Whether you have just purchased a new car or are simply switching insurance companies, purchasing auto insurance requires that you have a variety of documents on hand. To ensure you get through the application process easily and efficiently, we have put together a simple checklist of what you need, so you are well prepared.
The items you may need are as follows:
Ownership for each vehicle being insured
This document provides the vehicle identification numbers and identifies who the registered owner of the vehicle. It will also include the license plate number.
Details of lease/leinholder
If you are leasing or financing, you will need the name and address of who is providing the lease or loan. Their name and address will be listed on the policy.
Copy of the bill of sale or lease agreement for each vehicle
If you are purchasing or leasing a new vehicle, you will need this in order to verify the date of purchase.
Full name and driver's license number of each driver in the household
Each person that has a driver's license in the household must be listed on the vehicle insurance policy.
Drivers training certificate
If you have recently completed an accredited drivers training course, it is a good idea to bring your certificate with you as some insurance companies will offer you a discount off your premium.
Details of your current insurance company
If you are changing insurance companies you will need the name, policy number and expiry date of your previous policy.
Details of any claims within the past 10 years
As part of the application process you will be asked questions about your claims history. For example, what type of claims you've made in the past? How much was paid on the claim? What was the date of the claim?
A driver's record for each driver may be requested
Your insurance professional may ask for a driver's record. To obtain one you can visit the Ministry of Transportation of your province. There may be a fee associated with this.
A voided cheque
If you are paying via monthly installments you will be asked to provide a void cheque.
Down payment by way of cash, cheque or credit card
You will likely be asked to place a down payment on your auto insurance policy if you are going to be paying monthly.
But before you apply for a car insurance policy, make sure you have shopped around for the best rates. Premiums can vary significantly from one insurance company to another for the exact same car and driver and no one insurance broker or agent can shop the entire market. Comparison sites like InsuranceHotline.com can help by checking the rates of over 30 insurance companies and connecting you with its network of licensed insurance professionals. It's fast, free and it may save you money.