Are you under age of 25 or new driver?
Have you just got a G2 driver license?
Is your insurance renewing soon?
Are you adding additional vehicles?
Do you have winter tires for your vehicles?
At Insurance Brokers, we provide Car Insurance solutions that best match your lifestyle and needs. It is important to us that we get to you so we are able to provide advice on how car insurance works and applies to each individual.
Our goal is to provide you with the best coverage and value for your vehicle Insurance needs.
Your car insurance quote is based on the following factors:
It’s the Law!
Ontario law requires that all motorists have auto insurance.
Fines for vehicle owners, lessees and drivers who do not carry valid auto insurance can range from $5,000 to $50,000.
If you are found driving without valid auto insurance, you can have your driver’s licence suspended and your vehicle impounded.
What’s in a Standard Auto Insurance Policy?
If you own a vehicle in Ontario, you are required to, at the very least, purchase the following automobile insurance coverage:
Third-Party Liability Coverage:
This section of your automobile insurance policy protects you if someone else is killed or injured, or their property is damaged. It will pay for claims as a result of lawsuits against you up to the limit of your coverage, and will pay the costs of settling the claims.
Statutory Accident Benefits Coverage:
This section of your automobile insurance policy provides you with benefits if you are injured in an automobile accident, regardless of who caused the accident including supplementary medical, rehabilitation, attendant care, caregiver, non-earner and income replacement benefits.
Uninsured Automobile Coverage:Protects you and your family if you are injured or killed by a hit-and-run driver or by an uninsured motorist. It also covers damage to your vehicle caused by an identified uninsured driver.
Extra Coverage for Loss or Damage to Your Vehicle
In addition to the standard policy coverage you may also buy extra coverage for loss or damage to your vehicle including:
Specified Perils Coverage:
This coverage pays for losses caused by one of the following perils: fire; theft or attempted theft; lightning, windstorm, hail, or rising water; earthquake; explosion; riot or civil disturbance; falling or forced landing of an aircraft or parts of an aircraft; or the stranding, sinking, burning, derailment or collision of any kind of transport in, or upon which an insured vehicle is being carried on land or water.
This coverage pays for losses, other than those covered by Collision or Upset, including perils listed under Specified Perils, falling or flying objects, missiles and vandalism.
Collision or Upset Coverage:
This coverage pays for losses caused when an insured vehicle is involved in a collision with another object, including another vehicle, or rolls over. “Object” includes: another vehicle or a trailer that is attached to the vehicle that is covered by your insurance policy; the surface of the ground, and any object in or on the ground.
All Perils Coverage:
This combines Collision or Upset and Comprehensive coverages. In addition, it covers loss or damage caused if a person who lives in your home steals the vehicle that is covered by your insurance policy. All Perils also covers you if an employee who drives or uses, services or repairs that vehicle, steals it. For example, if you take your vehicle to a garage for repairs and an employee involved in the repair of your vehicle steals it, All Perils would cover you.
Note: A deductible may apply to all of the above coverages.
Other Optional Enhancements to Your Coverage
Additional optional enhancements, also known as policy endorsements or Ontario Policy Change.
Forms (OPCF), are special agreements that allow you to change, add or reduce the amount of coverage for certain situations.
The six most common policy endorsements are:
Rented or Leased Vehicles (OPCF 5):
This endorsement extends coverage to a vehicle that you drive, but that is owned by a leasing company.
Loss of Vehicle Use (OPCF 20):
This coverage covers the cost of a rental vehicle while your vehicle is being replaced or repaired, if the damage or loss is caused by a peril for which you are insured.
Liability for Damage to Non-Owned Automobile(s)(OPCF 27):
This endorsement provides physical damage coverage to vehicles that you may operate but do not personally own – such as a vehicle that you have rented or borrowed – subject to a deductible.
Removing Depreciation Deduction (OPCF 43):
This coverage removes the insurer’s right to deduct depreciation from the value of your vehicle when settling a claim for loss or damage caused by a peril for which you are insured.
Family Protection Coverage (OPCF 44R):
This coverage protects you, or an eligible member of your family, to the same limits as your Third-Party Liability coverage if you are involved in an automobile accident where you are not at fault, with someone who carries less insurance, no insurance, or is an unidentified driver (e.g., hit and run).
Added Coverage to Offset Tort Deductibles (OPCF 48):
This endorsement reduces the deductible associated with court awarded compensation for pain and suffering to $20,000 from $30,000, and for Family Law Act claims to $10,000 from $15,000.
Source: More information fsco