Why get car insurance in London, Ontario?
Having a proper car insurance policy is an extremely important part of being a driver in London. It is against the law to drive a car without insurance. If you decide to get behind the wheel without insurance, you can end up facing serious consequences including substantial fines. Getting caught driving without insurance more than once can snowball into much larger fines, and will raise your insurance premium. These are just some of the reasons why it would be unwise to drive without car insurance.
We have compiled a few benefits to having car insurance in London:
Your vehicle will be protected if you get into an accident
Car accidents are very common, and can happen at any time. They may be your fault, or you may have no fault in the accident whatsoever. Another driver may end up making a mistake that you have no control over, and unfortunately that may lead to serious damages to your car. Having a solid car insurance policy can help cover the costs associated with repairing your car, or even replacing it.
You'll be protected if you are injured in an accident
If you were to get into a car accident and get injured, there might be a lot of costs you don’t expect. Things like physical therapy might not be provided by OHIP. Car insurance might be able to help with these costs.
You could be covered if your vehicle is damaged by something other than a car
There are many natural causes that can ultimately cause damage to your car, including things like bad weather, animals and tree branches. Damage due to natural events are no one’s fault, but they can be very costly to repair. Depending on your coverage, insurance could cover this type of damage.
You could be covered in the event of a theft or vandalism
If someone were to steal your vehicle, break in, or vandalise it, your insurance can help you with repair or replacement costs.
Mandatory Car Insurance in London, Ontario
Mandatory coverage is the minimum coverage that is required on your insurance policy in order to legally drive a vehicle on the road in London. The following types of coverage are mandatory in London:
Liability
If you are found at fault in an accident, liability insurance helps pay for other drivers’ property and bodily injuries. This coverage may also help to cover any legal fees you incur as a result of an accident.
Accident benefits coverage
There are costs associated with an accident other than repairing physical damage to cars or property. Anyone involved in the accident including yourself, your passengers, drivers and passengers in another vehicle and pedestrians might require medical or rehabilitative attention following the accident. Accident benefits coverage will cover these costs.
Direct compensation
Direct compensation takes effect 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 car insurance is mandatory in London, Ontario, some people choose to drive without it. Uninsured automobile coverage offers protection if you are involved in an accident with a driver who is at fault and is either uninsured or doesn’t have enough coverage.
Guide to Determining Car Insurance Rates in London, Ontario
It’s hard to give an estimate of what you will pay for your insurance in London, Ontario. This is because many different factors go into each individual car insurance rate. At BrokerLink, we go through our clients' individual information to make sure that they receive all of the possible savings offered for their circumstances.
Here are a few of the most common factors that car insurance companies consider when determining rates in London:
Your age
Younger drivers tend to have higher premium rates because they fall into a demographic with more accidents. As you get older, your insurance rate will most likely go down.
Your driving record
Having a good driving record can actually save you money! This is because insurance providers see you as a low risk client. On the other hand, having a bad driving record can make your premiums go up significantly.
Where you live
The area in which you live in can affect the price of your premium.
The make and model of your vehicle
Some types of cars tend to be more costly to insure than others. There are many reasons for this. Some cars are statistically more likely to be stolen, and some have more expensive and/or less common parts.
The level of coverage you choose
The level of coverage you choose to have on your vehicle will impact the price of your premium.
Get car insurance in London, Ontario
Wherever you’re driving in London, Ontario, you need the right insurance. A BrokerLink insurance advisor can help you get the coverage you need at a great rate. Don’t do it alone! You can get a licensed professional to help you protect yourself and your loved ones. Call today.
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