![]() Insurance providers assess your risk based on the neighbourhood you live in. Even if your driving history have some past accidents or traffic violation records, their impact on your insurance tends to decrease over time as long as your further driving keeps clean. This means you have avoided traffic violations and accidents or any other smaller traffic infractions from getting your cost to unnecessarily increase. A clean driving record helps you save money on your insurance policy. ![]() Your driving history becomes one of the most influential factors when determining the cost of your auto-insurance. Some of these components that influence how cheap you car insurance will be are:ĭriving record. Determining a drivers mix of these different elements is what impacts how cheap or expensive their car insurance will be. When it comes to trying to get the cheapest auto insurance in Ontario, it all comes down to a number of differing factors. These are just some of the main reasons why car iinsurance quotes in Ontario are only going to keep going up, rather than come back down and regrettably there isn’t much you can do about it. Each one of these elements plays its respective role in pushing up insurance rates for the province. ![]() That being said the majority of drivers in Ontario live within the Greater Toronto Area (GTA) which presents a special case itself, it’s a big city so naturally you can expect busy roads, heavy population density and above average theft rates. Younger drivers, under 25 are effectively prejudged to be super high risk, particularly males under 25, so effectively guilty unless otherwise. Ontario is plagued with insurance fraud which boosts premiums and unlike other provinces standard rates don’t apply to all drivers. Uninsured Automobile Coverage must compensate up to $200,000.ĭirect Compensation-Property Damage is mandatory and included in all car insurance policies in Ontario.Įverybody loves a bargain when it comes to finding the best car insurance coverage, who doesn’t? Well, unfortunately, if you live in Ontario this may hard to come by, as drivers from the GTA even more so, pay the highest average auto insurance rates in Canada. These amounts can be increased to $ 1 million and $3 respectively.ĭeath and Funeral Benefits must be as follows: $25,000 for your spouse, $10,000 for each dependent, and $6,000 for funeral expenses. Medical, Rehabilitation, and Attendant Care Benefits are required at $65,000 for regular injuries and $1M for catastrophic injuries such as losing a limb or paralysis. You have the option to increase this benefit to $1,000 a week. Income Replacement, Non-earner, and Caregiver Benefits must cover weekly income replacement benefits of 70% of your gross income up to $400 a week. The three main categories have different levels of required coverage: Statutory Accident coverage is for accident-related expenses, regardless of who’s at fault. ![]() ![]() Many drivers opt for coverage of $500,000, $1 million, or $2 million, with the last rate the most popular. Third-Party Liability of $200,000 to pay for other people’s damages. Ontario requires the following mandatory minimum car insurance coverage: ![]()
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