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Updated Aug. 30, 2024
Etobicoke is one of six municipalities that amalgamated into the City of Toronto in 1998. Geographically, it is on the western side of the city and, despite its diverse population, is also highly industrialized. Etobicoke has several expressways, including Highways 427, 409, 401, the Queen Elizabeth Way (QEW) and Gardiner Expressway.
Insurance in Etobicoke works the same way it does in the rest of Ontario. The Financial Services Regulatory Authority of Ontario (FSRA) regulates it at the provincial level. FSRA's mandate is to ensure providers of insurance comply with Ontario's laws and offer fair prices for coverage. The province is also responsible for outlining what types of insurance are compulsory. The table below outlines the mandatory and optional coverages in Ontario.
| Insurance type | Mandatory coverage | Optional/Additional coverage |
|---|---|---|
| Third-Party Liability | $200,000 minimum. Provides coverage in the event of a lawsuit resulting from an accident where you are at fault. | Coverage can be increased to $500,000, $1 million, or $2 million, with up to $2 million limit. |
| Direct Compensation-Property Damage (DC-PD) | Covers damage to your car, or loss of use of your vehicle, if someone else is at fault. Must involve another insured vehicle. | For additional vehicle coverage including for when you are at-fault, consider collision coverage. |
| Uninsured Automobile Insurance | Provides up to $200,000 in coverage if you are injured or killed by an uninsured driver, or if your vehicle is damaged as a result of a hit-and-run by an unidentified, uninsured motorist. | Family Protection Coverage is an optional coverage that includes additional coverage of up to $1 million in the case of a hit-and-run by an uninsured motorist. |
| Statutory Accident Benefits | Provides coverage if you are injured in an accident, regardless of who is at fault. Covers medical expenses that aren’t covered by OHIP. Income Replacement Benefits: Basic weekly income replacement of 70% of your gross income up to $400/wk. Medical, Rehabilitation and Attendant Care Benefits: Up to $65,000 for serious injuries, and $1 million for catastrophic injuries. Caregiver Benefits: Up to $250 per week for the first dependent, and $50 per week for each dependent after that. Housekeeping and Home Maintenance Expenses: Maximum payout $100 per week. Death and Funeral Benefits: Up to $25,000 is provided to your spouse, $10,000 for each dependent, and up to $6,000 in funeral costs in the event you are killed in an automobile accident. |
Coverage limits can be increased. |
| Collision Coverage (Also Upset Coverage) | Optional | Covers the costs of repairing or replacing your vehicle following a collision with another vehicle, an object, or property. |
| Comprehensive Coverage | Optional | Covers damages caused by named perils identified under the Specified Perils coverage, as well as losses from other perils like falling or flying objects, theft, fire, hail, windstorms, missiles, and vandalism. |
| Specified Perils Coverage | Optional | Covers damages caused by named perils such as theft, attempted theft, explosions, natural disasters like fire, lightning, windstorm, hail, rising water, earthquakes, and also other perils specified in your policy. Specified perils do not cover damages due to vandalism, breakage of glass, etc. |
| All-Perils Coverage | Optional | Combines collision/upset and comprehensive coverage. Also provides additional protection if a household member or an employee steals your vehicle. |
| OPCF 20: Coverage for Transportation Replacement | Optional | Covers the cost of your transportation replacement and rental car insurance if you were to get into a car accident or if your vehicle is stolen. |
| OPCF 27: Liability for Damage to Non-Owned Automobile(s) | Optional | Covers if you damage a borrowed or rental vehicle. The coverage limit is usually around $25,000 to $50,000. |
| OPCF 39: Accident Waiver/Forgiveness | Optional | Protect your premium from rising when you have your first at-fault accident. |
| OPCF 43: Waiver of Depreciation | Optional | Protects you by removing your insurer's right to deduct depreciation from the value of your vehicle when settling a claim. This coverage is for new vehicles with fewer than 5,000 kilometres. |
| OPCF 44R: Family Protection Coverage | Optional | Protects you if you or a family member is injured, regardless of whether you or your family members are in the car when the accident occurs |
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Etobicoke is one of the most diversified areas in the Greater Toronto Area. Much of the area represents residential and industrialized sections resulting in a population density that is relatively high compared to other parts of Toronto. Etobicoke also has many of the GTA's expressways, including Highways 427, 401, 409, the Queen Elizabeth Way and Gardiner Expressway.
Etobicoke's average is close to the Toronto average. When isolated from Toronto, the average premium is $1,938 (the Toronto average is $1,953).
In 2021, the median premium for car insurance in Etobicoke was $1,652. In September 2022, the Financial Services Regulatory Authority approved a slate of auto insurance increases. Inflation and more drivers on the road following a two-year (pandemic-induced) hiatus contributed to the increases.
Because of the density and diversity of geographical areas of Etobicoke, this part of Toronto has a varied range of insurance costs for drivers, which in some cases are the highest in the province. Risks are higher in parts of Etobicoke, and it's reflected in the range of premiums seen in the chart below.
| Etobicoke forward sortation area (FSA) | Average 2021 premium |
|---|---|
| M8V | $1,684 |
| M8W | $1,684 |
| M8X | $1,684 |
| M8Y | $1,684 |
| M8Z | $1,684 |
| M9A | $2,037 |
| M9B | $1,684 |
| M9C | $2,227 |
| M9P | $2,037 |
| M9R | $2,037 |
| M9V | $2,405 |
| M9W | $2,405 |
| Rank | City | 2021 average premium |
|---|---|---|
| 1 | VAUGHAN | $2,179 |
| 2 | AJAX | $2,104 |
| 3 | RICHMOND HILL | $2,025 |
| 4 | BRAMPTON | $1,976 |
| 5 | MISSISSAUGA | $1,971 |
| 6 | PICKERING | $1,959 |
| 7 | TORONTO (including ETOBICOKE) | $1,953 |
| 8 | OSHAWA | $1,833 |
| 9 | WHITBY | $1,792 |
| 10 | NOBLETON | $1,766 |
Average insurance premiums in Ontario fluctuate as high as $2,179 in Vaughan, just outside of Toronto, to as low as $1,132 in Kingston, about three hours east of Toronto.
Etobicoke's average is on the lower end of the spectrum, according to data from RATESDOTCA's Insuramap. When isolated from Toronto, the average premium is $1,938 (the Toronto average is $1,953). Densely populated areas near or in the GTA, where commuting is in higher proportion, generally have higher average premiums. Risks are higher, there are more drivers, and rates are reflected in that. Car dependency is high in rural areas, but there is less congestion and lower insurance premiums as a result.
| Company name | Company type | Phone number | Address |
|---|---|---|---|
| AMG Insurance Brokers | Brokerage | 416-621-1819 | 604-555 Burnamthorpe Rd. Etobicoke, ON M9C 2Y3 |
| Billyard Insurance Group | Brokerage | 647-3557-8773 | 5409 Eglinton Ave. W Etobicoke, ON, M9C 5K6 |
| Coachman Insurance | Agency | 416-255-3417 | 10 Fourth Seasons Pl Etobicoke, ON, M9B 6H7 |
| Grey Rock Insurance | Agency | 416-239-2727 | 5401 Eglinton Ave. W Etobicoke, ON, M9C 5K6 |
| InsuranceHotline.com | Quotes comparison | 1-855-821-7312 | 360 Adelaide St W suite 100, Toronto, ON M5V 1R7 |
| LowestRates.ca | Quotes comparison | 1-855-487-6911 | 1910 Yonge St Suite 401, Toronto, ON M4S 3B2 |
| McKee Insurance Brokers | Brokerage | 416-622-3774 | 217-385 The West Mall Etobicoke, ON, M9C 1E7 |
| McLennan Group Insurance | Agency | 416-695-1010 | 401 The West Mall Etobicoke, ON, M9C 5P7 |
| RATESDOTCA | Quotes comparison | 1-844-726-0907 | 360 Adelaide St W suite 100, Toronto, ON M5V 1R7 |
| Scoop Insurance | Brokerage | 1-866-456-6620 | 300 Lincoln St unit 22, Welland, ON L3B 4N4 |
Get all your questions about Etobicoke car insurance answered here.
The best ways to find the cheapest car insurance in Etobicoke are by using sites like RATESDOTCA. Quotes comparison sites allow you to compare all the major car insurance providers all at once, making the experience of buying insurance quicker and more efficient.
The best car insurance companies in Etobicoke are the ones that give you the best options for your needs at the best rates. Comparison shopping using quote comparison sites and working with insurance professionals can help you decide. Each person's needs are different, so it's best to gather as much information as possible to make an informed choice that works for you.
The simple answer is no. Standard car insurance policies last for one year.
Some insurance companies offer policies that are six months long instead of the usual term of one year. Because those contracts are relatively hard to find, you may have to purchase a conventional policy and cancel it when you no longer need it. You'll be charged a fee for cancelling before your renewal period (usually a percentage of your annual premium).
As a new driver in Etobicoke looking for car insurance, it's best to start by comparison shopping on RATESDOTCA. Finding the best rates and the options that suit your needs is only a few clicks away.
It's also wise to enroll in driver education classes, which provide valuable lessons on driving and can help reduce insurance costs for new drivers. Many providers see lessons as a risk reducer for the new driver.
Consider adding yourself to another policy (parent or relative) to help reduce costs.
Yes, ride-sharing insurance is available throughout Ontario, including Etobicoke.
All legal rideshare companies in the province offer insurance to drivers.
Commercial insurance coverage applies from the moment you turn on the app. When you're not logged on, your personal insurance applies.
The Financial Services Regulatory Authority of Ontario maintains a list of all the recognized rideshare apps and the insurance companies that underwrite their driver policies:
Paying less for car insurance in Etobicoke is easier than you think.
Before you let your insurance policy renew for another year, take three minutes to see if another insurance company can offer you a better rate. Spoiler: there usually is.
RATESDOTCA compares more car insurance providers than anyone else, so you can be confident that you’re finding the lowest price on car insurance. As you can see, the savings add up.
Join the thousands of Etobicoke drivers who use RATESDOTCA to lower their car insurance bills today.
*Shoppers in Etobicoke who obtained a quote on RATESDOTCA from January to December 2023 saved an average of $820 per year. The average savings represents the difference between the shoppers’ average lowest quoted premium and the average of the second and third-lowest quoted premiums generated by RATESDOTCA.
**Represents the average saved by shoppers who obtained an Etobicoke quote on RATESDOTCA and transacted via our contact centre between January and December 2021. The average savings amount represents the difference between the shoppers’ average lowest quoted premium and the average of the second and third lowest quoted premiums generated by RATESDOTCA.
Joel Kranc is a freelance writer and content provider who has worked with RATESDOTCA since 2019. He holds an MA in political science from the University of Toronto and a film certificate from New York University.
He has been published in and worked for such companies as CNN, Rogers Media, Institutional Investor Magazine, The Globe and Mail, Infrastructure Investor, BenefitsPRO Magazine, Global Finance Magazine, With Intelligence, the CPP Investment Board, Hospitals of Ontario Pension Plan, and many more financial services and industry publications.
He is the author of "Retirement Planning in 8 Easy Steps," which, when released in 2015, was No. 11 on the Publisher's Weekly US Bestseller List for Business and Finance, beating out Mark Cuban's "How to Win at the Sport of Business."
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