Liability limits. We’ll cover you and the people on your policy for valid claims, and the cost of settling those claims, if you’re held liable for injuries or damage to someone else’s property as a result of an auto accident. Tip: Minimize how much you could be financially liable for in the case of a major accident by increasing this limit.

Extra coverages. If your vehicle would cost more than the deductible amount to repair it, you might consider adding Collision: Your Fault and/or Comprehensive coverage. If your vehicle is involved in a collision with another object or tips over, Collision coverage will help cover the damage. Comprehensive covers your vehicle against loss or damage other than what’s covered by Collision. This includes falling or flying objects, missiles and vandalism, and all the things listed under Specified Perils.

Payment options vary between each insurance company, but typically your options include three options:

• Credit card (1 to 4 separate payments)
• Direct withdrawals monthly
• Cheque (1 to 4 separate payments)

There are a number of factors we look at to help determine your rate. For instance:

• Number of past claims
• Information about you (e.g. how many years you’ve been a licensed driver)
• Traffic violations (e.g. speeding tickets)

Also, each province has government regulators that oversee how prices are determined by insurance companies (though, this doesn’t apply in Quebec).

It’s a whole lot of math and statistics. Basically, we look at a complex set of factors that determine your rate. For instance:

• Where your home is located
• Home structure, age, heating equipment, etc.
• Size of your home
• Number of past claims
• Information about you (age, etc.)

All the information we access about properties in your area is public data. A variety of service providers maintain this data. We just assemble it to simplify the quote process and get you the most competitive price.

Switching policies at renewal time is always the cheapest option, it incurs zero cancellation penalties. However, if you want to cancel policies mid-term to switch to MacLachlan Insurance Inc there will be a small penalty with your prior company. Visit our cancellation calculator to get a rough idea of the cost.