Different Types Of Car Insurance In Barrie
There are many types of car insurance that a person can opt for but to make a choice, a person should actually be aware of the different options that they have. In this article, we have listed some information about Barrie Car Insurance so that you are able to make the right choice while choosing the insurance.
Compulsory Insurance Covers –
There are certain things that should be covered in a car insurance if you want to drive in Barrie. Let us have a look at some of those compulsory things.
- Liability – As per the law, it is mandatory for each vehicle to have an insurance of 200 thousand dollars as a 3rd party coverage. This basically protects the insured person if he ends up damaging someone’s property.
- Compensation for Property Damage – This component of insurance is t is included in most of the insurance. The main reason for including this component is that it compensates you for the damage to your car during the accident.
- Uninsured Driver Protection – This component of the insurance protects the driver in case of an injury caused by an uninsured driver. This also mitigates the risk of hit and run case.
- Accidental Protections – This component provides coverage to you by paying your medical bills and income replacement when you are involved in an auto accident
Optional Insurance Covers –
As per the law, it is an option to include certain coverage and those are mentioned below. If you decide to add any such cover than the cost of insurance would also go high.
- Comprehensive Cover – This offer protection against natural disaster and other damages like theft which are not caused by accident. If you live in an area which is prone to natural disaster then you should opt for this type of cover.
- Transportation Replacement Cover – This component reimburses you for the expenses that you incur in transportation when your car is in the garage for repair.
- Depreciation Cover – This component protects your car from the depreciation and you can buy a new one in case of a theft or an accident when your car is beyond repair.
- Collision Cover – This component would pay for the damages when your car collides with a tree, building or another car. It is a must have add on if you drive an expensive car.
These were some of the optional and compulsory covers which are a part of insurance policies bought in Barrie