review your coverage limits periodically to make certain they are still suitable given your circumstances.

#7 – Request Quotes From Competing Auto Insurers

Surprisingly few people compare the rates they’re currently paying with the rates offered by other car insurance companies. As a result, many consumers pay more than necessary for their coverages.

In some cases, it’s due to laziness. It is much simpler to renew a policy each year than to check whether lower rates are available with another insurer. In other cases, the lack of action is due to a misconception about the auto insurance industry. A lot of people believe that all insurers charge the same premiums.

Compare quotes from several insurance companies on a regular basis. Do so at least once a year, a month or two before your current policy expires.

Although many of the factors that influence your premiums can’t be changed overnight, a few can. Start with the seven suggestions above. You might find that you can reduce your rates more quickly than you thought possible.

When you are looking to sell a semi-trailer, you do not necessarily have to spend a ton of time on the project. You can just easily spend your time more wisely selling used trailers online. Following each of these five steps should make it much easier for you to stay true to your asking price and get what you want at the same time.

1. Searching the web is the first place to start. However, you cannot simply do “California trailers” in a search engine and hope to learn something new. You might want to find a website that sells trailers. These places can give you a good idea about pricing and the kinds of trailers that are available. This is the only way you can price yourself correctly.

2. You have to search the web as well. You want to be sure that you are searching for the trailer style, age, price, and other accessories. Putting more words into a search can make the search more narrow and easy to read after the fact. You want to see how people have written their descriptions so you can get some ideas on how to write yours.

3. Look at auction websites and on classified pages. These places will give you a chance to interact with people and have a chance to bargain on the price of your trailer. Sometimes, if you can talk to someone personally, they will want to negotiate and the two of you can come to a mutual agreement.

4. If you choose websites to look at that have nothing but trailers, you might not necessarily get the best results from a free site. Imagine the selection from a free site and how sparse and inconsistent it can be. You might be better off investing in a paid site that vets all its sellers and has quality controls in place. Spend the money to list on a site that gets real traffic and has real customers.

5. The best thing to do when you write the description and list the trailer is to put in a picture. Great ads get about 80% more clicks when there is a picture attached. No one wants to see an invisible trailer, and no one wants to buy one either.

When you want to get a good deal for selling your used trailer, invest the time and money in a website that can help you, but make sure you include a picture and follow the steps faithfully. This will make it easier to get a return on your investment.

Car insurance coverages can be categorized into two broad groups: mandatory and optional coverages (also called endorsements). Among the many endorsements you can purchase are collision and comprehensive insurance. They address different circumstances, and together, offer wide-ranging protection in the event your vehicle is damaged or stolen. The problem is, both are expensive.

Below, we’ll describe the events that collision and comprehensive cover. We’ll also explain when both coverages are valuable, and when you should consider dropping them from your policy. You’ll also learn how to maintain these endorsements while lowering your rates. Our goal is not to sway your decision regarding whether to invest in collision and comprehensive. Rather, we hope to provide the details you need to make the best decision for you and your family.

What Does Collision Insurance Cover?

As noted, collision coverage is an optional feature of your policy, which means it can be dropped at your discretion. It covers damage sustained by your vehicle as the result of an accident you cause. The accident can involve another driver, or only yourself – for example, colliding with a tree, rail guard, or wall. Your insurer will compensate you for repairs made to your car up to its cash value. If the damage is extensive, they may decide to “total” your vehicle, and pay for a replacement.

If your car is hit by another driver, any resulting damage would be paid for by the offending driver’s liability coverage. Also, consider your deductible when filing a claim. If your deductible is set at $1,000, and repairs total $900, it makes little sense to submit a claim to your insurance company.

What Does Comprehensive Insurance Cover?

Comprehensive is also optional, and can be dropped at anytime. In contrast to collision insurance, it covers damage to your car stemming from events unrelated to an accident. For example, if your vehicle is damaged by falling rocks, this feature of your policy would cover the necessary repairs. So too would comprehensive cover repairs or replacement costs arising from vandalism, theft, and fires.

As with collision coverage, your insurer will compensate you up to the cash value of your vehicle. Alternatively, they may decide to “total” your car if the damage it has sustained is substantial. This endorsement is accompanied by a deductible, similar to collision insurance.

When Does It Make Sense To Purchase These Coverages?

Not every person will benefit from carrying collision and comprehensive on their policy, especially given the relatively high cost of both endorsements. Long ago, consumers were encouraged to carry both coverages for a specific number of years, after which both were to be dropped.

Such broad rules are no longer useful. The growing disparity in depreciation rates between various makes and models makes this rule inappropriate. Also, more people than ever have outstanding auto loan balances that are larger than the values of their cars. This can make dropping collision and comprehensive coverages a poor financial decision; if a person’s vehicle is totaled, they’ll need to continue making payments while paying for a new car. In the end, your personal circumstances will dictate whether these coverages offer value.

If your car’s cash value is high, adding these endorsements to your policy may be a good idea. Otherwise, replacing your car in the event it is totaled or stolen may pose a financial burden. Collision and comprehensive coverages may also be appropriate if your vehicle is expensive to repair. Often, replacement components for imports and exotic cars are costly.

Consumers who currently have these endorsements should take a close look at their annual car insurance bills to determine how much they are paying for them. Most people would be well-served by dropping collision and comprehensive once their combined annual cost reaches ten percent of their car’s cash value.

Raise Your Deductibles To Maintain Affordable Coverage

If you have these optional coverages, and want to keep them on your policy, consider raising the deductibles attached to them. Doing so will lower their rates. For example, if your collision deductible is currently set at $500, ask your insurer to raise it to $1,000. If the amount you’re paying for collision insurance declines far enough, it may be worth keeping the coverage on your policy.

When making changes to your policy, whether dropping collision and comprehensive coverages or adding another endorsement, shop around. Compare quotes from several car insurance companies. You’re likely to find a lower rate than you’re currently paying.

Before renting a car in Canada, it is important that you find out whether or not the car insurance policy you are purchasing can fulfil all the needs and requirements that you are looking for in your policy. This will help you buy the most suitable auto insurance coverage when you rent a car in Canada. You also need to keep in mind that when you buy the most appropriate coverage, you get all the benefits of the policy that you actually need.

3 Factors to consider when renting a car in Canada

Go through this article to know about the 3 factors that you should consider when renting a car in Canada.

1. Do not rent your vehicles outside Canada – According to Mr. Bordignon, a State Farm auto insurance policy does not rent cars outside Canada and so, you may need to buy extra coverage from the auto insurance agency so that you can live peacefully. You will find many credit card companies who do not provide coverage once you’re outside the continent. So, it is advisable that you read the terms and conditions of the auto insurance coverage that you are planning to purchase if you have decided to rent a car for your holiday excursions abroad.
2. Check out your limits – If your credit card has already covered you for car rentals, it is wise enough to find out what your policy includes. It may happen that your credit car coverage do not have sufficient liability for rental cars but your personal car insurance policy may have enough liability coverage. Even if you already have personal auto insurance policy, it might not be enough coverage for your rental car. In case, you do not have collision coverage on your personal car, then it will not be extended to a rental car. It will be of no use if you pay collision for your old car and you will not have collision on your new car. According to Mr. Bordignon, you may buy extra collision coverage for the rental cars with your personal insurance and so you should talk to your broker in case you may think to do so.
3. Forbid the use of cars on unpaved roads – You will find that there are some companies who have prohibited the usage of cars on unpaved roads in Canada. If you buy a collision damage waiver or any rental car insurance, it will be canceled when you drive your car on unpaved road. This will also stop you from driving your car on unpaved road since you will not be able to get the required coverage from the auto insurance company.

It is important that you have a talk with your credit card or auto insurance company before you think of not buying any coverage. It is obvious that you will never feel like paying money for anything that you really do not need. At the same time, it is also necessary that you purchase the required car insurance coverage so as to secure your car.

Car insurance is one of the monthly expenses that a person can actually take action on in order to pay a lower amount. Most expenses are pretty much set in stone and may vary slightly each month due to the amount of usage. However with car insurance, there are a few things that you can do to get a discount on your policy.

How To Save On Car Insurance:

1. Pay cash for cars. When a car needs to be purchased using a car loan, often times the financial institution providing the loan requires that the buyer get full coverage on the vehicle until the debt is paid off. By paying cash for cars instead of financing them, individuals can elect to get less coverage and therefore have a policy that is not as expensive.
2. Pay for the policy in one lump. Many people don’t know that they can save 10-20% off the cost of their insurance policy if they choose to pay for their premium in one payment instead of opting to pay it in monthly instalments.
3. Get an alarm system. When cars get stolen, is means that the insurance company will lose money in paying for a replacement vehicle. Therefore insurance companies will give people a discount on their policy if they can prove that they have installed an alarm or anti-theft system in their vehicle.
4. Good driver discount. People who have driven for years without getting into an accident may be unknowingly overpaying for their current auto insurance policy. Insurance companies love safe drivers and will happily reward them for their safe driving skills by providing them a “good driver” discount on their insurance premium. Drivers who have had no accidents in the past 2-5 years should inquire about this discount.
5. Good student discount. Students that do well in school should look into whether their insurance company offers a price reduction on the car insurance policy. Many insurance companies associate maintaining good grades with being more responsible. Responsible drivers are safer drivers, and insurance companies will give a discount for this. All a student needs to do is provide documentation to his insurance company that shows what his grades are.

Whatever car insurance rates that people have, chances are that they can get a possible premium reduction. Insurance companies are always looking for ways to hang onto safer drivers instead of having them switch to another company. The main way of doing this is by offering healthy price reductions to those drivers who will not cost the insurance company money by getting into accidents or getting their vehicles stolen. Paying for the car in cash and paying the policy in one lump sum will also result in insurance policy price reductions.

According to the recently released car insurance review, Nova Scotia’s policies have not kept up with the times. In the short-term, such antiquated policies can create lower insurance premiums for automobile owners. In the long-term, these policies can bankrupt Nova Scotia.

The report notes that Nova Scotia’s disability benefit for an individual who becomes completely disabled as the result of an auto accident receives only $140 per week – an amount that has not changed since 1974. The report recommends increasing this amount to $250 per week. When one compares this amount to the average weekly unemployment payment of $345, the paucity of Nova Scotia’s disability payment is glaring. Additionally, even if the increase is approved, the disabled individual will reach the maximum limit of his benefits at $13,000 per year. According to Statistics Canada, the poverty line is $18,000 per year, leaving the accidentally disabled well below poverty level regardless of his station in life prior to the accident. The predictable long-term result will be the increased reliance on Nova Scotia’s other public services such as food assistance or rent assistance.

The report recommends a review of the Nova Scotia’s insurance premiums with an eye towards fairness based on age and sex. With respect to age, the National Institutes for Health recently released a study regarding the effects of aging on one’s ability to drive. The study points out the fact that one’s reflexes do slow down with age and that elderly drivers are more likely to commit safety violations than are middle-aged drivers. Current national teen driving statistics show indicate that automotive accidents are the leading cause of death in the 15 to 20 year-old age group, and that two out of every three teenage accidents deaths are boys. While it is patently wrong to discriminate on the basis of sex or age, such startling statistics must be acknowledged. The report recommends removing both age and sex as determining factors in automotive insurance rates.

Perhaps a better policy would be to ensure that all drivers are aware of their responsibilities regardless of age or sex. One way to accomplish this goal would be to require mandatory driver examinations at set intervals. At this time, drivers would be required to show valid proof of insurance in order to register for the exam. Every five years, each driver would need to renew his license. In order to do so, he must pass a written and practical driving exam. Those drivers who do not pass both portions of the exam could receive additional driver’s training while retaining driving privileges. At the completion of the course, the drivers could take the exam a second time. Those drivers who pass are able to renew their license. Those drivers who fail must turn in their license until such time as they are able to pass the exam. Since the exam would apply to all drivers, regardless of sex, throughout their driving careers, both ageism and sexism would be removed from equation. Driving privileges would be granted solely on the basis of competency.

Kudos goes to Nova Scotia for undertaking an analysis of its current automotive insurance practices. The report commissioned by Nova Scotia outlines several baby steps towards improving the system. With a little tweaking, these baby steps could become giant leaps towards equalizing the system.

Recession chic is in, it’s official. As the global economic downturn begins to bite, consumers everywhere are looking to penny pinch. Price sensitivity is at a level retailers became unaccustomed to in the boom years, slowly but surely we are turning to cheaper options in our everyday lives.

But in the rush to save pennies, we must not forget the adage, that if you always pay peanuts, you will sometimes get monkeys. With this in mind we examine whether the cheapest auto insurance is always the best option for individual consumers

By choosing the cheapest quote we take into account only the price. Quite apart from the price, the current economic climate has introduced new concerns for consumers looking to purchase insurance policies. A few high profile bailouts of prominent institutions now mean the man in the street is worrying about the financial integrity of his or her insurance provider.

A good starting point is to look up a ratings site online, which will help you to ascertain the financially soundest companies. Many insurance providers are publicly traded so this information is available to those who seek it.

It is good to remember that the financially strongest companies may also be the most competitive when compared-more on that later.

Once you have reassured yourself that your would-be Insurance providers won’t be disappearing into a hole in the ground tomorrow, you can start the next phase of your research.
When we purchase insurance we all hope that the next time we need to interact with our provider is upon renewal. But accidents will happen; so it is important that you take this into account when researching.
A quick telephone call to your jurisdictions insurance regulators office will allow you to uncover any major complaints made against a particular company, and certainly separate the customer service wheat from the chaff.

Consumers now have access to information such as rankings on overall customer satisfaction, claims payment history, pricing, and communications via the internet. Use these resources to see who offers the best customer experience. There are a myriad of consumer sites in cyberspace where consumers share their customer service experiences and these will help you get a feel for who is popular amongst your auto insurance purchasing peers.

All that is left at this point is to seek out the cheapest auto insurance quote. Kanetix.ca is a free online price comparison service that has been helping Canadians search for their cheapest auto insurance provider since 1999.

Kanetix.com is the sister site of Kanetix.ca, and now offers the same service to US based customers via their free user friendly service. Not only is the service free, but it allows you to get multiple personalized quotes from competing insurers by only entering your information once. So you can search for not only the cheapest auto insurance policy, but one that corresponds to your individual needs.
In closing, it’s clear that the cheapest auto insurance quote may not always be the best option, as it only takes pricing into account. Your personal profile and expectations are what will determine what the best quote for you is, therefore robust research and a personalized price comparison are the tools you need to choose the best policy for your needs at the cheapest price.

It looks like we are not going to get any tax credits for buying snow tires. The premier and transportation minister said the government will not help us buy snow tires in Ontario. The reason for this appears to be that the Ontario government does not have a plan for putting cash into our hands.

According to articles recently published the government does not want to make it mandatory for everyone to buy snow tires. They feel that having the proper equipment will make driving safe however. If a tax credit would be issued it would amount to around 19 million dollars each year.

It is also estimated that 500 fewer crashes that are serious, could reduce health costs by around 30 million per year. The Ontario government wants to allow the choice to be open to the people in regards to snow tires. They are doing their best to make education available in part because less than 50% of Ontario drivers have snow tires on their cars.

If the government does implement a plan it could be a great step in showing Ontario citizens leadership. Premier McGuinty is trying to get the government to take a look into a tax credit and the problem as a whole. He is also suggesting that the drivers of Ontario that really need snow tires will buy them regardless of if a tax credit is put in place or not.

It appears that snow is just a huge part of living in Ontario and we should just suck it up and pay our bills.

In these times of financial uncertainty, everyone wants to save a few bucks wherever they can. I am no exception. I have been looking into recycling my water by using two large rain barrels, begging my boss to work a few days at home to save some gas money, downgrade my cable company, just anything that can be done.

I didn’t realize I have been perceived as getting into the fanatic zone until my friend call me with some news he thought I would be interested in. He asked if I had heard of insurance company video-recording their drivers. It seems he had read that insurance companies were video recording their clients and offering discounts.

He asked if I would be interested in being video recorded by my insurance company if it meant I would get a discount in my premium. Now, as I stated before, I am looking to save, but video recording me? What do they mean, do I need to wear something skimpy? No! He explained that the way it works is the insurance company gives you a small device that you place in your car.

This device tracks whether you are the sort of driver that races like a crazy maniac to The Real Canadian Liquor store as soon as they open, or a different sort of driver. Maybe the kind that waits at least an hour after they have started their business.

This gave me some thought; do I really want my insurance company to know how I am driving day and night? After thinking about this I decided that this is great for drivers that drive safely and have nothing to hide. It is only fair that if you are a good driver you should be compensated.

In my case, I will have to wait for another offer. The liquor store is opening soon and I am in a bit of a hurry. Just kidding.