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Comparing Car Insurance Companies: What to Look For in Your Next Provider

Looking for car insurance? The good news is that you have a laundry list of options. That can also be bad news.

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by Team Onlia
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Thoroughly comparing car insurance companies can feel like an impossible task, simply because of how many choices you have.

Thoroughly comparing car insurance companies can feel like an impossible task, simply because of how many choices you have.

You could spend a year weighing the pros and cons of each provider and another six months putting them side by side by side. And you’d have all the time in the world to do both because you wouldn’t be driving, as car insurance is mandatory in Ontario — so choosing car insurance can’t take forever.

Use these quick tips to speed up the process at the outset so you get the right car insurance faster.

Look for ease of use

No one “looks forward” to getting car insurance, so the faster a car insurance provider makes it to get insured, the better it is for you.

The fastest and easiest way to get car insurance today is “Digital Direct,” which means you’re buying your policy online, directly from the insurance provider, rather than through a broker. In fact, with digital direct, you have no reason to call anyone: you can build your policy online, add and subtract coverages and even make a claim all without picking up the phone.

Onlia is a fully digital direct insurance provider.

Look for a menu of discounts

It’s disappointing to be told how many discounts you can apply, only to find out you don’t qualify for any of them. This is common in the car insurance space, so it’s smart to take a quick look at the number of discounts a car insurance provider offers.

For example, Onlia offers 10 different discounts, and the average policy holder will qualify for more than one. This doesn’t even count the discounts and $480/year cashback you could be earning by driving with the Onlia Insurance™ app’s telematics turned on.

Use an aggregator

Using an online aggregator like My Choice Insurance is a great way to compare car insurance quotes. With an aggregator, you can review several quotes from the best car insurance providers in your area in just a few minutes. It does all the heavy lifting — just fill in information about your driving history and car once, and it'll show you your top prices at a number of providers. Then, peruse your options and select the quote that works best for you.

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Look for car insurance/home insurance bundles

Only comparing car insurance providers that also offer home insurance is also a great place to start because you can most likely get cheaper rates on both.

This is the case with Onlia, and the pot is further sweetened with unique coverage options for both. For example, you can get rental car insurance through Onlia that will be cheaper than any insurance you’d get from a rental car company. And you can add home sharing coverage to your home insurance policy if you ever decide to make some money on your home by renting it out.

By bundling your car and home insurance with Onlia, you could save 15% on car and 20% on home coverage.

Look for deductible flexibility

Your deductible is what you pay for damages to your vehicle before your insurance kicks in. So, if you have a $1,000 deductible and you need $10,000 of repairs, your insurance will cover $9,000.

A higher deductible lowers your premiums, which is what you pay every month to have car insurance. Raising your deductible just a few hundred dollars could save you money over the course of a year.

Finally, look for a credible underwriter

You’ll want to know the money will be there when you need it, which means you should be comparing car insurance underwriters. And you can start with Onlia, which is underwritten by Achmea Canada Holding Inc., a wholly owned subsidiary of Achmea B.V., the largest insurance group of the Netherlands; and Fairfax Financial Holdings Limited, a Canadian holding company, which, through its subsidiaries, is primarily engaged in property and casualty insurance and reinsurance and the associated investment management.

Start comparing car insurance companies

Begin by going online with Onlia.

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