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Find Cheap Car Insurance in Peterborough

Peterborough drivers save an average of $477* on car insurance with RATESDOTCA.

Compare Peterborough car insurance quotes from top providers

CAA
Onlia
Pembridge
Economical
Travellers
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Written By Shivani Kaul

Content Manager

Updated

Car insurance in Peterborough, Ontario

Peterborough is a city on the Otonabee River in Ontario, about 125 kilometres northeast of Toronto. According to the 2021 Census, the population of the City of Peterborough was 83,651. The population of the Peterborough Census Metropolitan Area, which includes the surrounding Townships of Selwyn, Cavan Monaghan, Otonabee-South Monaghan, and Douro-Dummer, was 128,624 in 2021.

Located within a few hours' drive from Toronto and Ottawa, the Peterborough region boasts a delightful mix of urban and rural roads that cater to drivers' preferences. However, due to the city's reliance on cars, its residents typically cover more distance than those in more urban areas.

Your annual mileage is just one of the factors that can impact your car insurance costs, along with your driving history and vehicle specifics. To obtain the most favorable insurance rates, it's advisable to compare quotes and rates from various providers. RATESDOTCA can assist you in accomplishing this task.

Recent auto insurance quotes in Peterborough, Ont.

Recent Auto Insurance Quote from PETERBOROUGH, ONTARIO
Male, Age 21
2015 VOLKSWAGEN GOLF 2.0 TDI 4DR HATCHBACK
May 18, 2024
Cheapest Quote
$ 163 / month
$1,950 / year
Average Quote
$ 505 / month
$6,064 / year
Savings
$ 343 / month
$4,114 / year
or
67.84 %
Recent Auto Insurance Quote from PETERBOROUGH, ONTARIO
Female, Age 85
2023 HYUNDAI KONA ESSENTIAL 4DR 2WD
May 17, 2024
Cheapest Quote
$ 63 / month
$757 / year
Average Quote
$ 110 / month
$1,314 / year
Savings
$ 46 / month
$557 / year
or
42.39 %
Recent Auto Insurance Quote from PETERBOROUGH, ONTARIO
Female, Age 36
2020 GMC TERRAIN SLE 4DR 2WD
May 17, 2024
Cheapest Quote
$ 204 / month
$2,449 / year
Average Quote
$ 326 / month
$3,910 / year
Savings
$ 122 / month
$1,461 / year
or
37.37 %
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

How to get Peterborough car insurance quotes on RATESDOTCA

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Mandatory and optional auto insurance in Peterborough, Ont.

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. 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

How much does car insurance cost in Peterborough, Ont.?

The average Peterborough, Ont. car insurance in 2021 cost $1,351 per year or $112 per month, based on our current RATESDOTCA Insuramap data, which is $204 less than the Ontario provincial average of $1,555 a year. When we look at prices for the rest of Ontario, Peterborough is a cheaper city in terms of auto insurance for drivers compared with other bigger cities like Toronto, Vaughan, Brampton, Mississauga and Markham.

The low average cost of Peterborough car insurance is also linked to the likelihood of claims and crime rates in the city, which is why Peterborough drivers pay less than drivers who live in bigger towns.

Compare Peterborough car insurance with other major Ontario cities

Ontario City Average car insurance premium in 2021
Peterborough $1,351
Markham $1,744
King City $1,766
Schomberg $1,766
Orangeville $1,766
Nobleton $1,766
Whitby $1,792
Oshawa $1,833
Toronto $1,953
Pickering $1,959
Mississauga $1,971
Brampton $1,976
Richmond Hill $2,025
Ajax $2,104
Vaughan $2,179

Peterborough drivers paid average car insurance of $1,351 in 2021. However, it is way less compared to other bigger cities in the province like Vaughan and Toronto. Vaughan drivers paid an average premium of $2,179 per year in 2021, the highest in Ontario, compared with Toronto drivers who paid an average of $1,953 while Peterborough drivers paid $1,351 on an average annually.

About the data

We’ve organized the rates the same way insurance companies group their markets – by the first segment of the postal code (otherwise known as the Forward Sortation Area, or FSA), which in Ontario denotes a particular district.

If you are wondering how we have accumulated these numbers, be sure to learn about our methodology.

Which companies offer car insurance quotes in Peterborough?

Company name Company type Phone number Address
Allstate Insurance: Peterborough Agency Insurance Agency +17053042084 815 High St #8, Peterborough, ON K9J 8J9, Canada
Todd Spalding Desjardins Insurance Agent Insurance Agency +17057422573 1625 Sherbrooke St #2, Peterborough, ON K9K 0E6, Canada
McDougall Insurance & Financial - Peterborough Insurance Agency +17057428864 261 George St N, Peterborough, ON K9J 3G9, Canada
BrokerLink Insurance Agency +17057434211 201 George St N #201, Peterborough, ON K9J 3G7, Canada
Insurance Hotline Quotes comparison 1-855-821-7312 225 King St W, Suite 1000, Toronto, ON, M5V 3M2
LowestRates.ca  Quotes comparison 1-855-487-6911 401-1910 Yonge St, Toronto, ON M4S 3B2
Billyard Insurance Group - Peterborough Insurance Agency +17057401658 1600 Lansdowne St W, Unit #2, Peterborough, ON K9J 7C7, Canada
RATESDOTCA  Quotes comparison 1-844-726-0907 225 King St W, Suite 1000, Toronto, ON, M5V 3M2
Scoop Insurance Quotes comparison 1-866-456-6620 22-300 Lincoln St, Welland, ON L3B 4N4
Ontario Insurance Network Insurance Agency +17058761300 88 Lansdowne St, Peterborough, ON K9J 1Y1, Canada

Factors that affect your Peterborough car insurance premium

When it comes to Peterborough car insurance quotes, there are various factors that insurance providers take into account, resulting in differing rates between companies.

While factors such as multiple speeding tickets or being responsible for accidents can lead to increased premiums, there are also lesser-known variables that can impact your rates.

Here are some of the primary factors that insurance companies evaluate when determining car insurance rates in Peterborough:

  • 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 type: Driving a car decked out with aftermarket accessories, customized specifications, or luxury trim will also raise your insurance rates. These cars cost significantly more to repair or replace after an accident.
  • Daily commute: You may have noticed that insurance companies request your annual mileage. The more time you spend on the road, the more likely you are to get in an accident. This is why 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 individual driving history is a significant factor when determining your auto insurance rates. If your record includes any traffic violations or accidents, you'll likely face higher premiums until a certain period elapses, usually around six years. Accumulating frequent speeding tickets can also raise concerns among insurers. Although parking tickets themselves do not affect your insurance rates, having your driver's license suspended due to excessive unpaid tickets can result in increased premiums from your insurance provider.
  • Coverage type: Like all cities in Ontario, Peterborough 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 policy that includes secondary drivers will expand your vehicle's coverage, but it also means you'll pay more.
  • Bundle your insurance: Your insurance provider might also ask you to bundle your insurance policies, such as home and auto, as an easy way to reduce your premium from 5-15%.

Tips on how to get cheap car insurance in Peterborough

Looking to save money on your car insurance in Peterborough, Ontario? With the province's higher-than-average auto insurance costs, many drivers throughout Ontario, are seeking ways to reduce their premiums. Here are some tips to obtain the most affordable car insurance quote in Peterborough.

It's worth noting that car insurance rates in Peterborough are governed by the Financial Services Regulatory of Ontario (FSRA). Therefore, the process of obtaining the cheapest car insurance quote in Peterborough is like that of securing the most inexpensive car insurance in Ontario.

  • Increase your deductible: This refers to the amount you pay out of pocket before your insurance kicks in. By raising your deductible, you can potentially lower your premium.
  • Bundle your policies: Consider bundling your auto insurance with other insurance policies, such as homeowner's or renter's insurance, to receive a discount.
  • Drive less: By driving fewer miles each year, you may qualify for a lower insurance rate.
  • Consider telematics: Certain insurance companies offer telematics programs that track your driving habits. Safe driving habits could lead to a lower insurance rate.
  • Compare rates: Take the time to compare quotes from different insurance providers to find the best rate for you.
  • Drive a safer car: Certain cars have better safety features, and therefore, may lead to a lower insurance rate. You could save 5% on premium if you install winter tires for the season.
  • Take a driving course: Some insurance companies offer discounts for drivers who complete an approved defensive driving course.
  • Drop unnecessary coverage: Consider dropping certain coverage options that you may not need, such as roadside assistance or rental car coverage.
  • Avoid making small claims: If possible, avoid making small claims as it can lead to increased premiums in the long run.

Frequently asked questions about car insurance in Peterborough

Still have questions about auto insurance in Peterborough? Get them answered here.

Which company has the cheapest car insurance in Peterborough?

No one insurance company will guarantee offer you the cheapest rate. It is best to shop around and request for quotes based on your needs. At RATESDOTCA, we can help you sift through 50+ insurance providers and help find the cheapest rate possible for your auto insurance needs.

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

Not all insurance companies offer monthy auto insurance plans. It is best to ask an insurance broker or agent for a quote based on your insurance requirements. It's important to note that month-to-month car insurance may be more expensive than a traditional annual policy due to the increased administrative costs associated with frequent policy renewals. Additionally, you may be required to pay a down payment or a higher rate initially to start the policy.

If you are looking for short-term coverage, it's important to compare the cost and coverage of a month-to-month policy with that of an annual policy. In some cases, an annual policy may provide more comprehensive coverage and a lower overall cost, even if you don't need coverage for the full year.

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

As a new driver in Peterborough, you could face higher insurance rates due to lack of driving experience. The following steps could make the process easier for you:

  • Shop around: Contact multiple insurance providers to get quotes for car insurance. Consider working with an insurance broker who can help you compare options and find the best rate.
  • Research discounts: Many insurance companies offer discounts for new drivers, such as discounts for completing a driver's education course or maintaining good grades.
  • Consider a telematics program: Some insurance companies offer telematics programs that track your driving habits. If you are a safe driver, this could lead to a lower insurance rate.
  • Consider getting added to a family member’s policy: If you live with a family member who has car insurance, consider being added to their policy as an occasional driver. This may be a cheaper option than getting your own policy.
  • Choose a safe car: Some cars are safer than others, and certain models may be more expensive to insure. Consider choosing a safe and reliable car to help reduce insurance costs.
  • Pay attention to coverage options: Consider the amount of coverage you need and select options that fit your budget. Remember, the more coverage you have, the higher your premium will be.
  • Consider a higher deductible: A higher deductible can lower your premium, but remember that you'll need to pay the deductible amount out of pocket if you make a claim.

Is ridesharing insurance available in Peterborough?

In 2016, Ontario updated regulations under the Insurance Act to allow insurance companies to offer appropriate products for ridesharing companies. The update made it possible for companies to sell commercial fleet insurance that applies to vehicles hired online. After the update, the Financial Services Commission of Ontario approved specific insurance policies for ridesharing companies like Lyft and Uber. The province has also provided useful information to drivers and consumers about how Ontario auto insurance applies to ridesharing activities.

It is best to check about this policy with your Peterborough based insurance and understand if this is available to you.

Shop around and save on Peterborough car insurance today

You are only going to find the least expensive Peterborough car insurance — that also meets the specific coverage needs you are looking for — by comparing quotes from a variety of different insurance companies. Otherwise how else can you know if you are ultimately choosing the best possible premium?

Use RATESDOTCA to shop around and find the policy that is right for you. Get quotes from more than 50 of Canada’s top insurance companies today.

*Shoppers in Peterborough who obtained a quote on RATESDOTCA from January to December 2023 saved an average of $477 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.

Shivani Kaul

Shivani is a Content Manager at RATESDOTCA, focusing on mortgages. She is an experienced communication and marketing professional who specializes in content strategy and SEO optimization. Shivani ensures that our written materials meet the highest standards of quality and relevance.

She holds a Digital Marketing Management certificate from the University of Toronto, a Business Communications certificate from the University of British Columbia, a Master’s degree in Mass Communication from Symbiosis Institute of Media and Communications and a Bachelor's degree in English from the University of Delhi.

Shivani has previously worked as a deputy digital productions editor with PMNA-The Canadian Press, and as an editor with The Globe and Mail, Toronto Star, and the Investor's Digest of Canada. She has also worked in reputed news media groups in India and the Middle East.

Experience
  • Mortgage
  • Credit Cards
  • Real Estate
Education
  • University of Toronto
  • Symbiosis Institute of Media and Communications
  • University of Delhi

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