Auto insurance Recent Posts

When usage-based insurance (UBI or telematics) first came to Ontario in 2013, the law allowed insurers to give discounts based on good driving behaviour, but did not allow surcharges based on bad driving behaviour. As of November 2020, the law has changed, and insurers can now surcharge you if your telematics app records risky driving behaviour like speeding.

There are dozens of reasons why you could have a gap in your auto insurance history. Some will affect your future premiums, and some won’t. The question, ultimately, is why? If you didn’t have a car for six months, that should have no effect. If your license was suspended for impaired driving, on the other hand, it will definitely have an impact on your premiums.

If you’re like most Ontarians, odds are you own a vehicle and use it to perform everyday tasks. But did you know that there are a number of ways to save big while staying insured? If not, you might want to check with your insurance broker to make sure you’ve got the coverage you need, at the best price possible.

When you get a ticket, the fine you pay will probably cost you less than the premium increase on your next auto or motorcycle insurance renewal. But just exactly how much more will you pay, and for how long?

There are many instances of fraud in our everyday lives. We are aware of instances of fraud coming at us on our computers and even now on our cell phones, and it exists on our roads as well. Insurance fraud is rampant across the country, and estimates show that it costs us more than $1 billion a year. And that adds to the cost we pay for auto insurance. They cheat and we all pay.

In Canada, when you buy a car from a dealer, it comes with certain “standard equipment” from the factory. If your vehicle has had significant changes from that standard equipment, whether it be a modified engine, exhaust, tires or suspension, you’ll need to let your insurer know, and depending on the changes, you may find that few insurers are willing to cover your modified ride. If the changes add value, you’ll also want to protect that new value.

When you buy auto insurance, the assumption is that you are insuring your car for its actual cash value (ACV) at the time of an accident, which is the purchase price, minus depreciation.

Location, location, location. You’ve heard it a million times, usually with respect to decisions involving real estate.