Why did my insurance premium increase?
There are a number of factors that could cause your insurance premium to increase. All insurance companies must have their Ontario auto rates approved by the Government regulator, Financial Services Commission of Ontario (FSCO). Depending on the details of your policy, your rates could go up on renewal when you enter a new policy period. Or perhaps you’ve made a change to your policy such as –
- Change the use of the vehicle (i.e. commuting distance)
- Added/deleted vehicles
- Added/deleted a driver
- Suffered a recent claim
- Amended coverage, limits or deductibles
Always work with a licensed insurance broker who will take the time to review your policy with you and answer any questions you have.
Do I really need an umbrella policy?
Consider for a moment whether it is possible that you could ever be sued. Do you drive a car? Do you have children? Do you have a dog? Do you ever entertain at your home? Do you or your kids use social media? If you answered ‘yes’ to any of these questions you are personally at risk. Despite best intentions, injuries and property damage can occur. That’s why home and auto insurance policies have liability coverage.
But what happens when that limit is used up? When was the last time you increased your liability coverage? It likely won’t be a surprise to you that court award judgments are on the rise. An umbrella liability policy is an excellent way to bring an additional layer of protection for you and your family. Ask us to provide a quote for your consideration because we want you and your assets to be protected.
My son/daughter just started driving, do I need to inform Advocate?
G1: As a G1 licensed driver, you are not required to be listed on the auto insurance policy as a driver and there is no premium associated with a G1 driver. However, we always ask that you contact us to advise of newly licensed drivers in the household so we can document your policy accordingly.
G2: You need to contact our office when your child obtains their G2 license. At this point, they are required to be listed as an operator on your policy. Please be sure to obtain a copy of their Driver History Report from Service Ontario if they have completed an approved Driver Training Course. This is required in order to apply for a Driver Training discount on your premium.
G: Please contact our office when you child obtains their full G license so your insurance record can be updated.
Am I covered for items stolen from my vehicle?
Clients are often confused about how this is handled. If the items stolen are permanently attached to your vehicle, for example the stereo system, then it is covered under your auto policy. However if an item like your briefcase, purse or sports equipment is stolen, then you would claim that under your personal property policy (i.e. home or tenant insurance). Limits and deductibles apply so please call us to discuss.
What information do I need to apply for auto insurance?
The Ontario Automobile Policy is regulated by the Government, including what information can be used to base your rate on. This includes a number of details about your vehicle and about the individuals driving the vehicle and/or who reside in your home. For example you will need to provide – address, date of birth, date you were licensed, year/make/model/VIN of your vehicle, how your vehicle is used (i.e. commuting to work), annual mileage you drive, and driving record (dates/details of claims, tickets and accidents). This is not an exhaustive list but will give you an idea of the key information required to get auto insurance.