What is the role of a car insurance broker in Newmarket?
There is some confusion about what exactly a car insurance broker does. An insurance broker is independent, and has the ability to sell insurance from multiple insurance companies. A broker’s priority is the customer, not the insurance company, so you can rest assured we’re always doing what’s right for you.
In addition, BrokerLink brokers live in your community. This means we live in the same neighbourhoods and drive on the same roads as you. It allows us to find you insurance that makes sense for your life.
What car insurance do I need in Newmarket?
In Canada, car insurance is required by law. This protects not just you, but your loved ones and everyone else on the road as well. Insurance is regulated by provincial governments, and in Ontario, there are four mandatory types of coverage:
This type of coverage protects you if you injure someone else or their property while you are behind the wheel.
Accident Benefits Coverage
If an accident takes place, the costs don’t end at the repairs to the vehicles involved. You might also have to pay for medical bills or rehabilitation that results from the accident. This type of coverage will pay for those bills.
This is the coverage that kicks in when you are not at fault. It’s called direct compensation because you deal with your own insurance company. They will reimburse you for any costs you incur as a result of the accident.
Uninsured Automobile Coverage
Not everyone is responsible. Some choose to drive without insurance. If this is the case, and you are involved in an accident with an uninsured person who is at fault, this coverage will kick in.
Additional car insurance coverage in Newmarket
Above, we listed the coverages that are required by law. For some, the legal requirements are not enough. Many people choose to add to those coverages. More coverage can give you more peace of mind as you cruise the streets of Newmarket. Here are some of the additional coverages BrokerLink offers to Newmarket drivers:
This insurance covers you if you are involved in an accident with another vehicle or object on the road.
All perils is the most coverage you can get for your vehicle. It includes collision and comprehensive.
Accidents happen. If you have an accident-free history, this coverage ensures your first accident is forgiven. Your premiums will not go up as a result.
What happens if I drive without car insurance in Newmarket?
There are serious consequences to driving without car insurance. In Ontario, your first offense will result in a fine of at least $5,000. If it’s your second offence, fines start at $10,000. You will also face additional fees, including a surcharge of 25 per cent and any impound fees.
You also risk license suspension if you drive without insurance. If you are caught driving without insurance, your license will be suspended for at least thirty days and up to a year.
Driving without insurance could affect your ability to get insurance for years. It is not a risk worth taking.
How can I pay less for car insurance in Newmarket?
Car insurance is a cost you can’t avoid. But there are a few tips and tricks that will make sure you’re not paying more than you need to:
- Shop around: One way to save money is by comparing prices from different insurance companies. At BrokerLink, we do that for you. It’s how we get you the best price.
- Pay once a year: You can save on administrative fees by paying annually instead of monthly.
- Increase your deductible: If you raise your deductible to $1,000, you could receive a reduced monthly premium.
- Combine vehicles into one policy: Is there more than one car in your household? If so, consider insuring them all under one policy. Doing so can save you 10-20 per cent.
- The bundle is your friend: Do you own a home or cottage? If you bundle other policies with your car insurance policy, you can walk away with savings on both policies.
- Install winter tires: Winter tires can make driving safer in the winter months. It can also make you eligible for discounts of up to five per cent.
- Install a car alarm: A security system in your car can result in additional savings. Talk to your broker about approved systems and devices.
- Yearly insurance check-up: Every year you should look at your policy do a check-up. Do you still need all the coverages? Do you need any additional coverages? Talk to your broker to make sure you have the coverage that makes the most sense for you.
- Go to driving school: Is there a new driver in your family? You might want to teach them yourself, but resist the temptation. Get them in driving school to be trained by a professional. The discounts you’ll receive in the first year often amount to the cost of enrolment, so it is a worthwhile investment.
- Take advantage of new technologies: Some car insurance companies have technologies that monitor your driving habits. Things like hard braking, speeding and use of your phone while you drive are monitored. Those with good driving habits are rewarded with discounts of up to 25 per cent. Ask your insurance broker how you can take advantage of technology like this.
The best place to find car insurance in Newmarket
BrokerLink brokers are ready to find you the best car insurance in Newmarket. We will take the time to get to know you, and we will recommend insurance that fits your life. You’ll get exactly what you need, and you’ll walk away with peace of mind knowing you’re protected. We also encourage you to take advantage of our free online quote tool, which can provide you with a competitive quote in minutes.
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How much does car insurance cost in Newmarket?
A lot of factors influence the cost of car insurance. Your age, postal code and driving history are just a few things your insurance broker will ask you about. This makes it difficult to estimate the cost.
Why do I need car insurance in Newmarket?
Most important reason: it’s the law. In Ontario, it is illegal to drive without insurance.
For more FAQs, visit the BrokerLink FAQs page.
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