Ontario Car Insurance Rate Tracker
Find out which Ontario auto insurance companies had rate increases or decreases this quarter.
Ontario auto insurance rate changes
In Ontario, every insurance company must apply to the Financial Services Regulatory Authority of Ontario (FSRA) if they want to increase (or decrease) their rates. FSRA makes these rate changes publicly available and publishes them shortly after they're approved. We keep track of the approved changes to help you keep an eye on the latest Ontario auto insurance rate trends.
Compare approved rate changes
Easily view each company's approved rate changes with RATESDOTCA's Ontario Auto Insurance Rate Tracker. Select your preferred insurance companies to see the latest rate changes. If your insurance provider applied for a large increase, it may be a sign to start comparing car insurance quotes: a different insurance company could offer you a better deal on the same coverage.
Historical auto insurance rates change in Ontario (2018 2022)
| Quarter | Largest increase | Largest decrease | Overall market impact * |
| Q2 2023** | 15.0% | -10.5% | 1.8% |
| Q1 2023** | 12.6% | -0.8% | 0.8% |
| Q4 2022** | 10.4% | -1.8% | 1.0% |
| Q3 2022** | 5.0% | -2.2% | 0.5% |
| Q2 2022** | 12.1% | -0.7% | 0.1% |
| Q1 2022** | 4.0% | -0.8% | -0.1% |
| Q4 2021 | 4.7% | -7.5% | -0.3% |
| Q3 2021 | 1.0% | -5.0% | 0.0% |
| Q2 2021 | 0.0% | -0.1% | 0.0% |
| Q1 2021 | 5.0% | -5.0% | -0.1% |
| Q4 2020 | 2.0% | -2.2% | -0.2% |
| Q3 2020 | 5.0% | -0.1% | 0.8% |
| Q2 2020 | 6.3% | -0.6% | 1.5% |
| Q1 2020 | 11.1% | 0.0% | 2.0% |
| Q4 2019 | 15.5% | -1.2% | 1.8% |
| Q3 2019 | 20.0% | 0.0% | 2.0% |
| Q2 2019 | 34.9% | 0.0% | 3.0% |
| Q1 2019 | 16.8% | 0.0% | 2.9% |
| Q4 2018 | 14.6% | 0.0% | 1.7% |
| Q3 2018 | 9.6% | -0.7% | 1.2% |
| Q2 2018 | 9.4% | -1.3% | 2.4% |
| Q1 2018 | 10.0% | -12.7% | 1.0% |
*Based on renewal effective dates provided by FSRA.
**Overall market impact for 2022 and 2023 was calculated using 2021 market share data.
After seven consecutive quarters of little to no change, Ontario car insurance rates roared higher in the first quarter of 2023.
Ontario's insurance market is facing economic pressures from multiple fronts, which threaten to trigger further rate increases this year and beyond:
- The frequency of accidents has increased since the lifting of pandemic restrictions.
- Inflation is driving up the cost of repairs and liability.
- Vehicle theft is surging across Canada due to supply shortages.
Ontario car insurance rates were static during 2020 and 2021 as pandemic restrictions changed our collective driving habits. There were fewer collisions, drivers decreased their coverage, and insurance companies issued base rate reductions, pandemic discounts and rebates.
The reversal began in the spring of 2022 and has gained momentum since. The rate increases we're seeing now are likely just the beginning, as it takes time for insurance prices to catch up with inflation.
Save on Ontario auto insurance
Auto insurance rates change often, so how do you know if you're still getting the best deal? By comparing car insurance quotes upon renewal and at other key milestones (such as when you buy a new vehicle, or more to a different neighbourhood) you can make sure your rates remain competitive. Save money by comparing Ontario car insurance quotes today.
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