Miriam Quiroz- Insurance Broker

04/19/2024

While it may be tempting to file claims for minor car dents or property damage, doing so could result in higher premiums. Remember, repair or replacement expenses below your deductible are typically not covered by your insurer. Additionally, reconsider claims with repair costs slightly exceeding your deductible, as your insurer may only cover a small portion of the claim, potentially leading to a premium hike. For instance, if you file a claim for a valued at $1,000 with a $500 deductible, you may recover $500 from your insurer, but your premiums could rise significantly, costing you more over time. Before filing a claim for minor damages or losses, consult with your insurance broker to determine whether it's worth the potential premium increase. Sometimes, paying out-of-pocket makes more financial sense in the long term.

08/05/2022

Telematics works using a device installed in your car or a mobile app that determines the level of risk by the way that you drive. Some insurance providers use a device, some use an app, and others use a combination of both. A few factors that insurance companies monitor using telematics are acceleration, speed, braking habits, and the time of day that you drive. Accidents are known to be more common between midnight and 4:00 or 5:00am. You can save between 5% and 30% depending on your insurer and your driving behavior. If you are a safe driver, telematics might be right for you. If you have high risk driving habits, you may get a surcharge.

Need to find ways to lower your premium? If you want to find ways to lower your rates, talk to us and we can help you get no-obligation quotes for you to review.

06/03/2022

FYI

Fact: Insurance doesn't always cost less when you buy a used car

A common misconception about purchasing insurance for used cars is that it is always cheaper to insure. The truth is that there are many factors that impact your rates such as the car make and model, its safety features, your postal code, your driving history, the type of coverage you want, and more. Your car’s age accounts for a small portion of your insurance premium.

Depending on your car’s age and value, you may be able to save on your premium by foregoing comprehensive and collision coverages—that is if you can afford to pay for repairs upfront.

Your PrimeService broker can let you know the coverage options available for your specific situation and compare prices.

03/31/2022

Para todas tus necesidades en seguro.

03/22/2022

03/22/2022

03/11/2022

FACT!!!

Fact: Driving a car with Suspension of Coverage (OPCF16) in place can get your policy cancelled.

Signing an OPCF16 (Suspension of Coverage) means that you will not be using your car during a specific period.

With OPCF16, you get some protection so long as you follow the rules specified, one of which is not driving your car.

If you drive your car while OPCF16 is in place and get into an accident, even if you intend to pay for damages yourself, your insurer can find out and cancel your policy.

A cancelled policy may create an increase in your premium once you try to obtain insurance again.

So if you tell your insurer that you aren’t driving, it’s simple—you can’t drive!

Be sure to follow the rules that you agreed to when signing your OPCF16.

If you would like to learn more about OPCF16 endorsement, call us anytime and one of our Licensed Brokers can help you better understand.

02/24/2022

Los Top 10 ciudades mas caras de Ontario

Here are 2021's top 10 most expensive cities for car insurance.

According to RatesDotCa, the average rates in Ontario have dropped by 3.8% because we have had less cars on the road (and less claims).

Note that these rates are the city averages.

02/11/2022

Fact: You will be considered "at-fault" if you lose control of your vehicle on icy roads.

Have you ever driven on an icy road and gotten into an accident? Driving on icy roads can be very dangerous. You could be driving carefully but still end up losing control of your vehicle. Since police officers may be lenient with you if you get into an accident in inclement weather, you may think that insurers would be the same.

However, it is the driver’s responsibility to practice cautious driving in the winter. Insurance companies will treat an at-fault weather-related accident similarly to any other at-fault accident. This applies whether you hit an object or another vehicle.

This is why it is extremely important to practice cautious driving in the winter. So be sure to slow down, beware of black ice, and get those winter tires on!

In case of severe icy roads, it’s best to stay off the road altogether to keep yourself, your vehicle, and other people on the road safe from harm.

01/18/2022

12/17/2021

Fact: Your insurance will seriously be affected by a cell phone ticket!

Not only will using your cell phone while driving negatively affect your insurance, but you will also receive a fine of $615 to $1,000, 3 demerit points, and a 3-day suspension on your licence.

Cell phone tickets are considered as Major Convictions, which will automatically implement a non-renewal and/or cancellation on your auto insurance policy. This will guarantee to increase your insurance rates and it could also categorize you as a high-risk driver, which will significantly raise your rates even more. A Major Conviction will stay on your record for 3 years before it stops affecting your insurance. Insurance companies see using a cell phone as a major risk for increased car accidents, which is why they have these measures in place.

Using a cell phone while driving is dangerous not only for yourself, but for others as well. Please keep this in mind, so you and everyone else can stay safe on the roads!

11/26/2021

Auto insurance rates in Ontario typically costs less with maturity. Insurers consider other factors that can determine the level of risk they are taking on. A few of these are your driving record, where you live, the model of your car. This estimate by ratehub.ca is based on a specific situation but gives us an idea of how age impacts our rates.

10/07/2021

Driving Tips!!

09/03/2021

Fact: Claims stay on your insurance record forever!

While you don't get penalized forever, the systems that insurance companies and brokers have access to will display auto insurance claims back to the early 90s. This is also true for home insurance claims. Typically, an at-fault claim increases your insurance rates for 6 years. After 6 years, you are no longer paying a surcharge for those accidents, but they remain in between you and 'consistent clean driving' discounts.

Some companies reward consumers when they reach new milestones of consistent, accident-free driving, at 9 years, 15 years, and at 20 years. With home insurance, you will qualify again for claims-free discounts after 3 years, and those discounts continue to increase every year which you have property insurance without a claim!

As you can see, submitting a claim will have long-term consequences. It's important to communicate with your broker before making a claim to decide if it's the right move!

06/02/2021

Did you know that Commercial Property Insurance not only protects your building but also your inventory, equipment, and renovations? It protects you from theft, fire, vandalism and more! If you want to learn more, contact us anytime and one of our licensed brokers would be happy to give you more information.

05/19/2021

04/08/2021

Did you know that business insurance is customizable according to your specific business' needs? If you want to know your options for coverage, here are a few of them and how they can help you. You can also speak with your PrimeService broker to ask about the different coverages and how they can benefit your business.

02/13/2021

Fact: Your Home Insurance policy limit is based on the rebuild cost, not the resale market value

The market value of a house is the price of your house today if you were to sell it. Insurable value, on the other hand, is the cost to rebuild or replace your home.

The reason why a home insurance policy limit is based on the rebuild cost is because the value of the land cannot be insured, or replaced. The insurance company can commit to rebuilding your home, but they have no control over the real estate value of your land. Real estate prices are extremely volatile and they don’t impact the costs for replacing or rebuilding your home.

02/11/2021

Lexus, Honda CRV & Toyota Highlander!!

In 2020, these cars were stolen most often in Ontario! Only three car brands top the list. Find out why and learn how to protect your vehicle.

01/29/2021

Fact: An MVR or Motor Vehicle Record is the documentation of a person’s driving history.

An MVR is the report that your insurance provider pulls to review information about your traffic violations, suspensions, license status, and the number of points on your driver’s license in the last 3 years. It is very important to try to keep a clean driving record so as not to affect your insurance premium.

01/22/2021

Fact: Your car’s safety rating impacts your insurance premium

As we’ve mentioned in many of our Fact Friday posts and blogs, insurance companies determine your premium based on several factors such as your driving record, age, gender, location, and car model. Insurers calculate the cost of repair/replacement, the likelihood of your car getting damaged in an accident, and the drivers getting injured.

The safety of the car has a larger impact on your insurance costs than the cost of the car! This is why sometimes newer or more expensive vehicles are cheaper to insure. If you’re shopping around for a car, make sure to consider a car’s safety rating or features to take advantage of lower premiums and a safer driving experience.

If you need professional insurance advice, don’t hesitate to contact one of our licensed brokers.