Find the cheapest car insurance quotes in Ontario

Ontario operates under a no-fault insurance system, which means drivers go through their own insurance company no matter who is at fault in an accident or incident.

In Ontario, insurance is regulated by the Financial Services Regulatory Authority of Ontario (FSRA), formerly known as the Financial Services Commission of Ontario (FSCO), an agency of the Ministry of Finance.

Insurance policies in Ontario are provided by private insurance companies who will look at your driving record, personal information, vehicle details, past convictions, and more before granting you coverage. This makes the market competitive, which is why Ontario drivers are encouraged to compare quotes before the purchase a policy.

Ontario auto insurance premiums average $1505 annually, or $125 monthly, according to the Insurance Bureau of Canada’s 2019 report.

That said, premiums can vary significantly depending on the vehicle you drive, your personal driving and insurance history, the length of your commute, and various other factors.

Ontario’s insurance marketplace is competitive. Premiums vary from one provider to another, which is why provincial regulators like the FSRA recommend comparing multiple quotes before you purchase a policy. It is the easiest way to ensure you are getting the best rate available.

Car insurance rates change over time. By shopping around, you can check to see if your current insurance provider is still the one that offers you the best rates. If not, it might be time to switch to a company that offers a better price.

Compare rates today to see if you could be getting a better Ontario car insurance quote.

On average, rural areas are less busy and considered less of a risk than busier municipalities, which means drivers in these regions pay less on average than city-based drivers. In Ontario, drivers in busy cities like Toronto and Brampton face some of the highest insurance rates, while drivers outside of the GTA typically pay less.

However, the number of claims in your neighbourhood, the number of vehicle thefts, and the incidences of insurance fraud in your area also come into play. This is why premiums not only vary by city but can vary by postal code as well.

Your postal code is only one aspect of your insurance rate, however. Your personal driving record and insurance history have a lot more to do with it.

The make and model of the vehicle you drive has a big impact on your rates. There are two major things insurance companies consider when it comes to your car: the vehicle’s safety rating, and the likelihood of it being stolen.

We took a look at some of the best-selling cars in Canada and compared quotes for an average 35-year-old driver without any convictions or tickets in ten cities across Ontario, including Ottawa and Toronto. We averaged the rates and found the cheapest vehicles to insure were the RAM 1500 and the Chevrolet Silverado, while the most expensive vehicles to insure were Honda Civics and Toyota Corolla.

Interesting to note, RAM pickups and the Chevrolet Silverado are among the safest vehicles on the road, according to the Insurance Institute for Highway Safety, which helps keep their rates low. Honda Civics frequently make annual lists of the most stolen vehicles in Canada, which is part of the reason they are more expensive to insure.

Here are some of the key factors that affect your Ontario car insurance premiums:

1. The car you drive: The make, model and the age of your vehicle will affect your premiums. Brand new cars, luxury cars and sports cars typically cost more to insure due to the cost of replacing and repairing parts.

2. Usage of the car: Your commute time, the average kilometers you drive in a day, and whether you use your vehicle for business or pleasure will affect your rates.

3. Your driving record: If you have tickets, accidents, or convictions on your record, this is almost guaranteed to raise your premiums.

4. Your postal code: Where you live in Ontario affects your rates. On average, city-based drivers pay more than rural drivers due to the high number of claims reported in the city and the increased likelihood of getting in an accident.

5. Additional coverages: If you add any optional coverages to your policy, your premiums will increase to account for this extra protection.

6. Discounts and benefits: Many insurance companies provide discounts for winter tires, bundling insurance products, insuring two or more cars under the same company, being part of a professional association, and so much more. Eligible discounts will lower your premiums.

Statutory Accident Benefits provides coverage if you are injured in an automobile accident, regardless of who is at fault. This helps cover the costs of medical expenses like physiotherapy and rehabilitation costs that aren’t covered by OHIP. This coverage is mandatory in Ontario and included in a standard auto insurance policy.

Here is a more detailed breakdown of what statutory accident benefits cover:

• Income Replacement Benefits: Weekly replacement of 70% of your gross income up to $400 per week
• Medical, Rehabilitation and Attendant Care Benefits: Up to $65,000 for serious injuries like sprains and broken bones, and $1 million for catastrophic injuries like loss of limb, paralysis, etc.
• Caregiver Benefits: Up to $250 per week for the first dependant, and $50 per week for each additional dependant, for catastrophic injuries
• Housekeeping and Home Maintenance Expenses: Maximum of up to $100 payout per week in the case of a catastrophic injury
• Death and Funeral Benefits: Up to $25,000 payout to the spouse, $10,000 for each of the dependents, and a maximum of $6,000 in funeral costs

There is additional protection that is available for you to purchase on top of the minimum Statutory Accident Benefits included in a basic policy. This includes:

• Income Replacement Benefits: Can be extended to $600, $800, or $1000 per week
• Medical, Rehabilitation and Attendant Care Benefits: Can be increased up to $1 million for serious injuries, and $2 million for catastrophic injuries
• Caregiver Benefits Expenses: can be increased to apply to any kind of injuries, not just catastrophic ones
• Housekeeping and Home Maintenance Expenses: can be increased to apply to any kind of injuries, not just catastrophic ones
• Death and Funeral Benefits: can be increased to $50,000 to the spouse, $20,000 to each dependant, $8,000 for funeral costs