The topic of insurance can sometimes be a confusing one, especially when it comes to auto insurance. However, every day at isure, we strive to help our clients navigate the world of auto insurance in the easiest ways possible. A big part of this includes answering all of your auto insurance questions! We want you to find a great policy for the best price, and we want you to fully understand what it is you’re paying for. We have gathered some of your most common auto insurance questions, and answers to some we think you’ll find helpful. Why? Because we don’t work for the insurance companies, we work for you.
1. Is it cheaper to bundle my auto insurance with a home insurance policy?
Yes! This will save you money on auto insurance by bundling it with another policy under the same provider. You will be saving money on the policy you bundle with, as well! “Bundling” insurance policies is when you purchase multiple insurance policies from the same insurance company. For example, purchasing an insurance policy for your vehicle, home and boat, from the same company The amount of the discount will be dependent upon your coverage needs. Some customers can save hundreds when bundling insurance policies! You can also potentially save more if you have additional policies to bundle with it. You may open yourself up to the chance at benefits that may otherwise not be available to you. Get a quote with us today and find out what you can save!
2. Can I get a car insurance policy today?
If you have requested a quote and have found a policy that you are happy with, it is definitely possible to have that policy begin immediately! When you request a quote, one of the things you can do is set the start date of the policy. This is where you choose if you want to have that policy begin as soon as possible. If you want to pick a future day for it to become effective, you can do that, as well. This is especially useful if you currently have a policy with a different provider that has not yet expired and you do not plan on renewing with them. This is definitely one of the more common auto insurance questions we receive!
3. What is the difference between full and basic insurance coverage?
One of the most common questions we receive is what the difference between full and basic insurance coverage is. Both are worth considering when you’re looking for auto insurance.
Basic coverage generally includes no more than two aspects of car insurance. The first is liability insurance, which is required by law in Canada. Every driver on the road MUST have liability coverage at a minimum, as it is illegal to not have it. The second element of basic coverage is collision coverage, which provides protection if your car is damaged. This is especially useful if you have an expensive car or one that is expensive to repair. If you do not have collision coverage, you are responsible for your car’s, or the other driver’s, repairs, out-of-pocket.
Full coverage includes both liability and collision coverage, for starters. It also includes coverage for things like vandalism and falling objects. You can also find flood, earthquake, fires, and hail as part of the coverage. Many drivers do not opt for full coverage if cost is a major consideration. But, while it is more expensive than basic coverage, it can provide you with peace of mind that no matter what happens, your car will be covered. Also, depending on where you live in Ontario, this type of coverage can be a better investment overall.
4. How much is the difference between basic and full coverage car insurance?
The cost difference between basic and full coverage car insurance can be significant. The exact number is going to be dependent on your unique details, which is why there’s no way to provide a direct answer to this question. Often, it’s upwards of 50% less to take liability-only instead of full coverage. But, you should consider many factors before choosing to go the liability-only route. These factors include the value of your car, driving history, where you drive on average and more. Though it will usually cost more, it is generally recommended to have full car insurance coverage in case of emergencies.
5. Is there a penalty for cancelling an auto insurance policy early?
Unfortunately, in most cases, you will be required to pay a fee if you want to cancel your insurance policy early. For some insight into how much it might be, use our online Cancellation Cost Calculator or read our article here.
6. Do demerit points affect your auto insurance premium?
Contrary to popular belief, demerit points themselves do not have an immediate effect on your car insurance. However, the circumstances in which you receive your demerit point(s) will most likely affect your car insurance. Speeding tickets, DUI’s, and other traffic tickets will negatively impact your car insurance premiums while acquiring demerit points in the process. If you wrack up too many, you may also risk your licence being suspended.
7. Why does isure need my driver’s licence number?
Car insurance can only be sold to people with a valid driver’s licence. In fact, because your auto insurance quote is tied to your driver’s licence, you will need it to request a quote. You can rest assured that isure takes great care in protecting the data of our customers. Thus, using our online quoting system to get your car insurance quote is always safe and secure.
8. What car is the cheapest to insure in Ontario?
Generally, the cars that are cheapest to insure in Ontario are often the best-selling and safest vehicles on the road. The cheapest cars to insure in Ontario for 2023 include the following 14 vehicles. These are not in any particular order, and are all incredible options when it comes to safety and acquiring cheap insurance premiums:
- Mitsubishi Mirage
- Chevrolet Spark
- Toyota Corolla
- Mazda 3
- Hyundai Elantra
- Honda Civic
- Chevrolet Cruze
- Volkswagen Golf
- Toyota Camry
- Kia Forte
- Nissan Sentra
- Volkswagen Jetta
- Dodge Grand Caravan
- Kia Sorento
What makes them so cheap to insure is a variety of factors. For example, many of the cars that are cheapest to insure are also some of the best-selling vehicles to-date. These cars are cheap to buy and repair, especially due to the availability of parts. As such, these make these vehicles significantly cheaper to insure.
We hope we answered some of your burning auto insurance questions! If you have more questions or would like to discuss a new or existing policy, contact us today!