Car Insurance in Cambridge

Car Insurance in Ontario is the Law

Car insurance in Cambridge and throughout the province of Ontario is government-regulated. In other words, anyone driving in Cambridge needs auto insurance. Here are the minimum coverage requirements in Ontario:

Third party liability coverage

Third party liability coverage helps you in the event of a car accident. If you are in a collision, your car insurance provider covers medical bills, legal fees, vehicle repair costs, and more. In Ontario, drivers need a minimum of $200,000 in third party liability coverage because it is a mandatory insurance policy.

Accident benefits coverage

Your insurance policy will provide mandatory coverage if you or someone else requires financial assistance after a car accident. Accident benefits coverage will come into effect regardless of who was responsible for the accident. This policy covers medical expenses that are not covered by health insurance, such as rehabilitation and prescription medication.

Direct compensation - property damage coverage

Your Cambridge mandatory coverage also includes direct compensation - property damage coverage. It covers drivers when a collision damages their car. For example, something like engine replacement can be pricey. However, it will only provide coverage if you are not liable for the accident. Your insurance broker will inform you that your insurance company will issue the payout directly.

Uninsured automobile coverage

Uninsured automobile insurance will help you if you get into a car accident with an underinsured or uninsured driver. It will also provide coverage if you get into a hit-and-run with an unidentified driver. If you remain with the same insurance provider, it will also allow you to maintain a good driving record.

Your broker will help you find affordable car insurance in Cambridge. With so many auto insurance companies to choose from, it’s easier to let an insurance broker find coverage that suits you and your lifestyle!

Car Insurance Premiums in Cambridge, Ontario

If you require car insurance in Cambridge, you’ll rejoice that people living in this beautiful city pay less than most people in Ontario. Even those living in Kitchener and Brantford may pay more! Car insurance rates vary depending on postal codes in the city, but the differences are less dramatic than in places like Toronto and cities throughout the GTA. As your car insurance broker in Cambridge, we will assist you in finding the cheapest car insurance rates. Whether you commute to work daily or enjoy the city’s ambiance, we can help compare car insurance quotes and policies.

Optional car insurance coverage for Cambridge drivers

Besides standard car insurance coverage in Cambridge, there are also additional types available that insurance providers will suggest to Ontario drivers. The types of standard coverage we’ve listed thus far are required by law, but these optional types of insurance coverage are not. However, they can still benefit drivers. Here are the other types of car insurance available to Cambridge drivers:

Collision coverage

If you get into an accident with another vehicle or object on the road, it does not matter who is at fault for the accident, as collision coverage covers the costs regardless. Under the collision coverage section of your policy, you can receive compensation to help pay for property damage caused by the accident, including a damaged vehicle.

Comprehensive coverage

Comprehensive coverage is another option that your insurance company may suggest because of the peace of mind it offers. Standard auto insurance in Ontario can protect against collisions but will not keep drivers safe from other incidents on the road. Comprehensive coverage does, which is why your Cambridge insurance company will encourage you to get it. It can protect against theft, vandalism, water damage, fire, and much more.

Accident forgiveness coverage

The final type of coverage available to Cambridge drivers is accident forgiveness. This coverage can benefit new or high-risk drivers. It is one of the only types of car insurance policies that prevents your insurance premiums from increasing after your first at-fault accident.

Optional coverage can be helpful in many scenarios, especially in a car accident that causes bodily injury. You should consider it because it can lead to higher average savings on your car insurance. Ask your broker how optional coverage can keep you safer on the roads today.

How Cambridge car insurance rates are calculated

How do insurance companies calculate your Cambridge car insurance quotes? Aspects such as the driver’s age, location, and driving history all play a role in calculating insurance costs. If you’re driving in Cambridge, learning about what impacts your auto insurance rates is helpful. Here are the most common factors that insurance companies use to calculate your insurance premiums:

Provincial laws

Each Canadian province and territory is responsible for setting its own rules and regulations on car insurance, including minimum coverage requirements. The minimum coverage requirements will affect the cost of your Cambridge car insurance policy. If you live in a province with a higher coverage requirement, you will have to pay more. In Ontario and Alberta, drivers have to carry no less than $200,000 in third-party liability coverage at all times.

Age

Your insurance company will use your age to determine your Cambridge car insurance premium. Unfortunately, that means younger drivers with less driving experience are considered high-risk and are more likely to get into an accident. As a result, young drivers have high car insurance costs. Seniors over the age of 60 are also more likely to pay more for auto insurance.

Driving history

Your driving record also impacts your auto insurance costs. Driving history combines one’s driving experience and driving record. Having years or decades of driving experience can work to your advantage if you have a clean driving record.

A clean driving record is free of speeding tickets, collisions, DUIs, or demerit points. The more incidents you have on your records, the higher your car insurance costs will be. Remember that traffic tickets will remain on your driving record for three years. In other words, you will pay more for your auto insurance for all three years.

Through a combination of driving safely, obeying the rules of the road, and having ample driving experience, you can maintain a clean driving record. Then, you will pay less for your auto insurance.

Location

Where you live can also alter your car insurance premiums. Cambridge auto insurance brokers will ask for your address when providing you with a free quote. Drivers living in or near high-density urban areas like Toronto will pay more for car insurance than those living in rural parts of Canada. That is because these areas are more populated, and as a result, there are more cars on the road, increasing your chance of getting into a collision. If you live in a part of Ontario prone to climate-related weather incidents, such as floods, your auto insurance can be affected.

Type of vehicle

Insurance providers consider the make, model, and year of the vehicle you drive when determining your car insurance rates. Cambridge car insurance companies will use this information to assess how likely your car is to be stolen and how much it will cost to replace or repair it if damaged or stolen. For example, expensive vehicles, such as luxury sports cars, cost more to insure because they are pricier to repair or replace if stolen or in the event of a collision.

In contrast, those driving older, more affordable cars can save money on their car insurance in Cambridge. However, if your expensive vehicle has state-of-the-art safety features and anti-theft features, you won’t have the cheapest car insurance, but it will not cost as much as those driving cars without them.

Annual mileage

How much time do you spend on the road? Ask yourself this because an occasional driver who only drives on weekends or a few times a week can save money on their car insurance in Cambridge. In contrast, your auto coverage will be more expensive if you spend an above-average amount of time on the road, e.g. a long daily commute to work or a job involving transportation, leading to higher mileage. You will also pay more for auto insurance in Cambridge if you spend more time driving at night, on major highways or during rush hour.

Car ownership duration

How long you have driven the car also affects your auto insurance in Cambridge. If you have driven the same car for many years without incident, the insurance provider will use this as a testament to your responsibility and lower your insurance rates. If multiple people in your household have shared the same vehicle for years and have maintained clean driving records and a lack of claims history, your insurance policy will cost less. If you buy cars more frequently or each household member has their own vehicle, your insurance premium will be higher.

How to save money on car insurance in Cambridge

Car insurance in Cambridge doesn’t have to cost you an arm and a leg. BrokerLink can help you save money on auto insurance by finding adequate insurance and a policy that provides you with the best coverage. Here’s how you can reduce your costs and find the best auto insurance in Cambridge:

• Purchase car insurance for more than one vehicle from the same provider (savings of up to 20%)
• Buy multiple insurance policies (home insurance, business insurance, leisure vehicle insurance, etc.) from the same provider (savings of up to 15%)
• Install winter tires on your vehicle (savings of up to 10% in Ontario)
• Purchase a hybrid or electric vehicle (savings of up to 5%)
• Increase your deductible
• Pay car insurance annually rather than monthly

Buy car insurance for multiple vehicles from the same provider

Purchasing insurance for multiple vehicles from the same provider can save you up to 20% on your car insurance. It will cost less to have all your vehicles under the same policy rather than work with multiple insurers.

Bundling insurance policies

By bundling your insurance policies together, you can save money! For example, if you require home, business, and leisure vehicle insurance, you will pay less in the long run. It can cut your costs by up to 15%.

Install winter tires

Getting winter tires installed on your vehicle will also lower your auto insurance. Some insurance providers require you to have them on your vehicle during certain periods of the year and for the tires to be the same brand. Ask your insurance provider about your policy to save up to 10% today!

Purchase a hybrid or electric vehicle

Buy a hybrid or electric vehicle to reduce your environmental footprint. This can also provide insurance discounts, especially if your car has higher safety ratings and lower theft rates.

Increase your insurance deductible

Consider choosing a higher car insurance deductible. Premiums and deductibles coincide, meaning car insurance quotes vary depending on your deductible. A higher deductible leads to a cheaper policy.

Pay car insurance annually instead of monthly

One yearly car insurance payment is less than twelve monthly payments. How can that be? Monthly payments have administrative fees, which come up with every payment, so it is cheaper to save up money for a single yearly payment.

Partner with a Cambridge insurance broker

A great way to find the best insurance provider is by using an experienced broker from BrokerLink. Our team of experts has extensive knowledge of car insurance in Cambridge and is here to help. We help Cambridge drivers find the best auto insurance providers and policies that suit their needs and budget. We work with Canadians far and wide every day to find the mandatory coverage they need at affordable prices. We speak with various insurance providers to find quotes, what insurers offer discounts, and, best of all, cheap car insurance. Contact BrokerLink to get the coverage you need today.

Tips for Young Drivers in Cambridge, Ontario

Driving for the first time can be intimidating for some Cambridge residents. It is a skill that takes time and patience to master. If you are a young driver in Cambridge, being nervous is normal. However, with practice, you will become a safe and skillful driver in no time. Here are our tips to help you become a better driver and protect drivers throughout the city while you are learning:

Slow down

Drivers of any age can drive slower. Driving slower and more cautiously makes you less likely to get into a car accident. Always drive the speed limit and take your time when accelerating, braking, turning, parking, or changing lanes. Also, take extra care when driving in poor weather conditions like fog, rain, or snow, at night when visibility is poor and through construction. In these scenarios, driving below the speed limit is recommended to avoid the risk of potential car accidents.

Check your mirrors

Any driving instructor will tell you to check your mirrors regularly. Why? It ensures you are aware of your surroundings. By checking your rearview and side mirrors, you can scan all vehicles and lanes around you. Remember, when looking through your windshield, focus on all nearby cars rather than solely the vehicle in front of you. This will allow you to see any vehicles or road hazards beside or behind you. If you are more aware of other drivers, you lower the risk of car accidents.

Enrol in driving school

If you are a newly licensed driver or need a refresher, consider enrolling in a defensive driving course with an approved Ontario driving school. There are driving schools across the province which can help you improve your practical driving skills and teach you the rules of the road simultaneously. It allows you to practice driving with someone other than your family members, which can be intimidating. Additionally, completing a defensive course can lower your Cambridge car insurance rates. Your car insurance cost will be lower if you attend a recognized driving school in Cambridge.

Leave ample space

When driving, remember space is your friend. Experts recommend always leaving two car lengths between yourself and the vehicle in front of you. That way, if you need to stop suddenly, you have enough room to do so without hitting the vehicle in front of you. Additionally, if you are rear-ended at an intersection, you are less likely to bump into another car or pedestrian, which can cause more significant damage. If you are driving at high speeds, such as on a highway or in poor weather conditions like rain, snow, or fog, the distance between your vehicle and the one in front of you should be bigger since braking times will be reduced.

Minimize distractions

Lastly, young drivers in Cambridge should minimize distractions. Blasting the radio, checking your phone or sipping a drink while driving can have serious consequences. First off, texting and driving is illegal in Ontario — even if you are stopped at a red light, put the phone down! Outside of being against the law, checking your phone, changing radio stations, or generally not paying to the road increases your chances of getting into a collision. Before putting your car into drive, finish your drink, set the radio to your favourite station and put your phone somewhere you can’t see.

Compare Cambridge car insurance quotes with trusted insurance brokers

Shopping for car insurance is stressful, but it doesn’t have to be. Getting help from a broker from BrokerLink can lower your insurance premium because we are connected with the best car insurance companies in the city. We make finding auto insurance for an affordable price easy.

BrokerLink has a team of Cambridge insurance brokers who will work with you to find a policy that suits your needs. We will shop around for the best car insurance rates on your behalf to give you the free time to do what you love. An experienced insurance advisor will make your auto insurance experience hassle-free. We do all the heavy lifting so you can be matched with an auto insurance company with a policy that suits your needs and keeps you safe on the road.

Save time and money by contacting a Cambridge insurance broker today.

Get in touch

Do you still have questions about Cambridge car insurance? Want to learn more about mandatory car insurance in Ontario, discuss the optional coverage types available to you, or request a free auto insurance quote? We can even help you if you have an expired car insurance renewal.

Contact BrokerLink today by phone, email, or in person at one of our many locations across Ontario. No matter how you contact us, one of BrokerLink’s knowledgeable and friendly insurance advisors will gladly assist you.

We also invite Cambridge drivers to request a free quote using our car insurance calculator. To request a Cambridge auto insurance quote online, answer a few basic questions about yourself and the type of vehicle you drive. In less than five minutes, you’ll receive an accurate and competitive quote. It’s that easy!

So what are you waiting for? Contact BrokerLink today to jumpstart your Cambridge auto insurance journey. Stop by our Cambridge office to learn more. We can’t wait to hear from you!

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