Although Steven has been driving for many years, it felt like his first time all over again when he bought a new car. He had recently imported the car from the U.S. and it was a big deal for him.
September 13th 2015 marks the 5th annual Rally for Vita – a fundraiser supporting Vita Community Living Services. This years efforts are going to raise funds to equip a training kitchen at Vita CLS. The training centre provides adults with developmental disabilities and mental illness with practical skills that lead to independent living or greater independence in everyday life. For members that have the opportunity to learn in the kitchen, Vita’s goal is to help them find employment within the hospitality sector.
So, the Ontario government mandates everyone who wants to drive a car must have 2 main things; A valid drivers license, and car insurance. We buy vehicle insurance because we have to. We are required by law to be financially responsible for any accident we cause.
The Insured — the registered owner of the vehicle
The Vehicle — self explanatory. There are vehicles other than cars and vans that can be covered on an insurance policy., such as recreational vehicles and trailers. (i.e ATVs, snowmobiles, trailers)
The Coverage — there are compulsory and optional coverage available. The compulsory coverages are:
Third Party Liability — also called legal liability coverage that provides insurance for bodily injury and property damage arising from the use, ownership, or operation of a motor vehicle subject to exclusions (i.e vehicle use, war, limitations of who may drive the vehicle, and more)
Accident Benefits — coverage for costs arising from bodily injury to the driver and passengers including medical and funeral expenses, disability and death benefits.
Uninsured Automobile — coverage for bodily injury to the name insured and to any passengers in the vehicle in a situation where the other driver is uninsured or worst, is unknown (i.e hit and run accidents).
The optional coverages are:
All Perils Coverage — this is an all – risk coverage. This is the broadest coverage.
Collision or Upset — this coverage protects the insured against loss or damage to the vehicle resulting from collision with another object which is in contact with the road surface.
Comprehensive — this coverage includes damage to insured’s vehicle resulting from any peril other than collision.
If you are tired of reading, one of our experienced Advisors will be more than happy to assist you in defining the right policy for your needs, they LOVE to chat about vehicle insurance!
We’ve established that insurance is a necessity, so if we have to buy it, we want to ensure we are getting the best deal for our dollar. Call us now!
If you have a beautiful vintage vehicle that is 25 years or older with collector characteristics that is a limited use vehicle for occasional use and collector car activities, you will want to look at TSG’s Antique / Classic car insurance. The car cannot be your daily vehicle and the appraised value must be less than $150,000.