Find Cheap Car Insurance in Orangeville

Car insurance in Orangeville

Orangeville is home to more than 30,000 residents, including many who commute regularly throughout the GTA.

The area offers many of the amenities that city-dwellers rely on as well as easy access to more rural areas and to a range of outdoor activities. The region, north of Peel, is especially popular with winter sports enthusiasts – skiers and snowboarders – who pass through on their way to the Collingwood area, further north.

Though car insurance is mandatory throughout Canada, adequate coverage is an especially good idea for drivers in Orangeville. Afterall, many of them are spending a lot of time on the road and, as a result, may be more likely to be in a collision and file a car insurance claim.

The minimum mandatory coverage in Ontario includes Accident benefits, Direct Compensation Property Damage, Third party liability and Uninsured vehicle.

For drivers in Orangeville who would prefer more protection, a range of optional coverage as well as select endorsements are also easily available.

Here, we outline in greater detail the range of car insurance coverage available to drivers in Orangeville.

Mandatory coverage

• Accident benefits/bodily injury: Protects the insured against the cost of medical care for injuries from a collision as well as providing wage replacement, homecare and funeral costs.
  
• Direct Compensation Property Damage (DCPD): Protects an insured, who is not at fault for a collision, against the cost of damage to a vehicle, its contents and/or a rental car.
  DCPD allows the insured to be quickly paid by their own carrier rather than after a long legal battle following a collision.
  
  This coverage requires that the insured is Ontario-based and that the collision have taken place in Ontario.
• Third party liability: Protects an insured at-fault driver in the invent of a lawsuit if a third party is injured or killed in a collision. Also covers property, vehicle damage as well as medical costs resulting from a collision.
  
  While Ontario drivers are required to have at least $200,000 in TPL coverage, we recommend that they purchase coverage of at least $1 million. Legal and medical costs add up quickly following a collision and if you’re without adequate TPL coverage, you’ll have to pay the difference.
• Uninsured motorist: Protects the insured financially in the event of injury or death following a collision with an uninsured or unidentified driver.
  

Optional coverage

Drivers not satisfied with the protection that mandatory coverage offers can add coverage to their policy, including:

• All perils: Covers many perils. Broadly, has similarities to Collision and Comprehensive coverage.
  
• Collision: Covers car replacement, or repair costs, if insured’s car is damaged in a collision and they’re at fault. Also covers single vehicle collisions and hit and run accidents.
  
• Comprehensive: Covers damage by debris, earthquake, explosions, hail, theft, vandalism and weather events.
  
• Specified perils: Covers damage from a short list of perils that are specifically named in insured’s policy, such as, attempted theft, damage in transport, earthquake, explosions, fire, lightning, riots or windstorms.
  

Ontario endorsements

An endorsement is a way of describing a car insurance policy amendment that broadens, restricts or alters its terms. When you add an endorsement, you’re broadening the amount of protection available in the event of an insured peril such as a collision.

Some popular car insurance endorsements include:

• OPCF 20 – Loss of use: Provides coverage for the cost of a replacement vehicle following a collision that renders your vehicle no longer available to drive. This endorsement comes with All perils, Comprehensive or Specified perils coverage.
  
• OPCF 27 – Damage to non-owned vehicle: Coverage that extends the protection you already have in your car insurance policy to a vehicle that you don’t own. If your policy has ‘a 27’ you don’t need to purchase a Loss Damage Waiver when you rent a car.
  
• OPCF 35 – Emergency roadside: If your car breaks down and you need help, this endorsement will protect you against the cost of any labour required. This includes covering the cost of a tow, battery, gas or tire replacement and/or the cost of a locksmith.
  
• OPCF 44R – Family protection: If there’s a gap between your liability protection for you and those listed on your policy and that of a third party who’s found at fault during a collision, this endorsement covers the difference.
  
• OPCF 43 – Depreciation waiver: If you’re in a collision and your car is so badly damaged that it’s written off, this coverage will allow you to be paid out for its full value. This endorsement tends to appeal most to drivers who have a new car. It’s not necessarily worth the additional cost if you’re driving an older vehicle.

Though it’s ideal to be protected to the greatest extent possible, more coverage usually means a higher premium. It’s worth considering what coverage you need and what you can do without.

Since car insurance rates are subject to change, following approval from the Financial Services Regulatory Authority of Ontario, it’s always worth making sure that you’ve done what you can to manage your coverage costs.

Comparison shopping is a good first step to ensuring you’re getting the best coverage at the lowest rate.

What factors affect your Orangeville car insurance premium?

• Claims history: Insurance providers are always trying to gauge how likely a driver is to make a claim. When you have no history of filing a claim, you’re considered at low risk of doing so in the future. As a result, you’re likely to receive a lower car insurance rate. If you’ve made one or more claims in the past, expect your premium to be higher.
  
• Driver profile: Drivers with no history of tickets or infractions are likely to receive lower rates. If you’ve ever been convicted of a serious speeding offence or dangerous driving, expect your premiums to be higher for several years.
  
• Location: If you live and drive in a region with many drivers on the road, or a high rate of car thefts, expect to pay more. While car insurance rates went down in many parts of the province during the Covid pandemic because so few cars were on the road, they’re expected to increase again as more and more drivers return to their previous commuting habits.
  
• Vehicle type: If you drive an expensive vehicle that would be costly to repair or replace, expect to pay more for car insurance coverage. On the other hand, if you have an older car that has safety features such as airbags and safety alarms, you may enjoy lower premiums because an insurance provider would deem it less expensive to repair or replace.