Auto insurance Canada

Owners of motor vehicles driving on the public roads of Canada are required to insure their automobiles. The auto insurance laws vary depending on the territory or providence in which one lives. Transport Canada is the Canadian federal government agency responsible for road safety, although each province or territory has the authority to establish its own traffic and safety laws and issue driving licenses. What is auto insurance for? Auto insurance guarantees payment of expenses incurred when your vehicle is involved in accidents or is subjected to vandalism or theft. You can purchase collision coverage from the car-rental company. Cost varies, but averages $10 to $12 dollars a day. This coverage is handy because if you cause damage to the rented car it will not affect your regular car insurance premium. The Act specifies basic accident benefits for almost anyone injured in a motor vehicle accident, and higher coverage for those catastrophically injured. Auto Insurance Rate Stability Act, the legislation for automobile insurance in Ontario, allows accident victims to be compensated for their losses through the courts. While each policy could be of some benefit under the right circumstances, you should review each plan (its provisions, limitations, and exclusions) before making a purchase. Many factors affect the premium you will pay for auto insurance. Each is a statistically based risk for a specific population.