Monthly Archives

October 2018

Buying Insurance Online

6 Reasons Why Canadians Should be Buying Insurance Online

Almost everything these days has moved online, some things faster than others. There is no doubt there are many advantages to moving to the online world be it in banking, retail sales, social networking, news and just about any other thing in our lives. But some things have been much slower to move online than others, which brings us to insurance. Most of us are still buying our insurance like it’s 1999. Lately there has been a big push for home and auto online but what about all the other products out there? Most of the European insurance industry is light years ahead of Canada as less than 5% of insurance is currently transacted online in Canada.

Going online is the best

Traditional insurance sales will try to scare you away from online by pushing that you don’t really know what you are getting, your policy isn’t custom tailored to you, and you don’t get the benefits of an expert that knows the product. But are you really getting that now and will you really be losing any of that? Here’s why you should be buying insurance online.

Reason #1- Control

With online insurance you can shop where you like, when you like and can better pick and choose your coverage. You don’t have to rely on the traditional channels that sell one or two companies’ products. It’s also easy to check a company’s reputation and level of service. You can also easily compare what different companies are providing.

Reason # 2- Your Time

In our fast-paced world, you don’t have time to shop around for your insurance using the old methods of calling and asking for quotes, waiting for a response, and having to decipher what coverage you are getting. You can also shop on your own time when its convenient for you rather than a company’s office hours.

Reason # 3- Your Money

Buying insurance is often a necessity for a variety of reasons but why pay so much more for something because of outdated processes? Technology has drastically cut the amount of hands that are needed to get you the best possible coverage. By going direct, the extra commissions can be removed saving you money.

Reason # 4- Less paperwork

Processes can be streamlined, and information kept digitally. Ever want to know what’s covered on your policy and tried to find that renewal document you received last year? Online forms are interactive and can help eliminate unnecessary lines of questioning. You can upload supporting documents without the need to photocopy, courier or mail.

Reason #5- Transparency

An online policy will allow you to see and understand all features of what you are getting. In addition you can review the reputation of the company issuing the policy. Always remember to carefully review policies and if something isn’t clear engage the chat bot who is a live insurance agent.

Reason # 6 Easy access to complete policy details

A good online broker will make it easy to connect and answer questions and provide a level of advisory to complete a policy purchase. When going through the quote process, you should be able to carefully review what coverage you are getting and do it when its convenient for you. Again, always remember to carefully review policies and if something isn’t clear contact the company and ask.

So there you have it; Canadians should be buying insurance online. It’s simple, convenient for you and can save you a lot of money. Get started today with a quote from Obvi.

Obvi In The News – Calgary’s Business

Obvi  discusses the insurtech space and how Obvi is re-imagining extended warranty and GAP insurance with Calgary’s Business. Read the full article here or visit  the Calgary’s Business Website.

Obvi sells extended warranty, new vehicle replacement cost insurance, and GAP insurance policies direct to you. Customer satisfaction is Obvi’s top priority, so we’ll always be there to help when and how you need us. Go to and get a free instant quote and protect yourself from unexpected repair bills at a reasonable price.

Check out our blog to learn more about vehicle warranties and what to know when deciding how to protect your investment.

Which Cars Have The Best Warranty?

When researching your next new or used vehicle purchase, it’s a good idea to consider which one comes with the best warranties.

All new cars, trucks and SUVs come with comprehensive and powertrain warranties from the manufacturer. Most comprehensive manufacturer warranties are 3 years/60,000 km or 4 years/80,000 km, with powertrain coverage generally being longer. What’s the difference between comprehensive and powertrain?

Comprehensive WarrantyPowertrain Warranty
·        Covers defects in workmanship on most working parts of the vehicle, including electrical, fuel systems and heating and cooling.·        The powertrain warranty covers the parts of a car that provide power and make it move. This is the engine, transmission and drivetrain.


Other types of vehicle coverage that are included from the manufacturer include:

  • Hybrid/electrical powertrain coverage is also provided for a separate term and varies among automakers, but most are around 8 years/160,000 km.
  • Roadside assistance is also included with new vehicles and ranges anywhere from 3 to 6 years, or 60,000 km to unlimited kms.
  • Some manufacturers provide varying terms of coverage for certain components such as emissions, radio systems, batteries and other wearable parts.
  • Manufacturers include varying terms of rust-perforation warranty on new vehicles.

It’s important to read the fine print of any warranty and understand the various levels of coverage.

Which cars comes with the best warranty in Canada?

That goes to Mitsubishi, offering the overall best vehicle warranty at terms of 5 years/100,000 km for the comprehensive coverage and the best powertrain warranty at 10 years/160,000 km. For comparison, a list of the current coverage each manufacturer offers for its comprehensive and powertrain warranties is provided at the end of this blog.

Regardless of the type of vehicle considered, you may notice that all the manufacturer warranties have something in common: coverage generally expires long before it is truly needed.  Each manufacturer has determined when they can offer protection without having to charge for it, and this equates to what is known as manufacturer’s warranty. Once the time or distance allowed has been exceeded, an extended warranty is needed for further coverage.

What’s the best extended car warranty?

We have discussed this topic in previous blog posts to some extent, but here are some additional things to consider. Automotive retailers are in a position to offer:

  • A third-party warranty, most likely in the form of an insurance policy
  • Extended coverage from the manufacturer, most likely in a “service contract”

What is often misunderstood at this point is that the automotive dealer is selling a policy or contract for which they have no overview or administrative role in the event of a claim. The sales agent has a laundry list of tactics and years of sales training to earn a commission. Car buyers should look online for alternatives and ask a lot of questions. Don’t feel pressured to immediately buy the extended warranty at the time you’re purchasing your new vehicle, as you usually have 30 days or more to make a decision.

Here are some things you should be concerned about:

  • Transfer/cancellation options — your needs are always changing, so does your warranty support that?
  • Time and distance — Don’t let years of coverage trump kms. Make sure you get a km option that you are happy with.
  • Offer of a “no claim credit”— If it sounds too good to be true, it usually is. Typically, you pay a premium for this, and getting the money back is rarely a straightforward process and might require the purchase of a new vehicle from the same dealer.
  • Fine print — You mostly need to be concerned about what isn’t covered. Fancy brochures won’t be brought out when a claim happens.
  • Price — Shop around. Rarely do you get a reasonable price for extending a warranty at a dealership.

Find out more about Obvi and our extended warranty policies, and get a free quote now.