Will a red car cost me more in insurance?
No. Your premiums are not based on the color of your vehicle. The only exception to this is if you have a custom paint job.
Insurers keep track of the cost of claims they pay out for each vehicle. They use this data to determine what the base rates will be for each vehicle.
Does my insurance policy cover a friend if I loan them my car?
You can lend your vehicle to anyone with a valid driver’s license. However, if this person is a regular driver of the vehicle or resides in the same household insurers will require that you add them onto your policy. Failing to do this before the person drives can result in a denial of a claim.
It is also important to keep in mind that in Ontario the driver of and the owner of the vehicle are equally liable for any claims.
My child now has their G1. Do I need to add him/her to my automobile policy?
Yes. All drivers in a household must be listed on the policy or have their own. G1 drivers who have not had any claims or tickets will be added to the policy at no charge.
The road was icy. Why was the accident deemed to be my fault?
In Ontario someone is always deemed to be at fault. Any single vehicle accident will be deemed to be an at-fault accident regardless of the road conditions. Insurers rely on the Fault Determination Rules set out in the Insurance Act when making a determination on who is at fault and to what extent they are at fault.
Why is my friend paying less?
Each policy is rated for the individual. You are unique and so is your policy.
Automobile insurance rates are based on a number of factors, including the following:
- Your location
- Your age
- The driving and insurance experience for each listed driver
- The year, make, model of the vehicle
- How much or how little you will be driving
- Where the car is parked when you are at home
What is the difference between sewer backup and overland water coverage?
The Sewer Backup Endorsement provides you with coverage for damage caused by water which has backed-up and flowed into your home from your municipal sewer system, private septic system or through sump pump failure.
The Overland Water Damage Endorsement provides you with coverage for water damage caused by overflow of a lake or river, heavy rain or rapid snowmelt that enters your home from a point at or above ground water.
Both of these coverages are optional and therefore not automatically included in your policy.
My child is going away to school. Does my policy cover their belongings?
Yes. The personal property of a dependent who is temporarily living away for school is covered under your homeowner’s policy. The coverage limits do vary from company to company. Check with your broker to confirm the limit.
I don’t own my apartment. Why do I need insurance?
Your landlord’s insurance does not offer any protection for damage to your personal property. A tenant’s policy will help protect your property and provide you with liability and additional living expense coverage.
What happens if I miss a payment?
If your payment is returned for non-sufficient funds some insurers will re-attempt the withdrawal, with their NSF fee added to your regular payment, within a few business days. If the re-attempted withdrawal is returned a registered letter will be sent to your last known address cancelling the policy on a specified date. If re-instatement is available the amount you owe and the due date will be indicated.
For the insurers who do not re-attempt the withdrawal a registered letter will be sent cancelling the policy for non-payment on a specified date. If re-instatement is available the amount you owe and the due date will be indicated.