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Updated
Automobile owners in Guelph are required by law to have car insurance, just like any other town in Ontario. Auto insurance is regulated by the Financial Services Regulatory Authority of Ontario (FSRA), an arm of the Ministry of Finance. FSRA regulates Ontario auto insurance rates to ensure any changes proposed by an insurance company are reasonable (from consumers' point of view) but also allows insurers to cover their operating costs, future claims from consumers and their own profit.
Vehicle owners, lessees, and drivers who do not carry valid auto insurance can be subject to a hefty fine ranging from $5,000 to $50,000. If you are found driving without valid auto insurance, you can have your driver's licence suspended and your vehicle seized.
If you are convicted of driving without valid auto insurance, your insurance company may consider you a "high-risk" driver and charge you higher premiums or refuse to sell you insurance altogether. If you are injured in an accident while driving or occupying an uninsured vehicle, you may not be entitled to receive income replacement and non-earner benefits; and you may not be allowed to sue the at-fault driver for compensation.
Auto insurance providers can apply to increase or decrease their rates every quarter. In mid-2022, insurers began requesting rate increases due to inflation.
| 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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The city of Guelph, Ontario, has an average car premium of $1,391 per year, or monthly $116. This is below the Ontario average of $1,555 pre year. Auto insurance premium cost may range from $1,403 to $1,378 depending on which area of Guelph you live and drive.
| Guelph forward sortation area (FSA) | Average 2021 premium |
|---|---|
| N1C | $1,403 |
| N1E | $1,403 |
| N1G | $1,403 |
| N1H | $1,378 |
| N1K | $1,378 |
| N1L | $1,378 |
The average cost of car insurance in Guelph is significantly lower than in other Ontario cities like Toronto ($1,953), Ajax ($2,104), Vaughan ($2,179), Ottawa ($1,257), Oakville ($1,408), Brampton ($1,976), among others. Guelph’s average car premium of $1,391 is comparable with smaller Ontario cities like Kingsville, Hearst, Elliot Lake and Sault Ste. Marie.
| Rank | City | Average 2021 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 | $1,953 |
| 8 | Oshawa | $1,833 |
| 9 | Whitby | $1,792 |
| 10 | Nobleton, Schomberg, Orangeville, King City | $1,766 |
| 49 | Guelph | $1,391 |
| Insurance Company | Company Type | Phone | Address |
|---|---|---|---|
| Insurance Hotline | Quotes comparison | 1 (855) 821-7312 | 225 King St W, Suite 1000, Toronto, ON, M5V 3M2 |
| Allstate Insurance: Guelph Agency | Insurance Agency | 1-226-780-4552 | 160 Kortright Rd W #6, Guelph, ON N1G 4W2 |
| Jeffery & Spence Insurance Brokers | Insurance Brokerage | 1-519-822-0511 | 130 Paisley St, Guelph, ON N1H 2P1 |
| LowestRates.ca | Quotes comparison | 1 (855) 487-6911 | 1910 Yonge St. Suite 401, Toronto, ON M4S 3B2 |
| Billyard Insurance Group - Guelph | Insurance Brokerage | 1-226-780-0802 | 7-3 Watson Rd S, Guelph, ON N1L 1E3 |
| RATESDOTCA | Quotes comparison | 1 (844) 726-0907 | 225 King St W, Suite 1000, Toronto, ON, M5V 3M2 |
| BrokerLink | Insurance Agency | 1-519-836-6100 | 86 Woodlawn Rd W, Guelph, ON N1H 1B2 |
| Scoop Insurance | Insurance brokers | 1 (866) 456-6620 | 300 Lincoln St. Unit 22, Welland, ON L3B 4N4 |
Here are the most common questions about car insurance in Guelph, Ontario.
No company offers cheap, flat-rate insurance. Your premium depends on your driving history and other factors. Comparing rates before you choose an auto insurance policy can help you in the long run. RATESDOTCA provides the easiest and quickest way to compare premiums for cheap car insurance in Guelph. Vehicle owners or lessees should also talk to their existing provider about discounts. Discounts reward drivers for their experience on the road, driving history and needs, insurance policy bundles, and installing anti-theft devices, among other things.
RATESDOTCA provides the easiest and quickest way to compare premiums for cheap car insurance in Guelph. Check out the website for easy comparison and choose the best option available for you at the lowest cost possible.
Most car insurance companies don't provide month-to-month insurance. Some Ontario car insurance providers offer six-month coverage but are few and far between. In theory, you could opt for a 12-month policy and then cancel it before the end of the agreement, but the cancellation fees are costly. Endorsements exist that pause your coverage while a car is being stored. Usage-based insurance is another new product that might also work as an alternative if you're a low-mileage driver. Talk to an insurance professional about which of these products makes the most sense for you.
You can apply for automobile insurance with an insurance broker, direct writer or insurance company.
A new driver, irrespective of age, can save on hefty premiums by being certified by a government-approved driving school, maintaining a clean driver's record and practicing safe and responsible driving techniques.
If you've recently immigrated to Ontario, you cannot drive without proper licencing and insurance. You must trade your licence from the country you've emigrated from within 60 days for an Ontario driver's license. The provincial government recognizes licences from several countries as equivalent to an Ontario license, making your transition smoother and preventing you from going through Ontario's graduated licensing system.
Ask your old insurance company to provide a reference for your new Ontario insurer. Having proof of your insurance and driving history will go a long way to securing a lower car insurance rate.
Drivers in Ontario who use their personal vehicles to carry paying passengers or rent their car through carsharing must inform their auto insurance provider.
Your insurer may permit you to drive for a ridesharing company or rent your vehicle through a carsharing company and may provide additional coverage that is not available through the ridesharing or carsharing company's insurer.
Some insurance providers may charge you an additional fee for permission to use your vehicle for ridesharing or car-sharing activities. This fee may provide supplementary coverage to the company's fleet insurance policy.
However, insurers are not required to permit your vehicle to be used for ridesharing or car-sharing activities under your personal auto insurance policy. They may attempt to cancel or not renew your personal auto policy.
FSRA has approved auto insurance products for some of the popular ridesharing companies such as Lyft (policy provided by Aviva Insurance Company of Canada), Uber (policy provided by Economical Mutual Insurance Co.), Facedrive (policy provided by Northbridge General Insurance Corp.), among others.
*Shoppers in Guelph who obtained a quote on RATESDOTCA from January to December 2023 saved an average of $505 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.
Alexandra Bosanac has been a content manager for RATESDOTCA since 2021, specializing in auto insurance. She began covering auto insurance in 2017. Alexandra has a bachelor's degree in journalism from Toronto Metropolitan University. Before joining the RATESDOTCA editorial team, she reported for the Canadian Business, the Toronto Star, the National Post, and the CBC.
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