Is Petrolia car insurance compulsory?
Yes. If you want to drive in Petrolia, you must purchase a car insurance policy. For your policy to be valid, it must include the following four coverages:
What does standard Petrolia car insurance cover?
A standard car insurance policy in Petrolia includes the minimum coverage requirements in Ontario, i.e., the four coverages listed above. These types of policies are largely designed to protect drivers against collisions. For more information on how they work to safeguard drivers, keep reading:
Third party liability coverage
Third party liability coverage is for at-fault accidents. When you get into a car accident that is your fault, you can file a third party liability claim to help pay for the cost of the accident. Examples of fees that may come with getting into an accident include medical expenses if someone is injured, repair bills if someone’s vehicle or other personal property is damaged, and legal fees in case of a claim.
Accident benefits coverage
Accident benefits coverage will pay for you to receive medical care and treatment if you or someone else in the accident is injured. For instance, if you suffer a concussion or break a bone, you can file an accident benefits claim to pay for any necessary physical therapy or prescription medication. Accident benefits can also pay for lost income due to your injury or funeral fees if someone dies due to the collision.
Direct compensation coverage
Direct compensation coverage is designed to pay for property damage coverage, namely vehicle repairs. If your car is damaged in an accident you were not at fault for, you can file a direct compensation claim with your insurer to receive a payout.
Uninsured automobile coverage
If you are involved in an accident with an at-fault motorist who is illegally driving without car insurance or who does not have high enough coverage limits to pay for the accident, you can file an uninsured automobile claim. Uninsured motorist coverage can also pay for the cost of hit-and-runs if you never learn the identity of the at-fault driver.
What does extra Petrolia car insurance cover?
If you want to add extra car insurance to your Petrolia policy, there are many ways to do so. While you can simply increase the coverage limits on any of the mandatory coverages listed above, you can also choose to add extra protection to your policy. Extra protection comes in the form of additional coverages, riders, and endorsements. Some of the most popular optional car insurance coverages among Petrolia drivers include.
Collision coverage
Collision car coverage will protect you from the cost of property damage if your car is damaged or totalled in an accident. After colliding with a vehicle, animal, or grounded object on the road, you can file a collision coverage claim to help pay for the cost of repairs or even the cost of replacing your car altogether. If you want to receive an adequate payout in the event that your car is deemed a write-off, make sure that you pick a coverage limit that reflects the value of your vehicle.
Learn more about car depreciation per year by contacting BrokerLink. This is especially important for new cars. In addition, although collision coverage is typically optional for Petrolia motorists, you might be obligated to purchase it if your leasing or financing company stipulates it.
Comprehensive coverage
Comprehensive car coverage, also known as parked car coverage, is a type of extra protection that gives many Petrolia drivers peace of mind. Why? It protects motorists against the costs of damage that occurs while your vehicle is parked. The only catch is that a covered risk must have caused the damage, also called an insured peril. Insured perils vary between policies and between insurance providers.
However, they most commonly include fire, theft, vandalism, falling and flying objects, explosions and riots, and weather-related incidents, such as flooding and hail. Be sure to read through the terms and conditions of your policy for a complete list of insured perils. In addition, as with collision coverage, Petrolia drivers might have to purchase comprehensive coverage if they lease or finance their cars.
Accident forgiveness coverage
One more type of optional car insurance coverage popular among drivers in Petrolia is accident forgiveness. Accident forgiveness is additional coverage that can be added to your car insurance policy as an endorsement to protect your driving record and to help prevent your insurance premium from increasing if you have an at-fault accident claim. Note: coverage and eligibility vary by province.
Loss of use coverage
The intention behind loss of use coverage is to compensate policyholders for the cost of taking other forms of transit if they are without their cars for a certain period of time. Most commonly, loss of use coverage is claimed when a policyholder gets into an accident that damages their car, which requires their car to go into the shop for a number of days or weeks.
During this time, the policyholder may need to rent a car. You can learn more about rental car insurance from a BrokerLink insurance advisor, take taxis, or take public transportation. Whatever transit method they choose, they can file a loss of use claim and be reimbursed for these costs up to the policy limit.
What factors impact Petrolia auto insurance rates?
This is a difficult question to answer, as each insurance company has its own unique risk-calculation formula. That said, most insurers in Ontario will consider the following factors when assessing a policyholder’s risk level and determining their rates:
- Where you live
- Age
- Gender
- Vehicle type
- How you use your vehicle
- Driving record
- Driving experience
- Past claims
- Prior insurance coverage
- Number of kilometers you drive
- Type of coverage on your policy
- Your deductible(s)
Now you know just how many factors come into play when calculating a Petrolia driver’s premium. A driver’s age, driving record, and even the type of car they drive can all influence how much a person pays for auto insurance coverage.
For example, drivers of hybrid or electric cars may pay more for car insurance than drivers of gas-powered vehicles due to the fact that these cars are often more expensive. That said, you might qualify for a discount if you drive an eco-friendly car, which could offset this increased cost. For more information on the costs of owning an electric car, contact BrokerLink today.
Another factor that could impact your insurance rates is your credit score. Not all insurers will consider this factor, but some do. A BrokerLink insurance advisor can also help explain how car insurance affects credit scores.
All in all, if you want to find out more about how Petrolia car insurance rates are calculated and how much a policy will cost you personally, contact BrokerLink for a free insurance quote today.
We’re in your community
Since we were founded, BrokerLink has been an integral member of the Petrolia community. This means that for over 30 years, we have been providing Ontario customers with top-quality insurance services. We also take the time to get to know our customers by getting involved in the local communities where we operate. Give us a call today to find out more about our company values and our dedication to corporate social responsibility.
Contact us
At Petrolia BrokerLink, we’re here to help you with any insurance needs you may have. Whether it’s insuring your home, car, business, recreational items, or pets, let us help you find the best coverage possible. We can also help you adjust or renew your policy down the road.
You can reach us by phone, email, or in person at any one of our locations across Ontario. No matter how you choose to get in touch, a BrokerLink insurance advisor will be happy to assist you. We also encourage you to take advantage of our free online quote tool that can provide you with a competitive quote in minutes.
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Petrolia car insurance FAQs
How do I renew car insurance in Petrolia?
Renewing car insurance in Petrolia is easier than you might think. To renew car insurance, get in touch with your insurance provider or broker before your policy expires. You should always renew your policy before it expires, or you risk a gap in coverage. When you notify your insurance provider, they will confirm your renewal, offer a policy review, and inform you of any changes to your premium. Please note that when your policy is up for renewal, it is a great time to make any necessary adjustments. For example, if you want to add or remove a type of coverage or increase your deductibles, now is a great time to do it.
Can I drive with expired car insurance?
No. Driving with expired car insurance is illegal, like driving uninsured is. This is because driving with an expired policy is the exact same as driving without any insurance at all. As such, if you are caught driving with an expired policy, you can be subject to the same penalties as an uninsured driver. Such penalties may include fines of up to $50,000, the impoundment of your vehicle, and the suspension of your driver’s licence for up to one year.
Will I get a discount on my Petrolia car insurance plan for installing snow tires on my car?
Most likely. Many Ontario insurance companies offer discounts to drivers who install winter tires on their cars. Winter tires make driving in snowy and icy conditions safer. They have unique tread patterns that allow for greater traction, thereby reducing brake time and minimizing the odds of an accident. As a reward for lowering your risk level, insurers may give you a percentage off of your car insurance policy. Just make sure that you comply with the insurer’s conditions for this discount. Conditions vary but may include the fact that all four tires should be the same model and that you have them installed on your car by a certain date each year.
How do car insurance deductibles work for Petrolia drivers?
Insurance deductibles work similarly, no matter what type of insurance policy you’re buying. A deductible is the amount of money that a policyholder must pay toward an insured loss. The policyholder must pay the deductible first before the insurance company issues a payout to cover the rest of the damage. Thus, you can think of a deductible as an amount that is deducted from the payout that you receive from your insurance company. Car insurance deductibles vary considerably, and it is up to each customer to choose what deductible they want to add to their policy. Car insurance deductibles can be as low as $500 or as high as $2,000 or more. A general rule of thumb about deductibles is the higher your deductible, the lower your premium will be and vice versa.
I got into a collision and was found liable. What will happen to my Petrolia car insurance premium?
The reality is that accidents affect car insurance rates. This means that if you get into an at-fault accident, your rates are likely to increase the next time that your policy renews, and they may stay this way until the collision is no longer on your record, which could take six years. However, if you have accident forgiveness coverage, then your premium may not be impacted as long as this was your first at-fault accident. Further, your rates would likely remain the same if you were not found liable for the collision.
When can I expect my Petrolia car insurance premium to go down?
For many drivers, car insurance rates start to decrease after the policyholder has been driving for seven years. Rates are usually highest for new drivers because they are the least experienced and, therefore, the most likely to get into accidents. That said, if you got into an at-fault accident or received another type of driving infraction, no matter your age, then your rates may increase as a result. They may not go down again until that infraction is no longer on your record. This could take up to six years in Ontario for an at-fault collision. This is part of the reason that driving safely is so important. Contact BrokerLink for a full list of safe driving tips.
What types of car insurance coverage can I find through a Petrolia insurance broker?
Insurance brokers are insurance experts, so they can help you find practically any type of coverage you seek. Regarding car insurance, a broker can help you find the following types of coverage, among others: third-party liability, accident benefits, direct compensation, uninsured motorist, collision, comprehensive, waiver of depreciation, loss of use, roadside assistance, and accident forgiveness coverage.
How can I find cheap car insurance in Petrolia?
You can find cheap car insurance in Petrolia by qualifying for discounts. For example, you can bundle two or more policies into one, such as car insurance and home insurance, to become eligible for major savings. Similarly, you can also buy multiple auto insurance policies. Other saving ways include picking a high deductible, removing old coverage you no longer need, installing winter tires on your car, outfitting your car with a telematics device or anti-theft device, and driving safely to maintain a clean record.
Do I need an Ontario driver’s licence to buy a car insurance plan in Petrolia?
Yes. You cannot buy car insurance coverage from an insurance company or broker if you do not have a valid Ontario driver’s licence. This is the first step to purchasing auto insurance.
What are the penalties for driving without car insurance in Petrolia?
The penalties for driving without car insurance anywhere in Ontario are fines of up to $25,000 for a first offence and $50,000 for a second offence, a 25% surcharge on top of any fine incurred, the impoundment of your car for up to 90 days, and the suspension of your driver’s licence for up to a year. These are just the legal consequences of uninsured driving. On top of these, if you get into an accident, you may have to pay for the cost of the accident out of your own pocket.
How do I get a free car insurance quote in Petrolia?
You can get a free car insurance quote in Petrolia by contacting an insurance broker or company in your area and simply asking for one. Be sure to check that they offer complimentary, no-obligation quotes first. From there, proceed with your request, answer a few questions about your car insurance needs, and you can receive a complimentary estimate in minutes.
If you have any questions, contact one of our local branches.
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