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Automobile Insurance

Automobile Insurance. Grade 11 Workplace. Agenda. Insurance Rates and Coverage Factors that Lower & Raise Premiums Occasional & Principal Driver Types of Coverage Collision Coverage & Comprehensive Coverage Deductible Amounts. What factors might affect vehicle Insurance Rates?.

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Automobile Insurance

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  1. Automobile Insurance Grade 11 Workplace

  2. Agenda • Insurance Rates and Coverage • Factors that Lower & Raise Premiums • Occasional & Principal Driver • Types of Coverage • Collision Coverage & Comprehensive Coverage • Deductible Amounts

  3. What factors might affect vehicle Insurance Rates? • Read the article from the Toronto Star. What factors affect Insurance Rates? • What factors can't affect Insurance Rates? • Do you agree with the factors that can or can't affect insurance rates? Why?

  4. Occasional Vs. Principal • What is the difference between an occasional driver and a principal driver?

  5. Types of Coverage • Third-Party Liability- Covers you for claims made by other drivers. • Statutory Accident Benefits- Certain benefits that are paid out no matter who was at fault.

  6. Types of Coverage • Direct Compensation-Property Damage- Person collects from their own insurance company, no matter who was at fault. • Uninsured Automobile- Designed to cover against drivers that are not covered or do not have enough coverage. • Fill in Chart on Pg 200!

  7. Collision Coverage • Pays for the replacement, repair of car no matter who caused the accident. • Has a deductible amount that needs to be paid. • What is a deductible?

  8. Comprehensive Coverage • Pays for the replacement, repair of car not resulting from accident. • Has a deductible amount that needs to be paid by the policy holder.

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