Auto Insurance
"As soon as you buy your car, you absolutely must buy insurance for it. Besides, the law requires it"
When you look at it, operating a car without any insurance is a seriously unwise thing to do. For one, so much is out of your control when you venture out onto the roads. You may get side-swiped by an uninsured drunk driver. You can even bump into a stationary car while trying to squeeze into a narrow parking spot.
Even when you are not driving the vehicle, risks still abound. Mother nature can throw a curveball and the car may get washed away in flash floods while you are lawfully parked and sheltering in a restaurant.
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Auto Insurance Is Compulsory In Ontario
In many ways, buying insurance for your car is for your own good. In fact, it is so important that the Province of Ontario makes it compulsory that you must carry auto insurance. This means if you are Mississauga, you will be breaking the law if you operate your automobile without valid insurance.
In fact, in Ontario you must show proof that you have bought valid insurance for you to register the vehicle. If you are caught trying to use false insurance documents or flat-out driving with neither car insurance nor valid registration you will be facing fines of between CAD5,000 and 25,000. That’s a hefty price to pay for something you should be doing for your own sake.
Why Buying Auto Insurance Is So Important
It is possible that you may never get involved in a car accident and therefore never need to make a claim. However, the high traffic accident rates in Ontario make it statistically likely that you will be in at least one accident in your lifetime. In fact, Mississauga is among the 20 cities in Canada with the highest frequency of car collisions.
A good auto insurance policy will include coverage for any injuries or deaths, damage to other people’s property, the car itself, as well as yours and the medical bills of those injured in any accident you may be at fault for.
Get A QuoteDriving Without Car Insurance Puts You In Legal and Financial Peril
Now, without valid insurance, liability and costs an accident that causes injuries, death, and damage to property will literally bankrupt you as you will have to pay for it out of pocket. If you are also injured, consider your own medical bills and time spent away from work. Quite honestly, these are risks you cannot shoulder on your own and which you should insure against.
A single accident can attract damages, liability, and costs running in the 10’s of thousands, quite literally dwarfing premiums you would have paid for years. Let’s also not forget that driving without valid insurance puts you in legal trouble on top of being on the hook for the accident’s financial toll.
If you are a new car owner or have been dutifully paying your auto insurance premiums but have never filed a claim, buying or renewing your car’s insurance policy may seem like a sunk cost. It is far from it.
Beware Of Insurance Fraud - Use A Licensed Auto Insurance Broker
So we have proved the necessity of auto insurance. Now, you could undo it all by buying auto insurance from unlicensed brokers. Insurance fraud, including fraudulent and inflated claims cost Canadian insurers over $1 billion. This also includes fake auto insurance products sold by rogue brokers and agents.
Imagine realizing what you thought was valid insurance is fake when you are stopped by a police officer and charged for driving without insurance? Or worse, when you only realize it after you have been involved in an accident and are trying to make a claim for accident benefits?
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The auto insurance experts at Able Elite Team will work with you to find the best car insurance policy for your needs and budget.
Prevent auto insurance fraud and protect yourself by only buying auto insurance from licensed brokers. In Mississauga, the Able Elite Team is a trusted, licensed insurance brokerage that works with Canada’s leading auto insurers.