Navigation Links
icandrive.ca Provides Tips to Understand Auto Insurance in Canada
Date:7/16/2013

(PRWEB) July 16, 2013

On a simplified level, insurance is primarily a means of sharing risk across more individuals. Insurance providers require each individual to pay an insurance premium while in return agreeing to pay for the individual's financial loss resulting from a vehicle accident. On average not all individuals purchasing car insurance policies are involved in accidents and as a result the insurance providers use the insurance premiums paid by all policyholders to pay for the smaller percentage of policyholders that are involved in an accident. Beyond a basic understanding of how insurance coverage works it is also necessary to understand the different types of insurance coverage options available in order to choose the right fit of insurance for your vehicle

Liability Insurance

Liability insurance is the only form of mandatory insurance that has to be purchased on all vehicles in Canada regardless of province. This type of insurance provides a two-fold coverage. Part one of this type of insurance coverage provides financial support to the operator of a vehicle in covering for losses sustained by other individuals in the form of injury, death or damage to property. The second part of liability insurance which is also referred to as accident benefits provides financial assistance to the operator of the vehicle against financial losses they may personally suffer as a result of an accident in the form of medical expenses and loss of income. Apart from the province of Newfoundland and Labrador, accident benefits coverage is mandatory across Canada.

Collision Coverage

Collision coverage is designed to pay for the repair or replacement of a policy owner's car in the event of an accident regardless of whether the collision was with another car or stationary object. Comprehensive Coverage: Comprehensive coverage is designed to pay for the repair or replacement of a policy owner's car in the event of damage not resulting from an accident. This can include damage to the policy owner's vehicle due to the actions of others such as vandalism and theft, environmental occurrences such as floors, windstorms etc and damage from flying objects while parked such as construction pylons. When obtaining a policy, look for all available car insurance discounts before buying a policy.

Minimum Insurance Required

By law in Canada the Liability Insurance is the minimum level of insurance required however individuals with newer vehicles may prefer to purchase additional collision coverage to protect their vehicles. In additional when leasing or financing a vehicle many dealerships require Collision and/or Comprehensive coverage to be purchased to protect the vehicle until either the end of the lease term or the vehicle is paid off is full.

How to Purchase Car Insurance

The fastest and easiest way to obtain Ontario car insurance quotes is online. Drivers could save hundreds and thousands of dollars, simply by having their car insurance rates compared against numerous companies. Sites like icandrive.ca the perfect choice to compare quotes.

About icandrive.ca

icandrive.ca has compiled a list of driving schools in addition to other useful driving resources including G1 practice test, Class 7 Alberta test,Class 7 Practice Test for Saskatchewan and much more, which can help first time and experienced drivers learn how to drive in Canada in an efficient manner with a focus on exactly what you need to know to be a successful, licensed Canadian driver and stay safe on Canadian roads

Read the full story at http://www.prweb.com/releases/2013/7/prweb10929523.htm.


'/>"/>
Source: PRWeb
Copyright©2012 Vocus, Inc.
All rights reserved

Related medicine news :

1. Driving Safety Tips for the Long Weekend from icandrive.ca
2. icandrive.ca Provides Tips on Handling a Vehicle Write-Off
3. icandrive.ca Provides the Top 10 Things Drivers Need to Consider Before Reporting a Car Accident
4. icandrive.ca Provides Tips to Understand the Top Factors That Affect Car Insurance Premiums
5. Adding drug to standard chemotherapy provides no survival benefit for older lung cancer patients
6. Study of half siblings provides genetic clues to autism
7. Partnership provides inclusive workout
8. 16th-century Korean mummy provides clue to hepatitis B virus genetic code
9. InsuranceCalculator.net Now Provides Competitive Car Insurance Quotes To Missouri Drivers
10. SEOMiracle.com Provides SEO Services with PayPal Verified Option
11. InsuranceCalculator.net Now Provides Competitive Car Insurance Quotes To Maryland Drivers
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/13/2017)... ... October 13, 2017 , ... Lori R. Somekh, founder of the ... national organization of elder law and special needs planning attorneys. “Membership in ElderCounsel helps ... provides a forum to network with elder law attorneys nationwide,” said Somekh. , ...
(Date:10/13/2017)... , ... October 13, 2017 , ... Global Healthcare Management’s ... Alexandria Park in Milford, NJ. This free event, sponsored by Global Healthcare Management’s ... The fun run is geared towards children of all ages; it is a ...
(Date:10/13/2017)... ... ... On The Brink”: the Christian history of the United States and the loss of ... William Nowers. Captain Nowers and his wife, Millie, have six children, ten grandchildren, ... Navy. Following his career as a naval aviator and carrier pilot, he spent ...
(Date:10/12/2017)... ... October 12, 2017 , ... IsoComforter, Inc. ( https://isocomforter.com ... the introduction of an innovative new design of the shoulder pad. The shoulder ... maximum comfort while controlling your pain while using cold therapy. By utilizing ice and ...
(Date:10/12/2017)... ... October 12, 2017 , ... HMP , a leader in healthcare ... Folio Magazine Eddie Digital Award for ‘Best B-to-B Healthcare Website.’ Winners were announced during ... , The annual award competition recognizes editorial and design excellence across a range of ...
Breaking Medicine News(10 mins):
(Date:10/2/2017)... , Oct. 2, 2017  Eli Lilly and ... financial results for the third quarter of 2017 on ... conference call on that day with the investment community ... The conference call will begin at 9 ... can access a live webcast of the conference call ...
(Date:10/2/2017)... announces the European launch of their new low volume, high throughput ... Cambridge, U.K on October 4th. The new ... unprecedented speed and sensitivity while using far less sample volume through ... ... ...
(Date:9/28/2017)... CHICAGO , Sept. 28, 2017 Hill-Rom ... quarter 2017 earnings conference call and webcast on Friday, ... 8:00 a.m. (EDT) and ending at approximately 8:30 a.m. ... to discussing the company,s 2017 financial performance and guidance ... growth opportunities, initiatives to enhance operational performance, and long-range ...
Breaking Medicine Technology: