Brampton Car Insurance Reference Guide
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Car insurance, it's the law, but overpaying for it isn't.
Everyone knows that you need car insurance to drive; it's the law. What you don't need though is to overpay for it and you can avoid this by shopping around. Shopping around is key because rates often change and the company who gave you the best rate last time you got auto insurance may not be the company who will give you the best rate this year
- Rates change frequently, about every three months. The Financial Services Commission of Ontario (FSCO) reviews and approves the latest changes on a quarterly basis. Keep track of your Ottawa auto insurance with the ca Car Insurance Rate Tracker.
The basics of your car insurance policy
Your car insurance policy is made up of some mandatory coverages, things like:
- Accident Benefits: Accident Benefits covers the people in a vehicle in the event of injury. Coverage can include medical and rehabilitation costs, funeral expenses, death benefits, as well as income replacement.
Did you know? As of June, 2016 there are some changes to your Accident Benefits that you'll want to read up on: Ontario Car Insurance Is Changing. What You Need to Know
- Uninsured Motorist Coverage: This component of the standard Ontario auto insurance policy provides coverage for you and your family if you are in an accident and injured or killed by hit-and-run driver or by a driver who is not insured.
- Third Party Liability: Third Party Liability coverage pays for a legal claim against the policyholder in the event that they are responsible (whether wholly or partially) for a collision that causes injury or damage to a third party. The minimum limit requirement is $200,000 although most drivers go with at least $1 million.
- Direct Compensation - Property Damage: This component of your policy provides coverage for damage to your car and any property inside the car as a result of an automobile accident in which you are not-at-fault.
Your car insurance policy is also made up of optional coverages, the most common being:
- Collision: This covers damage to your vehicle as a result of an impact or collision with another vehicle or object.
- Comprehensive: This insures your car against damage caused by events like theft and vandalism.
Both of these optional coverages typically come with a deductible. A deductible is the portion of an insurance claim you agree to pay and generally the higher the deductible you choose the lower your car insurance rate
What goes into your Brampton auto insurance rate?
It`s incredible that from a population of 500 in 1853 to more than 525,000 now, that Brampton is Canada's ninth largest city. By 2031, Brampton`s population is expected to grow to 725,000 or more. The amount of driving done in and around Brampton continues to grow exponentially, as well.
The average age of drivers in Brampton shopping for car insurance at Kanetix.ca is 38 and male drivers shopping around (69%) far outnumber their female counterparts (31%). Brampton residents who shop around for auto insurance should expect the following factors, among others, to be used in determining car insurance rates: where you live in Brampton, your commute, the car you drive, and your driving record.
Where you live in Brampton
Motorists that reside in Canada`s ninth largest city, face the same driving challenges and conditions experienced by drivers elsewhere in the GTA. The traffic and sheer number of drivers on the road all play a role; more drivers equal more cars which translates into more chances of being in a collision or even theft. Car insurance in urban neighbourhoods is generally more expensive than in rural areas.
Brampton drivers are a prominent part of the Greater Toronto area and this will be reflected in car insurance costs. Naturally, working closer to home or choosing to use public transportation will help reduce insurance rates.
The car you drive in Brampton
As you know, the vehicle model you drive is directly tied to the cost of insurance you pay. Many drivers actually select cars knowing that insurance providers use this information to figure out the insurance premiums to charge. Often safety ratings, repair costs and even the likelihood of theft are factored into the rate you pay.
When filling in information while shopping for the lowest rates and Kanetix.ca, Brampton drivers list the Honda Civic as the most popular car followed by the Toyota Corolla. In third place is the Honda Accord followed by the Mazda3, and Toyota Camry reported as the fourth and fifth most popular models.
Your driving history
It should be of no surprise that your driving record is of importance to car insurance companies when determining insurance premiums. Past driving behaviour, accidents, infractions, tickets or charges will count against you when the insurance rate is being composed. Those with clean driving records, as you`d expect, should end up saving on insurance costs than those with a less than perfect driving record.
Based on Kanetix.ca data, about 62 per cent of Brampton drivers have had at least one car accident, as reported while obtaining their auto insurance quotes. Significantly less (42%), have reported getting at least one ticket.
Driving Safely Has Additional Benefits
When it comes to drivers that use snow tires to combat difficult driving conditions in the winter months, the vast majority (85%) of Brampton motorists admit that this is the case.
Kanetix.ca customers from Brampton, like so many others throughout Ontario, are taking advantage of the discount being offered by car insurance companies province-wide to motorists who buy and install four winter tires in November and keep them on until April. The Ontario government introduced the measure on January 1, 2016, to encourage safer driving and since that time thousands of drivers have saved up to 5 per cent on auto insurance rates by simply getting snow tires installed when winter starts.
Many insurance companies also offer a discount to drivers enrolled in some type of roadside assistance program. Drivers in Brampton are comfortable with the idea, as 34 per cent of car insurance shoppers mention that they use roadside assistance programs.
Ask About Other Discounts To Save Money
Don't be shy, it's your money. For example, did you know those who hold multiple policies with the same insurance provider are in line to receive a hefty discount? Auto insurance firms agree and use this sound business practice to encourage customers to combine different types of policies under the same provider. It's a great way to saver five to 15 per cent off your premiums.
In Brampton, that idea has great appeal. More than half (57%) are willing to take advantage of multi-line discount plans.
When shopping for auto insurance, there are other discounts to inquire about before signing up. You will discover that savings are available for those who complete driver training courses. Additionally, installing better safety and security features on your vehicle, belonging to certain organizations and being retired have enabled astute shoppers to rack up further discounts.
Shop around to see if you can save money
Compare rates regularly to ensure you're getting the best price for your car insurance coverage. Compare rates annually at renewal, but also if your situation changes like when you get married (or divorced), move, buy a new car, add drivers to your policy (like your teen), get a ticket, are involved in a collision, change jobs or retire. These are all ideal times when you should shop around to see if a low car insurance rate
can be had.
*60% of Kanetix customers in Ontario who participated in the survey said Kanetix helped them identify an average savings amount of $776.58 (December 1, 2015 - February 29, 2016) on their car insurance. The cited amount represents the average difference between the best quote obtained at www.kanetix.ca
and the current premium amount of participants in the survey. The savings amount varies by individual and does not constitute a guarantee; in each individual case, the difference may be smaller or greater than the savings amount cited.
How to save with Kanetix