Do I need car insurance if I don’t drive my car in Ontario?

In Ontario, all registered vehicles must have insurance coverage, regardless of whether they are driven or not. This is because the province requires all vehicles to have insurance in case they cause damage or injury to others, even if they are not being driven.

If you have a registered vehicle in Ontario and don’t plan on driving it for an extended period of time, you may be able to reduce your insurance coverage or temporarily suspend it. However, you should still maintain liability insurance coverage, which covers you in case someone is injured or property is damaged as a result of your vehicle, even if you’re not driving it.

If you’re planning on not driving your car for an extended period of time, you should contact your insurance provider to discuss your options. They may be able to offer you a reduced coverage plan or help you temporarily suspend your coverage until you’re ready to start driving your car again.

Is parking insurance mandatory?

In Ontario, parking insurance is not a specific type of coverage that is required by law. However, all vehicles that are registered in Ontario are required to have a minimum level of insurance coverage, which includes third-party liability coverage. This coverage protects you in the event that you cause damage or injury to another person while operating your vehicle.

While you may not be driving your vehicle, it’s still possible for it to cause damage or injury to another person while it’s parked. For example, if your vehicle rolls down a hill and damages another vehicle or property, you could be held liable for the damages. In this case, your third-party liability coverage would apply.

Additionally, if your vehicle is parked on a public road or in a parking lot, it could be at risk of damage or theft, which is why it’s important to have comprehensive coverage as well. This coverage protects you against damage to your vehicle that is not the result of a collision, such as theft, vandalism, or weather-related damage.

While parking insurance is not mandatory, having adequate insurance coverage is important for protecting yourself and your vehicle from potential risks and liabilities.

How much does parked car insurance cost in Ontario?

The cost of parked car insurance in Ontario will depend on a variety of factors, including the make and model of your vehicle, the level of coverage you choose, and your driving record. However, parked car insurance is typically much cheaper than regular car insurance because the risk of accidents is lower.

Here are some sample rates for parked car insurance in Ontario:

1. Liability-only coverage for a parked car can cost as little as $20 to $30 per month, depending on the make and model of the car and the location where it is parked.
2. Comprehensive coverage for a parked car can cost between $50 and $100 per month, depending on the make and model of the car, the location where it is parked, and the level of coverage you choose.

It’s important to keep in mind that these rates are just estimates and can vary widely depending on your individual circumstances. The best way to get an accurate quote for parked car insurance is to contact your insurance provider and provide them with details about your vehicle and the level of coverage you are looking for. They can give you a more specific quote based on your individual needs.

What does parking insurance cover?

Parking insurance, also known as comprehensive coverage, typically covers damage to your vehicle that is not the result of a collision while it is parked. This can include damage caused by theft, vandalism, weather-related incidents, or other non-collision events. Here are some examples of what parking insurance may cover:

1. Theft: If your vehicle is stolen while it is parked, comprehensive coverage will help cover the cost of replacing your vehicle.
2. Vandalism: If your vehicle is vandalized while it is parked, such as having its windows broken or its body scratched, comprehensive coverage can help cover the cost of repairs.
3. Weather-related damage: Comprehensive coverage can help cover damage caused by weather events, such as hail, falling trees, or flooding.
4. Animal damage: If an animal damages your vehicle while it is parked, such as by chewing through wiring or scratching the paint, comprehensive coverage can help cover the cost of repairs.

It’s important to note that comprehensive coverage does not cover damage that occurs as a result of a collision. For that type of coverage, you would need collision coverage or a full coverage policy. Additionally, the specific coverage and limits of your comprehensive coverage may vary depending on your insurance provider and policy.

Can you drive with parking insurance in Ontario?

No, you cannot legally drive a vehicle with only parking insurance in Ontario. While parked car insurance, also known as comprehensive coverage, provides protection for your vehicle when it’s not being driven, it does not provide coverage when the vehicle is in use. In Ontario, all registered vehicles are required to have a minimum level of insurance coverage, which includes third-party liability coverage, in case they cause damage or injury to others while on the road.

If you plan on driving your vehicle, you’ll need to have the appropriate level of insurance coverage, which typically includes both liability and collision coverage. Liability coverage will help protect you in case you cause damage or injury to another person or their property, while collision coverage will help cover the cost of repairs to your vehicle if it is damaged in a collision.

It’s important to make sure you have the right level of insurance coverage before driving your vehicle to avoid any legal and financial consequences that can result from driving without insurance.