Car insurance in Ontario operates under a mandatory private market system regulated by the Financial Services Regulatory Authority of Ontario (FSRA). Every driver is legally required to carry a minimum baseline of coverages, including third-party liability, statutory accident benefits, direct compensation property damage (DCPD), and uninsured automobile coverage. Ontario utilizes a no-fault insurance system, which means that regardless of who causes a traffic collision, each driver's own insurance company pays for their vehicle repairs and medical claims. Motorists can customize their policies by purchasing optional endorsements like collision coverage, comprehensive protection, and accident forgiveness.
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