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From the desk of Burke Neale
Whether you have been driving for years or are hitting the road for the first time, knowing the inner workings of car insurance can help save you hundreds of dollars.
Many companies are now building accident forgiveness into their policy while other companies charge extra for it. Before you buy, ask your broker for details.
The worst time to find out you chose the wrong insurance company is when you have a claim. With an insurance broker, your interests come first. It is the nature of an insurance broker to act as the client's advocate.
The same cannot be said of direct insurance writers and banks; their first interest is themselves, so filing a claim can be onerous, time consuming and fruitless.
Recently, some well-established local insurance brokers have sold controlling interest of their brokerages to insurance companies. We don't need to tell you where their interests will be in event of a claim.
The “best price” of an insurance broker depends on how many insurance companies they represent. Many brokers only have three or four companies to choose from. McFarlan Rowlands can choose a policy from among the 15 personal automobile insurance companies that we represent.
If you're buying a car, call us before you do. Insurance companies use a complicated risk formula to determine the cost of insuring a vehicle. If you have a few cars in mind, we can tell you which will be the cheapest to insure.
Avoid paying in installments if possible. Companies charge a fee for the privilege. Like any line of credit, the faster you pay it off, the less your total cost.
Unless you explicitly exclude teenage drivers from your policy, you are required to inform your broker as soon as your teenager is licensed. If you do not, and you make a claim, the insurance company can charge you back to the date that your teenager was licensed.
McFarlan Rowlands Insurance Brokers have been representing clients in Ontario since 1896. With 14 offices across Southwestern Ontario and an established presence in commercial and personal insurance, McFarlan Rowlands offers the experience, knowledge and stability to ensure your peace of mind. Call us today at 888-734-8888 or visit us on-line at www.mcfarlanrowlands.com.