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Jan 19, 2024

6 min. read

Have you ever wondered what no-fault insurance means? What a waiver of depreciation is? Or even what the difference between an insurance agent and a broker is? If you have, you’re not alone. A recent CAA study showed that 53% of Ontarians found their auto insurance policy hard to understand. That’s why CAA Insurance created a tool to help you better understand what’s included in your auto insurance policy so you can have better conversations with your insurance agent or broker. CAA Insurance Company’s Insurance Guidebook is designed to educate all Ontarians – regardless of who your insurance provider is. Here’s a brief overview of what’s inside the guidebook.

A man and woman sitting at a table looking at a laptop.

An easy-to-understand explanation of key auto insurance terms.

While many people know that auto insurance is mandatory, most of us aren’t familiar with some of the key terms or processes in our policies. For instance, do you know how your premium is calculated? It takes into account things like your vehicle type, how often and how far you drive, any accidents or driving convictions you’ve had and where you live. Knowing these things can allow you to have more effective conversations with your insurance agent or broker, and even make a difference in how much you pay for insurance. The guidebook introduces many of the terms you’ll need to know, in easy-to-understand language. It also explains the ins and outs of at-fault and no-fault insurance terms, so you know exactly what your policy includes if you ever get into an accident.

A list of what’s included in your auto insurance.

In Ontario, there are mandatory and optional coverages that make up your policy, so you’ll want to understand what these are. That way, you’ll be able to better decide whether you need additional coverage or whether what you have is right for your needs.

A man and woman sitting at a table looking at a tablet.

An overview of what can impact your auto insurance rate.

Most of us know about basics like how clean driving records can lower our insurance premium and how too many speeding tickets can raise it. But do you know if photo radar tickets affect your rates? Or can switching to winter tires by a certain date lower them? The guidebook answers these questions and many more.

While auto insurance may not be the most exciting thing to read about, this guidebook can empower you to make more informed decisions – from purchasing a policy to making a claim. It will also help you talk more knowledgeably with your insurance agent or broker so that you get the right coverage for your needs.

Download CAA’s Insurance Guidebook or pick up your hard copy at a CAA Store near you. For more information on auto insurance and the coverage we offer, visit our page.

Auto Insurance is underwritten by CAA Insurance Company.

Terms and Condition

Certain conditions, limitations and underwriting guidelines apply.

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