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Car Insurance ● Feb 27, 2022

Car Insurance Basics

Car Insurance Basics

So you’ve just finalized the deal on your brand new car from the dealership. Now you’re being sent to the motor licence issuer to get a plate and registration so you can drive that sweet ride home. However, before you do that, you should probably consider all your options for insurance…

Your basic insurance on your plates and SGI registration will cover your vehicle for all physical damage, and a basic amount of liability. For some people, that’s enough coverage. However, for most others, they’re going to be wanting a little more. Here’s some helpful tips on what to know and what to bring with you when you see your broker:

  • First and foremost - register and licence your vehicle. Your broker will require a plate number in order to put a package policy on your vehicle. Make sure you speak with a motor licence issuer prior to seeing your broker!
  • Bring in all your paperwork. To get you the best coverage and provide you with a quote, your broker is going to need a copy of your bill of sale, the N.V.I.S - a document that certifies your vehicle is new (your dealer should give this to you), and of course your registration and drivers’ licence. If you’re vehicle is leased, be sure to bring in a copy of the lease agreement.
  • Other package policies? If you already have a package policy, let the broker know! Multiple vehicle can be put on the same policy which will save you time and money!
  • Driving history. Your broker needs to know if you’ve had prior auto insurance claims in order to give you an accurate quote. Once we submit your application to the insurance company, the rates may come back different from the quote if you didn’t disclose certain aspects of your driving history, such as driving suspensions, insurance claims or collisions.
  • Other details. Here’s some miscellaneous albeit infrequent issues that pop up:
    • If you’re using the car for a business, you’ll need to let the broker know so that you’ll be properly insured.
    • If someone other than the vehicle owner will be regularly driving, let the broker know. It’s a simple but necessary matter to add a second driver to your policy.

With luck, you’ll step out of the insurance office not only with a fresh new licence plate and registration slip, but also a comprehensive package policy with many additional features not included with basic insurance.

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