The car insurance industry is the second biggest industry in Canada, with a $13.7 billion market share and $3.4 billion in annual revenues.
That’s an opportunity for a small but growing group of individuals and small businesses who are looking to diversify their investment portfolio, and for consumers who are trying to find the best value for their money.
It’s a growing industry with more than 50 million drivers.
And while some are making a career out of car insurance, many others are getting their start through small businesses.
With new legislation that came into effect in May, there are now a number of insurance options for small businesses that provide affordable, accessible coverage that covers their employees and their vehicles.
The new Insurance Industry Regulatory Organization (IIRO) legislation, which went into effect on April 1, provides a variety of insurance products, including commercial and personal auto insurance.
The legislation allows businesses to choose from a wide range of types of coverage that include collision and accident protection, and auto maintenance coverage.
Business owners and small business owners in Ontario are also covered under the new insurance, including those who are not members of a non-profit organization.
But what are the premiums?
For example, the Ontario government has set an average of $100 for commercial and individual insurance.
This is a low amount for a new policy, but for many, it’s a much-needed boost for a business.
The average premium in Toronto is $112 per year.
For businesses in other regions, it varies depending on the region, and the level of insurance coverage available.
For example in the Greater Toronto Area, the average premium is $128 per year, while in Montreal it’s $146 per year in the region’s north.
The rate is expected to rise over time, but the new legislation gives the industry a chance to improve its pricing and reduce the cost of covering employees and vehicles.
Here are the prices for commercial auto and commercial insurance in Ontario.
Commercial Auto Insurance