Guelph is situated near many highways and has a thriving and diverse economy. For residents in Guelph, having a car is almost considered an essential if you want mobility to run errands, go to work, and do recreational activities. As a result, you are likely in the process of buying a new car, recently bought a new car, or looking at getting a different car insurance policy in Guelph.
By law, all vehicles registered in the Guelph area must carry at a minimum mandatory car insurance coverage of:
- Third-party liability coverage of a minimum of $200,000.
- Accident benefits to recover from collision injuries.
- Uninsured motorist coverage of minimum $200,000 for accidents by an uninsured driver.
- Direct compensation coverage for damages if someone else is at fault.
Drivers purchasing car insurance in Guelph, Ontario can also choose among the optional insurance coverage available, which includes:
- Collision insurance coverage.
- Comprehensive car insurance coverage.
- All perils.
- Specified perils.
Best Car Insurance Rates in Guelph Ontario
Finding the best car insurance rate for your specific needs is important. After all, owning a car and purchasing car insurance is a long-term and pricey commitment. When searching for the best car insurance rates in Guelph, it’s important to look at a balance between your budget and coverage needs. You don’t want to break the bank and pay more than you can afford, but you also don’t want to cheap out on coverage.
Some of the factors that can affect your car insurance rate include:
- Vehicle make, model, and year.
- Your age and whether you are a new driver.
- The claims and accident history.
- Your driving and insurance history.
- How much mileage you drive each year.
- The purpose of your vehicle – i.e., pleasure or business.
- Coverage amount.
- Type of car insurance you buy – i.e., collectors car insurance, high risk car insurance, commercial car insurance, etc.
Insurance companies have different ways of evaluating these factors to determine your risk profile and whether you are an acceptable client to insure. Your driver’s abstract and payment history will also be reviewed to determine whether you are a safe driver and have the ability to pay premiums on time.
For example, someone with a clean driving record, many years of driving experience, and a relatively safe car will be less risky to insure than a new driver with an expensive car and many driving infractions.