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Recent Peterborough car insurance quotes

Shopper from PETERBOROUGH, ONTARIO
2006 FORD ESCAPE XLT 4DR 4WD October 03, 2022
$ 270
Per year
Cheapest Rate
$ 602
Per year
Average Rate
$ 332
or
55 %
in savings
Shopper from PETERBOROUGH, ONTARIO
2009 NISSAN SENTRA 2.0 SL 4DR October 03, 2022
$ 1,290
Per year
Cheapest Rate
$ 1,888
Per year
Average Rate
$ 598
or
32 %
in savings
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Written by Alexandra Bosanac

Why comparing quotes saves you money on your Peterborough car insurance policy

The city of Peterborough and its surrounding region offers drivers a charming blend of urban and rural roadways, less than two hours away from Toronto and only a few hours from Ottawa.

Peterborough is a car-dependent city, which means residents often clock many more kilometres than people living in urban centres.

The number of kilometres you drive each year is one of many factors that affects how expensive — or not — your car insurance might be. There’s also your driving record and vehicle details to consider. To truly save money on insurance premiums you need to shop around, comparing auto insurance quotes and rates from multiple providers, in order to make the best possible choice for you. RATESDOTCA helps you do just that.

How to reduce your Peterborough car insurance premium

The first and most important thing you as a Peterborough driver can do to reduce the cost of car insurance and find the least expensive option is to gather and compare rates from as many different Canadian brokers as possible. You can shop around anytime with RATESDOTCA.

Of course, the rates you are quoted by insurance companies are based on their perception of how risky you are to insure. The less risk they think you pose, the cheaper your rates. Here are a few good tactics you can employ to either reduce your risk profile or incentive brokers to give you a less expensive premium as a resident of Peterborough.

  • A growing number of drivers — in 2020, there was a 43% year-over-over increase — are opting to sign up for usage-based insurance (UBI), which uses telematics to track and report back your driving activity to the insurance company.
  • You can offer to increase your deductible in order to lower your insurance premium. But remember that you will be on the hook to pay more upfront for repair in future, should you ever need to make a claim.
  • Opt to purchase only bare-minimum coverage (i.e. only what’s legally required of you, without any extra protections such as collision or upset coverage).
  • Bundle your auto policy with other products, like insurance for your Peterborough home, in a single package from one insurance provider.
  • Invest in and install anti-theft technology or mechanisms in your vehicle to reduce the risk of it being stolen.

Frequently asked questions about Peterborough car insurance

How do insurance companies calculate rates for drivers in Peterborough?

The most common risk assessment criteria by which insurance companies will determine the rates they offer you include:

  • Whether your Peterborough residence is located in a more urban or rural part of the region (if your postal code is in a busier area, your auto insurance rate is likely to be higher)
  • Details about your car such as the manufacturer, model, year of production and safety features
  • An estimate of how often and where you tend to use your car
  • The driving record of not only you as the policy holder, but any other drivers in your household
  • Other personal factors such as your age, gender and level of driver’s licence

Which cars get the lowest car insurance premiums in Peterborough?

Some vehicles are certainly cheaper than others to insure (though that’s far from the only factor influencing the cost of your car insurance).

The Insurance Bureau of Canada gathers and publishes data that suggest which cars might cost you more or less to insure in Canada — and thus apply generally to Peterborough as well.

But these stats change annually, and an average estimate does not take into account all the specific details about you and your driving record that also affect your auto-insurance premiums.

Your best bet for low prices in Peterborough? Compare quotes with RATESDOTCA.

How can I score discounts on auto insurance in Peterborough?

The top strategy for finding Peterborough car insurance discounts is simple: shop around and compare policy quotes from multiple insurance providers. Only then will you know what options are available to you specifically.

Other key factors that play a role in how insurance companies calculate premiums — and potential discounts within the policy — include:

  • Age: Unfortunately you do not have much control over this, but know that younger drivers, especially those in their teens and early twenties are charged more for car insurance, while more mature drivers over 40 can likely look forward to a decline in cost.
  • Driving record: How many tickets, collisions and other driving infractions you have on record, from driving in Peterborough and elsewhere, will affect the cost of car insurance. So to earn discounts over time, practice safe driving methods such as not speeding or tailgating other vehicles.
  • Vehicle safety: If possible, decrease potential risk by investing in safety features or upgrades.
  • Location: Where you choose to live in Peterborough, be it an area with greater density like an urban centre versus a more rural setting will affect the cost of insurance, because residing/driving in urban neighbourhoods increases risk.
  • Coverage: Either drop optional coverage (such as collision) and/or increase your deductible to access additional car insurance discounts. Remember that this affords you less protection and higher costs to file an insurance claim, in the event of collision though.

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 Ontario who obtained a quote on RATESDOTCA and transacted via our contact centre from July to December 2021 saved an average amount of $772. The average savings amount represents the difference between the shoppers’ average lowest quoted premium and the average of the second and third lowest quoted premiums generated by RATESDOTCA.

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