Ontario Car Insurance Information
According to the Insurance Bureau of Canada, every person wishing to drive an automobile in Ontario, Canada, must purchase at least the minimum insurance coverage stipulated under Ontario law.
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Minimum Coverage
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The Financial Services Commission of Ontario explains minimum insurance coverage set under Ontario law includes third-party liability coverage, statutory accident benefits coverage and direct compensation. Ontario auto insurance must also include coverage for an accident involving an uninsured driver.
Extra Insurance
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The IBC website explains over 140 insurance companies offer auto insurance in Ontario. These organizations offer extra insurance options to add to the minimum insurance required by Ontario law.
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Penalties
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The Financial Services Commission of Ontario reports the penalties for uninsured drivers include fines of between $4,850 and $48,500. Other penalties include the suspension of the uninsured's driving license and impounding of the uninsured vehicle.
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