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How much liability
should I buy? |
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As much as is available to you.
Most companies will sell up to $2,000,000 on an auto
policy. The difference in premium is usually low
between $1,000,000 to $2,000,000. We strongly recommend
you buy $2,000,000. |
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Does my car insurance
policy cover me anywhere in the world? |
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No. Your car policy covers you for
accidents occurring in Canada or the USA. |
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Do tickets in the
USA affect my insurance rate? |
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Possibly. Some states exchange driver
information, such as convictions with the Ontario
Ministry of Transportation. Therefore, they can affect
your insurance rates. |
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What are accident
benefits? |
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These are benefits you may receive
if you or your passengers are injured. These benefits
can be collected regardless of who is at fault (there
may be some exceptions). These benefits may include
lost income, medical benefits, death benefits including
funeral expenses. |
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What are Fault Determination
Rules? |
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These rules were set out in regulation
under the Insurance Act and are common accident situations
and how they must be settled in the issue of fault
and percentages of fault for people involved. |
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What is C.L.E.A.R.?
I have heard the term but do not understand what
it means. |
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The Canadian Loss Experience Automobile
Rating System is one of the most common systems used
by insurance companies, to calculate automobile insurance
rates. This system bases rates on such things as
the cost of repairs, the models claims experience,
frequency and severity of injury claims, frequency
of theft, etc. |
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What is direct compensation? |
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This coverage protects your vehicle
in accidents that are not your fault. It is mandatory
in Ontario, Canada. You deal with your company. |
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What is No Fault & At
Fault? |
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The Ontario, Canada insurance system
is referred to as No Fault, which basically applies
to the personal injury portion of your policy. It
refers to receiving medical attention/lost income/etc.
Regardless of whose fault the accident was. The Term
At Fault is something different. If you are involved
in a vehicle accident, the damages to your vehicle
are assessed by your company and they are required
by law to assign the percentage of fault for each
driver involved in the accident. In many cases, Fault
Determination Rules determine the percentage of fault. |
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Must all my vehicles
be insured with one company? |
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No. You may insure your vehicles
with as many companies as you wish on an individual
vehicle basis. Generally, people insure their vehicles
with one company so they can take advantage of a
multi-vehicle discount. This discount varies from
one company to the next, from anywhere between 5%
to 15%. |
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