As of Jan. 1, 2016, all insurance providers operating in Ontario are required to provide discounts—typically 2 to 5 per cent—to policyholders who purchase and install winter tires. These discounts, which were mandated by the Ministry of Finance and the Government of Ontario, were put into force to not only reduce insurance rates, but also to improve overall roadway safety.
Any drivers that are seeking a new policy or whose policy is up for renewal should speak to an insurance broker to determine the rates and coverage that fits their needs. Discounts and requirements tend to vary by provider, making it all the more important for drivers to connect with an expert.
Vehicles equipped with winter tires have been shown to decrease the stopping distance of a car by 30 to 40 per cent.
In most cases, it is likely you will need to prove to your insurer that you have installed winter tires. This is generally done by providing pictures, receipts or documentation that confirms a verbal endorsement. Winter tires are designed to enhance safety and reduce the likelihood of collisions in frost, snow, slush, and under cold and icy conditions. When purchasing and installing winter tires, it’s important to do the following:
- Purchase tires that feature a logo of a peaked mountain and a
snowflake. This indicates that the tires are rated for wintery conditions.
- Install winter tires in sets of four.
- Avoid mixing tires that feature different tread patterns.
- Check your tire pressure monthly and change tires that are worn.
Winter tires are critical to road safety in hazardous conditions. In fact, when compared to all-season tires, vehicles equipped with winter tires have been shown to decrease the stopping distance of a car by 30 to 40 per cent. The policy discount is meant to encourage drivers to take full advantage of the safety benefits winter tires have to offer. Winter tires are typically needed between the months of November to April to qualify for the discount, please check with your broker for full details.
To ensure you are getting the most out of your policy, contact an expert at Jones & Associates Insurance today at 807-343-9444.