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Cheap Richmond Hill Car Insurance Quotes

With RATESDOTCA, Richmond Hill drivers saved an average of $680* on their car insurance premiums.

Compare Richmond Hill car insurance quotes from top providers

CAA
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Economical
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Written By Joel Kranc

Contributing writer

Updated

Car insurance in Richmond Hill

Car insurance is mandatory in all provinces and territories in Canada, so if you plan to drive in Richmond Hill, Ontario, you will need to get it. Hopefully, it will also meet your budgetary and driving needs.

The Financial Services Regulatory Authority of Ontario (FSRA) was created to help protect consumers in Ontario when it comes to insurance and similar services. It replaced the Financial Services Commission of Ontario (FSCO) and the Deposit Insurance Corporation of Ontario (DICO). FSRA oversees insurance regulations in the province and has the power to approve or decline car insurance rate requests. As of March 2023, FSRA regulated or registered 290 insurance companies, 68,956 insurance agents, 6,838 corporate insurance agencies and 1,852 insurance adjusters.

Finding cheap insurance in Richmond Hill starts with knowing the players in the business. Here are the four major types of players:

  • An insurance broker. Is an independent person who partners with multiple insurance companies. A broker can offer choice in terms of products and help you secure the best rates from the choices offered.
  • An insurance agent. Is a person who sells insurance from one company. An agent may know their product well but can’t offer you other choices or price points.
  • A direct writer. A direct writer offers policies from a single insurance provider (or they may be the provider themselves). The agents that sell for a direct writer are limited in the options they can provide by the coverages that their company offers.
  • A quote comparison website. Sites like RATESDOTCA offer price comparisons from several top insurance companies in your area at once. It takes just a few minutes to input your data and receive the cheapest auto insurance quotes you can find. Best of all, it’s free to use.

Recent auto insurance quotes in Richmond Hill

Recent Auto Insurance Quote from RICHMOND HILL, ONTARIO
Female, Age 25
2017 NISSAN SENTRA 1.8 SL 4DR
July 12, 2024
Cheapest Quote
$ 536 / month
$6,436 / year
Average Quote
$ 756 / month
$9,072 / year
Savings
$ 220 / month
$2,636 / year
or
29.06 %
Recent Auto Insurance Quote from RICHMOND HILL, ONTARIO
Male, Age 34
2017 HYUNDAI SANTA FE SPORT 4DR 2WD
July 12, 2024
Cheapest Quote
$ 436 / month
$5,233 / year
Average Quote
$ 574 / month
$6,893 / year
Savings
$ 138 / month
$1,660 / year
or
24.08 %
Recent Auto Insurance Quote from RICHMOND HILL, ONTARIO
Male, Age 46
2021 MAZDA CX-9 GS-L 4DR AWD
July 11, 2024
Cheapest Quote
$ 453 / month
$5,433 / year
Average Quote
$ 703 / month
$8,435 / year
Savings
$ 250 / month
$3,002 / year
or
35.59 %
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 Richmond Hill car insurance quotes on RATESDOTCA

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Mandatory and optional auto insurance in Richmond Hill

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 Richmond Hill?

Car insurance in Richmond Hill ranks as the fourth most expensive in Ontario, according to the 2023 RATESDOTCA Insuramap data. The report shows that the average annual car insurance rate in Richmond Hill is $2,188 per year or about $183 per month. That’s 20% higher than the provincial average of $1,744 per year.

The cities that rank above Richmond Hill are Brampton, with an annual car insurance rate of $2,707, Toronto, at $2,325, and Mississauga, at $2,311.

Given Richmond Hill’s location, it makes sense that it ranks high on the auto insurance premium list. Richmond Hill, like Brampton and Mississauga, borders Toronto and has many commuters make their way into the city for work and other activities. It is a congested area that also has its own industrial and factory areas with people constantly on the road. Highway 404 runs through Richmond Hill as does Yonge Street. There are efforts underway to extend the Toronto subway system into Richmond Hill, which may ease congestion in future years, but until then, premiums will remain expensive.

How do Richmond Hill car insurance rates compare to nearby cities?

(how Richmond Hill compares to 6 other most expensive cities in Ontario)

Estimated annual premium in 2023 % difference compared to Richmond Hill

Brampton

$2,707

+23.7%

Toronto

$2,325

+6.2%

Mississauga

$2,311

+5.6%

Richmond Hill

$2,188

--

Vaughan

$2,158

-1.3%

Pickering

$1,955

-10.6%

Markham

$1,870

-14.5%

Ontario’s average car insurance premium

$1,744

-20.3%

Average insurance premium numbers are according to data from RATESDOTCA Insuramap (gathered in 2023).

Note: The rates above may not apply to you, as they are based on a specific profile. Be sure to learn more about our methodology.

Which companies offer car insurance quotes in Richmond Hill?

Company name Company type Phone number Address

Aaxel Insurance Brokers

Insurance broker

416-893-3186

10255 Yonge St, Richmond Hill, ON L4C 3B2

All-Risks Insurance Brokers

Insurance broker

416-893-3186

10255 Yonge St, Richmond Hill, ON L4C 3B2

ATS Insurance Inc.

Insurance agency

905-883-9602

346 Newkirk Rd, Richmond Hill, ON L4C 5H2

Billyard Insurance Group

Insurance broker

905-237-0808

104-30 East Beaver Creek Rd, Richmond Hill, ON L4B 1J2

Hagerty Canada

Insurance agency

1-877-922-9701

5 Via Renzo Dr, Richmond Hill, ON L4S 0J6

InsuranceHotline.com

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

RATESDOTCA

Quotes comparison

1-844-726-0907

225 King St W, Suite 1000, Toronto, ON, M5V 3M2

 

Pacific Insurance Broker Inc.

Insurance agency

416-494-1268

101-120 East Beaver Creek Rd, Richmond Hill, ON L4B 4V1

Scoop Insurance

Insurance broker

1-866-456-6620

22-300 Lincoln St, Welland, ON L3B 4N4

Factors that affect your Richmond Hill car insurance premiums

There are many factors that can affect your auto insurance premiums in Richmond Hill. Here are some of the biggest ones:

  1. Your driving record. Having a clean driving record can be the difference between expensive and cheap insurance premiums in Richmond Hill.

    It’s important to stay free of infractions, such as speeding, driving while intoxicated and driving without a license, as much as possible. Yes, it’s difficult to maintain a clean record, but it’s even more difficult to clean it once you’ve had an infraction. If you’re convicted under the Highway Traffic Act, the conviction will remain on your record for six years.

  2. Your insurance history. Most auto insurance companies in Richmond Hill use your past behaviour as a predictor of future behaviour. That’s why a claims-free past involving safe habits will help you secure cheaper auto insurance premiums going forward.

    Some drivers, like teens and those in their early 20s, have no history and will pay more for the risk factor they bring to the insurance company. Their best options are to build that history with as clean a record as possible, pay their premiums on time and be honest about the vehicle they are insuring.

  3. Your coverage. There is such a thing as ‘over-coverage.’ Be sure to only take out the insurance you need, plus what is required by the Ontario government.

    There are scenarios where it makes sense to take out more insurance, such as if your car is less than three years old and if repairs for it would be costly. Legal expenses and medical costs can be pricey too, so additional insurance may be a prudent way to go, if you want to save money in the long run.

  4. Your neighbourhood. Where you live will make a difference in your Richmond Hill car insurance premiums. A high-crime area can be a risk factor, and your insurance provider can charge you more for living in one. Areas that have high car accident claims will affect you in a similar fashion. To determine your premiums, your insurance provider will use your forward sortation area (FSA), which is indicated by the first three letters/digits of your postal code.

  5. Your commute. More time on the road means more chances for accidents or infractions. That’s why longer commutes will likely mean higher car insurance rates versus shorter, occasional ones.

Tips on how to get cheap car insurance in Richmond Hill

To mitigate some of the factors listed above and avoid paying an unnecessarily high insurance premium in Richmond Hill, or anywhere else, consider doing the following:

  • Compare quotes. Comparison shopping on RATESDOTCA can help you find the cheapest car insurance rates in minutes. You’ll receive quotes from more than 50 of the top providers in the area. All it takes is a few bits of information, at no cost at all.
  • Increase your deductible. By agreeing to increase your deductible, and thus, taking some of the risks and expenses away from your insurer, you can secure a cheaper premium.
  • Get the appropriate amount of coverage. Avoid over-coverage at all costs. If you have an older car, for example, that’s not worth repairing, then collision or comprehensive coverage may not be right for you.
  • On the other hand, purchasing more liability insurance and accident benefits is a good idea as opposed to only carrying the provincially mandated minimum. Talk to your insurance professional about the amount of coverage that’s right for you.
  • Drive less. It stands to reason that the less you drive, the less chance there is for accidents or claims. If possible, keep off the road, and you’ll reduce your insurance premiums.
  • Bundle home and auto insurance. Bundling home and auto coverage with the same insurance company can reduce your annual insurance costs by up to 15%.
  • Try telematics. Your insurance company can install a telematics device on your vehicle to monitor your driving behaviour. If you're able to demonstrate you're a safe driver, your insurance company will reward you with a reduced premium at renewal. The savings can be quite high – up to 25%, in some cases.

    Unfortunately, Ontario insurance providers can raise rates based on the analytics of your driving habits. So, make sure you are a consistently safe driver before allowing telematics to be installed on your car.
  • Pay for the year upfront. Paying premiums on a month-to-month basis incurs administrative costs for your insurance provider. Paying upfront will pass the cost savings down to you.
  • Apply for discounts. Many car insurance companies provide discounts for people belonging to alumni or professional associations. Ask your Richmond Hill car insurance provider if such a program exists.
  • Avoid additional drivers. Additional drivers on your policy means additional risks and costs. If possible, have them on their own policy or ask for them to chip in on your policy premiums.

Frequently asked questions about car insurance in Richmond Hill

Need more information on Richmond Hill car insurance? We got you covered.

Which company has the cheapest car insurance in Richmond Hill?

Car insurance varies from driver to driver. Because your circumstances are different from everyone else due to your specific driving history, location, commuting time and so on, your premiums will be different as well.

To find the cheapest car insurance premium for you, compare quotes on a site like RATESDOTCA, which aggregates quotes from more than 50 top insurance providers in Canada.

Can I get month-to-month car insurance in Richmond hill?

No. Month-to-month insurance coverage isn't available in Richmond Hill. However, select insurance companies offer policies that are six months long instead of the usual term of one year.

Drivers needing month-to-month coverage should consider other options, such as a pay-as-you-go policy, having another driver add you to their policy or purchasing a six-month plan.

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

It’s the same as an experienced driver. Talk to a broker or agent or compare quotes on RATESDOTCA.

Unlike agents, RATESDOTCA can compare quotes from more than 50 insurance providers in just three minutes. That way, you’ll find the coverage that meets your needs, accompanied by the cheapest rates in your area, for free.

Is ridesharing insurance available in Richmond Hill?

Ridesharing insurance is available throughout Ontario, including Richmond Hill, and all legal rideshare companies in the province offer insurance from their own providers.

Commercial insurance coverage applies from the moment you turn on the app. When you're not logged on, your personal insurance kicks in.

The FSRA maintains a list of all the recognized rideshare apps and the insurance companies that underwrite their driver policies. Here’s the list:

car mascot.png

We saved Richmond Hill drivers a total of $7,027,524 on car insurance last year.*

Sure, it's easy to stay with your current insurer and to let your policy renew automatically. But you could be leaving money on the table by not shopping around.

Take three minutes to see if another insurance company can offer you a better rate. RATESDOTCA compares more car insurance providers than anyone else, so you can be confident that you're finding the lowest price on car insurance.  As you can see, the savings add up.

Join the thousands of Richmond Hill drivers who use RATESDOTCA to lower their car insurance bills today.

*Shoppers in Richmond Hill who obtained a quote on RATESDOTCA from January to December 2023 saved an average of $680 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.

Joel Kranc ,
Writer

Joel Kranc is a freelance writer and content provider who has worked with RATESDOTCA since 2019. He holds an MA in political science from the University of Toronto and a film certificate from New York University.

He has been published in and worked for such companies as CNN, Rogers Media, Institutional Investor Magazine, The Globe and Mail, Infrastructure Investor, BenefitsPRO Magazine, Global Finance Magazine, With Intelligence, the CPP Investment Board, Hospitals of Ontario Pension Plan, and many more financial services and industry publications.

He is the author of "Retirement Planning in 8 Easy Steps," which, when released in 2015, was No. 11 on the Publisher's Weekly US Bestseller List for Business and Finance, beating out Mark Cuban's "How to Win at the Sport of Business."

Education
  • Master's of Political Science, University of Toronto
Featured in
  • Benefits Canada
  • Institutional Investor
  • Plan Sponsor Magazine
  • Global Finance Magazine
  • Infrastructure Investor
  • Private Equity Investor
  • The Globe and Mail
  • Fund Directions Newsletter
  • BenefitsPRO
  • HR Professional
  • Advisor's Edge
  • Institutional Investor
  • Employee Benefit Advisor
  • Investing in Infrastructure Magazine (i3)

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