Frequently Asked Questions

Q: How much will my insurance cost?

A: Insurance premiums will vary depending on many different factors. The most weighted of these include: address, years licensed, age, driving history (accidents and tickets), vehicle (make, model and year) and kilometers driven. Every insurance company will have different rates. Each insurer may also give certain discounts to certain groups. The most effective way to get an estimate is to contact your local insurance broker and ask for your options.

Q: What will I need to get insurance?

A: To insure a vehicle, you will need the following documents:

– The vehicle ownership (you must be the owner)
– A valid driver’s license
– Payment information (If choosing a monthly plan)

Once you decide on a policy, the insurance broker will create the applications. You will need to sign it and present the documents stated above.

Q: What’s the insurance application?

A:  The insurance application is simply a summary of your coverage. It includes your basic information and the vehicle you would like to insure. This is not your insurance policy. Your official policy and permanent liability slips will come to your address in the mail within a month.

Q: What’s a pink slip?

A: The Pink Slip (Liability slip) is your proof of insurance. You must keep this document with you whenever you are driving the vehicle. If a police officer pulls you over, they will ask for proof of insurance.

Q: What’s one-way and two-way insurance?

A: In short, one-way insurance is only liability and does not cover your vehicle if you get into an at-fault accident. Two-way insurance includes liability coverage as well as collision and comprehensive.  Your vehicle is covered regardless of fault with two-way insurance.

Q: What’s liability coverage?

A: In Ontario, by law you must carry liability insurance. If an accident were to occur and the other party decided to sue you for damages, you are liable and obligated to pay. With liability coverage, the company will cover your lawyer fees along with the damage owed.

Q: What’s a deductible?

A: Assuming you purchase two-way insurance, you will have a couple different deductible options. The deductible is the portion you pay if a loss occurs. It can range from $0-1500. Example: If you rear end someone and the damages to your car are $5500.00 with a deductible of $500.00, the company will give you $5000.00.

Q: What’s an insurance broker?

A: An insurance broker is a licensed expert who is contracted to sell many different products and companies. They are required to complete a certain amount of educational hours annually to stay updated on the industry. An insurance broker is free to the client and works on behalf of them.

If you have another question that you feel should be added to this list, please send me a message!