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Will A Minor At-Fault Accident Impact My Car Insurance Premium?

Posted Sep 25th, 2017 in Media, General, Insurance Tips, Auto Insurance, Did You Know?, In the News

If you have been in a minor at-fault accident and you are curious if that will impact your car insurance premium you must read this.


Have you been in a minor at-fault accident? To lessen your worries, you should know that on June 1, 2016, the Financial Services Commission of Ontario (FSCO) announced that insurance companies can no longer use a minor at-fault accident that has occurred on or after June 1 to increase your premiums. The provision is limited to one minor accident every three years.

When is an accident “minor”?

Will A Minor At-Fault Accident Impact My Car Insurance Premium? Youngs Insurance, Ontario

An accident is considered “minor” if there were no injuries and the damage was under $2,000 per car. In a minor accident, the insurer does not have to make any payouts. 

How does it affect my car insurance?

If you are at fault in a minor accident, and you pay for the repairs for your car and the other car, the accident will not impact your subsequent insurance premium amount. Make sure you pay the repair shop directly and keep the receipt of payment. Minor accidents may be considered if they happen more than once within three years.

How do I fill out a car insurance application if I have been in a minor at-fault accident?

When you fill out a car insurance application, the insurance company might ask you to give details of all accidents and claims during the last 6 years. It is important that you disclose all accidents and claims honestly, including minor accidents.

This is one of the steps the FSCO has made to make insurance policies more affordable for Ontario residents. If you have been in a minor accident and are unsure of how it will impact your premium, contact your Youngs Insurance broker today.

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