The basic minimum auto insurance coverage required in Ontario is the same regardless of the insuring company or the premium paid. The rates charged by different insurance companies to insure the same driver, with the same car, for the same exact coverage, can vary by hundreds and even thousands of dollars. The reason for the rate differences is that each provider uses their own claims experience to determine premiums charged and each company will have a different history with each driving profile and car combination. And with so many insurance companies providing car insurance, odds are you may not be currently insured with the company that offers the best rate for your driving profile. If you think you’re paying too much, you may want to shop around for insurance to find a better rate.
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