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Automobile rates are affected by many things:
Various Premium Discounts Available:
If You Are Thinking of Changing Insurer
Ask what happens to your classification if you have an at-fault or partially at-fault accident. Many companies allow partial forgiveness of the first at-fault accident and re-classify at the next rating category. Others do not, and this results in a substantially increased premium.
The Effect of Claims on Premiums
If you are at fault, or partially at fault, in a collision, your renewal premium may be affected.
Many companies allow one “at-fault” claim for clients believed to be good drivers and make little or no adjustment in rating or premium at renewal.
Claims for theft, vandalism, fire, broken glass and for collision when you are not at fault do not affect your renewal premium.
If you lend your car to others and they cause an accident, your premium may be affected.
A multitude of “at-fault” claims and/or driving convictions could result in your being transferred to the high-risk, high-premium Facility Association at renewal time.
* This information is published with the permission of the Insurance Bureau of Canada.
Premium discounts vary by company. Ask your broker what discounts apply to you.