If you’re a first time driver, and a first time car insurance shopper, there are a few terms that you may want to familiarize yourself with before you completely set out to shop for this policy. For instance do you know what a premium is, and how it relates to the rest of the terms of any car insurance in Ontario? Of course, there is the deductible. Do you know what this term is? Okay, as a bit of a primer, you can expect to find out that the premium is the rate, the amount you’ll end up having to pay for the insurance policy. The deductible is an amount that you’ll have to pay out of pocket (meaning you pay for this yourself) when you actually need the insurance to cover costs. The insurer will not start to cover costs, until costs have exceeded this deductible amount, and until you’ve paid this amount (to the service provider).