Car Insurance in Ontario
Driving in Ontario may mean that you are headed down the 401 during an icy snowstorm, or sitting in traffic on the Gardiner Expressway, gazing at the summer sunset over the Toronto skyline. When driving your car, feel confident your auto insurance coverage fits your needs.
Other Eligibility Considerations:
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
How Much Does Car Insurance Cost?
There are a number of factors that determine how much your car insurance will cost. Here are 7 of the key factors that insurance companies take into consideration when calculating your car insurance premium:
Your car: The make, model, and year of your car can affect your insurance premium. This determines the cost and value of the car, safety features, and repair costs.
How often you drive: The number of kilometers you drive your car per year will affect your insurance premium.
If you use your car for commercial purposes: If you use your car for work purposes (other than commuting), you may need to get commercial car insurance. Your business may require a higher liability limit.
Your driving record (and the records of all drivers who use your vehicle), which includes: The number of years you’ve all been licensed for. Convictions due to driving infractions (which includes speeding tickets). Accidents.
Where you live: Premiums are usually higher in and around large urban areas
The coverage you choose: The more adequate the coverage, the more it will cost to insure your vehicle
Special discounts: Belonging to a preferred group for professionals and alumni. With TD Insurance you can select up to three eligible groups!
Enhanced and Special Coverage
Where available, choose one of these options for beyond-the-minimum protection for your car.
Protects your vehicle from specified perils such as losses caused by fire, floods, hail or theft.
All other insured damage caused to your vehicle (except collision or upset).
Collision or Upset
Damage to your vehicle caused by a traffic collision with another vehicle or object.
The broadest level of coverage — combines Collision or Upset and Comprehensive coverage along with increased theft protection.
Limited Waiver of Depreciation
In the event of a total loss, you could get the purchase price of your vehicle as your settlement value1.
How Do I Save On Car Insurance in Ontario?
You could save up to 25% on your car insurance premium with TD MyAdvantage
Introducing TD MyAdvantage, a usage-based insurance savings program that is 100% voluntary and free. The safer you drive, the more you could save!