An easy-to-understand explanation of key auto insurance terms.
While many people know that auto insurance is mandatory, most of us aren’t familiar with some of the key terms or processes in our policies. For instance, do you know how your premium is calculated? It takes into account things like your vehicle type, how often and how far you drive, any accidents or driving convictions you’ve had and where you live. Knowing these things can allow you to have more effective conversations with your insurance agent or broker, and even make a difference in how much you pay for insurance. The guidebook introduces many of the terms you’ll need to know, in easy-to-understand language. It also explains the ins and outs of at-fault and no-fault insurance terms, so you know exactly what your policy includes if you ever get into an accident.
A list of what’s included in your auto insurance.
In Ontario, it is mandatory for your coverage to include things like Accident Benefits and Direct Compensation for Property Damage, so it’s important to know what these things mean. There are also optional coverages you can add to your policy, so you’ll want to understand what Collision or Upset coverage, Comprehensive coverage and All Perils coverage are too. That way, you’ll be able to better decide whether you need additional coverage or whether what you have is right for your needs.
An overview of what can impact your auto insurance rate.
Most of us know about basics like how clean driving records can lower our insurance premium and how too many speeding tickets can raise it. But do you know if photo radar tickets affect your rates? Or can switching to winter tires by a certain date lower them? The guidebook answers these questions and many more.
While auto insurance may not be the most exciting thing to read about, this guidebook can empower you to make more informed decisions – from purchasing a policy to making a claim. It will also help you talk more knowledgeably with your insurance agent or broker so that you get the right coverage for your needs.
Download CAA’s Insurance Guidebook or pick up your hard copy at a CAA Store near you in South Central Ontario.
Auto Insurance is underwritten by CAA Insurance Company.