One of the biggest questions for Canadians is what their auto insurance company is paying for, and the answer is surprisingly varied.
While most auto insurance policies have a minimum limit of $50,000, there are also some that limit your insurance premiums to $5,000 per accident, $20,000 for a car collision and even $20 for an auto injury.
Here’s what you need when you buy auto insurance.
When you buy a car insurance policy, you’re choosing between two different insurance companies.
If you have a family member who lives in your home, you might choose a policy with the company, which pays you an average of $30 per day for your coverage.
If your family member is a student, you may choose a company that covers them for the same price.
If you live in a condo, there’s a third option that covers you for the entire year, while the same company covers you only in the first year.
You might want to consider the company that provides you with your vehicle insurance.
For example, a company called CarInsurance will insure you for 90 per cent of the costs associated with your car.
Another option is the BMO Auto insurance company, who will insure your vehicle for 90.3 per cent and pay you a $10,000 deductible and $1,000 in annual premium, if you get a $1.5 million claim.
If that claim comes up, the company will pay the full $10 million, while paying the other 20 per cent to cover your costs.
If your insurance company doesn’t pay you for what they cover, you can always ask for a write-off.
If the company covers all the costs, you should pay less than what they covered.
In fact, if your car insurance premium is more than what the insurance company covers, they may have to write-offs some of your costs, and it could put a major dent in your car coverage.
A write-down can be a good idea for some people.
If a policy pays out 100 per cent, for example, that’s a write off, but if the policy only covers 40 per cent for an injury, the insurance will only pay out 10 per cent.
If it only covers 20 per to 40 per per cent it’s a wipeout, so it may be worth looking into another insurance company.
The best way to compare insurance companies is to compare your policy with other policies that offer the same coverage, but have different rates.
For example, if a policy gives you coverage for 80 per cent in the year and 40 per in the next year, but it pays out 70 per cent or less for an accident, that could be considered a write down.
In addition, there could be a range of benefits you can receive from a policy, depending on what you buy.
Some insurers offer health insurance, while others offer car insurance.
If there’s an auto accident, the policy may provide extra coverage for your family.
If insurance costs are relatively high, you could receive a discount on the premiums, which can be great if you have high deductibles or have a high deductible.
In some cases, a car will only cover part of your liability, so a car accident is unlikely to cover all your losses.
This is particularly true if you live near the edge of the road, so you might not get all of your damages covered, for instance.
In this scenario, it might be better to take a policy that only covers part of the cost of your accident.
The policy will cover the full costs, while your vehicle will get a smaller discount if you pay the deductible.
When buying auto insurance with a third-party company, be sure to ask about coverage limits and exclusions.
It can be tempting to buy a policy without knowing your coverage limits, but there are ways to find out what’s covered and excluded.
Here are some of the major coverage types:The policy is a “bond” policy, meaning you pay a percentage of the policy’s value if the car is involved in an accident.
This can be an issue if your vehicle is involved with another car, or if you’re traveling with a family.
In this situation, you need a policy to cover the accident.
If no one was in the car at the time, your car may not qualify for a policy.
If a policy only has a deductible, you’ll pay less of a premium for the coverage if you are injured or killed.
In addition, if the insurer does not pay out the full amount of the deductible, it may not cover all of the damage.
If, for whatever reason, you don’t qualify for coverage, you will not get any of your money back.
If this is the case, you are responsible for paying for the full deductible and other costs.
This is an example of a “no liability” policy.
This policy only provides coverage if your driver is injured.
In these cases, you get the full