These are uncertain times, but one thing that is certain is our commitment to you. As an online business, we're set up to help you remotely so you can still take care of your insurance, mortgage and money decisions.
To learn about financial relief, insurance rebates, billing flexibility and other relief efforts offered by insurance and personal finance companies, read our COVID-19 insurance relief guide. You can also use our Covid-19 rebate calculator to figure out how much money these efforts can help you save on your auto insurance premiums during this unprecedented time.
Rates.ca is Canada's premier destination for the best rates. We compare quotes from over 30 top brokers and financial institutions in Canada to find you the right coverage at the best price. Access to these quotes is just a few clicks away!
There is a reason people trust Rates.ca to find the cheapest car insurance quotes in Canada. We make insurance transparent, simpler, and better. This means we will match you with rates tailored to your needs and driving lifestyle, always allowing you to make your final, educated decision with the most relevant information that is made available to you, every step of your way.
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Rates.ca provides rates from Canada’s most well-known and trusted insurance companies! By providing quotes from such a broad range of insurance partners across multiple product lines, we are able to help consumers find their cheapest insurance rates.
We work closely with our insurance partners to make sure what we do is impactful, and to provide you with the best insurance products at affordable prices so that you can always rely on the best. Rates.ca shops with up to 30 of the top insurance companies in Canada. These include Aviva, Wawanesa, Jevco, Economical, Intact, RBC Insurance, and Echelon, among many others.
Car insurance is more affordable than you think if you shop around and compare to find the best rates. If you have ever done comparison shopping, you may have noticed that each insurance company offers different rates for the same amount of coverage. The market is competitive, so comparing quotes online is the easiest way to ensure that you are getting the cheapest quotes without lacking the coverage you need. This can save you hundreds of dollars every month. For instance, consumers in Ontario who shopped for car insurance quotes on Rates.ca saved an average of $497* last year, while drivers in Alberta saved more than $400 on average.
*Savings number is calculated by deducting the lowest available quote from the 2nd lowest available quote to determine average savings for Ontario and Alberta separately, as well as Ontario and Alberta combined.
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Car insurance varies significantly between provinces. Saskatchewan, Manitoba and British Columbia are operated by the provincial government, while the rest of Canada offers insurance through private insurance companies (Quebec is the only province that uses a mix of both).
In each province and territory, there is a minimum level of auto insurance required. Basic coverage typically features a minimum of $200,000 in third-party liability, covering medical expenses and property damage caused by the insured. Quebec drivers need just $50,000 while Nova Scotia drivers need $500,000. Average rates also vary. According to the Insurance Bureau of Canada, British Columbia has the highest average auto insurance rate in Canada averaging $1,832 per year, with Ontario and Alberta following behind averaging $1,505 and $1,316 respectively.
|Province or Territory||Mandatory Minimum Liability||Mandatory Minimum Coverage||Average Premiums in 2018||Average Premiums in 2019|
|Alberta||Third party liability $200,000||Accident benefits||$1,251||$1,316|
|British Columbia||Third party liability $200,000||Accident benefits, Uninsured automobile protection||$1,680||$1,832|
|Manitoba||Third party liability $200,000||All perils (collision, comprehensive), Personal injury, Hit and run, Inverse liability protection||$1,080||$1,080*|
|New Brunswick||Third party liability $200,000||Accident benefits, Uninsured automobile protection, Direct Compensation – Property damage||$819||$867|
|Newfoundland & Labrador||Third party liability $200,000||Uninsured automobile protection||$1,132||$1,168|
|Northwest Territories||Third party liability $200,000||Property damage, personal injury||$978||N/A|
|Nova Scotia||Third party liability $500,000||Accident benefits, Uninsured automobile protection, Direct Compensation – Property damage||$842||$891|
|Nunavut||Third party liability $200,000||Property damage, Personal injury||$963||N/A|
|Ontario||Third party liability $200,000||Accident benefits, Direct Compensation – Property damage, Uninsured automobile protection||$1,445||$1,505|
|Prince Edward Island||Third party liability $200,000||Accident benefits, Uninsured automobile protection, Direct Compensation – Property damage||$796||$816|
|Quebec||Third party liability $50,000||Accident benefits, Property damage||$661*||$717|
|Saskatchewan||Third party liability $200,000||Property damage, Personal injury||$936*||$1,235|
|Yukon Territories||Third party liability $200,000||Property damage, Personal injury,||$812||N/A|
Average insurance premium numbers are according to data released by the Insurance Bureau of Canada press releases in July 2018 and August 2019 respectively.
* Previous year's average
All registered vehicles in Canada must have insurance, as required by law. If you own and drive a vehicle in Ontario, you are required to carry a minimum of $200,000 in Third-party Liability coverage, although in most cases that is not enough coverage. Vehicle owners in Ontario who do not carry valid auto insurance can be fined $5000 to $50,000. This can lead to also having your license suspended, vehicle impounded, and insurance companies could brand you as a high-risk driver.
Insurance companies take many factors into account when calculating your insurance rate.
Vehicle Type: The type of vehicle you drive impacts the premiums you pay. Different vehicles are associated with different risks including their likelihood to be stolen, how much they cost to repair, their safety rating and features, and claims experience for those vehicles. There is also some perceived behavioural risk associated with different vehicles.
Commute Distance: How much you drive will also affect your premiums which is why you are always asked to provide your approximate vehicle usage when filling out a form to obtain a car insurance rate. The more you drive the higher the chance that you could be involved in a motor vehicle accident.
Driving History: Individuals with a clean driving record would generally pay lower premiums relative to individuals with tickets and/or accidents on their record. Other factors such as the length of time you have been driving also matters.
Demographics: Where you live matters when calculating insurance premiums. Areas with higher occurrences of theft and collisions result in higher premiums. Your age can also come into play. Drivers who are 25 years old or older will generally pay less to insure a vehicle. This is based on data that shows that young, new drivers are not as experienced and are therefore more likely to be involved in a traffic collision.
Coverage Type: The larger the scope of the coverage and the higher the coverage limits you choose, the higher the premiums you will pay. The deductible, which is the portion that you must pay out of pocket as a result of a claim, is also important in the calculation of your insurance cost. The higher the deductible you choose the lower your monthly automobile insurance premiums will be.
Discounts: Most insurance companies will provide you with discounts if you meet certain criteria. Discounts can range from winter tire discounts to multi-vehicle discounts. Every insurance company treats discounts differently, so make sure to inquire in order to take advantage of reduced premiums
Rates.ca provides drivers in Ontario and Alberta with auto insurance quotes. Therefore, if you live in Toronto, Ottawa, Mississauga, London, Hamilton, Oshawa, Etobicoke, Kitchener, Windsor, Calgary, Edmonton, Red Deer, Lethbridge, or most other locations in the provinces of Ontario and Alberta we are able to offer you quick and easy car insurance quotes. Compare insurance rates today and start saving!
Rates.ca makes it easy for you to get an accurate auto insurance quote. You will be asked to provide basic information about yourself that will help insurance companies determine your premium. All we need is:
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A deductible is the amount of money you agree to pay before the insurance coverage kicks in, in the event of a claim. Your deductible will also determine your policy premium and can have an impact on your insurance rates. The higher the deductible, the lower your insurance premium will be, so if you happen to live in a relatively accident-free area, opting for a lower deductible might be a good idea. It is the decision of the driver, so make sure you make a wise and informed choice.
There are many ways to save hundreds of dollars on your car insurance simply by educating yourself! Here are some tips to help you bring down your insurance rates:
You do not have to wait until your renewal to save money. Shop around when you have made a major change in your life, and you could be eligible for savings.
Using Rates.ca is 100% free of charge. There are no hidden fees and no surprise add-ons at the last minute. Rates.ca is not a registered broker and makes money by referring you to brokers and financial institutions, providing objective and unbiased comparisons.
Rates.ca shops with up to 30 of the top insurance companies in Canada. These include Intact, Aviva, Wawanesa, Jevco, belairdirect, and Echelon, among many others. Rates.ca is not affiliated with a particular broker, insurance company, or financial institution.