Car insurance in Burlington, Ontario
Mandatory car insurance coverage in Burlington
Burlington’s car insurance coverages are governed by Ontario law. As required by the province, every driver must have at least the minimum car insurance coverage. Here are the coverages required by Ontario law:
Liability
Liability insurance is an important part of any car insurance policy. It helps pay for other drivers’ property and bodily injuries if you’re found at fault in an accident. This coverage can also help to cover any legal fees you might incur as a result of an accident.
Accident benefits coverage
Costs associated with an accident don’t end right after the accident occurs. You, or the other people involved such as passengers or pedestrians, might require medical or rehabilitative attention following the accident. Accident benefits coverage will cover these costs.
Direct compensation
This coverage compensates you when you or your car is damaged in an accident where you are not at fault. It is called direct compensation because you deal directly with your insurance provider to acquire any compensation following a claim.
Uninsured automobile coverage
Even though insurance is mandatory in Canada, some people choose to get behind the wheel without it. Uninsured automobile coverage protects you and any of your passengers if you are involved in an accident with a driver who is at-fault and is either uninsured or doesn’t have enough coverage.
Optional Car Insurance Coverage in Burlington
The following types of coverage are not required by the law for any drivers located in Burlington. However, many people choose to add these coverage options to their policy. Having this additional protection can provide you with more peace of mind. While there are quite a few different coverage options available, we have listed a few of the most popular down below:
Comprehensive
A car accident is not the only risk that you and your vehicle may face. You may find that your car becomes damaged due to things like fires, theft, vandalism, bad weather or even water damage. Comprehensive coverage can protect you in the event of any of those things.
Collision
Collision coverage will protect you if your car is damaged in a hit and run accident. It will also help pay for damages to your vehicle if it is involved in a collision with another driver or object.
Accident forgiveness
If you are involved in your first at-fault accident, having this coverage on your policy will help you to maintain your good driving record for as long as you stay with the same company. Accident forgiveness ensures that your premium rate won’t go up as a result of your first at-fault claim.
Waiver of Depreciation
If you are in the market for a brand new vehicle, this coverage is definitely something that you should consider having on your policy. Waiver of Depreciation coverage, covers you for the value of your vehicle without depreciation. In the event of a theft or total loss claim, you’ll be reimbursed for the full value of the car, effective from the date when you drove it off the lot.
How Are Car Insurance Rates in determined in Burlington?
Car insurance policies can vary in cost. Many different factors determine each rate. At BrokerLink, we go through our clients' individual information in order to make sure that they receive all of the possible savings offered.
The following factors are a few of the most common that insurance companies consider when determining rates in Burlington:
- The level of driving experience you have: If you don’t have a great deal of driving experience, you may have a higher rate. As you gain more experience, you may notice your rate start to go down, especially if you can avoid accidents.
- Your claims history: Insurance companies take your previous claims into account when determining your rate.
- Your address: Where you live is another factor that will determine your rate. That’s because accidents and claims are more likely in certain areas.
- Your vehicle: Some vehicles are more expensive to insure than others. There are many reasons for this, including the fact that some cars are more prone to theft, and some have more expensive and/or less common parts.
- The amount of coverage you purchase: The level of coverage you choose to have on your vehicle will impact the price of your premium.
Contact BrokerLink today to obtain car insurance in Burlington, ON
It’s easy to get your car insured in Burlington! Simply get in touch with one of BrokerLink’s insurance experts. We will help you find a policy that fits at a price that’s fair. Here’s how you can get in touch:
FAQs on car insurance in Burlington, Ontario
What happens to me if I’m deemed a “high-risk” driver?
If you are deemed a high-risk driver, you will still be able to obtain insurance in Canada. However, if you have multiple claims, you will most likely have a higher than average insurance rate. You will also most likely have to go through an insurance broker to find insurance.
I’ve heard of underwriting rules when it comes to car insurance, but what are they exactly?
In Ontario, underwriting rules are guidelines an insurance company uses to decline either some or all coverage. Underwriting rules may also limit coverage by offering a higher deductible or lower liability. These rules must be submitted to the government body in charge of car insurance for approval.
Are there any penalties I should know about if I decide to cancel my car insurance policy in the middle of the term?
If you cancel your car insurance early, you will most likely have to pay a fee. The fee varies depending on your policy and the insurance company you’re with. Talk to your insurance broker to learn more.
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