AUTO INSURANCE

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Ontario’s best car insurance rates

Shopping around for the best auto insurance quotes in Ontario is important as rates continue to rise. Car insurance rates are higher in Ontario and can vary significantly between providers. That’s why ICD offers competitive car insurance rates for Ontario drivers from the top providers in Canada. We have flexible coverage options and will help you find the lowest car insurance premiums in the Ontario marketplace.

By clicking the “get a quote” tab on this website, you can quickly compare rates online for free. Our licensed brokers are standing by and will help you get proper coverage while finding you the most affordable Ontario car insurance policy.

Certainly, there is much more to purchase decision of auto insurance than price alone.   Selecting an insurance broker who is committed to serving you should never be overlooked, remember an insurance broker does not work for the insurance company, they work for you!

How does car insurance in Ontario work?

All Ontario vehicles are subject to same auto insurance policy in Ontario.  This policy and its wordings are standard amongst all insurers.  It defines eligibility, policy requirements, how to buy, claims, proof of insurance, cancellation and more. It outlines consumer rights and responsibilities. Even though the policy wordings are standard within Ontario Auto Insurance policies,  there are countless options available.  Be sure to discuss these with your advisor so that you are not left under insured.

Here are some important things to know about how car insurance works in Ontario.

Ontario’s best car insurance rates

Shopping around for the best auto insurance quotes in Ontario is important as rates continue to rise. Car insurance rates are higher in Ontario and can vary significantly between providers. That’s why ICD offers competitive car insurance rates for Ontario drivers from the top providers in Canada. We have flexible coverage options and will help you find the lowest car insurance premiums in the Ontario marketplace.

By clicking the “get a quote” tab on this website, you can quickly compare rates online for free. Our licensed brokers are standing by and will help you get proper coverage while finding you the most affordable Ontario car insurance policy.

Certainly, there is much more to purchase decision of auto insurance than price alone.   Selecting an insurance broker who is committed to serving you should never be overlooked, remember an insurance broker does not work for the insurance company, they work for you!

How does car insurance in Ontario work?

All Ontario vehicles are subject to same auto insurance policy in Ontario.  This policy and its wordings are standard amongst all insurers.  It defines eligibility, policy requirements, how to buy, claims, proof of insurance, cancellation and more. It outlines consumer rights and responsibilities. Even though the policy wordings are standard within Ontario Auto Insurance policies,  there are countless options available.  Be sure to discuss these with your advisor so that you are not left under insured.

Here are some important things to know about how car insurance works in Ontario.

Auto Insurance is legally required in Ontario

Ontario vehicle owners must have car insurance to drive on provincial roadways. It is a legal requirement. The penalty for driving without insurance includes fines ranging from $5,000 to $50,000. You could also have your license suspended for up to one year, vehicle impounded and face increased insurance premiums.

Auto insurance in Ontario and other parts of Canada is required as a means of protection for all drivers and pedestrians. It provides a minimum level of financial protection for those involved in accidents. Without mandatory insurance, some would not have the resources to cover the cost of repairs or healthcare for accident-related injuries.

There is a minimum amount of mandatory coverage required which is part of a standard basic policy. This includes:

Third-party liability (TPL) $200,000 limit  is the minimum required by law
Accident benefits (AB)
Direct compensation property damage (DCPD)
Uninsured motorist insurance

You can also add optional coverage:

Collision insurance
Comprehensive insurance (a.k.a Fire & Theft)
Specified perils
All perils
Loss of Use
Family Protection

Ontario has no-fault system for auto insurance

No-fault does not mean no one is at-fault for an accident. No-fault insurance means that each driver goes through their insurer when a claim is made. This is regardless of who is determined to be at-fault for the accident. The only time a third parties insurance policy will respond to your claim is in situations where you are successful  in suing a 3rd party for damages.  Their insurance will indemnify them for your damages.

Ontario Auto Insurance is regulated

Auto insurance in Ontario is regulated by the Financial Services Regulatory Authority of Ontario (FSRAO). They are a branch of the Ministry of Finance. Insurers cannot increase rates without approval from FSRAO. They can apply to increase or lower premiums on a quarterly basis. The amount of the increase can fluctuate. For example, a company may request an increase because they experienced a large increase in claims payouts because of a severe weather event or increase in collisions. Rate hikes help to offset these costs.

All drivers have certain rights under the Insurance Act

You have the right to purchase car insurance coverage, to be treated fairly and to change or cancel your policy. You also have responsibilities as an insured driver. You are responsible to show proof of insurance, pay your premiums on time, and provide accurate information to your insurance company.

How much does auto insurance cost in Ontario?

The average cost of Ontario car insurance is $1,655 according to the Insurance Bureau of Canada (IBC).

How much you pay for car insurance in Ontario is unique to your situation. Rates vary greatly based on your driving record, insurance history, and location. A good driver with a clean record can pay significantly less than someone with tickets or at-fault accidents on their record. It literally pays to drive safely.

Your location is also a key factor. Car insurance in Toronto and other large cities like Mississauga or Brampton can be more expensive than the provincial average. There is more traffic and risk associated with these regions. Rates tend to be cheaper in more rural areas and in the Northern part of the province.

Vehicle insurance in Ontario is Available through private sector.

The Ontario car insurance market operates under a private model. You must purchase your policy from private insurance companies via an insurance broker or agent. In some provinces, Auto insurance must be purchased through the government.

Eligibility for auto insurance in Ontario

EVERYONE who owns a vehicle in is eligible for the mandatory legal coverage in the province of Ontario. In order to become insured with a Private insurer, you must meet a series of rules:

Your vehicle must be garaged in Ontario.

You must have a valid Ontario driver’s licence (G, G2, G1).

Anyone listed on the policy must have a valid licence.

Your vehicle is to be used for personal use only. You will need commercial auto insurance if you use your car for business purposes.

Your vehicle must be roadworthy and pass a car safety inspection. Any modifications must be reported to your insurer.

You do not have previous fraud convictions.

No serious past convictions or payment issues on your driving record.

You must fully disclose all information about yourself, vehicle and driving history.

If you do not qualify for insurance with a private insurer,  you can purchase coverage through the “facility association “.  The facility association is an insurance pool shared by all insurance companies and is offered if the individual cannot insure their vehicle through the private sector.

What to do in the event of a claim

If you are involved in an auto accident that involves significant damage or injury, you need to report it to your insurance company. Report it as soon as possible to start the car insurance claims process.

Here is how the basic process works:

Report the accident to the police or accident reporting centre.

Open a claim by providing the accident information to your insurance company.

An adjuster will be assigned to your case to determine fault and approve the claim. They must follow the rules outlined in the industry accepted fault determination chart.

Get an estimate for the repairs. Determine if repairs are needed or the vehicle is a total loss.

Your insurer will determine who is at-fault.

Your automobile is repaired.

The claim will be closed.

If you are found to be at-fault, your rates will likely go up on renewal.

Claims with injuries can require additional steps. Speak with your provider for more details about the specific steps they required.

What factors impact Ontario car insurance quotes

Insurance companies in Ontario can use many things to determine your car insurance quote. Here are some of the key considerations that impact your rate:

Experience behind the wheel: Experienced drivers are less likely to be in a collision compared to novice drivers.

Your age, gender and marital status: Insurers consider personal information such as your age, gender and marital status when determining rates.

Your driving record: A good driving record can make a huge difference in how much you pay. At-fault accidents and traffic violations will increase your quote.

Your car: The type of vehicle, make and model, age, safety ratings, price, theft, and repairs. These all have a big impact on your rate.

What are the factors which influence auto insurance rates?

Usage: Do you use your vehicle to commute to work? How many kilometres do you drive per year? The less you drive the less expensive your insurance will be.

Your postal code: Where you live is a big factor when companies are determining premiums. If your neighbourhood has higher statistics for claims, your premium will be higher.

Coverage amounts: The type and amount you select will impact your rates. Adding more coverage and endorsements will increase your premium but offers better protection.

Your insurance history: Policy gaps and payment issues will affect insurance history how much you pay.

Claims expenses: Car insurance claim expenses are surging. New technology in cars and more accidents in the province is contributing to the climb. As the costs go up, so do your premiums.

Approved rate changes: Providers are allowed to ask for increases/decreases qarterly. These rates are approved by the FSRA. May request an  increases because of climbing costs and other considerations, they may also request a decrease if their claim ratio is low and they wish to be more competitive.

Insurance companies: They determine rates on an individual basis. The provider you choose will impact how your driving profile is assessed. Premiums for the same vehicle can vary by hundreds of dollars based on the company you choose

Different types of AUTOMOBILE insurance

Classic/Collector Vehicles
Motorcycle
Snowmobile
ATV
Motor Homes
Tailers