Markham, Ontario Car Insurance: For You & Your Family

The town of Markham is located within the province of Ontario. Markham’s population of over 250,000 makes it the fourth largest community within the Greater Toronto Area. The average household income in Markham is $79,924, and houses are worth $440,755 on average. These figures make Markham one of the most affluent municipalities in all of Canada. Historically, Markham’s economy was an agricultural one, but today Markham considers itself “Canada’s Hi-Tech Capital” due to all the life science and technology companies that choose to base their Canadian headquarters in Markham. These companies include multinational giants such as American Express, Apple, Motorola, IBM and Toshiba.

Auto Insurance in the City of Markham, Ontario

Although Markham is trying to get more people to use public transportation, there are still a fair number of drivers on the road. As per Ontario government policy, auto insurance is mandatory for all drivers. If you are caught driving without insurance, you may be fined anywhere from $5,000 to $50,000. In addition, the government may suspend your driver’s licence and impound your vehicle. The penalties don’t stop there – if, after being convicted of driving without auto insurance, you finally decide to actually get auto insurance, insurance companies may charge you high premiums or refuse to insure you altogether due to your history.

If you get injured in a car accident in an uninsured vehicle, it is entirely possible that you will be denied income replacement and non-earner benefits. Even if you are not at-fault in the accident, you may be denied the right to sue the other driver for compensation. If you are declared at-fault in an accident, you may be found personally liable for medical costs and other expenses of the injured party.

In short, not having auto insurance is a big deal in Ontario. If you have come to that conclusion on your own and are now looking to rectify your auto insurance situation, you have three options when it comes to buying auto insurance. You can buy it from an insurance broker, an insurance agent or a direct writer. An insurance broker can get your auto insurance from any number of companies – they don’t work for one particular company. An insurance agent, on the other hand, works for a specific insurance company. A direct writer is an insurance company that does not use third parties to sell their insurance products – they sell them directly to the consumers. There isn’t really an advantage to buying from one source or another; these are just three different ways of doing business.

No matter whom you choose to go with, remember this: Anyone selling insurance must be licenced to do so in Ontario. Being licenced to sell insurance in another province is meaningless as every province has different rules and regulations; what applies in one province may not apply in another. At the very least, in Ontario you are required to purchase a policy that provides third-party liability coverage, statutory accident benefits coverage, direct compensation – property damage coverage and uninsured automobile coverage. If you choose, you can add additional coverage to your policy and lower your deductibles.

More About the City

Like any other growing town, Markham has various transportation issues to deal with. Markham is currently experiencing major urban growth. Unchecked urban growth tends to lead towards urban sprawl, something the town government finds undesirable due to its encouragement of car dependency and auto-dependent development on rural land. In an effort to check urban sprawl, Markham is trying to increase density within new developments so residents will be closer to their places of employment. If Markham achieves its goal of reducing urban sprawl, it may create a new problem for itself due to congestion of roads. To resolve congestion before it becomes a major issue, Markham has implemented a new transit system called Viva through York Region Transit. Viva is an express bus service with a twist; operators can change the traffic signals in order to reduce delays.