Find Cheap Car Insurance in Guelph

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Written By Alexandra Bosanac


Car insurance in Guelph

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.

Mandatory and optional car insurance in Guelph

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

Recent auto insurance quotes in Guelph

Recent Auto Insurance Quote from GUELPH, ONTARIO
Male, Age 28
July 15, 2024
Cheapest Quote
$ 150 / month
$1,794 / year
Average Quote
$ 241 / month
$2,886 / year
$ 91 / month
$1,092 / year
37.84 %
Recent Auto Insurance Quote from GUELPH, ONTARIO
Male, Age 24
2010 BMW 128i 2DR
July 15, 2024
Cheapest Quote
$ 185 / month
$2,223 / year
Average Quote
$ 246 / month
$2,957 / year
$ 61 / month
$734 / year
24.82 %
Recent Auto Insurance Quote from GUELPH, ONTARIO
Male, Age 25
July 15, 2024
Cheapest Quote
$ 88 / month
$1,052 / year
Average Quote
$ 131 / month
$1,568 / year
$ 43 / month
$516 / year
32.91 %
Auto insurance quotes are compared from CAA, Coachman Insurance Company, Echelon Insurance, Economical Insurance, Gore Mutual, Onlia Insurance, Pafco, Pembridge, SGI, Travelers, Zenith Insurance Company

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How much does car insurance cost in Guelph?

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

How does Guelph’s average car insurance rate compare to other cities in Ontario?

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

Which companies offer car insurance quotes in Guelph?

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

What factors affect your Guelph car insurance premium?

Many factors can increase or decrease your auto insurance costs, such as driving history, age, gender, and region. You can expect to pay a higher premium if you have received multiple speeding tickets or have been at fault for collisions. But there are also other factors most drivers aren't familiar with.

Here are some of the main factors that insurance companies consider when calculating car insurance rates in Guelph:

Neighbourhood: Your postal code can influence your car insurance rates. Insurance providers are risk assessors, so if drivers in your neighbourhood are more likely to file claims, your rates will reflect this. Differences in the rate of claims from one postal code to the next can be linked to driving behaviour and congestion in the area, crime rates, and other geographic differences.

Vehicle: Driving a car decked out with aftermarket accessories, customized specifications, or luxury trim will raise your insurance rates. These cars cost significantly more to repair or replace after an accident.

Annual mileage: You may have noticed that insurance companies request your daily commute distance. The more time you spend on the road, the more likely you are to get in an accident. Therefore, commuters tend to pay more for car insurance. From an auto insurance perspective, commuting by transit, walking, or cycling is a much better choice.

Driving history: Your personal driving record has an outsized impact in determining your car insurance premiums. If you have any convictions or accidents on your record, you'll pay more for insurance until enough time has passed (usually six years). Those pesky speeding tickets can raise a red flag if you have a pattern of accumulating them. While parking tickets will not increase your insurance rates, if your driver's licence gets suspended because of too many unpaid parking tickets, this can cause your insurance provider to increase your rates.

Insurance coverage: Like all cities in Ontario, Guelph has mandatory and optional auto insurance coverages. If you select coverages beyond the minimum requirement, you will pay more for that enhanced protection.

Discount eligibility: Your age, occupation, and alumni are all potential sources of discounts. You can always ask your insurance provider about the discounts you're eligible for to ensure you get the best rate.

Additional drivers: A secondary driver on your policy will expand your vehicle's coverage, but it also means you'll pay more.

Bundle your insurance: Your insurance provider might also suggest you bundle your insurance policies, such as home and auto, as an easy way to reduce your premium from 5-15%.

Frequently asked questions about Guelph car insurance

Here are the most common questions about car insurance in Guelph, Ontario.

Which company has the cheapest car insurance in Guelph?

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.

What are the best car insurance companies in Guelph?

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.

Can I get month-to-month car insurance in Guelph?

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.

How do I get car insurance as a new driver in Guelph?

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.

Is ride sharing insurance available in Guelph?

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 ,
Content Manager

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.

  • Car Insurance
  • Bachelor of Journalism, Toronto Metropolitan University
Featured in
  • Investigative researcher at CBC
  • Breaking news reporter at Toronto Star
  • General assignment reporter at National Post
  • Business and general assignment reporter at The Canadian Press
  • Writer at Canadian Business

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