Why buy car insurance in Oakville, Ontario?
Not only is it extremely important to carry car insurance in Oakville, but it is mandatory. Drivers in the city are required to carry coverage and it is illegal to drive without the provincial minimum. You can be fined serious amounts if you are caught behind the wheel without valid insurance. In Ontario, you must carry liability insurance, direct compensation property damage, and accident benefits coverage, but you will have the opportunity to purchase additional coverages, like collision coverage, comprehensive, etc.
There are lots of benefits to having car insurance. Oakville drivers may find it helpful to know the following:
You will have protection if you get into an accident and are injured
There can be a lot of costs that OHIP doesn't always cover if you are involved in an accident and are injured. Things like physical therapy and rehabilitation expenses can be covered by your accident benefits coverage, which is a mandatory component of your auto insurance in Oakville. You have the option to increase this coverage as well.
You could have protection if your vehicle is damaged by something other than a collision
Comprehensive insurance includes coverage for the cost of repairs or replacement if your vehicle is damaged as a result of something other than a collision. This can include things like bad weather, falling tree branches, or even rampant wildlife. It's no one's fault when natural disasters damage a vehicle, but it can be costly.
You could have coverage if you are the victim of vandalism or theft
If someone were to break into your vehicle, vandalize it, or even steal it entirely, your auto insurance in Oakville would help you cover the cost of repairs or replacement. Vandalism and theft coverage is a part of comprehensive coverage, which auto insurance companies offer as an add-on to an existing policy.
Your vehicle will have protection in the event of a collision
Unfortunately, car accidents are more common than you might think, and one could happen at any time. You could be at-fault, or you could have no responsibility in the accident whatsoever. No matter the case, you'll still end up with a damaged vehicle. Collision insurance is an optional add-on to your car insurance in Oakville and is designed to cover the cost of repairs and replacements if your vehicle is damaged in an insurable accident.
Mandatory Car Insurance in Oakville, Ontario
In Ontario, you must carry car insurance. Oakville drivers must have specific coverages on their policy. On top of those coverages, you have the option to purchase enhanced optional protection, such as collision, comprehensive, etc. The following types of coverage are mandatory in the city of Oakville:
Accident benefits coverage
If you are involved in an accident, there are costs associated with that incident besides the physical damages. If anyone involved in the accident including yourself, pedestrians, other drivers, your passengers, or the passengers in another vehicle are injured and require medical attention following the accident, your accident benefits coverage will cover those costs.
Uninsured automobile coverage
While auto insurance is required in Oakville, Ontario, some people opt to drive without it - illegally. Unfortunately, these people still face the very real risk of being involved in an accident. Uninsured or unidentified automobile coverage protects you if you are involved in an accident with another driver who is deemed at-fault and is uninsured or underinsured.
Direct compensation property damage
Direct compensation kicks in when you or your car is damaged in an accident and you are deemed not at-fault. It gets its name "direct compensation" because you deal directly with your insurance provider to acquire any needed compensation following a claim.
Liability
Accidents happen. If you're found to be at-fault, your liability insurance will help pay for other drivers' damages and injuries. Your liability insurance also kicks in to cover any legal fees that you could incur as a direct result of an accident.
How Auto Insurance Rates in Oakville, Ontario Are Calculated
It's difficult to estimate the exact cost of what you'll pay for you car insurance in Oakville, Ontario. There are many different variables that factor into each individual's car insurance costs. At BrokerLink, we use our client's unique information to ensure that they may receive every possible saving that they are eligible for.
Here are a few of the most common factors that car insurance companies consider when calculating car insurance costs in Oakville:
Your age
Young drivers (25 and under) may be classed as high risk drivers due to their inexperience. They fall into a demographic that sees the highest auto accidents. With time and as you age, you will benefit from lower premiums.
Your insurance history
If you have filed multiple claims over a short period of time, or if you have submitted a lot of claims for high cost losses, you may be labelled higher risk. If you are claims-free or have made very few claims, your claims may be lower.
A continuous insurance history always bodes well. If you have a track record of missing payments or a lapse in your coverage, you might be looking at higher rates.
Your driving record
Being a good driver always pays! Insurance providers will see you as a lower-risk client if you have a clean record. Oppositely, if you've been involved in a lot of accidents or received a lot of moving violations, your insurance premiums will be higher.
Where you live
If you live in a location that tends to see high crime rates, congested traffic, and higher accident statistics, your insurance premiums may be affected.
The level of coverage you choose
The level of coverage, or your coverage limits, will impact your insurance costs. The more coverage you purchase, the more your insurance will end up costing you. It is highly recommended you avoid slashing coverage to make your insurance more affordable since a $1 million liability limit and a $2 million liability limit actually don't have a huge cost difference.
The make and model of your vehicle
Vehicles that are costlier to repair and have lower safety ratings may be more expensive to insure than vehicles with low theft ratings, high crash test scores, and are less expensive to repair. If you are on a tight budget, be mindful of this when purchasing your car.
For cheaper insurance in the city of Oakville, a BrokerLink insurance advisor is one of your best resources. Our experts help you compare car insurance quotes between numerous providers so that you are only ever assigned with the best possible car insurance premium.
How to Lower Your Oakville Auto Insurance Premiums
Looking for ways to lower auto insurance premiums however you can? Oakville BrokerLink's advisors are ready to help. We are committed to delivering second-to-none experiences and part of that journey is helping you find the best price.
A licensed broker from BrokerLink will be more than happy to assist you when it comes to selecting your unique insurance coverage. We'll give you advice on loyalty discounts, ways to save based on your circumstances, and more.
Compare quotes with BrokerLink
Getting cheaper car insurance in Oakville is a challenge without an expert. BrokerLink's advisors can help you compare quotes to find the best car insurance premiums. We will help you until you can find the Oakville insurance company that you are satisfied with, as well as give you deeper insights on coverage options, discounts, and more.
Be mindful of the make and model of the car you buy
Some vehicles are far pricier to insure than others. This comes down to the safety rating of your vehicle, its thef likelihood, and how expensive it would be to repair in the event of a loss. If you are still in the process of purchasing a vehicle, keep in mind the kind of car you're buying with respect to insurance costs.
Take a defensive driving course
Young drivers tend to see much higher rates than those 25 and older with more experience behind the wheel. In Canadian insurance history, this simply boils down to statistics. Taking an approved defensive driving course can help reduce your rates, as some insurance companies will offer discounts for eligible courses.
Try usage-based insurance
Telematics insurance or usage-based insurance is an option that some companies offer, which operates by tracking your driving behaviour and habits. Good driving habits - i.e., sticking to the speed limit, accelerating carefully, avoiding hard cornering, etc. - may be rewarded with an insurance discount. It's a good option for experienced drivers.
Use alternative transport
Many providers will offer discounts for low mileage, usually capping at about 11,000km/year. If you do not drive much or would like to drive less to potentially qualify for a low mileage discount, consider using alternative transport, like biking, buses, carpooling, etc.
Select a higher deductible amount
Your deductible is your percentage of risk that you take on. It's represented in a number amount, typically $250-$1,000. The higher the deductible amount, the less risk your insurance company has to take on. They may reward you for this by reducing your rates. Consider raising a $250 or $500 deductible to $1,000 for lower premiums.
Purchase multiple policies through the same insurer
Some insurance companies will offer discounts for return customers. As an example, consider purchasing your tenant or home insurance through the same provider as the one that supplies your auto insurance in Oakville. You may be able to save 5-10%.
The same goes for if you have multiple vehicles. Consider insuring your additional vehicles all through one provider.
Maintain a good credit history
By paying your bills on time, keeping your credit balance low, and avoiding acquiring any more credit than you need, you can maintain a good credit history. Some insurance companies will do a soft check of your credit history and having a good credit score can reward you with a discount on your auto insurance.
Find affordable car insurance in Oakville, Ontario
For vehicle owners in Oakville, auto insurance is required by law. It's an inevitable cost, but it certainly does not have to break the bank! Getting affordable car insurance in Oakville is possible with the help of a BrokerLink insurance advisor. We meet all your insurance needs in a simple and convenient fashion, so you don't have to do it alone. A licensed professional is at the ready to help you protect yourself and your loved ones. Give us a call today and get your own free Oakville car insurance quote.
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Local Ontario Insurance Links
If you’re a member of a group or association, you may be eligible for more discounts.
About BrokerLink
At Oakville BrokerLink, we are excited to begin meeting your insurance needs, whatever those may be. We help you find insurance solutions, whether you need your home, car, business, recreational items, or even your pets covered. We are dedicated to selecting the best coverage possible for your situation.
In Oakville, finding the best car insurance is easy with BrokerLink. We have a unique way to make sure you get the right insurance. It begins with our local insurance brokers working with you to determine just the right coverage. We determine your auto insurance needs, then do a comparison shop among a variety of options to find the right amount of protection at the best possible price. Quality providers give us free competitive quotes you can review. And you can count on car insurance options that can help protect your good driving record, along with claims service guarantees. You can also count on getting the best insurance coverage at the best possible price with BrokerLink experts.
So whatever you drive on the highways and byways of the GTA; a car, SUV, minivan or truck, personal or business vehicle, single vehicle or fleet – you'll enjoy peace of mind with coverage that fits your needs. We tailor your insurance to your specific needs so that you only pay for what you need and want. As the experts at taking care of you and your insurance needs, we'll find you the best rate possible. We can even bundle your home and auto insurance together to save you money.
BrokerLink is ready to help when you want to begin. Apply for a free Oakville car insurance quote or give us a call today.
We're in your community
We love to get involved in the community, and it's a big part of who we are. We work and live within your community and always love to meet our neighbours.
Why work with a BrokerLink broker
As you're on the hunt for an auto insurance broker in Oakville, BrokerLink should be your first choice. We've been doing our best since 1991 to help Canadian drivers find cheap car insurance. Since we live in the communities that we serve, we understand what coverage will make the most sense for you and your family. As one of Canada's largest insurance brokerages, you can depend on us to help you protect your most valuable assets.
Oakville car insurance quotes are just a few clicks away. Begin on affordably priced auto insurance premiums with BrokerLink's assistance.
Contact Us
Need to get in touch? You can reach us by email, phone, or in-person at any one of our locations throughout the province. Regardless of your contact method, a BrokerLink insurance advisor will be happy to help. We recommend taking advantage of our free online quote tool that helps you obtain a competitive quote in just minutes.
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Oakville Car Insurance FAQs
Finding your auto insurance policy difficult to understand? We're here to help.
At BrokerLink, we're in your corner. We work hard to serve our neighbours by presenting them with unparalleled insurance advice, whether that's helping them choose between coverage options or aiding them in finding the cheapest car insurance.
Read on to see our answers to some of our most frequently asked questions about auto insurance in Oakville:
Does address affect car insurance rates in Oakville?
Yes, your address is something insurance companies consider when determining your premium. However, don't plan on moving just yet! There are things you can do to reduce your insurance premium such as bundling your home and auto policy, or taking a driver's education course.
Is car insurance mandatory in Oakville?
Yes, it is mandatory for all drivers to have auto insurance in the city of Oakville, and throughout all of Ontario. It is illegal to operate a motor vehicle on public roads without coverage.
When is the best time to purchase car insurance?
It's a good idea to shop around for car insurance at least once a year to see if you can save money. If you have had a long period with a good driving record, this can also be a time to lock in a good car insurance policy. If you were involved in a recent accident, let some time go by before you start shopping around again.
How does driving history impact my car insurance in Oakville?
Driving history is used to gauge your odds of being involved in future accidents. If you have a history of moving violations and at-fault accidents, you will likely see higher premiums than if you had a clean driving history. Accidents may stay on your driving record for 3-6 years, depending on severity.
Does my Oakville auto insurance cover me in the event of a hit-and-run?
If a driver causes damages to your vehicle and they cannot be identified, your claim will likely be paid out through your collision coverage. You will, unfortunately, be required to pay your deductible. If the driver can be identified, the loss may then be paid out through the direct compensation property damage portion of your policy.
Will I receive a discount if I use winter tires?
Some insurance companies will reward you for the use of winter tires, so long as you put them on your car between the months of October-December. Different companies may have different requirements or end dates.
What insurance do I need to cover a rental vehicle?
There's a few different ways you can insure a rental vehicle. The rental company through which you rented your vehicle may offer insurance, but that can be expensive. Some rental companies will charge between $50-60/day for their insurance! In addition, that insurance is designed to cover their investment and not you, so you can expect the protection to be limited.
Your credit card may also offer insurance for rental cars. Again, this coverage can be limited, so it's the user's choice. Some credit cards offer coverage, but not all. Be sure to check before you make any assumptions about what is and isn't covered.
Finally, you may be able to purchase an endorsement for rental car coverage known as OPCF 27: Liability for Damage to Non-Owned Automobile(s). This coverage applies when you are driving vehicles you do not own and is a great option for people who often rent vehicles or borrow vehicles from others.
Will collision insurance cover me if I hit a street post?
Yes. Collision coverage is designed to cover accidents with other vehicles as well as stationary objects, which applies if you hit a street post. It may also offer coverage if you drive off the road. It generally comprises damage for situations when you are driving.
For more FAQs, visit the BrokerLink FAQs page.
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