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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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