One of the largest industries in Canada is the educational industry. There are thousands of teachers that play an important role throughout Canada. There are large groups of individuals working in the same industry. It’s not unusual for them to have special offerings on vehicle insurance. As such, the teachers often have this opportunity. It will depend on the province that they are teaching in. Ontario is a good example. Of how there is specialty insurance specifically designed for teachers.
Specialty Car Insurance for Teachers
Specialty insurance for large groups usually refers to group insurance. This means that an insurance company will develop an insurance product for a designated group. For teachers, the insurance product gets geared to what would be standard metrics. Within their group. Insurance companies use many different metrics. For determining what the premiums are going to be for each they insure. They are offering group insurance for teachers. There are individual metrics that will apply to each one that is in the group. This is advantageous as group insurance. The insurance company will be offering a discount. Based on the volume of clients that are signing up for the group insurance.
OTIP Vehicle Insurance
OTIP stands for the Ontario Teachers Insurance Plan. It is an organization that has come together. To be able to offer all different types of insurance products to teachers in Ontario. Individuals become a member of this organization. Then they can take advantage of the different insurance products. The various types that are being offered. Among these insurance packages is the vehicle insurance.
The Advantages of Teachers Vehicle Insurance through OTIP
Some organizations can have an insurance package developed. They do so by trying to include as many extra benefits as possible. They are intent on finding as many conveniences as possible. This counts as it relates to the vehicle insurance. The vehicle insurance offered through this organization has focused on what they call free benefits. They have gone a step above in some areas. Compared to buying insurance through regular resources.
Some of the extra benefits that OTIP is offering are guaranteed claims service satisfaction. Many hope that they will never have to put in a claim. But, if they do and they have had any experience with this they know that it can be a real hassle. OTIP is putting out a message. That it will be a much easier process when one gets insured through the OTIP coverage. They are offering a refund on premiums. If the insured is not satisfied with the way that their claim service gets provided. There will be some restrictions to this.
There are other extra benefits. They are promoting claims counselling and 24-hour claims service. This is not something that is exclusive to this particular insurance package. Several standard insurance companies offer the same type of benefits.
It is important to insurance shoppers to know about other insurance products. Ones that can get added on to their policy. Individuals that are going into a group policy get concerned. That they will not have the same options for add-ons. OTIP has made sure that there are choices for their insureds. Some appear to be unique. While others are standard.
There is a classic example of a unique product offering. It is the worry-free bundle that is available with the OTIP insurance. What they have done is collect some of the important add-ons. Ones that many insured drivers feel are important. In this particular bundle, they have a driving record protector. It is an offer that premiums will not increase as a result of a first at-fault accident. This is not uncommon. As some standard insurance companies offer this as first accident forgiveness.
Another interesting offer in the worry-free bundle is the reduction in deductibles. This is a reward type product. For every insured that goes claim free, their deductible will get reduced by 20%. To some, this is a great advantage. As they realize with the deductible, they have to pay a part of a claim depending on the circumstances.
The third sector of the worry-free bundle is their on-road guarantee. This again is like what some traditional insurance companies offer. It is a replacement for a rental car. Or pay for a taxi or public transportation if an individual’s vehicle is in an accident or if it gets stolen.
Besides the worry-free bundle, there are several other extra add-ons. Ones that are optional for the teachers that are insuring through this program.
There are other components to the insurance that is being offered to by OTIP. They have specific insurance products that one can buy. Ones that may be more geared towards their needs. This is something that is good because the insurance products are giving the option for a lot of choices. Not every type of insurance offered by organizations allows for this.
Teacher Vehicle Insurance Shopping Outside of Specialty Programs
The OTIP program for insurance products has covered all the important factors. There are some teachers that may still want to do comparisons. There are a lot of insurance companies in Canada. They all compete against each other. Including competing against some of the insurance products that are being offered through OTIP. Teachers need to do some comparison shopping. If they want to be sure that they are getting the best for their insurance investment.
To be effective at this, it begins by first knowing what OTIP has to offer and what the costs are going to be. Then teachers can simply get some online insurance quotes. They can then use these to compare against the OTIP packages. To see if in their circumstance they are better to go with a traditional insurance company. If not they are going to feel confident with OTIP. That the insurance they are investing in is the one that is best for them. By doing insurance quotes, it eliminates the second guessing. When it comes to vehicle insurance no matter whether it’s for teachers or anyone else.