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Best Car Insurance Rates in Ontario

Insurance Buddy™ is an online insurance quote system committed to providing complete quote accuracy, operated by INSUREIT GROUP INC. Our goal is to provide the best car insurance rates while maintaining the highest standard of service. It is our mission to drive down your auto and other insurance rates by providing an online rating system based on your driving profile. This site was created to help you find the cheapest insurance rates in Ontario for car and home.

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Recent Blog Posts

Signs Your Brakes Need Some Attention

Failing brakes

Arguably one of the most important components of your vehicle, at least when it comes to safety, are your brakes. If you’re having brake problems, you want to address them long, long before they fail. For your safety, and for that of others. You could get in a car accident that results in vehicular damage, or much worse, harms your person or others.

To avoid any unfortunate brake related incident, and the resultant car insurance claim, you should always be paying attention to your brakes while you’re driving. Some signs that your brakes are failing are pretty obvious. Others are subtler. Here are some common indications that there is something going wrong in the braking department…

~ Perhaps the most obvious sign, when you push on the brakes they made a noise like squealing, grinding or banging. If you hear anything like this, go and get your brakes checked out immediately.

~ The brakes either stick or you notice a loss of engine power as you are driving. This may indicate that your brakes aren’t releasing properly and could lead to a worst case scenario – total brake loss.

~ The car pulls or veers to one side when you step on the brakes.

~ When you lightly apply the brakes, you notice that they are grabbing. Loose or broken parts could be at play here. This should be checked out.

~ If you find that you really need to push down hard and apply a lot of pressure (think your foot and the pedal almost at the floor of you car) to get braking action, your brakes might be worn out. Time for a replacement.

~ Vibration is not a good thing. If you notice either the brake pedal, the steering wheel or even the entire car vibrating when you apply the brakes, time for a trip to the mechanic.

We’re providing these general tips as a service to you but remember, we’re insurance brokers, not car mechanics. So, it you’re not sure if what you’re experiencing is described above, or if you know that something is wrong but not quite sure what, listen to your gut and get a professional mechanic to check things out. Better to get a clean bill of health for your car, than to have to deal with the repercussions of not acting or trying to avoid another bill to pay.

At the very least your car insurance rates will suffer. And at the very worst… well, let’s not go there.

Need some advice or information about car insurance in Toronto and Ontario? That’s where we’re the experts. Learn more here or just get in touch with us.

 

Image source: FreeDigitalPhotos.net | Stoonn

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Insurance Terms Defined – Actual Cash Value versus Replacement Cost

ACV Replacement cost

 

There is a lot of very specific vocabulary in the world of insurance. Do you sometimes find yourself scratching your head at the jargon? You’re not alone!

In this post, we’re going to get into two very common terms in insurance: actual cash value and replacement cost. When you’re looking for the best insurance rates, it’s important to understand what these phrases mean and how they apply to your home insurance and other insurance coverage.

Actual cash value

Actual cash value (ACV) refers to what it would cost to currently to replace an item with a similar one in the same condition. It’s essentially a valuation of what an article is worth today, taking into account wear and tear. So a sofa that you bought back in the 80s would be valued at less than a sofa that was bought just a few years ago, for example. The insurance company will be looking to figure out the value of the actual article.

Replacement cost

Replacement cost refers to what it would actually cost to replace the item right now. There isn’t any deduction for depreciation factored in. So to go back to the sofa, if yours is destroyed, with an insurance plan that offers the replacement cost, you will get what a similar sofa is worth now, regardless of how worn out or old the sofa in question was. You’re given what you need to replace the item with a comparable, new one at current retail values.

Which one is best?

Wondering what you should go for with your home insurance? If you’re looking for the cheapest option possible, generally plans based around ACV are less costly. They pay out less benefits which allows for the savings. If you don’t have a lot of stuff, or tend to buy frugally, such as choosing second hand over brand new, ACV could be a good option for you.

However, for many people, going for replacement cost is worth the additional premiums as you will get more out of it should you need to make a claim. Your insurance broker can discuss these options with you and assist you in selecting the right coverage, at the right price.

Have some other insurance jargon on your radar that you’d like clarified? Check out our full glossary of insurance terms here.

Not sure what direction to take with your home insurance coverage? Need some guidance on what would be best in your scenario? Get in touch with us today.

 

Image source: FreeDigitalPhotos.net | Stuart Miles

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