Every year, Ontario drivers are tasked with reviewing their current car insurance coverage and deciding if they are still receiving the best price. But how do you know if your premium is still a fair price? You may decide to look for quotes to switch your coverage at renewal, or when major life events happen. Big changes, like moving to a new residence or purchasing a new vehicle, can affect your insurance rates. The good news is, if you need a quote for auto insurance, it’s faster and easier than ever. At isure, we’ve got you covered with this guide to applying for car insurance quotes, wherever you’re at.
What do you need to apply for car insurance?
When you are looking to apply for car insurance, the insurance company will require information in order to determine your rates. These factors can be broken down into three categories:
1. Vehicle information
- Vehicle make, model, and year
- The main use of the vehicle (for work or pleasure)
- Expected usage (mileage)
2. Driver information
- Full name
- Postal code – If you live in an urban centre, like downtown Toronto or Vancouver, your premiums will most likely be higher due to the increased risk of an accident.
- Gender
- Date of birth – Younger drivers (under 25 years of age) are seen as a higher risk by insurers, as too are retirees.
- Marital status
- Licence information
- Licence type – The type of licence you have determines the type of vehicle you are allowed to drive and be insured for. For a complete breakdown of the types of licences available, please click here.
- Type of car driven – If your vehicle is prone to theft or accidents, or is expensive to repair, you will most likely pay higher premiums.
You should also take note of the physical condition of your car and mention any existing damage. Insurance companies may also want to know if it’s four-wheel drive or two-wheel drive if they don’t have that vehicle information in front of them during the quote.
- Date G1/G2/G was obtained
- Licence suspensions – While your licence is suspended, you won’t be able to purchase auto insurance in Ontario. After which, insurance providers will consider you a “high-risk driver” – a factor that will increase your insurance rates by at least 10%, and as much as 50%.
- Completion of a Canadian driver training course – new drivers are encouraged to take drivers education courses to better prepare them for driving and as an added perk, discounts are available to those that do.
- Accident/ticket/claims history – Traffic tickets are divided into three categories:
- Minor
- Major
- Serious convictions
- Each of these types can affect your rates, regardless of the number of demerit points or the severity of the fine associated with the traffic infraction.
3. Insurance history
- Current insurance status (renewing/new driver/retired)
- Years of continuous insurance coverage
- Years insured
- Previous insurance cancellations (due to non-payment, tickets, etc.)
In addition, you will have to choose your coverage type and deductibles, both of which have an effect on the insurance premium.
You are also asked for additional information to see if you qualify for any discounts (i.e. retiree discount, multi-vehicle discount, multi-policy discount, etc.)
The bottom line on applying for car insurance
As you begin researching various insurance companies and packages, you may become overwhelmed. How do you decide which car insurance quote to choose? A good price is what usually clinches the deal, but it’s important to ensure the company you go with has the right coverage for you alongside top-notch customer service and claims experiences. At isure, we want to take the stress and the guesswork out of the process for you. When you need to get a car insurance quote, we want you to get the best possible price that will suit all your needs. If you have any questions about car insurance, contact one of our isure brokers for help today.
