Standard Markham auto insurance coverage
Car insurance is required by law in Ontario, however, only certain coverage types are mandatory. The following four coverages are compulsory in all Markham car insurance policies:
Third party liability coverage
Third party liability coverage is the first mandatory component of Ontario car insurance. It provides legal protection in the event that a driver injures someone else or causes property damage to another person’s property, such as their vehicle. This type of coverage can help compensate policyholders for medical bills, vehicle repairs, legal fees, and settlements up to the coverage limit. In Ontario, drivers must carry a minimum of $200,000 in third party liability coverage at all times.
Direct compensation - property damage coverage
Direct compensation - property damage coverage protects an insured vehicle and all the items inside of it from the costs of property damage. To be eligible for this type of coverage, the incident must meet the following three circumstances: it occurred in Ontario, it involved multiple vehicles, and it involved at least one vehicle that participates in the province’s car insurance program. If you make a claim under this type of coverage, the insurance company will likely provide direct payment for the cost of repairs.
Uninsured automobile coverage
Uninsured automobile coverage is designed to protect you and any passengers in your vehicle if you get into an accident with an at-fault driver who is uninsured or underinsured. This type of coverage can also protect the driver if they are the victim of a hit-and-run.
Accident benefits coverage
Lastly, accident benefits coverage comes into play if you, a passenger, or a pedestrian requires medical attention following a collision. This type of coverage can be claimed regardless of who was at fault for the accident. It can help pay for medical expenses, such as prescription medications, physical therapy, or rehabilitation, loss of income, and other associated costs.
How to get cheap car insurance in Markham
Markham car insurance should never break the bank, and BrokerLink is here to help. Our expert insurance advisors are on hand to offer their best tips for saving money on Markham auto insurance. From insuring multiple vehicles together, to installing winter tires on your car, check out some of the top ways to get cheap car insurance in Markham.
Insure multiple cars together
The more policies you buy from a provider, the more likely they are to offer you a discount. So if you own more than one vehicle, insuring them all with the same auto insurance company could save you up to 20% on each policy.
Bundle insurance policies together
Another tip for getting cheap car insurance in Markham is to bundle multiple insurance policies together. Similar to how buying more than one car insurance policy from a single provider can save you money, so can buying multiple types of insurance from the same provider. So, if you are also interested in buying home insurance, business insurance, or insurance for your leisure vehicle (ATV, boat, snowmobile, etc.), purchase them all from the same insurance company together. Doing so could save you up to 15% on each respective policy.
Install winter tires on your car
Did you know that installing winter tires on your vehicle could save you money on Markham car insurance? That’s right, insurers recognize that snow tires make driving in the winter safer, and they will reward you accordingly. Markham drivers who invest in winter tires may save as much as 5% on their auto insurance policy.
Purchase a hybrid or electric vehicle
Lower your carbon footprint while saving on car insurance by purchasing an eco-friendly vehicle. In recent years, insurance companies across Ontario have begun offering discounts to drivers of eco-friendly cars. So if you are finally ready to take the plunge and buy a hybrid or electric vehicle, you could save up to 10% on your Markham car insurance policy.
Pay annually vs. monthly
If it’s within your budget, opt to pay for car insurance annually rather than monthly. Monthly payments often come with administrative fees that make paying annually the more cost-effective option.
Enrol in driving school
Enrol in an approved Markham driving school and you could save money on car insurance. Insurance companies understand that driving schools help produce safe, responsible drivers. As such, if you can prove that you graduated from an accredited driving course, you may be eligible for a discount on your insurance. This is especially important for young drivers as they tend to pay higher premiums.
Consult with a Markham car insurance broker
Our final tip for saving money on Markham car insurance is to work with a broker. Reputable insurance brokers from BrokerLink can let you in on the industry’s best-kept secrets for getting affordable car insurance. Our insurance advisors will take the time to get to know your lifestyle, driving habits, and budget so that we can find a policy that meets your needs. We’ll also work to uncover discounts and promotions you are eligible for, all to find you the most competitive rate for your Markham car insurance. For the most comprehensive coverage at the lowest price, partner with BrokerLink today.
Secure your car with BrokerLink’s car insurance
According to Statistics Canada, Markham is the most diverse community in Canada. This means there is no “one size fits all” approach to car insurance in Markham. The coverage you will need depends on your unique circumstances. A broker will go over all of your options with you, and will take the time to explain everything.
Enjoy freedom from worry
These days, it’s easier than ever to go online and find insurance in a matter of seconds. However, without the advice of an expert, it can be difficult to know whether you have the right coverage. If you go with an insurance broker, you’ll have an insurance expert who takes the time to get to know you and ask all the right questions. You’ll walk away with confidence, knowing if an accident does occur, you and your loved ones won’t have to stress about insurance.
Compare competitive rates from BrokerLink
Some people don’t have a full understanding of the difference between an insurance broker and an insurance agent. Insurance agents work for one insurance company and can only sell that company’s insurance. Insurance brokers are independent, and can sell policies from different insurance companies. Here are a few advantages of going with a broker:
- Brokers are independent. That means we work for the customers, not for the insurance companies. We can give you completely unbiased advice at any stage of the insurance process: when you’re looking to buy, getting ready to renew or going through a claim.
- Brokers do the shopping for you. As brokers, we have easy access to different insurance companies and their rates. On your own, it can be really time consuming to visit different websites or call around to all the different insurance companies. We can do that work in just a few minutes, giving you a variety of competitive quotes to choose from.
- Brokers know all the ins and outs of insurance. That means we have the inside scoop on discounts and promotions. Which means going with a broker saves you not only time but money as well!
Get the best Car insurance rates in Markham
At BrokerLink, we don’t just work in the communities we serve. We live there as well. This means we really know about specific issues that might affect your insurance. Wherever you’re driving in Markham, you’ll know that we’ve got you covered.
Should I get a Highway 407 ETR transponder?
Many of our customers who are looking for car insurance in Markham ask us for our opinion on the Highway 407 ETR transponder. For those who need an explainer:
A transponder is a small electronic device you attach to the inside of your windshield behind the rear-view mirror. With a transponder, your tolls on Highway 407 are calculated electronically and applied to your account. Those who drive on Highway 407 without a transponder are charged using a camera that recognizes license plates.
Is a transponder worth it?
There is a monthly or annual fee associated with the transponder, plus an additional charge per kilometre. The cost of taking the 407 can add up pretty quick. But let’s face it: sometimes the thought of sitting in traffic for hours after a long day of work is just too much.
If you take the 407 more than six times per year, you will save money with a transponder. If you prefer to save your money, try to avoid rush hour, and save the 407 trips for special occasions.
Another helpful hint about driving in Markham
Us brokers have your best interest at heart. That’s why we have a special tip just for you! Did you know that parking in Markham’s Unionville neighbourhood is free? You can park behind any of the Main Street shops. Just be sure to watch for pedestrians.
Four tips for new drivers in Markham
Driving can be challenging, especially if you are new to it. But with regular practice, you’ll grow into a safe and confident driver in no time. To help you improve your driving skills, we’ve compiled the following list of tips for new drivers in Markham.
Avoiding distractions is key to being a responsible driver. Given that distracted driving is one of the leading causes of collisions, motorists should do their best to concentrate on the road at all times. This means no eating, drinking, channel surfing the radio, or turning around to chat with your passengers while driving. Before you pull out of the driveway, we recommend making sure everything is ready to go. Switch the radio station to a channel you like, set up your GPS, and most importantly, put your phone away so it’s out of sight. This will allow you to direct your full attention towards the road.
Attend driving school
Enrolling in an approved Ontario driving school is a fantastic way to learn about the rules of the road while gaining practical driving experience. Plus, driving with a professional instructor is a great opportunity to practice with someone other than a parent or other family member. Even better, young drivers who complete an official driving course in Markham may be eligible for discounts on their car insurance (a major bonus as insurance premiums are often highest for young drivers).
Tip number three is to drive slowly. Statistics show that teenage drivers are more likely to speed than other age groups. Speeding can be extremely dangerous as it gives you less time to stop safely, thereby increasing your odds of getting into an accident. In contrast, if you drive slowly, you’ll have more time to react to a situation, reducing your chances of getting into an accident. Young drivers should always drive the speed limit or below it when driving in poor weather such as snow, rain, or fog, at night when there is reduced visibility, or through a busy pedestrian area.
Give yourself space
One final piece of advice to young drivers in Markham is to give yourself extra space on the road. Try to maintain a distance of two car lengths between yourself and the car in front of them. This way, if you have to stop suddenly or are rear-ended, you are less likely to hit another car. Giving yourself extra space is especially important when driving at high speeds or in poor weather conditions when brake times can be delayed.
Take advantage of BrokerLink’s Markham car insurance calculator today
Still have questions about auto insurance in Ontario or want to receive a free Markham car insurance quote?
BrokerLink insurance advisors are available to take your calls, respond to your emails, or chat in person at one of our many community branches throughout Ontario.
We also encourage motorists to take advantage of our free Markham car insurance calculator. Click the “Get a quote” button on this webpage to get started. From there, you’ll be required to input some basic information about yourself, such as your age, address, and vehicle type, and within minutes you’ll receive an accurate and competitive car insurance quote.
So what are you waiting for? Begin your Markham auto insurance journey by contacting BrokerLink today.
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How much does car insurance cost in Markham?
The cost of car insurance depends on many different factors. A broker will consider where in Markham you live, your driving record and how long you’ve been driving. Because there are so many factors that affect insurance, it’s hard to give a ballpark figure. Once your broker has some more information, they will be able to give you an accurate quote.
Do you need car insurance in Markham?
Short answer: yes! Long answer: if you drive in Canada, car insurance is the law. It protects you, the people in your car and everyone else on the road. Driving without insurance isn’t just irresponsible, it’s also illegal.
How do I buy car insurance Markham?
There are a few different ways to buy insurance in Markham. You can buy it yourself online. You can go with an insurance agent who can only sell you insurance from one company. We think the best way is to go with an insurance broker. A broker can get you competitive rates and the right coverage. Best of all, we’re experts, so you’ll walk away with confidence, knowing you have the insurance you need.
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