Have your car insurance rates gone up? Are you paying too much? Do you know if you have the right coverage? Welcome to L.D. Dermody Insurance Brokers, we can help! We have the resources to provide one of the most competitive rates in Ontario. L.D. Dermody's experienced brokers will not only get you the best auto insurance premium but they'll review your lifestyle, discuss your needs and make sure that you also get the best policy.
IT'S SO EASY...
The best way to obtain a quote is to speak directly to one of our insurance professionals. They're knowlegeable, friendly and are here to help. They'll guide you through a series of questions making sure that you obtain the car insurance quote that is right for you.
IT'S SO SIMPLE...
Avoid the endless phone menus that most insurance companies force you to endure and request a free quote to see how much we can save you on your car insurance.
However you wish to communicate we’re here to help. Call directly to speak to one of our insurance specialists, schedule an appointment, or simply send us an email. Whatever method you choose you’ll receive the same individualized service and attention to details. We’ll happily review your insurance program making sure that its right for you.
Call 1-877-337-6639 and speak to one of our brokers.
Let’s face it. There are many places where you can purchase your car insurance but will they all provide the advice and coverage that is right for you? Car insurance is so important and yet many people do not take enough time to understand what it is that they are purchasing. The lowest price is not always better. Statistics show that one in three Canadians will be involved in a car accident at some point in their life time. Even more concerning is that car accidents cause an injury every 2 minutes. And every 4 hours a car accident results in a fatality. Do you really want to take a chance with your coverage?
At L.D. Dermody, we make it easier for you to understand your insurance needs and the many options available to you. We look to arrange a policy that provides the right balance between coverage and cost. A policy that has reasonable rating flexibility, should you have a claim, ticket or other factor in the future. One that will respond as you expect.
Car Insurance - Why?
Ontario law requires that all vehicles driven on the road must have automobile insurance. Drivers found driving without insurance can immediately have their licence suspended and vehicle impounded. A conviction of driving a car without insurance could result in a fine that can range from $5,000 to $50,000. More importantly, if you are found to be at fault for an accident causing injury or death to another person, you may be held personally responsible for his/her medical costs and other losses. This could be in the millions of dollars!
"No-Fault" Car Insurance
In Ontario we have what’s called “No-fault” insurance. This means that for the majority of the time your deal directly with your own insurance company, regardless of who is at fault in an accident.. Legal action against the responsible party is not permitted unless a certain “threshold” is exceeded. While this threshold may be monetary, it may also relate to the severity of injuries sustained. For example, seriously injured claimants may sue for pain and suffering provided the monetary threshold has been met, but not for loss of income and other economic losses resulting from the injury. Legal action is also permitted when an injured person dies, or sustains serious disfigurement, and/or impairment of important physical or mental function.
The intent of No-fault is to speed up the claims process because you deal directly with your own insurance company rather then waiting for the companies to decide who is at fault and having to deal with the other persons insurance company.
The percentage of being "at-fault" in an accident is determined by the respective insurance companies who's drivers are involved in the accident . They refer to Ontario's Fault Determination Rules to help make this determination. Assessing fault ensures proper coverages are applied to an accident and makes sure the at-fault drivers premiums are adjusted accordingly.
Mandatory Car Insurance In Ontario
Bodily Injury and Property Damage – Provides coverage to the insured, and any other person who with the insured’s consent personally operates the car or any part of the car, against liability imposed by law upon the insured or such other person for loss or damage arising from the ownership, use or operation of the car resulting in bodily injury or property damage. This coverage is restricted by the limit of liability purchased by the insured.
Direct Compensation/Property Damage – Covers the cost of damage to the car, its equipment, and contents, and the cost of loss of use of the car or contents arising from an accident for which another person would have been legally responsible. For example, if you have an accident that is not your fault, you would claim under direct compensation for property damage to your car.
Accident Benefits – Include medical payments, funeral expenses, disability income benefits, death benefits, and dismemberment benefits. These are available to all insured parties injured in an accident regardless of who is at fault.
Uninsured Automobile – Provides coverage if you or other insured persons have a collision with an uninsured motorist or a hit and run driver. This insurance covers damage to your car and its contents caused by an identified uninsured motorist, subject to a deductible.
The general premise of insurance is that the claims of a few are shared among the many. So the more your insurer pays out in total claims the more that you're going to see your rates increase.
Have you been in an at-fault collision within the past year? A recent at-fault collision could cause your rate to increase. Insurance companies reward drivers with lower rates based on the number of years accident free.
Have you had any tickets within the past year? One single ticket can have an effect on your rate. The more severe the ticket the costlier the consequences. Statistics show that a person with tickets has a higher probability of being in an accident than a person with none.
Cars are becoming more expensive to repair as they become equipped with more advanced collision avoidance systems. It’s also not just a matter of simply taking a dent out of the bumper anymore, but normally the whole bumper usually needs to be replaced. The time taken to do the work translates into higher rental car costs. And if the air bag goes off, look out. Those things are expensive!
Distracted driving accidents have been on the rise and tend to be more severe. Higher frequency and severity translates into higher premiums.