Car Insurance – Make Sure You’re Covered

The way that insurance works with rental cars is that you’re normally opted in to buy the rental care insurance when you agree to hire the vehicle. So if you need to hire a car while visiting London, Ontario, you’ll probably be covered.  BUT it’s your responsibility to check!

If your stay is longer, perhaps you’ve just relocated due to work, and you need more permanent options regarding your car needs and hence insurance, what are your options?

Buying Car Insurance in London, Ontario

Compare Price AND Service

When shopping for car insurance, price is always a very important factor. But you’d be a fool to rely on price alone – no offense intended. Your car insurance is not something to be taken lightly. As my wife, gran always says to her..” Wendy, you should know that we always get what we pay for and there is no such thing as a free lunch!”. So buyer beware!

Online Comparison Sites

Use a comparison site such as Kanetix. This will save you a lot of time. And these sites normally have a feature where you can save your quotes and come back to them at a later date and time. Plus changing the features you require is also a breeze. But be mindful that not all insurers are available on these sites. Some even advertise that they are only available direct – thus saving you money.

How Insurance Rates are Set

Generally, the price or premium you pay depends on your car, you, and your insurance company. The latter will be dealt with in more detail below.

Your Car:

It’s common knowledge that the majority of insurance companies set their rates on the actual claim experience of the make and model of your car. For example, a powerful sports car will generally cost a lot more to insure than a small family car. So the more expensive your car is, the higher your premiums will be.

Your Driving Experience and Record:

Other things being equal, if I drove the same car as my friend Robert, he would pay more in premiums than I would. That’s because he’s a terrible driver and is prone to accidents! Enough said? Basically, the insurance companies take into account factors such as how long you’ve had your license; your driving convictions; whether you have taken any advice driving training; and your accident and claims record.

Where You Live:

I know from experience that this can have a major effect on your premiums. Apparently, living in London, Ontario carries a saving of a few hundred dollars a year on average than if you lived in Toronto.  That’s because car insurance premiums are generally higher in larger cities or built up areas – more cars, more crime, and more car accidents.

Choosing Your Insurance Company:

There are many insurance companies that you can choose from, but let your choice be guided by these factors.

• That the company has a good reputation for paying on claims. There are some insurance companies that take a long time to pay claims.  It is sometimes better to go with (a more expensive) insurance company that is prompt to settle than a cheaper one that has a problem paying on claims. You can search online and check for reviews. After all, having insurance is really about peace of mind.

• Choose a company that offers more than just insurance. You may get roadside assistance, a car to drive while yours is in the shop. There are some insurance companies that even give rebates if you have been with them long enough. The more the extras, the better the deal. Make sure to look at what you are getting through so you’re not paying for unnecessary cover.

•  Find a company that is willing to work with your insurance needs to reduce your premiums. If you have safety features, for example, they should be able to reduce your premiums because it means that your car has less of a chance of being stolen.  Another example is that if you park in a garage overnight, you should get cheaper premiums.

Good luck with your journey in finding the right car insurance company for you.

And by the way, the same advice would probably be applicable if like my cousin Jim you were to up-stick and move to British Columbia and thus require information on BC car insurance quotes. Also, visiting this site will be very helpful.