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How Much Is Car Insurance in Ontario

Auto insurance is arguably one of the most important purchases you can make. It’s not just for protection financially, but also for peace of mind when it comes to driving. In this post, we will explore how much car insurance is in Ontario and provide some tips on how to save money on your policy. From understanding your coverage to comparing rates, read on to learn everything you need to know about car insurance in Ontario.

What is car insurance?

When it comes to car insurance, the price will depend on your driving record, age, and location. In Ontario, the average monthly premium for a driver with a clean driving record is around $106. For drivers with a significant traffic violation, the premium can be as high as $1,040 per month. The best way to find out what your specific rate would be is to get quotes from several different providers.

Types of car insurance

There are a variety of types of car insurance available in Ontario. Each has its own benefits and drawbacks.

The three main types of car insurance are personal auto, commercial auto, and rental car.

Personal auto insurance covers a driver and all passengers in their vehicle. It usually costs more than other types of car insurance, but it’s important to note that it doesn’t cover vehicles owned by others (such as rental cars).

Commercial auto insurance covers businesses and their employees when they’re driving company vehicles. This type of coverage is typically more expensive than personal auto coverage, but it can be a good option for businesses that need to keep track of the mileage their employees are putting on the cars.

Rental car coverage is typically included with regular personal or commercial auto policies, but it’s worth checking to see if this is the case before buying a policy. Rental car insurance protects you if something goes wrong while you’re using the rental car.

There are also specialty car policies available that cover specific situations, such as collision or comprehensive coverage for when you’re driving your own vehicle for business purposes. It’s always worth talking to an agent about what kind of coverage would be best for you.

How much does car insurance cost?

Car insurance rates in Ontario vary depending on the type of car you drive, your age, and the province you live in. The following are some average rates for a standard policy:

Car Insurance Rates by Province
Ontario: $1,233 per year
Quebec: $1,227 per year
New Brunswick: $899 per year
Nova Scotia: $1,038 per year
Prince Edward Island: $898 per year
Newfoundland and Labrador: $959 per year
The cost of car insurance can also depend on the vehicle you drive. Here are some average rates for a standard policy for different types of cars:

Conclusion

One of the most important factors to consider before buying car insurance is your driving record. Car insurance companies in Ontario use a range of criteria to determine what level of coverage you should have, including your driving history and the type of car you are driving. To get a better understanding of how much car insurance you may need, it is best to speak with an agent or visit one of the many online calculators available.

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