Car insurance in Canada is a major household expense. In fact, car insurance in Canada is more expensive than in many other countries. Car insurance prices in Ontario are among the highest in Canada, with drivers paying an average of more than $170 per month in premiums.
Worse, the auto insurance regulations in Ontario are not very clear. Ontario uses a hybrid combination of casualty insurance and no-fault insurance. You can also avail the benefits of Ontarios best car insurance quote online via Reith & Associates.
With high rates and seemingly arbitrary rules, what little-known facts about Ontario auto insurance can help you? Read on to find out!
But at the same time, it is not always necessary to get full coverage. For example, if you have an older car, you can opt-out of this coverage. Not having comprehensive insurance on an old car can reduce your monthly insurance premium.
Fully comprehensive insurance is usually required for new or rental vehicles.
Covers for old cars can be upgraded! Classic car insurance rates in Ontario
The older your car, the less value it gets, right? In most cases, but not always. There are two scenarios where an old car costs more than a new vehicle.
First, some older vehicle models are more expensive to insure because some models have poor insurance history. For example, they are prone to theft, so insuring them is risky.
Many people are confused about car insurance. You might think your credit card insurance is enough, but it's not. It does not cover liability or damage to other people's property.