Automobile Insurance in the province of Ontario is regulated by the provincial government and must be purchased for any licenced motorized vehicle. Certain coverages are required by law and additional coverages may be purchased to enhance your policy.

The following are the coverages that are required by law and a brief description of each.

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Liability - Protects you if someone else is injured or killed or their property is damaged. It will pay for legitimate claims against you up to the limit of your coverage, and will pay the costs of settling the claims.

Accident Benefits - Provides benefits if you are injured in an automobile accident, regardless of who caused the accident. These benefits include medical and rehabilitation care, income benefits, caregiver benefits and funeral and death benefits in the event that a person dies in the accident. Each policy provides basic coverage in this area, but if you feel you may need more coverage talk to your broker about increasing your accident benefits.

Uninsured Automobile - Protects you if you are injured or killed by an uninsured motorist or by a hit and run driver. It also covers damage to your automobile caused by an identified uninsured motorist.

Direct Compensation - Property Damage - Covers you in Ontario for damage to your automobile and to property it is carrying when another motorist is responsible.

The following are a list of optional coverages available to you and a brief description of each.

Increased Liability - You may purchase coverage beyond the $200,000 minimum required by law. In fact, it is highly recommended that you carry no less than $1,000,000 liability coverage.

Loss or Damage to your Automobile - You may choose from four types of protection that are listed below.
• Specified Perils - we will only pay for losses caused by fire, theft or attempted theft, lightning, windstorm, hail, rising water, earthquake, explosion, riot or civil disturbance, falling or forced landing of aircraft or parts of aircraft, or the stranding, sinking, burning, derailment or collision of any kind of transport in, or upon which a described auto is being carried on land or water
•Comprehensive - we will pay for losses, other than those covered by Collision or upset including: perils listed under specified perils, falling or flying objects, missiles and vandalism
•Collision of Upset - we will pay for losses caused when a described automobile is involved in a collision with another object or tips over
•All Perils - this option combines the coverages of Collision or Upset and comprehensive.
All of the above loss or damage coverages carry a deductible.

Other Optional Coverages - There are many other optional coverages you may add to your policy to enhace your coverages. Rental coverage in the event of a loss, coverage for non-owned autos and limited waiver of depreciation for new vehicles are just a few of the coverages that are available. Talk to you broker about customizing your auto policy to meet your needs.

Rating
There are many factors that go into how your vehicle is rated and this in turn determines the premium that you pay. It is because of these many factors that people should not compare their premium with that of others.

FACTORS USED FOR RATING:

Drivers
• How long each has been continuously licenced
• Driving record (has their been any accidents)
• Number of convictions for each driver
• Age of the driver
• Gender

Use of Vehicle
• Pleasure use only
• Is the vehicle driven to work? How Far?
• Business Use (eg. salesman, real estate agent)
• Commercial Use (eg. delivery, large trucks)

Area driven In
• The province of Ontario is broken down into many different driving territories. Each area has a different set of rates applied to them.

The Vehicle
• Make of vehicle (eg. Chevrolet, Ford)
• Year (eg.1999)
• Model (eg. Sunfire, Taurus)
• In some cases the value of the vehicle is also required to determine the premium.