Car Insurance: Get an Auto Insurance Quote

 How Does Car Insurance Work?

Whether you lease, finance, or own your car, it is mandatory to have car insurance. However, in order to be eligible for car insurance, certain conditions and restrictions apply.

To begin with, you (and all drivers you wish to include in the policy) must have a valid driver's license and be a resident of Canada. Next, insurance companies will look at your prior driving record to determine eligibility and rates. However, rates will vary depending on whether you are looking for a new insurance policy altogether or if you wish to renew an existing one. Other eligibility restrictions may arise from past convictions. This too, will vary depending on when your last conviction occurred and the nature of the conviction.

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 ccompetition  

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!

Mandatory Car Insurance Coverages Include

Whether you lease, finance or own your car, there is a minimum amount of required coverage you need to have by law to protect yourself and your loved ones. This minimum varies by province and can include coverage like:

Liability Coverage

If you injure someone or damage property, payments are made on your behalf.

Direct Compensation

Damages to your car are covered if you're not at fault.

Uninsured & Unidentified Automobile Coverage

Medical costs and damage are covered if an uninsured driver is at fault.

Accident Benefits Coverage

Regardless of who is at fault, medical and other expenses you are entitled to receive are covered.

Civil Liability

Provides coverage for damage caused to another person by an insured vehicle.