Compare Quotes
HomeCar Insurance ResourcesCar Insurance for New Drivers in Ontario

Car insurance for new drivers varies among insurance companies and age is a major factor that impacts how much fees a new driver would have to pay for insurance coverage. The table below gives an estimate of insurance fees based on the age of the driver.

AgeMonthlyYearly
16$603$7,229
17589$7,079
18$620$7,450
21$362$4,351
25$248$2,984

For new drivers, insurance can be like a warm blanket because they know that in the event of accidents, theft, and other unfortunate events related to the car, the insurance company has got them covered. In Ontario, all drivers are required to have car insurance before they operate their vehicles and if you are confused about how to go about your car insurance, this article will inform you on all you need to know.

How to get Car Insurance for New Drivers in Ontario

Shop around

The first thing to do when you want to get insurance for the first time is to shop around, it is not usually recommended to settle for the first insurance company you see without comparing rates. Visiting different insurance companies and looking through their policies and offers would also help you familiarize yourself with the whole process of insurance and it will help you settle on the company that is just right for you. A great way to research insurance companies is to ask friends and families about their insurance companies.

Get your driver and vehicle information

When you have decided on the insurance company for you, you would be required to bring important information concerning you and your vehicle. The information usually includes:

Basic information including name, address, and date of birth

Driver’s license information

Vehicle information including make, model, year, and vehicle identification number.

Determine how much car insurance you need

You also need to figure out just how much insurance you need. For new drivers, this might be difficult to do but it is recommended that you ask someone experienced in the field. That way, you get to know just how much insurance you need to ensure that you are not underinsured or overinsured. The types of Car insurance coverage you would need to consider include

Liability coverage- This pays for damages or injuries you cause to another person while driving in the insured car. This includes bodily injury liability and property damage liability

Collision coverage- This pays for damage caused to your car in the event of an accident regardless of who caused the collision.

Comprehension damage- This coverage pays for damages resulting from non-collision events including theft, vandalism, natural disasters, and fire.

Personal Injury Protection- In the event of an accident, this insurance coverage pays for the medical expenses for you and the passengers in the car at the time of the accident

Uninsured motorist coverage- In the event of an accident with an uninsured driver, this insurance covers you

Underinsured motorist coverage- This insurance coverage protects you in cases where you get into an accident with a driver who does not have enough insurance to pay for the damages caused.

Towing and labor coverage- This coverage helps to cover the costs of towing your vehicle to a repair shop if an accident occurs

Ask for discount

Insurance companies offer discounts from time to time. Ensure that before you pay for your insurance premium, you ask for discounts available to help ascertain if you are eligible for any of the discounts available

Purchase your Insurance

Some insurance companies offer discounts if you can pay the full insurance fee upfront, it all depends on your financial situation at the time. Also, ensure that you pay your insurance premiums on time to avoid situations where lapses occur. As soon as the payment is complete, your insurance company will send you a proof of insurance document, this could be sent through fax or to your e-mail.

Consider taking a driving education

Insurance premiums are usually high for new drivers, this is because owing to their lack of driving experience, insurers tag them as risks and charge them higher rates but for new drivers who participate in driving education, insurers offer them discounts since they have shown commitment to safe driving

Practice safe driving

If you sign up for insurance with an insurance company that monitors clients’ driving habits, you would be able to save some money on your insurance premium if you practice safe driving.

Bundle your insurance

This simply means buying more than one insurance policy from a single insurance company. There are many perks of bundling your insurance, one of which is the massive discounts you get access to.

Purchase cars with low insurance

Generally, cost-friendly cars usually have low insurance rates and it is recommended that if you seek low insurance rates, purchasing an affordable car is one of the best ways to achieve this. To do this, you would need to research the insurance rates for your car of interest before making a purchase

Modifications

Insurance companies tag new drivers as high risk, this is mostly because they do not have experience and are likely to get into accidents if they do not take certain precautions. For this reason, insurance companies usually up the ante as soon as a new driver walks in but you can circumvent this by adding safety features to your car that would help protect you and your car. Adding features like these show your insurance company that you are committed to being a responsible driver and this allows them to offer discounts

Consider usage-based insurance

Usage-based insurance companies monitor their clients’ driving habits and offer them insurance policies best suited for them. If you practice safe driving, usage-based insurance companies are your best bet as they offer you discounts for safe driving.

Conclusion

When it comes to insurance, look beyond the cost. It is good to find affordable insurance rates but understand that cost is not everything. You need an insurance company that is very reputable and if you get into a situation where you have to choose between a reputable insurance company with high insurance rates and a not-so-reputable one with lesser insurance fees, you should insure your vehicle with the reputable company, this would ensure that in the event you need to file a claim, you are rest assured that your insurance company will do right by you.

 

About the Author: Rate Lab

Leave A Comment

Continue Reading