Planning on buying a car? Consider Your Insurance.

With warmer weather in the air (or at least the promise of it), the roads are beckoning.  It’s also the time of year that many of us consider purchasing a new vehicle.  When purchasing a new (or new-to-you) vehicle, here are some insurance considerations.   

Factors that may affect your insurance premium:
•    The make and model of your vehicle.  Generally, the more expensive the vehicle, the more insurance you’ll pay, but the cost of the vehicle isn’t always the only factor.  Some people might be surprised to hear that a Honda Civic has higher insurance rates than a Toyota Corolla.  Interestingly enough, Civic models are one of the most stolen cars in Ontario, driving up insurance rates for that type of vehicle. 
•    Where you live and drive your car, because more accidents happen in large metropolitan areas than in smaller towns.
•    Your age, marital situation, and in some situations, your gender.
•    Your driving record.
•    Your insurance claim record (including any speeding tickets that you would have received).  As a general rule, insurance companies consider claims experience in the last six years.
•    Your level of driving experience.
•    Whether you drive your vehicle for pleasure, commuting or everyday business (more driving time means more potential for accidents).
•    The insurance coverage and deductible you select. 

Factors that will not affect your insurance premium:
•    The colour of your new vehicle (many believe that a ‘red’ car will mean higher premiums, but that is not the case).
•    Previous parking tickets.
•    Your overall health.

Want to Know More?

Contact Cornerstone Insurance Brokers Inc., the endorsed administrator for the ACTA Protect Insurance Program, at 1-888-286-2282,, and