Is Car Insurance Mandatory in Ontario?
Whether you lease, finance or own your car, in Ontario this is the minimum amount of required coverage you need to have by law to protect yourself and your loved ones.
Liability Coverage: If you injure someone or damage property, payments are made on your behalf.
Direct Compensation: Damages to your car are covered if you’re not at fault.
Uninsured Automobile Coverage: Medical costs and damage are covered if an uninsured driver is at fault.
Accident Benefits Coverage: Regardless of who is at fault, medical and other expenses you are entitled to receive are covered.
Learn more about the Ontario Auto Insurance Reform changes
Learn more about Car Insurance
How Does Car Insurance Work?
Whether you lease, finance, or own your car, it is mandatory to have car insurance. However, in order to be eligible for car insurance, certain conditions and restrictions apply.
To begin with, you (and all drivers you wish to include in the policy) must have a valid driver’s license and be a resident of Canada. Next, insurance companies will look at your prior driving record to determine eligibility and rates. However, rates will vary depending on whether you are looking for a new insurance policy altogether or if you wish to renew an existing one. Other eligibility restrictions may arise from past convictions. This too, will vary depending on when your last conviction occurred and the nature of the conviction.
Other insurance conditions may arise depending on the type of vehicle, its use, and any customizations or modifications made to the vehicle. For example, if you have altered your vehicle to enhance its performance or appearance, most insurance companies would need to assess the vehicle to determine if they could insure it. If you plan on modifying your vehicle, call us first! We will let you know if the changes you plan on making could have an impact on your policy.
Other factors that may also prevent an insurer from issuing you a policy:
Your vehicle has substantial unrepaired damage or is deemed unsafe
Your vehicle is rented or leased to others
Your vehicle is used for racing or competition
Learn more about Car Insurance Eligibility and Restrictions
How it Works
Enter your information
Enter your information
We’ll need your postal code, driving experience and vehicle information.
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Call a broker
Call a broker
Talk to an insurance broker to confirm the details of your quote.
Purchase your policy
Secure your policy
Purchase a policy from your chosen insurance company when speaking to the broker.
Just like that.
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