The car insurance laws are different in each part of Canada, but the principles are same across the nation. The provincial governments have the authority to create as well as enforce their own specific car insurance car insurance regulations. Therefore, your claim can be settled on the basis of the state you’re residing in and the type of accident you have suffered. Your car license can be cancelled if you do not have insurance policy. So, you need to be aware of the auto insurance law implemented in Toronto, to avoid cancellation of your driving license. You need to follow a few simple rules given below, implemented in Toronto.
Here are a few car insurance laws implemented in Toronto:
Insurance policy is compulsory: In Toronto, if you drive without carrying your insurance policy, you can be fined or your driving license can be confiscated. Remember, a minimum coverage is required in Toronto. The penalties may vary from provinces to provinces. For instance, in Ontario, if you do not have car insurance, you pay a fine from $5,000 to $50,000. Your driving license can be suspended, and your car can be seized for driving without insurance. You may find it difficult to obtain car insurance policy if you’re found guilty. You’re responsible for paying for the damage or injury if you suffered an accident while uninsured.
Complete information on “Pink Card”: If you buy auto insurance in Toronto, then it might be valid in other provinces of Canada. The insurer, irrespective of private or government, may issue you a Canadian Inter-Province Motor Vehicle Liability Insurance Card. This is popularly known as the Pink Card. Therefore, you need to keep the card with you whenever you’re driving in different provinces.
An overview on public insurance companies: The provincial government monitors the public car insurance companies. Remember, in some provinces you can reply only on public insurance companies for full coverage. In some other provinces, you need to buy insurance from both public and private insurer to be fully covered. Generally, the government manages the injury claims, whereas the private insurers settle physical damage claims.
Requirements for a policy: You need to provide driver’s identity, the driver’s record, information on car model, and the car vehicle identification number along with the average distances traveled. The basic information is required to get a car insurance policy in Toronto. Therefore, provide the required information when you look for car insurance policy.
Therefore, you need to keep the above-mentioned facts in mind when you plan to buy car insurance policy in Toronto.
Photo by Garry Knight