The Facts
You can get your auto insurance at a rock-bottom price from an insurer selling ONLY the price. However, you may be disappointed if you have to file a claim. Who will help you if you disagree with your insurer? Is this a risk you are willing to take?
By doing business with us, you are sure to get the best coverage at a competitive price from an insurer that has the ability to pay your claim promptly. If the claim does become derailed, with a phone call to a Lanes representative we will get the claim put back on track!
An auto insurance policy is a contract between you and an insurance company. You pay a premium and, in exchange, the insurance company promises to pay for specific car-related financial losses during the term of the policy.
How much auto insurance is right for you? Here are a few things to consider when determining your automotive insurance needs:
Value of vehicle: If you are insuring an older vehicle it may not be wise to opt for "full coverage", this is because the amount of the premium and the deductible may amount to more than the value of the automobile. On the other hand, if you are driving a higher value vehicle you are probably likely to consider comprehensive and collision coverage.
01Collision Insurance coverage pays for damage caused to your vehicle in an automobile accident. Collision coverage will pay for any repairs up to the fair market value of your car. Collision coverage will include a deductible. It’s the amount of money you pay toward repairs before your collision insurance kicks in. The higher the deductible you’re willing to pay, the less the collision coverage will cost
02Comprehensive Insurance comprehensive coverage covers damage caused to your vehicle by perils other than collision or upset. Vandalism, flood, hurricane, theft, windshield damage and fire are all examples of events usually covered by comprehensive automobile insurance. Like collision, comprehensive will pay up to the fair market value of your car (less your insurance deductible). And, although it’s not legally required by any province, you will probably need it if your car is financed or leased.
Purchase vs. Financing: If you are financing your vehicle, the financial institute will most likely insist that you have this protection included on your plan.
Risk: The cost of repairing a vehicle can be very expensive and only being responsible for a small portion of the repairs in the unfortunate event of an accident can be quite beneficial!
Legal Requirements: In Canada it is illegal to operate a motor vehicle without third party liability.
