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Car insurance: reasons and types

car loans

Our clients often ask: In general, why should I insure a car? What am I paying the money for, maybe I do not need the insurance at all? We have asked our trusted partners - Toronto brokers to answer these questions and that is what they have decided – it is more than necessary. Besides, insurance is a mandatory requirement when you are taking out a loan to purchase a car. Find here how to get a loan for bad credit guys at your local car dealer.


The road is full of surprises. Every person, who spends a lot of time driving an auto, knows the price of driver's mistake. Unpleasant surprises are waiting for an owner of a beautiful, brand new car at every turn. Let's not talk about tragic accidents: they are mentioned too often in the media. But often various situations arise that may lead to the need to contact to service center, for example, all kinds of dents, scratches and chips. A small pebble is enough to spoil the mood of the driver and incur additional costs.


It is really impossible to avoid such situations. But you can greatly alleviate those unpleasant costs, often very expensive, to which these situations lead. To do this, you need to insure your car. In this case, financial side of repair or restoration work becomes a responsibility of insurance company.


There are three main types of auto insurance in Canada: Mandatory: Each province states a minimum amount of money a drive must have to take to the road. Each province establishes a minimum third-party liability to cover medical payments, death benefits and funeral expenses.


Collision: This type of insurance protects a car owner in the case of a collision with another car or any other object. The price on it varies depending on a number of factors such as driving record, age, province, and more.


Comprehensive: This type often covers fire or theft, protecting your from total loss of the car. It allows you to replace your car fully even in the case of any natural disaster.


Ella Lawson partnering with Guthrieinsurance.com - auto insurance brokers in Toronto about the most winning types of policies.


Read how to take a car loan with a bad credit




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