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Cheapest cars to insure in Ontario 2022

Buying a car? Your guide to the cheapest cars to insure in Ontario.

The cheapest cars to insure in Ontario

When it comes to auto insurance in Ontario, many factors determine your annual premium.

One of the most influential factors that affects your car insurance rate is the vehicle you drive. Two of the main things insurance providers take into consideration when it comes to your vehicle are its safety rating and the likelihood of it getting stolen. Every vehicle model is given a Canadian Loss Experience Rating (CLEAR) according to these and other factors, such as claims costs, which all help determine your auto insurance premium.

As you shop for your next vehicle, it’s important to keep safety and security in mind. However, it’s also useful to begin your search with well-known, budget-friendly models that suit your lifestyle.

Using the RATESDOTCA auto insurance quoter, we’ve ranked the cheapest cars to insure in Ontario out of 200+ models according to vehicle affordability, popularity, and body segment. The premiums shown below are based on quotes using the same driver profile.

Top 10 most affordable car models that are cheapest to insure in Ontario

Using Auto123.com’s list of the 10 cheapest new cars in Canada, we compared insurance rates among each model. The following list displays the most affordable vehicles in order of most to least affordable to insure in Ontario. The premiums shown are for 2021 models.

Rank Vehicle Lowest annual premium
1. Hyundai Venue Essential $1,782
2. Nissan Kicks S $1,936
3. Chevrolet Spark LS $1,985
4. Kia Rio LX+ $2,174
5. Toyota Corolla L $2,245
6. Hyundai Elantra Essential $2,289
7. Mitsubishi Mirage ES $2,308
8. Nissan Sentra 2.0 S $2,326
9. Nissan Versa 1.6 S $2,353
10. Kia Forte LX $2,385

The Hyundai Venue Essential with manual transmission is the cheapest to insure in Ontario among the most affordable vehicles.

Though these 10 passenger vehicles and small SUVs are the most affordable, they’re not necessarily the cheapest overall to insure, given their vulnerability on the road.

When it comes to your vehicle, size matters

Larger, heavier vehicles offer more protection in a collision than smaller ones, which is why some insurance companies may offer cheaper rates for pickup trucks and SUVs. These vehicles tend to have very durable frames and are unlikely to collapse in on themselves following a collision, ultimately keeping the occupants safer than the lighter frames found on smaller cars.

Bigger vehicles are also associated with safer driving; insurance companies consider mid-range SUVs and minivans to be family cars, and thus more likely to have a sensible, cautious driver behind the wheel than a “souped up” sports car, for example. In the eyes of your insurance provider, the vehicle you choose says a lot about you.

Aside from the make and model of your car, insurance companies also consider the age of the car when assessing its safety. Newer cars have more safety features, but that also makes them more expensive to repair and replace. Each insurance company will assess the likelihood of you needing to make a claim, and how much that claim is likely to cost, before giving you a quote for car insurance.

Top 10 popular car models in Canada that are cheapest to insure in Ontario

At the start of the COVID-19 pandemic, new car sales dropped tremendously by 19.6% between 2019 and 2020, mainly due to a shortage of semiconductor microchips needed for production. Despite seeing some improvement in 2021, the volume of new vehicle sales continues to lag due to supply chain issues.

According to GoodCarBadCar.net, the Ford F-series truck was the best-selling vehicle in Canada in 2021, selling 116,402 units. But according to RATESDOTCA data, the fourth most popular vehicle on that list — the GMC Sierra — is the cheapest popular vehicle to insure in Ontario.

Comparing car insurance rates for the popular models you’re considering can help you narrow down your options according to affordability. Below is a list of the top-selling vehicles in Canada in order of most to least affordable to insure in Ontario in 2022. The premiums shown are for 2021 models.

Rank Vehicle Lowest annual premium
1. GMC Sierra 1500 (2WD) $1,779
2. Chevrolet Silverado 1500 (2WD) $1,811
3. Ford F-150 XL (2WD) $1,862
4. Ram Pickup 1500 (2WD) $1,885
5. Hyundai Kona Essential $1,966
6. Honda CR-V LX $2,139
7. Nissan Rogue S $2,218
8. Toyota RAV4 LE $2,238
9. Toyota Corolla L $2,245
10. Honda Civic LX $2,592

How to save on car insurance

While vehicle popularity may say something about the car’s performance, and purchase price is important to factor into your budget, choosing a vehicle with an affordable car insurance rate always makes sense in the long run.

Like the cost of gas, which continues to increase, your car insurance premium is an ongoing expense that must be sustainable. For many, it may be the most important factor when buying a car.

Many of the choices you make when purchasing a vehicle can help save you money on your annual auto insurance premium. Whether your priority is finding a popular model, an affordable vehicle, or a specific body style and size, consider the risk factors of each option as well as the insurance costs.

But don’t forget that your premium is comprised of several other factors, including your driving record, insurance history, age, and postal code. Ultimately, when it comes to cheap auto insurance, there is no substitute for safe, defensive driving. A bad driver in a safe car is still an insurance risk. For the very best deals on car insurance, stick to the rules of the road, maintain a clean driving record, and compare quotes on RATESDOTCA.

Cheapest cars to insure in Ontario by body segment

Using GoodCarBadCar.net’s best-selling vehicles list from last year, we’ve determined the cheapest models to insure in Ontario within each body segment.

After comparing 200+ models, the Chevrolet Colorado is the cheapest car to insure in Ontario in 2022, offering a cheaper insurance rate than all the vehicles listed in the popular vehicle, affordable purchase price, and body segment categories. Comparing car insurance quotes is a great way to find an affordable model to insure when shopping with vehicle size in mind.

The remaining segments are listed below in order of insurance affordability.

Body Segment Vehicle Annual Premium
1. Pickup truck Chevrolet Colorado LT EXT CAB (2WD) $1,542
2. Small passenger Volkswagen Golf Comfortline 1.4 TSI Hatchback (4DR) $1,696
3. SUV Subaru Outback 2.5i Wagon (AWD) $1,730
4. Hybrid and EV Kia Soul EV Premium (5DR) $1,856
5. Midsize passenger Subaru Legacy 2.5i (4DR AWD) $1,964
6. Minivan Kia Sedona LX $1,977
7. Sport Porsche 718 Boxster GTS Convertible $1,980
8. Large passenger Toyota Avalon Limited (4DR AWD) $2,243

If you’re shopping for a particular vehicle body type, compare car insurance quotes for cars within that segment. The premium available to you for each vehicle may help narrow down your selection.

Methodology

We used the following parameters to find out the lowest premium available for each 2021 vehicle model (base trim used unless otherwise specified) in Ontario:

  • Number of vehicles: 1 (2021 model)
  • Number of drivers: 1
  • Clean driving record (no collisions, suspensions, or traffic tickets)
  • Age: 35
  • Gender: Male
  • Lives in the M6H 1X1 postal code of Toronto, Ont.
  • Consistently licensed/listed on an insurance policy for 19 years
  • With current insurance company for two years
  • Collision and comprehensive coverage
  • Parked in private driveway
  • Drives 10,000 kilometres annually
  • Personal use
  • Winter tires
  • Did not opt for any discounts related to telematics or bundling

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