Confidently explore the open road

We consider several factors when determining your premiums, including:

• How many claims you’ve submitted in the past
• Information about you (e.g., how long you’ve been a licensed driver)
• Traffic violations (e.g., speeding tickets)
• The vehicle you drive (e.g., make, model, and year)

A deductible is the amount that you agree to pay (out of pocket) for claims-related expenses before your insurance company pays for the remaining costs.

Let’s say you have an accident and the total approved cost to repair damages is $5,000. If you chose a $500 deductible when you purchased your policy, you would need to pay for the first $500 worth of expenses. Economical would cover the remaining $4,500 in eligible expenses.

TIP: Choosing a higher deductible will lower your insurance premium. Just be prepared to pay for any costs up to that deductible amount when you need to make a claim.

We recommend reviewing your policy at least once a year, but there are certain times when you need to contact your group’s broker to officially update it:

• When your address has changed
• Any time you buy another vehicle
• When there’s an additional licensed driver in your household
• If you’ve changed how you use your vehicle (e.g., for business)

If you’re a driver with Uber in Ontario, Quebec, Alberta, Nova Scotia, New Brunswick, Newfoundland, or Prince Edward Island, please talk with your group’s insurance broker about making sure you have appropriate personal car insurance coverage.