Car Insurance in Sault Ste. Marie & the Rest of Ontario

The city of Sault Ste. Marie is located in Ontario near the St. Mary’s River, which explains the name of the city; Sault Ste. Marie is French for “Saint Mary’s Rapids.” Sault St. Marie has a sister city of the same name across the border in Michigan; the two cities are connected by the International Bridge. The four largest industries in Sault St. Marie are steel-making, forestry, business process outsourcing and gaming. Collectively, these industries employ thousands of people within the city.

Insurance for a Vehicle in Sault St. Marie

People who commute to work within Sault St. Marie can either drive to work in their own cars or take public transit provided by Sault Transit Services, which operates eight bus lines. In Ontario, people who own, lease or drive cars are required to have auto insurance. Auto insurance can be purchased from any of the 140 companies that sell auto insurance in the province. Although auto insurance is sold by private companies, insurance in Ontario is not purely a private industry; it is heavily regulated by the Financial Services Commission of Ontario, a regulatory agency of the Ministry of Finance.

The Basics of Auto Insurance in Ontario

A standard auto insurance policy includes the following coverage: third-party liability, statutory accident benefits, direct compensation – property damage and uninsured motorist. You are required by law to have these types of coverage. If you are interested in increasing your coverage, you are welcome to do so. There are extra types of coverage specifically designed to cover the loss of or damage to your vehicle. One such type of coverage is specified perils coverage. Under this type of coverage, you are protected if your vehicle is damaged by perils such as fire, theft, lightning, windstorms, hail, earthquakes, explosions or rioting.

What About Collision Coverage?

Another type of extra coverage is collision or upset coverage. With collision coverage, you are covered in the event that your vehicle is damaged by coming into contact with another object or rolling over. Collision coverage is the type of coverage that would kick in if your car was damaged in a car accident. As with all types of coverage, you will probably have to pay a deductible before the insurance company will start paying out on perils or collision coverage.