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When you own a car, getting auto insurance is mandatory by law across Canada. Whether you are commuting to work every day, or just using your vehicle for weekly errands, you need car insurance and we are here to help you get on the road today! At Surex, we'll provide you with multiple quotes in just a few minutes, bringing you the best rates from all of Canada's top providers. You can compare and find the right price and coverage you need!
Auto Insurance Facts:
The average Canadian household has 1.5 cars and with over 90% of them having at least one car. As of 2020 there were 118,542 cars registered in Canada. Auto insurance is the best selling and most profitable insurance product out there and accounts for more than 40% of the market share of the country's insurance industry.
Auto insurance in Canada
There are three types of automobile coverages available in Canada. They are:
Collision car insurance:
If you and another car - or any stationary object - were to collide, financial compensation would be provided to cover the cost of the vehicle repair.
Comprehensive car insurance:
Unexpected things happen to your car. Comprehensive car insurance provides peace of mind for those moments. Things such as hitting an animal, fire, theft, vandalism, flood, etc. are covered under this policy.
Liability car insurance is required, by law, for all drivers. Liability insurance protects others from damages you cause while driving a vehicle. This covers a variety of losses including property damage, bodily injury and death. The price is based on you, the driver, so all vehicles you drive will have the same liability insurance rate. This is the cheapest form of auto insurance, which means it has the lowest coverage.
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An insurance premium is an amount one pays per month (or agreed upon term) for an auto insurance policy on their vehicle. An insurance deductible is the amount of money the insured party is required to pay - out of pocket - before their insurance company will step in and cover damages.
The amount on your policy can vary. A higher deductible usually means a lower premium (per month cost for your car insurance policy). It is essential to make sure you can reasonably afford your auto insurance deductible. In the case of an accident, if you cannot pay your deductible, your insurance company will not be able to help with your overall costs.
Surex offers a comprehensive list of discounts to get you cheap auto insurance.
- Bundle discount
- Group discount
- Credit discount
- Experienced driver discount
- Short commute discount
- Mature citizen discount
- Hybrid vehicle discount
- Anti-theft discount
- Loyalty discount
- Renewal discount
- Claims-free discount
- New business discount
- Flex discount
- Student discount
- Occupation discount
- Multi-vehicle discount
Most companies have a 24/7 line to contact (check your insurance card for phone number). You can also call or email your Surex Advisor directly to submit a claim.
You will need:
- Time of the accident.
- Date of accident.
- Location of accident.
- Description of the accident.
- Photos of accident (if possible).
- Police report (if possible).
Every client deserves personal service, our Advisors know that providing cheap, discount rates leads to long-term clients. From your quote to inquiries about your policy to processing claims, you will deal with the same broker.
It is important to know that in the unfortunate case of an accident or insurance claim against you, we will compare our insurance company partners to make sure your new auto rate is the cheapest we can offer. This is in contrast to dealing with other direct insurance sources (such as banks, co-ops or agents) that may have conflicting interests when it comes to your new insurance rate.
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Auto insurance rates vary across different providers and are based on several factors like driving experience, demographics, geography, and previous insurance coverage. It’s important to do your research when choosing the right company to cover you.
Getting the best auto insurance rates requires a couple things:
It depends on where you live: Different areas in Canada will have higher insurance rates. You many want to consider this when signing up for auto insurance.
A good driving record: Take responsibility and maintain a good record. Not only will it help you stay safe but will also help you save you some money from potential accidents resulting in vehicle damage and injury.
Asking for higher deductibles: If you’re financially able to do so, increasing your deductible so that if something were to happen, you could pay immediately. Higher deductibles generally result in lower insurance costs.
Shopping around: Comparing rates will help you choose the best insurance company for the coverage you’re looking for. A licensed insurance advisor can help do the shopping for you and guide you if you have any questions.
Bundling home and auto: take advantage of any offers to combine insurances. When you choose to go with the same provider for more than one type of insurance, you can generally get them together for a discounted price.
Here are some other helpful tips:
-Check with your advisor to see if you qualify for any additional discounts
-Recently licensed drivers completing a drivers education course
- Work on improving your credit, some provinces offer aggressive discounts based on having a good credit score.
-Tickets and claims are 2 large factors insurance companies look at when providing rates. The more years you go without filing a claim the better most companies give more aggressive savings to those with 6+ years of claims free, for tickets the optimal time frame is 3+ years.
-Ask for higher deductibles
-Reduce coverage on older car
Auto insurance rates are determined by a few things. The rates are determined by how much and how often you drive, your driving record, the state of your vehicle, the type and amount of coverage, and deductibles. Insurance companies also take into consideration where you’ll be driving this vehicle as well as your demographics like age, marital status and gender to gage your level of experience. A strong credit score will also help you land the best insurance rate you can get. Companies may also look at insurance coverage such as renters’ insurance and homeowners’ insurance in addition to the vehicle type, use, and how many kilometers you drive on an annual basis.
You may be thinking you’re stuck between insurance companies. Not to worry, we have some tips for helping you choose auto insurance:
Do an annual rate check: Insurance rates change year over year which is why it’s important to do an annual rate check.
Pick a top insurer: Shopping around for insurance will help you pick the right company to get the best coverage for the best price. Take the time and consider your options.
Set your deductible at the right level: Ensure you set your deductible at the right cost so that you agree to an amount that you would pay on your own. In general, the higher the deductible, the lower the insurance rate.
Go over your coverage: Ensure you have enough liability coverage to cover bodily injury and property damage. More coverage means more protection you have.
Choose the right car: As you now know, companies consider which vehicle you drive and how much you drive it so you’re going to want to pick the best one for you in terms of practicality, price, safety, features, and drive.
-Age, gender, years licensed, license type, year insured, claims history, conviction/suspension history, age/type of vehicle, coverage requested, km's driven daily & annually, use of vehicle, etc
-Postal Code, credit, age, sex, marital status, occupation, number of years driving, number of years insured, number of years claims-free and/or ticket-free, type of vehicle, coverage, deductibles, payment terms - upfront can save 3-4%
There is no right or wrong answer, today so many factors that go into rating that it's not a "one size fits all". The best thing to do is shop the market and get quotes with the same coverage. If any of the factors listed above change then it might be a good idea to "refresh" your quotes and see if you can get a better rate.
Age affects auto insurance rates. When you’re under 25, you will most likely have less experience than a driver who’s been on the roads for several years. For this reason, your premium will be higher if you’re under 25.
There are a number of minor infractions that might affect your insurance premium if you get a ticket. Some common ones are speeding, disobeying a sign, traffic light infractions, improper lane changes, not using your seatbelt or not signalling when it is required. In order words, any ticket that needs a conviction (minor, major, and serious) can affect your insurance. Parking tickets are the only tickets that don't affect your insurance rates.
When you own a car, getting auto insurance is mandatory by law across Canada. Having insurance makes sure you the driver/owner is covered, as well as your passengers. It also covers any pedestrians and property that may be involved in an auto collision. Once you are behind the wheel of a car, as the driver you are responsible for the lives and property of others and that's why having insurance is so important.
Have questions? We’ve got answers:
99% of the time, yes, you’ll need full coverage on a leased or financed vehicle.
Full coverage covers the replacement/fix cost associated with your vehicle when you’re in an at-fault accident. If you’re leasing or financing your vehicle, you technically don’t own it until you’ve completed all your leasing or financing payments. Because of this, the overwhelming majority of leased or financed vehicle will require full coverage.
In short, yes. But vehicle age isn’t the only factor. Insurance providers look at the make and model your vehicle — in addition to your driving history, your demographic, the likelihood of your vehicle being stolen, the cost to repair or replace it, your neighbourhood crime rate, and more — in order to determine the likelihood of you making a claim. The less likely they feel you are to make a claim, the lower your auto insurance rates will be, and vice versa.
In order to secure auto insurance in Canada, drivers need to produce a number of documents, including a valid driver’s license, proof of driver’s education training (if completed), vehicle registration, license plate number, your driving history, current auto insurance policy information, details of all drivers who will use the vehicle, and payment information (credit card, void cheque, banking information).
It is recommended that you speak with an Insurance Advisor 30-60 days before renewal of your auto insurance policy so you can compare rates to get the cheapest rate.
We compare prices to provide cheap insurance for ATV, motorhomes, trailers, boats, etc. Check online or contact your Surex Advisor for a quote.
People are often looking to drive for a rideshare company (Uber, Lyft) to make some extra money. But you have to remember that you will need extra car insurance coverage when doing so. Ridesharing coverage is for drivers who used their personal vehicles to transport paying customers. Ridesharing insurance is fairly new, and has been around since 2016. Here are a few tips on why you need this extra coverage:
- Your personal auto insurance does not cover you if you drive for a rideshare company and they can cancel your coverage at any time if they find out.
- You may be covered with your rideshare company, but the coverage will be limited. Anything extra will need to be covered by your own personal insurance.
- Ridesharing coverage is affordable (less than $100/month) - cheaper than getting a commercial auto insurance policy used by taxi services and still gives you and your passengers the coverage they need.
Yes, as we said earlier, if you own and operate a vehicle, then having auto insurance is mandatory by law. You do not need it to buy a car, but once you get behind the wheel, then you must. If not, you will face penalties such as a fine, licence suspension and/or having your car impounded. Each province may have varying penalities, but in short, you will not be able to operate it anymore.
- If you get into an accident without insurance then you are responsible for any and all damages and will have to pay out of pocket for any expenses.
- You forfeit the right to sue for any type of accident benefit and lose money that can potentially help cover hospital stays or loss of income.
- If you are driving a borrowed car and get into an accident, then the premium for the owner will increase.
Every province in Canada has no-fault insurance and this is when the insurance company will pay your claim regardless of who is at fault for the accident. Some people think this is a good system as it prevents delays in claim payments and access to medical care, while others think it's not because it can limit certain compensations as well as protect bad drivers because they cannot be sued for damages.
Comprehensive coverage pays to repair or replace your vehicle if it's been stolen or damaged by something other than a collision or rolling over. (It covers your car when it's not in use). Examples of these damages include damage caused by fire, wind, hail, flood, theft, vandalism, falling objects, and hitting an animal would be covered.
Not all drivers require the same insurance coverage so make sure you talk to a dedicated insurance advisor today to get yours tailored to what you need. Do you have an older car? Maybe you don't want collision coverage because it might not be worth fixing if you didn't pay much for the vehicle.
User-based insurance, or pay-as-you-go insurance, is insurance that is based on the number of kilometers you drive, combined with technical stats such as how aggressively you drive. This is monitored by using an app or a computer mounted to your engine. This can save money for good drivers who don't drive very far or as often. Not every insurance company provides this type of insurance, but you can always inquire as it might be more common now with more people working remotely and not commuting daily.
Yes, this is a great question! Each province has a different system and mandatory coverages, so rates would be vastly different between each one. British Columbia, Saskatchewan and Manitoba have government-provided auto insurance programs whereas, Alberta, Ontario, the Atlantic provinces and Territories have private car insurance markets. And, Quebec has a hybrid system - the government provides personal injury, while the property damage is done through private insurers.