No-Fault Insurance in Kingston, Ontario
Ontario has something called “no-fault insurance,” which means that if there are two drivers involved in an accident, their insurance providers will only pay for damages done to their vehicles. Fault can still be assigned for other reasons, but it doesn’t affect claims payout. Part of your Kingston auto insurance policy is dedicated to this protection. The idea behind “no-fault” insurance in Ontario is that it makes the claims process simpler.
Comprehensive Coverage Option for Kingston Auto Insurance
If you are assigned fault during an accident, your Kingston auto insurance policy can include comprehensive coverage as additional insurance which will protect you from having to pay out of pocket for your car’s physical damage repair costs. In order to have your insurance company cover the costs of the damages, you will first have to pay the deductible. A deductible is a pre-determined cost which can be higher or lower based on your preferences, but ultimately a higher deductible will result in lower car premiums. Comprehensive coverage can protect you and your vehicle from damages resulting from acts of vandalism, falling objects, fire, collisions with wildlife, theft, and more. It can also cover glass repairs, and if you repair the chip before there’s any cracking your insurance provider might waive your deductible.
Collision Coverage Option for Kingston Car Insurance
Collision coverage is also a supplementary add-on to your current Kingston auto insurance policy and is available for a relatively affordable price. This protection can cover you from anything from hit-and-run situations to parking lot incidents. Like with any insurance protection, read over your policy to see what you’re covered from. Just like with comprehensive coverage, your collision coverage protection is also subject to a deductible. This deductible is, on average, roughly $500, but plenty of insurance providers will allow you to manipulate this price based on your personal needs.
Accident Benefits for Kingston Auto Insurance
Drivers should be conscious of their coverage options no matter what. While the Ontario government does offer drivers basic medical benefits for if they’re involved in a car accident, the coverage may not be enough for everyone. At McDougall Insurance, we recommend that our Kingston clients look over the options that their business might offer in terms of health plans and what their current family needs are. A policy’s basic limits may not be suitable for protecting drivers from every risk on the road. By adding accident benefits onto your current Kingston auto insurance coverage, you can cover any possible gaps in your current insurance policy.
Loss of Use Endorsement
A Loss of Use endorsement, sometimes called OEF20, is additive protection that you can include in your Kingston auto insurance policy which will cover the costs of rental vehicles if the car you normally use is out for repairs. OEF20 is cost-effective, and beneficial if you don’t want to go through the hassle of having to find your own transportation while your car is out of commission.
Liability for Damages to Non-Owned Automobiles Endorsement
This endorsement is good for those who travel and use rental vehicles, especially if you want to avoid having to pay rental agency insurance rates. This can be pretty costly since some rental agencies will charge insurance rates by the day. This liability coverage is applicable anywhere in Canada and the United States, although there are certain limits. Check in with your insurance broker beforehand.
Limited Waiver of Depreciation Endorsement
OPCF43, or the Limited Waiver of Depreciation endorsement, is a supplementary coverage option that can waive depreciation on any new vehicles that you purchase and can be applied for 24 to 48 months. If the new car that you buy is involved in an accident one to two years after its purchase, you have the option of replacing it with a brand new vehicle or you can receive the exact value of your previous car of when you purchased it and not the depreciated price. Your current Kingston auto insurance policy can benefit from having this endorsement because it makes the most of the value that you would get in claims situations for new vehicles. In order to purchase this endorsement, you need to show your purchase proof or a bill of sale.