Car Insurance in Strathroy

Accident benefits coverage is for when someone is injured in a car accident. If you, a passenger, or a pedestrian is injured in a collision, you will need medical attention. However, medical costs can be high, especially those not covered by health insurance. That’s where accident benefits come in. It can compensate policyholders for medical fees not covered by health insurance, such as prescription medications or physical therapy. It can also cover related expenses, like funeral fees and lost income.

Uninsured automobile coverage will pay for the cost of a collision if you are involved in an accident with a driver who falls into one of these categories: uninsured, underinsured, or anonymous. In other words, if you collide with a motorist who does not have car insurance, who does not have enough insurance to pay for the cost of the accident, or who flees the scene, you can file an uninsured automobile claim to pay for the damage.

With direct compensation coverage, you can receive a payout directly from your insurer if your car is damaged in an accident. Please note that you can only file this type of claim if you were not at fault for the accident.

Collision car coverage can help pay to repair or replace your car if it is damaged in an accident. For example, if your car is severely damaged or even totalled, you can file a collision claim that helps you pay for the cost of fixing your car. The good news with collision coverage is that it can be claimed whether you caused the accident or not, as well as whether the collision was with another car, object, or animal on the road.

Comprehensive car coverage is another type of extra protection that many Strathroy motorists opt for. Why? It protects against risks other than collisions. Where most types of car insurance are designed to protect drivers from the financial burden of collisions, comprehensive coverage deals with the risks of a parked car. Remember that your car is at risk of loss or damage even when it is parked or in storage. Comprehensive coverage will safeguard you against theft, vandalism, and damage caused by falling or flying objects, explosions or riots, fire, and other weather-related incidents. Review the list of insured perils in your policy to confirm what risks you are protected against.

One more type of optional car insurance coverage popular among drivers in Strathroy is accident forgiveness. Accident forgiveness is additional coverage that can be added to your car 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 and eligibility vary by province.

A waiver of depreciation, which is sometimes referred to as replacement car insurance, is an extra endorsement that can be added to Strathroy car insurance plans. It comes into play if your car is totalled in an accident and your insurer deems it a write-off. When your insurance company issues you a payout to help you replace your written-off car, it will likely be much higher with a waiver of depreciation.

Comparatively, actual cash value coverage, which takes into account depreciation, will result in a much smaller payout. This coverage is typically only offered to brand-new vehicles within one model year, as they will depreciate the most in value.

Loss of use coverage can come in handy for many Strathroy drivers. Specifically, it comes into play if your car is damaged in a collision and needs to go into the shop for repairs. During this time, you would be without your car, which is not only inconvenient but could be expensive if you are forced to take taxis or rent a car in lieu.

That’s where the loss of use coverage proves worthwhile. With this type of coverage added to your policy, you can be reimbursed for any transportation expenses incurred while your car is in the shop, ranging from rental car bills to taxi or rideshare receipts.