high-risk auto insurance policies in Ontario typically offer the same types of coverage as standard policies—the difference lies in the cost, not the protection. The higher premiums reflect the increased likelihood of claims, but the coverage options themselves remain similar.
A standard high-risk policy can include:
- Liability Coverage: Protects you if you injure someone or damage property.
- Accident Benefits: Covers medical and rehabilitation expenses.
- Direct Compensation – Property Damage (DCPD): Pays for your vehicle damage when you’re not at fault.
- Collision Coverage: Covers your vehicle damage when you’re at fault.
- Comprehensive Coverage: Protects against theft, vandalism, and weather damage.
The main difference is that some insurers may limit optional add-ons, or the cost of those add-ons may be higher. For example, roadside assistance or rental vehicle coverage might be available but at a premium.
Aaxel Insurance Brokers ensures that high-risk clients don’t sacrifice essential coverage just to save on premiums. They work to find policies that balance cost with adequate protection, so you’re not underinsured in the event of an accident.
Key takeaway: High-risk auto insurance covers the same essential protections as standard insurance—it just costs more due to your driving history. With the right broker, you can keep comprehensive protection while managing costs.
