Classic Car Insurance

You will need classic car insurance when looking at getting a classic car from Kijiji or another classic car trader in Canada. When you find the “one” call Merit Insurance to find the best-suited policy options for your antique auto.

Classic car collecting is not just about how many cars you have or which cars you have, it is about the connection you have with each vehicle. To make sure your classic is properly protected, contact Merit Insurance Brokers to learn more about a Hagerty policy.

Types of Classic Car coverage is for:

Each Policy Includes:*

Guaranteed Value Plus™ / Agreed Value coverage (separate appraisal not required in most cases)
Broad deductible options
Coverage for flexible use – over and above parades and classic car events, you can take your vehicle for an occasional pleasure drive knowing you’re protected anytime across Canada and the U.S.
Expert claims handling, including your repair shop of choice
Coverage for car covers, spare/replacement parts, newly-acquired vehicles

Benefits

Guaranteed value™ coverage

Hagerty understands the value of collector cars. In the unfortunate event of a total write off, you will receive the guaranteed value of the vehicle- no depreciation, no strings attached, no hassle!

Hit The Open Road

With Hagerty’s no fixed mileage restrictions, you can take long weekend drives to wine country in Niagara, or a trip up through northern Ontario, or local car shows, with peace of mind.

Roadside Assistance

Hagerty Drivers Club is designed specifically for collector cars. It is a comprehensive 24/7 full-service roadside assistance program for lockouts, battery jumps, tire changes, emergency fuel delivery, and more.

Specialized Claims Team

The needs of a classic car differ from a standard vehicle. The experienced adjusters at Hagerty are trained in collector vehicle repairs and understand the best materials, people, and actions required for a claim.

Save Money

Each policy is tailored based on your vehicle’s needs. Hagerty’s specialization in collector car insurance and policy customization results in policies up to 41% lower than standard car policies.

Unparalleled Service and Knowledge

Hagerty knows collectible cars, you deal with a team that understands your car needs at a reasonable price.

We have partnered with a market leader in Classic Cars insurance, Hagerty, to protect your pride and joy. This specialized classic car insurance from Hagerty Insurance is crafted for car enthusiasts just like you.

Classic Car Insurance | Merit Insurance Brokers Inc.

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FREQUENTLY ASKED QUESTIONS

What is Comprehensive Coverage?

“Comprehensive coverage only” for auto insurance provides protection against non-collision-related damages to your vehicle, such as theft, vandalism, fire, natural disasters, and animal collisions.

Does my car insurance cover other drivers?

Your car insurance will cover other drivers provided you have given them permission to drive your vehicle, they are not excluded as a driver on the policy and they have a valid driver’s licence. When you lend your vehicle, you lend your insurance. Any accidents will be on your driving record.

Can I get car insurance if I don’t own a car?

If you have a long-term lease, over 30 days, you can purchase insurance for the vehicle. If you do not own or lease a vehicle you cannot purchase car insurance, but you can purchase a Driver’s Policy. A Driver’s policy covers non-owned autos. If you regularly rent or borrow a vehicle or even use car sharing (such as Zipcar), a Driver’s policy may be right for you. It is illegal to drive without a valid automobile insurance policy, so if you are borrowing a friend’s car to run errands or rent cars for your yearly ‘staycation’, it is important that you are carrying an insurance policy with liability coverage. To protect yourself in case of an at-fault accident, having a Driver’s policy in Ontario can prevent you from paying out of pocket for possible injuries or property damage. Your friend’s insurance policy will cover you while you’re operating their vehicle. However, a Driver’s policy will cover any damages that exceed what their insurance policy covers if you get into an accident with their car.

Do I need different insurance for other types of vehicles?

The Ontario Automobile policy is a Standard Policy which provides the same coverage whether you are insuring an automobile, a motorcycle or an ATV or snowmobile. All policies have Standard Accident Benefits limits with Optional Increase Benefits available, you should reviewed you Accident Benefits limits with your broker annually so that any life changes can be considered when determining the appropriate coverage for you on your automobile insurance policy.

Does car insurance cover rental cars?

The Standard Auto Policy offers coverage for rental vehicles in the event of not-at-fault losses and after 72 hours of total theft of vehicle. For at fault, hit and run, or vehicle vandalized rental coverage is not included and must be purchased separately. When purchasing separate coverage, a limit should be chosen that would put you back in the same type of vehicle you currently drive. Discuss your options with your Merit Broker.

Does my vehicle affect my car insurance rates?

Insurance companies use a many variables to determine the premium. The vehicle you are driving is used as one of these variables. They also look at year and model as well as the length of time you own the vehicle. Colour is not a rating variable.

What car insurance discounts are available?

There are many discounts that are available. The most common are Multi-vehicle discount, Conviction Free Discount, Home & Auto Discount, Snow Tire Discount.

What does car insurance cover?

In Ontario, car insurance is mandatory and typically covers third-party liability, accident benefits, uninsured automobile coverage, and direct compensation-property damage. Third-party liability covers damages you are legally responsible for causing to others, while accident benefits cover medical expenses and lost income resulting from a car accident. Uninsured automobile coverage provides protection if you are in an accident with an uninsured driver, and direct compensation-property damage covers damages to your vehicle caused by someone else. Optional coverages such as collision and comprehensive may also be available.

How much car insurance do I need?

Depending on the age and/or value of your vehicle you may wish to purchase full coverage or just basic coverage. (refer to above question on the basic coverage).

What does car insurance not cover?

Ontario Automobile policy covers you and other insured persons for incidents occurring in Canada, the United States of America and any other jurisdiction designated in the Statutory Accident Benefits Schedule, and on a vessel travelling between ports of those countries. All of the dollar limits described in the policy are in Canadian Funds.

What if I have a DUI can I get insurance?

Yes, you can still get car insurance in Ontario if you have a DUI conviction provided you have a valid licence, no coverage if licence is suspended. However, your premiums will likely be significantly higher than they would be if you had a clean driving record. In Ontario, a DUI conviction stays on your driving record for at least 3 years. Our Merit brokers have the ability to shop around and compare quotes from different insurance providers to find the best coverage and rates for your situation.

Is the value of my car affected if someone hits it?

Yes, the value of your car can be affected if someone hits it. Even if the damage is repaired, the car may still have a history of being in an accident, which can lower its resale value. The extent of the damage and how well it was repaired will also affect the value. It is important to keep proper documentation of any repairs made to the car and to disclose any accident history to potential buyers when selling the car.

Do I have coverage if drive out of province?

In the event that vehicle is damaged and in for repairs, if vehicle replacement coverage has been purchased, it covers the cost of the rental vehicle. This endorsement is available with different limits. You are entitled to rent a vehicle with similar features should your vehicle be in for repairs. The time to have vehicles repaired has increased and is now taking much longer than in the past due to shortage of parts or labour. If your replacement vehicle limit is to low, you may be on the hook for the added cost to continue renting a vehicle while you wait for repairs. We recommend increasing the basic replacement cost limit to a higher limit so you are not out of pocket if your vehicle takes longer than expected to be repaired. Cost to increase this limit is minimal and you should speak with your broker.

Can a listed driver drive other vehicles on the policy other than the one assigned?

Any listed driver on a policy can drive any other vehicle on the policy unless they have been specifically excluded from a vehicle.

How much is cancellation penalty fee?

If you cancel your policy prior to the expiry date, a cancellation fee is applied to the unearned premium. This fee moves on a sliding scale based on the number of days the policy term has been active. Rule of thumb, cancellation fee usually works out to be approximately the equivalent to one month’s premium.

What impact does a using hand held device conviction do to my rates?

Convictions for using hand held device is now considered a Serious Conviction and will result in a Surcharge on your insurance premium. It is treated similar to an Impaired Driving conviction.

What is a deductible?

A deductible is the amount of money an insurance policyholder must pay out-of-pocket before their insurance coverage begins to pay for a covered loss. For example, if an insurance policy has a $500 deductible and a claim is made for $5,000, the policyholder must pay $500 first, and then the insurance company will pay the remaining $4,500. Higher deductibles usually result in lower insurance premiums, as the policyholder is assuming more of the risk.

What does no fault mean for car insurance?

“No-fault” insurance in Ontario means that regardless of who is at fault in a car accident, each person’s own insurance company pays for their own damages and injuries, up to their policy limits. This system was put in place to reduce the time and cost associated with determining fault in accidents, and to ensure that injured parties receive compensation quickly. However, it’s important to note that in cases where serious injury or death occur, fault may still be determined and legal action may be taken.

Does my car insurance cover other peoples cars?

No your car insurance does not cover other peoples’ cars. As per above explanation of “no-fault”, each driver would go to their own insurance company for the damages to their vehicle.

Does car insurance cover a collision with an animal?

Car insurance in Ontario typically covers collisions with animals as part of the comprehensive coverage. However, it’s important to check your specific insurance policy to confirm what is covered and what the deductible amount is. Some policies may also have specific exclusions or limitations related to animal collisions, so it’s important to review your policy and ask your insurance provider any questions you may have.

Can I let other people drive my car?

As long as they have your permission and a valid license they are covered. When you lend your vehicle you lend your insurance. Note: if they have an accident with your car, that accident becomes yours. All regular or frequent drivers and all other licensed drivers in the household should be listed on the policy as a driver.

Can a listed driver drive any vehicle on the policy?

With the owner’s permission, all licensed drivers can drive any vehicles listed on the policy.

What does Endorsement OPCF 27 coverage?

This endorsement covers Legal Liability for Non-owned Automobiles. If you carry physical damage coverage on your vehicle and you rent a vehicle, this coverage extends coverage to rental or non-own vehicles for you, your spouse, and all listed drivers.

Why do we need to increase our Accident Benefits limits?

Bodily injuries resulting from accidents can take a long time and expensive to recover. Automobile policy has minimal Medical Rehabilitation and Attendant Care coverage. Increased limits are available. Optional Accident Benefits coverage increases the Standard Limits.

What is Caregiver, Housekeeping and Home Maintenance coverage?

In the event of an accident, if you are unable to take care of the daily household duties, this coverage will hire someone to take care of these duties. Currently, this coverage is only available if you are classified as catastrophically impaired after a motor vehicle accident, but if you have minor injuries, but severe enough that you cannot complete your daily household chores, then purchasing All Impairments will reimburse someone hired to complete these chores. This increased coverage is highly recommended for anyone who lives on their own.

I have my own group health insurance, why do I need the Accident benefits coverage on my car insurance?

This coverage is mandatory in the province of Ontario. You do not need to apply for the Optional Coverages if you have your own Group Health Insurance. However, we recommend you check your own Group Health Plan to make sure it will cover you for expenses due to injury from a car accident and includes all family members living in your household and insured under this policy.

My Child obtained their G1. Can I add them to my policy?

Most insurance companies will not show a driver with the G1 only. They are included under the insurance policy when they are driving with you. If an accident occurs, your policy will respond like it was you driving. Once they obtain their G2 they need to be added to the policy as a driver and start their own driving record. Discounts are offered for new drivers who complete an Approved Driving Course.

How to add a new driver, what documents are required?

Copy of driver license/Driver license history abstract if newly licensed. Driving experience history if the information is available. All regular or frequent drivers of the vehicle and all licensed drivers in the household are to be shown on the policy.

If someone hits my car, do I contact their insurance company?

No – regardless of fault, you will put a claim in through your own insurance company. Depending on what % you are at fault, is the % of your deductible that you pay. IE if you are 0% at fault and the third party has insurance, you will pay 0% of your deductible.

How long do tickets and accidents count for?

Tickets – Motor Vehicle Tickets stay on your record for 3 years from the date you Pay it. When a driver’s license has been suspended for 12 months or more due to convictions or an accumulation of demerit points within the last 3 years, the driving record will revert to zero when the license is reinstated and you have to regain your driving record over the years.

Accidents – Most companies will rate an at-fault accident for 6 years, however, some will count them up to 9 years.

Business use of a vehicle – are deliveries allowed under a private passenger auto policy? Or decals and branding?

No, it needs to be rated as a commercial auto. The allowable Business Use under a Personal auto is meant more for going to/from client meetings, for example, salesperson, realtor, accountant, etc. If you are carrying or delivering product and materials vehicle needs to be rated for Commercial Use. It is important to disclose the proper use of the vehicle to obtain the correct rating. Failure to disclose the proper use of the vehicle may result in denial of coverage and cancellation of the policy.

What If I do Uber, Uber Eats or Skip the Dishes?

Your policy must be amended to show that vehicle is being used for business or commercial use. You can be denied coverage and policy canceled if vehicle’s proper use is not disclosed to the insurance company.