Getting your driver’s license is like getting the keys to freedom, but make sure you lock it down with the right insurance before you or your loved ones hit the open road!

According to the Canadian Transportation Safety Board, there are 160,000 accidents each year. 

Yike’s – that’s a big number

Driving for the first time can be both exhilarating and overwhelming, especially when it comes to purchasing car insurance. 

With so many options and unfamiliar terms, it can be difficult to know where to start. That’s why we’re here to help with this comprehensive guide to car insurance for first time drivers.

Understanding the Types of Coverage Available

In Ontario, Canada, there are several types of car insurance coverage that are required by law, including:

Third-Party Liability Coverage

This coverage protects you in the event that you are found at fault in an accident and are sued by another driver for damages or injuries.

Accident Benefits Coverage

This coverage provides financial support if you or your passengers are injured in an accident, regardless of who was at fault.

Direct Compensation – Property Damage (DCPD) Coverage

This coverage protects you if you’re in an accident and the other driver is at fault, but doesn’t have insurance or enough insurance to cover the damages to your vehicle.

Aside from these mandatory coverages, there are also several optional coverages to consider, such as:

Collision Coverage

This coverage pays for damages to your vehicle if you’re in an accident, regardless of who was at fault.

Comprehensive Coverage

This coverage pays for damages to your vehicle that are caused by something other than a collision, such as theft, fire, or weather-related events.

Uninsured Automobile Coverage

This coverage protects you if you’re in an accident with a driver who doesn’t have insurance or enough insurance to cover the damages to your vehicle.

Finding the Best Car Insurance for Your Needs

Now that you have a better understanding of the different types of coverage available, it’s time to start shopping for a policy. Here are some tips to help you find the best car insurance for your needs:

Shop Around

Don’t settle for the first insurance company that you come across. Get quotes from several different companies to compare coverage and prices.

Ask for Discounts

Many insurance companies offer discounts for things such as being a good driver, having successfully completed driver training from an approved driver training school, or having multiple cars on the same policy. Be sure to ask about any discounts that you may be eligible for.

Consider Your Deductible

Your deductible is the amount that you’ll have to pay out of pocket before your insurance coverage kicks in. Choosing a higher deductible can lower your monthly premiums, but make sure that you have enough money saved up to cover the deductible if you’re in an accident.

Read the Fine Print

Before you sign up for a policy, be sure to read the policy details and understand exactly what is and isn’t covered.

It’s important to keep in mind that as a first-time driver, you may be seen as a higher risk to insurance companies, which could result in higher premiums. However, you can help lower your rates over time by maintaining a clean driving record and practicing safe driving habits.

Working with Colley Insurance for Your Car Insurance Needs

At Colley Insurance, we understand that purchasing car insurance as a first-time driver can be overwhelming. 

That’s why our knowledgeable insurance brokers are here to help. 

We’ll work with you to understand your needs and find the best coverage for your budget.

We’ll take the time to explain all of your options, so you can make informed decisions and feel confident in your coverage.

So if you live in the Guelph area and are looking around for a reliable insurance brokerage to guide you through the process, we can be reached 519 824-4040 between Monday to Friday from 8:30am to 5:00pm.