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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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