Top 10 Questions to Ask Your Insurance Broker
Okay so you’ve used the free insurance tool, received a personailzed quotation, and were connected to a top auto-insurance company that offers the best deal for you. Now what? What questions will you ask them?
We want you to be as informed as possible in the process. Ask as many questions as you need and don’t hesitate to ask follow-ups. Remember that car insurance is mandatory for operating a vehicle in Canada driving uninsured can have serious consequences. By going through some of these questions, you’ll be able to ensure that you get the best, most informed deal possible. This will also prevent blind spots and hidden charges in the coverage.
Which insurance provider is the best for me?
Our free auto insurance quote tool gives you the information to compare the best-personalised deals across the top insurance companies based on your answers. You can then choose to be connected to an insurance expert to ask further questions and follow-ups. What is best for you now may not be the best for you a few years down the line or if your life circumstances change. Find out how to change your car insurance mid-policy in such a case.
When does the policy renew?
This is an important question to ask. Your insurance provider should send you a notice by mail or digitally, but the policy will renew automatically. Your insurance policy may be getting more expensive or providing less coverage over time or there has been a change in your circumstances and that makes you eligible for certain discounts. There can be different reasons as to why your current policy is not the best one for you but renewal season is ideal for shopping around for better deals and discounts.
Who else can drive my car?
Your car insurance is tied to your vehicle. This means that the legal responsibility in case of an accident falls on the name on the stated owner or joint owner. If you are listed as an owner, you will be responsible for the damages and increased premiums. It is a good idea to ask your insurance broker about adding another driver to your vehicle if they frequently drive. Ask follow-ups about who can be considered as a secondary, primary, or occasional driver. If instead, you wish to transfer the ownership of your car, read this guide.
Are there any exclusions to the policy that you should be aware of?
Despite you seeking the most comprehensive of policies, there might be some things that an insurance provider does not have coverage on. These may be explicitly stated by the insurance provider or maybe a hidden risk. This makes it even more imperative to inquire. Don’t hesitate to ask for specific examples of circumstances that the policy does not cover to help you make an informed decision.
What is your deductible?
The deductible is the amount of money you agree to pay in case of an at-fault or a partially at-fault claim. You pay this out of pocket before your insurance provider covers the remaining cost. Typically, you decide this amount. This is applicable only in cases of comprehensive or collision coverage. Increasing this amount can reduce your premiums, but be careful to not state an amount that is financially out of reach or impractical for you. Find out how much car insurance you really need or check out our free auto insurance quote to compare top insurance companies in a personalised way.
What happens if you miss a payment?
Missing a payment on an insurance policy is considered really serious. Your policy may even get automatically cancelled and this leaves serious consequences. Your car loan provider may move to repossess your vehicle or purchase a policy for you. You stand to lose your license if you drive without coverage and this gap may even increase your insurance premium. It is important that you discuss this with your insurance provider beforehand to inquire about the flexibility of their policy. Communicating your needs is equally important, for instance, if the first day of the month does not work for you or the risk if you are unable to pay your bill in full.
Is there a first-time accident waiver in the policy?
Accidents can sometimes be unavoidable and may happen. While there are several steps you need to take right after an accident, you may also be worried if your insurance premiums are at risk of increasing. This is likely if your policy does not include accidental forgiveness. This should never be considered the default for policies and you should always remember to ask your insurance provider the details. However, this only applies to single incidents that do not fall under the Ontario Highway Traffic Act such as careless driving or if you’re charged with a major driving conviction. Your driving record and other factors may also determine your eligibility for it. This guide outlines how to get a cheap rate even as a bad driver.
How do you file your claims?
This question may seem like a no-brainer but it is important to know the process so that in case of an accident, the process of filing a claim is not something that you are most worried about. You should know the steps to get your refund as quickly and as efficiently as possible. You should also find out if you need to file it electronically, contact the broker or insurance company directly or if there is any specific information you need to provide.
Are there any discounts you qualify for?
It is free to get a quote on our website that automatically tells you about personalised insurance quotes that best fit your need. However, it’s always good to ask if there’s an additional discount or an offer in the near future that may apply to you. Also, things like a driving school certificate, a telematics device, an investment in winter tires, and your own driving history can help you successfully get discounts. Some providers may give a discount for a green vehicle or car insurance may be slighter cheaper if you’re married. You should also ask if there is a loyalty discount or if your auto insurance is due to go down.
Do you live in an area more prone to certain kinds of risks? What options do you have to protect your vehicle against this?
Your location-specific risks impact your premiums. You should take your insurance coverage into account for any particular risk you might face. Whether it is travelling through a highly accident prone area, living in a hail prone zone or simply being classified as a high risk driver, you should inquire about the details of your coverage that pertain to this. You should also ask questions around coverage in different provinces or in the U.S. if you regularly drive through them. Ultimately, you must consider your specific life circumstances that could impact your insurance risk and coverage. Our free quote makes it easy (and free!) for you to assess different auto-insurance quotes across top providers.