How is your Ontario auto insurance premium determined?
Your individuality matters to us. Every driver is unique and we have improved our Ontario rating program to better reflect this. Just as your insurance protection can be tailored to your needs, so too will premiums reflect you as an individual driver.
Elements that are taken into consideration in Ontario:
- Where you live
- The car you drive
- The number of drivers in your household
- Your age, gender and marital status
- The number of years you have been licensed to drive
- For new drivers – if you completed a driver training course
- The number of convictions and licence suspension in the last 3 years
- The number of accidents you have been at-fault for in the last 10 years
- The number of kilometers you drive per year and the breakdown (pleasure vs. commute vs. business)
- The amount of protection (such as third-party liability at 1 million vs. 2 million) and deductible you choose
Premiums are established in compliance with regulation pertaining to auto insurance in Ontario. If you would like more information about auto insurance in Ontario, you can visit the Financial Services Commission of Ontario (FSCO) website at www.fsco.gov.on.ca.
There are also additional ways you can lower the premium on your auto insurance, Check out 6 ways to save on auto insurance
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