Most Canadian car insurance companies require that you are added as a principal driver instead of an occasional driver once you get your G2 license. Because of your G2 status allowing you to now drive without an accompanying driver in the front seat you will need to be put on either your parent's policy or acquire your own insurance to be properly covered. You cannot drive without insurance as you may have done with the G1. With the lessening of restrictions that come with obtaining a G2 comes more responsibilities, such as having insurance.

According to the Ministry of Transportation (MTO), Ontario has compulsory automobile insurance. This means every vehicle registered in the province must be insured.

You must show proof that you have insurance coverage before you can register a vehicle or renew your registration. If you do not tell the truth about your insurance or if you show false documents, you can be fined $500 to $2,500. You may also lose your driver’s licence for up to one year and have your vehicle taken away for up to three months.

You must insure all your vehicles for third party liability of at least $200,000. This covers you in the event that you injure or kill someone or damage some one's property. Collision insurance to cover damage to your own vehicle is a good idea but not required by law. When driving your own vehicle or someone else’s, you must carry the pink liability insurance card given to you by the insurance company for that particular vehicle.

You can check with the MTO for more insurance law information but it would appear that you need to carry insurance and that not carrying insurance and paying out of pocket for an accident is not an option.