Special Situations

Eight situations can affect your insurance premiums. A driving record can also be affected. The situations are driving without insurance, a new car purchase, marriage, advancing in age, driving in the US and Mexico and moving to a different province. Coverage for stolen and damaged personal items and letting someone borrow the car are also included.

Being insured behind the wheel is the best protection if a car accident occurs. If an accident happens and the fault is placed on you, then so is the payment for the damages. Becoming involved in an accident with no coverage can lead to a charge of driving with no insurance and then payment arrangements will have to be made to cover the damage costs.

This can happen one of two ways. Either the government pays from special funds or the party that was not at fault pays with coverage that includes uninsured motorists. You will end up paying for this at a later date and your license may even be revoked until payment has been made. In Ontario, drivers are required to file with the least amount of car insurance coverage each year that your license plate sticker is renewed.

A new car means it is time for new coverage. This is great for current policy holders. Shiny new wheels will require a coverage update. The new car can be a part of the coverage and its current features for a period of 14 days from the purchase date.

Marriage can affect car insurance too. Their driving record can spike the coverage costs and many factors go into that decision. New brides and grooms can be added to coverage policies and all that it takes is an update of information. In addition, as the years go by and you become older the rates may decline too. That must be factored into the coverage.

Driving in the US requires laws and insurance policies for drivers so that the roads stay safe. This is true with driving in Mexico too. Contacting your current or future insurer is the best route for the insurance you need. Also moving from one province to another requires an update of an insurance policy.

Damage to the car and/or personal goods may also be covered in an insurance policy. If the car is damaged inside and out, the policy can pay for repairs. Stolen goods can also be reimbursed if stolen.

When you loan your car out to someone they can be covered under your insurance policy. Be aware though that if an accident occurs you may pay for it with higher rates on the premium or changes in the coverage even if the accident was not your car’s fault.

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About the Author:
Antoine Belanger works as an auto insurance consultant and is an expert on insurance bureau of Canada, the agency responsible for Canadian insurance laws. He also provides online car insurance quote.