Myth: My car insurance company can charge me whatever they want for insurance.
Insurance companies cannot charge you any insurance rate they like. Each insurance company must have their rates approved by the regulatory body in their province. However, each insurance company may have different rates for the exact same driver profile, with the exact same coverage – as they use their own claims experiences to determine insurance rates. With that being said, you should shop around and obtain several car insurance quotes to find a better rate.
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