car insurance

Car Insurance Essentials: A Beginner’s Handbook for Protection

Struggling with the monotonous lives, learning how to drive a car is more than a necessity. Surrounded by crowded places, congested public vehicles and so on, an individual always prioritizes its comfort parameter. However, along with the comfort comes the safety and security of your newly bought car. It is seen that while learning a car, there are many challenges that an individual faces, this stands true considering the safety of oneself, the passengers in the car with you, the car itself etc. This is where car insurance comes in. 

Car insurance protects against financial loss in the event of any particular accident. It is a contract between the policyholder and the insurance company. When buying car insurance for the first time, it is important to understand what it is, what it covers, how it works, how much do you need and how to buy it. This comprehensive guide aims to unravel the complexities of car insurance in Burlington. Let’s get started!!

Car Insurance In Burlington

According to the law in Ontario, it is mandatory for all drivers in Burlington to possess a certain amount of insurance in order to get behind the wheel. The car insurance is divided amongst two parameters – premium and coverage. 

First up is the premium: the premium is the amount that an individual pays to the insurance company, generally, on a monthly or yearly basis. You also need to pay the deductibles out of your pocket before your policy kicks in. The deductibles and the premium are inversely proportional to each other. The higher the deductibles, the lower will be the premium. And it follows vice versa.

Then, there are coverage limits that are included in the car insurance as the second parameter. These are the big amounts that the insurance company pays to an individual  – for a particular type of claim. For example, if you have an insurance policy of $70000 and you have suffered a damage of $90000 in an accident. Ultimately, the insurance company will pay you the total amount of $70000 and $20000 will be an out of the pocket expense.

Types Of Coverages

  1. Liability Coverage – This coverage included the bodily injury and property damage coverage that the policyholder and the family members listed in the policy cause to someone else.
  2. Collision Coverage – This coverage pays for the damage of the vehicle on the name of the policy holder, in the case of an event or an accident, without considering who’s at fault.
  3. Comprehensive Coverage – Comprehensive coverage includes the payment for the policyholder’s event or accident but for falling trees, fire, and so on.
  4. Uninsured/Underinsured motorist coverage – This coverage includes the protection for the policy holder in case of collision or accident with the vehicle without any insurance plan.
  5. Personal Injury Protection/Medical Payment Coverage – This coverage pays for the injuries of the driver and the passenger of the policyholder’s car. It covers medical payments, lost wages and cost of replacement services. This might also cover the cost of funeral services.

The Car Insurance Claim Process

If during the driving session, the policyholder stands applicable for any of the coverages mentioned above, there are four steps one needs to follow with regards to applying and receiving the claim.

1. Providing Information

As soon as you recover from the incident, one should inform the insurance provider about the event immediately along with submitting all the necessary details.

2. Filling A Claim

After providing all the information to the insurance provider, the next step is to submit all the necessary documents , including the copy of the form, the copy of the FIR and other necessary documents.

3. Assessment & Repair

Proceeding the document submission, the insurance surveyor will assess the documents and the policyholder will be notified to take the car for repair in one of the network based shops.

4. Claim Settlement

After the process is completed, the insurance company will approve the claim and following this you can get your car repaired. You may need to also settle the deductible amount as agreed to in the policy.

Final Thoughts!!

Car insurance in Burlington can be a blessing for all the car owners. Now, as you know all about the car insurance and its coverage scope, you can embrace a newly bought car for a much longer period of time than usual. With Solidify Insurance, the best car insurance company in Burlington. you can choose amazing packages inclusive of a bundle of coverages, lesser deductions and affordable premiums.

Contact us now to protect your car from any mishaps.

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