Many Canadians admit to being in the dark when it comes to their auto insurance rates and policies. How about you? Put yourself to the test!
True or False?
- A parking ticket will affect your insurance rates.
- The colour of your car will not have an affect on your insurance.
- Speeding tickets for less than 10 km over the limit will not affect your rates.
- ‘No Fault’ insurance means if the accident is not your fault, your insurance company pays nothing.
- If you lend your car to a friend and he/she is in an accident, his/her insurance company will pay for the damage.
- Your health is not factored into the price of your auto insurance.
How did you do?
Check below to see how you fared:
- False – parking tickets negatively impact your wallet, but have no effect on your insurance.
- True.
- False – all convictions affect your rates.
- False – In “no-fault” provinces, the term refers to the entitlement of anyone injured in a car accident to receive accident benefits for bodily injury regardless of who was at fault; all damages and payments are paid by each person’s own insurance company, but only the “at-fault” driver will see an increase in premium.
- False – your car is your responsibility. If you lend your car, you lend your driving record as well.
- True.
Lesson to Learn –
Even if you scored well on the questions above, it helps to know as much as you can about your auto insurance policy. Don’t hesitate to call your insurance broker and ask for a detailed description and, if you have any questions, feel free to ask.
