Car Insurance In Markham

The city of Markham lies approximately 30 km northeast of downtown Toronto in the Greater Toronto Area (GTA). Located in the Regional Municipality of York, it’s bordered by five municipalities, including Vaughan and Richmond Hill, and is home to the Canadian headquarters of IBM, Honda, Hyundai, Johnson & Johnson, Motorola, and more.

A compilation of many smaller historical communities, modern-day Markham is known for its historical attractions, such as Thornhill Village, the Markham Museum, and Unionville Station. In addition, Chinese heritage and culture are prevalent in Markham, and the city has a vibrant and popular Chinatown.

Looking for arts and culture in Markham? Take in a performance by the Unionville Theatre Company or enjoy an afternoon at the Varley Art Gallery. If active recreation is what you’re after, explore the more than 22 km of bike trails and pathways that wind their way through the city’s parks and ravines.

If you call Markham home, you know that commuting is a way of life here. In addition, a vehicle affords you the freedom and flexibility to head into Toronto for an evening event or escape into the peace and quiet of rural Ontario as you wish. But what about insuring your Markham vehicle?

At Westland Insurance, we know that researching car insurance and getting multiple quotes can feel like a big job. And that’s why our knowledgeable and professional team is ready to ease the way. Whether you contact us by email, phone, or in person at our Markham location (600 Alden Rd. Suite #306), we’ll listen to your questions, educate you about your options, and provide you with a timely quote.

Below, we’ve put together an overview of car insurance in Markham, Ontario as well as the answers to some commonly asked questions. For more information, contact us directly and we’ll be happy to assist you.

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How Car Insurance in Markham Works

Like everywhere else in the province of Ontario, auto insurance is mandated in the city of Markham. Every vehicle that’s registered must have up-to-date insurance coverage. It’s not legal to drive a vehicle without it.

Whereas compulsory car insurance is provided through a provincial provider in provinces like British Columbia and Manitoba, Ontario is one of the provinces with a private auto insurance system. Although the Financial Services Regulatory Authority (FSRAO) oversees and regulates auto insurance in Ontario, policies and their costs can vary substantially. For this reason, it’s worthwhile to invest some time and energy into comparing auto insurance quotes and exploring your options in Markham. The savings could be substantial.

In Ontario, you’ll submit claims and work solely with your own insurance provider no matter who is at fault in a collision. This is known as a no-fault insurance model.

Four types of coverage must be included in every auto insurance policy in the province of Ontario. These include:

  • Third-Party Liability
    • If you’re driving and injure another person or damage their property, third-party liability covers repairs, medical expenses, legal fees, and more. $200,000 is the minimum amount of coverage required, but most Markham drivers opt for between $1 million and $2 million.
  • Accident Benefits
    • If you or your passengers are hurt in a crash, accident benefits cover your medical expenses and lost wages, whether you were at fault or not.
  • Uninsured Automobile Insurance
    • While it’s illegal to drive uninsured, this type of coverage protects you in the event that you’re in a collision with someone who is underinsured or breaking the law altogether. It also covers medical costs and vehicle repair costs associated with hit-and-run accidents.
  • Direct Compensation Property Damage (DCPD)
    • If you’re not at fault for an accident, DCPD will cover the cost of repairs to your vehicle.

If you’re looking for additional coverage for your vehicle, you have many options. Some of the most popular include:

  • Collision Coverage
    • This type of insurance ensures that damages to your vehicle or property are covered, no matter who is at fault.
  • Specified Perils Coverage
    • Specified perils coverage covers damage according to a list of perils that can include anything from fire to theft or weather damage.
  • Comprehensive Auto Insurance
    • Comprehensive auto insurance protects you in the event that your vehicle is damaged in a non-collision related event such as being hit by a falling object or getting vandalised or stolen.
  • All Perils
    • Unless specifically listed as an exclusion, all perils are covered with this type of coverage.

Car Insurance FAQ

Because your insurance premium is based on a range of factors (see below), costs will vary from person to person and vehicle to vehicle. That being said, the average cost of Markham auto insurance is over $2,100, as compared to the Ontario provincial average of just over $1,500. Comparing quotes from a variety of different insurance companies can help you find the most affordable car insurance in Markham.

Markham auto insurance rates are among the highest in Ontario. Vaughan and Ajax’s averages are slightly higher, but residents of many locations in the province pay dramatically less for their car insurance. In places like Kingston and Elizabethtown, average rates are as low as roughly $1,100 annually.

Finding cheap car insurance in Markham isn’t about going to one particular broker. Rather, it’s about finding the most affordable policy that will suit your specific needs. And, in order to do that, it’s important to do your research and compare quotes from multiple insurance providers. Westland Insurance can help.

In Markham, there are many factors that can influence the premium you’ll pay for your car insurance. These include:

  • Driver Demographics – How old are you? What is your gender? And do you have a clean driving record? The answers to these questions will help to determine the rates you’ll pay for your auto insurance.
  • Type of Vehicle – The year, make, and model of your vehicle, along with the amount you drive it and the purpose you drive it for will factor into your insurance premium. But there’s more. Insurance companies also consider the cost of repairs, safety ratings, and theft ratings of the vehicles they insure.
  • Type of Coverage – A basic insurance package will cost you less out-of-pocket than a plan with enhanced coverage. That being said, the savings you reap from increasing your deductible or opting for less comprehensive coverage may result in higher costs later on if you are in a collision or sustain damage to your vehicle.

Insurance rates for students tend to be higher than for more experienced drivers with good records. This is because students have limited experience on the road and insurance companies therefore view them as potentially higher risk. While gaining experience, students can save money on their premiums by getting added to a parent’s pre-existing policy. They can also look into taking additional driver’s education courses.

As with any population, insurance rates for newcomers will vary. That being said, if you’re a newcomer to Markham and can provide a driving record from your past insurance company, it can help to lower your premiums (assuming you have a decent record).

In Ontario, high-risk drivers are defined as drivers who’ve had many at-fault accidents and convictions or have not paid their insurance premiums. They’re subject to higher insurance rates than other drivers. While the cost of insurance for high-risk drivers varies from case to case, we recommend seeking out the most affordable quotes from an agency that deals specifically with high-risk driving solutions.

Here are a few of the most common ways you can actively work to reduce your Markham car insurance premium:

  • When you purchase a new vehicle, take its safety and theft ratings into consideration.
  • Keep your insurance policy up-to-date and make payments on time.
  • Drive safely. A clean driving record is one of the biggest factors that can help you decrease the cost of car insurance.
  • Ask your broker if you can save by bundling your auto insurance with other types of insurance.

Are you seeking affordable car insurance in Markham, Ontario? Westland Insurance’s friendly and professional team is here for you to answer all of your questions and find you the best options and quotes for your specific requirements. We look forward to assisting you. Contact us today to get started!

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