Car owners receive their auto insurance renewal papers every
year. Some navigate the details easily. Many struggle to make sense
of the terms and figures. Over the next few weeks, we will be
providing a quick 101 class on the basics of auto insurance
coverages. Anticipating your needs and selecting the right type and
level of benefits is vital - and also a wise investment for the
future.
What Coverage is Required By Law?
If you drive on Ontario roads, you must be insured. It
doesn't matter whether you own your own car or you rent one
occasionally. Whenever you drive, insurance is mandatory. Every
policy comes with four standard coverages. These are:
- Third-Party Liability: Covers you if sued
for an accident in which another party is injured or killed, or
their property is damaged.
