Car Insurance in Owen Sound

If you are a driver in Owen Sound looking for car insurance, BrokerLink is here to help. As a full-service brokerage specializing in auto insurance, we can help drivers find great coverage at affordable rates in minutes.

Basic auto insurance coverage in Owen Sound

Every licensed driver in Owen Sound is required to have an auto insurance policy that meets the mandatory requirements declared by the province of Ontario. There are four types of standard coverage included in a basic auto insurance policy: third-party liability coverage, accident benefits coverage, direct compensation - property damage coverage, and uninsured automobile coverage. Read on to learn more about each type and what they offer in terms of protection:

Third-party liability coverage

Third-party liability coverage provides protection if you get into an accident that injures another person or damages another person’s property. Under this portion of your policy, you can receive compensation to pay for medical expenses associated with bodily injuries or repairs of a damaged car, as well as any legal fees or court fees up to the coverage limit. Owen Sound drivers are required to purchase auto insurance policies with no less than $200,000 in third-party liability coverage.

Direct compensation - property damage coverage

Direct compensation - property damage coverage protects an insured car and its contents from the costs of property damage. This type of coverage only applies if the policyholder is not at fault for the accident that caused the damage. This type of coverage gets its name because the insurer typically provides direct payment for the damage caused (such as to repair or replace a vehicle). To receive compensation under the direct compensation portion of your policy, the incident must meet the following criteria: it happened in Ontario, involved multiple cars, and involved at least one car participating in the province’s car insurance program.

Uninsured automobile coverage

Uninsured automobile coverage protects 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 also protects in the event of a hit-and-run. Uninsured automobile coverage covers medical expenses relating to injuries, car repairs due to damage, lost wages, and more.

Accident benefits coverage

If you, a passenger or a pedestrian, require medical attention following a collision, accident benefits coverage comes in handy. Protection is offered regardless of which party was at fault for the collision and can help cover loss of income and medical expenses, such as prescription medications, physical therapy, rehabilitation, and more.

Optional car insurance coverage in Owen Sound

Beyond the necessary coverages mentioned above, drivers in Owen Sound can also add various other types of coverage to their policies. While not required by law, these optional coverages can offer extra protection and peace of mind. Some examples of optional auto insurance coverages available in Owen Sound include the following:

Collision coverage

If you get into an accident with another car or object on the road, no matter which driver is at fault for the accident, collision coverage can help cover the costs. Under the collision coverage portion of your policy, your insurance company can help pay for property damage that resulted from the collision, such as a damaged vehicle.

Comprehensive coverage

For added peace of mind, Owen Sound drivers may include comprehensive coverage in their auto insurance policies. While standard auto insurance coverage in Ontario provides some protection against accidents, it does not protect drivers from many other circumstances on the road. For example, basic auto insurance won’t help if your car is stolen. But if you purchase comprehensive coverage, you can be protected against everything from theft and vandalism to water damage, fire, and more. This means that if your car was stolen, your insurance company would help cover the costs of replacing it rather than having to pay for a new one entirely out-of-pocket.

Accident forgiveness coverage

One final type of optional insurance coverage popular among Owen Sound drivers is accident forgiveness. Accident forgiveness is additional coverage that can be added to your auto insurance policy as an endorsement to protect your driving record and to help prevent your insurance premium from increasing if you have an at-fault accident claim.

Note: coverage varies by province.

How insurance companies calculate auto insurance rates in Owen Sound

Ontario car insurance companies consider several factors when calculating insurance premiums. Owen Sound drivers might find it beneficial to understand which details matter most when calculating the cost of auto insurance. As such, here is a list of important factors we have outlined that impact how much your insurance in Owen Sound is:

  • Where you live (and work - if you drive to work)
  • Age
  • Make and model of vehicle
  • Past claims
  • Annual mileage
  • Driving experience
  • Driving record
  • Prior insurance coverage
  • Your deductible
  • Local laws
  • How you use your vehicle
  • Gender
  • Marital status

How you can save money on Owen Sound car insurance

The fact is, you should never overpay for auto insurance. Our expert insurance brokers at BrokerLink will help you save money by shopping around and comparing several insurance quotes for you. We can even unlock auto insurance discounts to acquire you the best auto insurance rates. Just ask one of our insurance brokers about our top tips for saving money on Owen Sound vehicle insurance. In the meantime, we have outlined a few for you below:

Increase your policy deductible

As a general rule in the insurance industry, raising your policy deductible can lower your premium. A deductible is how much money the policyholder has agreed to pay toward an insured loss before the insurance company steps in. All insurance policies have a deductible and it is up to you to decide what yours will be. Although increasing it is likely to lower your insurance rate, you should only do so if you can afford it. Reach out to speak with a BrokerLink insurance advisor to find out more about the effects of increasing your insurance deductible.

Choose annual over monthly insurance payments

Our second tip to help you save on car insurance in Owen Sound is to pay for your policy annually instead of monthly. Many insurance companies give you the option of paying in one annual instalment or twelve monthly instalments. However, one thing to note is that if you choose to pay in twelve monthly instalments instead of one annual instalment, many insurers charge administrative fees for each payment. As a result, by paying for your policy in one annual instalment instead of monthly, it generally ends up being less expensive.

Bundle multiple insurance policies together

Tip number three for saving money on car insurance is to bundle multiple insurance policies together. Insurance companies frequently reward policyholders who buy multiple policies from them. Therefore, if you are looking to insure multiple cars in your household (e.g. your car and your spouse’s car) or purchase auto insurance in addition to another type of insurance (e.g., business insurance, home insurance, or recreational vehicle insurance), we recommend purchasing it all from the same insurance provider. You could see savings of up to 15% per policy. Contact BrokerLink to learn more about the auto insurance savings that may come with bundling policies.

Instal winter tires on your car

Another way for you to save on auto insurance is by putting winter tires on your vehicle. While snow tires are not required in Ontario, you could be eligible for an auto insurance discount of up to 5% just by installing them on your vehicle. Insurance companies acknowledge that winter tires have superior capabilities to all-season tires, thus reducing your chances of getting into a collision during the winter. If you would like to learn more about a winter tire insurance discount, speak to one of our brokers today. A BrokerLink insurance advisor can explain to you what certain conditions must be met to qualify (e.g. some companies might stipulate that all four winter tires must be the same model or that the tires must remain on your vehicle for a set time period).

Buy a hybrid or electric vehicle

Yes, buying a hybrid or electric vehicle (EV) can save you money on your auto insurance. Many insurance providers across Canada now offer discounts to drivers of hybrid or electric vehicles to help incentive drivers to go green. So, not only will purchasing an EV save you gas money, but it can also save you up to 10% on your insurance policy.

Enrol in driving school

Finally, another great money-saving tip, this one for young drivers or even just drivers who haven’t driven in a while, is to enrol in a recognized Ontario driving school. Luckily, there are many approved driving schools for Owen Sound residents, any of which can teach you the rules of the road and the fundamentals of defensive driving. Driving schools usually also include in-car driving lessons, giving you a chance to practice driving with someone other than a friend or family member. In the eyes of insurers, graduating from a professional driving course makes you a safer, more responsible driver and decreases your odds of getting into an accident. As such, you may receive a driving school discount on your insurance policy.

Compare rates with licensed Owen Sound insurance brokers

When you work with one of BrokerLink's insurance brokers, we can help you save time and money. Our fully-licensed insurance advisors make shopping for auto insurance hassle-free by doing all of the work for you. We pride ourselves on providing unbiased, professional advice and have the necessary resources and expertise to find your ideal policy. When you put your trust in a BrokerLink insurance advisor, you can rest assured knowing you are in excellent hands.

Below are a few reasons you should consider working with a registered Owen Sound insurance broker today:

Brokers operate independently of insurance companies

First, insurance brokers work independently of insurance companies. This means that you can trust us to make you our top priority. Upon getting in touch, you will be matched with a dedicated insurance advisor who will take the time to understand your needs and find an insurance policy that fits your lifestyle and budget.

Brokers do the work for you

The second reason for you to enlist the help of an Owen Sound insurance broker is that they do the work for you. Brokers offer a convenient service, contacting Owen Sound’s top insurance companies and comparing quotes on your behalf. They can also unlock discounts before presenting you with their top options.

Brokers are car insurance experts

One final reason to consult with a licensed Owen Sound insurance broker is the expertise they bring to the table. BrokerLink insurance advisors are fully licensed with years of experience helping Owen Sound residents just like you find quality auto insurance policies. Take advantage of our invaluable expertise and resources by getting in touch today.

Your free Owen Sound insurance quotes are just a click away

Do you want to learn more insurance information about Owen Sound car insurance? BrokerLink can help. You can reach us by phone or email or visit us in person at any of our locations throughout Ontario. We can answer your car insurance questions, explain your coverage and policy options and even provide you with a free quote! No matter how you choose to get in touch, a BrokerLink insurance advisor will be happy to assist you.

Protect yourself with Owen Sound auto insurance by contacting BrokerLink today. We can’t wait to hear from you!


We also invite Owen Sound drivers to take advantage of our online quote tool. BrokerLink offers free quotes to all Owen Sound residents. Simply provide us with some basic information about yourself and your vehicle, such as the make and model, and we will get back to you with an accurate and competitive quote in minutes.

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