You are likely in the process of buying a new car, recently bought a new car, or looking at getting a different car insurance policy in the Mississauga area. Car insurance is mandatory for all vehicles in Ontario. We have some of Canada’s strictest insurance regulations and most expensive insurance premiums compared to other provinces.
By law, all vehicles registered in Mississauga must carry at a minimum mandatory car insurance coverage of:
- Third-party liability coverage of a minimum of $200,000.
- Accident benefits to recover from collision injuries.
- Uninsured motorist coverage of minimum $200,000 for accidents by an uninsured driver.
- Direct compensation coverage for damages if someone else is at fault.
Drivers purchasing car insurance in Mississauga can also choose among the optional insurance coverage available, which includes:
- Collision insurance coverage.
- Comprehensive car insurance coverage.
- All perils.
- Specified perils.
Best Car Insurance Rates in Mississauga
Finding the right car insurance rate is important. After all, owning a car and purchasing car insurance is a long-term and pricey commitment. When searching for the best car insurance rates in Mississauga, it’s important to look at a balance between your budget and coverage needs. You don’t want to break the bank and pay more than you can afford, but you also don’t want to cheap out on coverage.
Insurance rates and regulations are monitored by the Financial Services Regulatory Authority of Ontario (FSRAO), but there are tons of tools you can use to find the best car insurance rate that fits your driving needs and budget.
Some of the factors that can affect your car insurance rate include:
- Vehicle make, model, and year.
- Your age and whether you are a new driver.
- The claims and accident history in Mississauga.
- Your driving and insurance history.
- How much mileage you drive each year.
- The purpose of your vehicle – i.e., pleasure or business.
- Coverage amount.
- Type of car insurance you buy – i.e., collectors car insurance, high risk car insurance, commercial car insurance, etc.
Using a tool like Insurance Hero can help you compare different car insurance rates in Mississauga. We will help you shop for the best car insurance rates from over 12 insurance companies. All you have to do is enter your information, and we will find the best car insurance rates and policies for you to choose from, so you can make an informed and confident decision.