Find Cheap Car Insurance in St. Catharines

Car insurance in St. Catharines

St. Catharines is the largest city in Niagara Region, which means that you may need a car to get around and, by extension, car insurance. In Ontario, the fine for not carrying valid auto insurance – whether you drive, lease or own a car – ranges from $5,000 to $50,000. Your car may also get impounded, and your driver’s license suspended. In addition, insurers may consider you a “high-risk driver” and either charge you a lofty premium or refuse serving you altogether.

If you end up in a car accident without car insurance, things can get even worse. If at fault, you may get saddled with hefty medical, repair and other bills. And if the reverse is true, you may not be able to sue the at-fault driver for compensation. You also won’t be able to claim replacement or non-earner benefits.

The takeaway here is that not having car insurance is a very, very bad idea. So, purchase it for your own good. You can easily get a quote through one of the following:

• An insurance broker. Sells auto insurance on behalf of multiple providers.
• An insurance agent. Sells auto insurance from a single provider.
• A direct writer. Sells their own insurance.
• A quote comparison website. Lets visitors compare insurance quotes from several providers at once to secure the cheapest rate. An example of this is RATESDOTCA.

Who regulates car insurance in St. Catharines?

The Financial Services Regulatory Authority of Ontario (FSRAO). It makes sure that insurers obey all relevant legislative rules and deliver fair prices to all their customers. It also protects consumer rights and reviews consumer complaints to ensure no rules are broken.

How much does car insurance cost in St. Catharines?

The average auto insurance rate in St. Catharines is $1,327 per year, or roughly $111 per month, according to the RATESDOTCA Insuramap data (gathered in 2022). Given that average annual premiums in Ontario can be as high as $2,000 – or higher – this is a very good rate.

How much will St. Catharines car insurance cost in the future?

Auto insurance in St. Catharines will likely cost more than $1,327 per year on average. That’s because insurance rates, overall, are going up – back to what they used to be before the pandemic. Many insurers applied for rate increases in late 2022, which means that their clients are likely already paying higher rates. The rate increase in the first quarter of 2023 is predicted to be 5% and 7%-8% in the second quarter. Third and fourth quarters will experience similar increases.

Factors that affect your St. Catharines car insurance premium

There are multiple factors that can affect your car insurance premium. They include your demographics and similar statistics, all of which are compiled to determine how much of a risk you pose. The greater the risk, the higher the rate, and vice versa.

Here are some of the biggest factors:

• Where you live: You may have noticed that some cities are more expensive than others for car insurance. That’s no coincidence. Insurance providers look at things like traffic density and crime rates to determine how risky the area is for your vehicle. The more accidents and instances of theft and vandalism there are, the higher the rates for the city, or more accurately, district. Every district in Ontario – designated by the first three digits of a postal code – has its own unique risk factors. Luckily, St. Catharines is one of the safer cities.
• What you drive: Did you know that every vehicle – of every year, make and model – has its own Canadian Loss Experience Automobile Rating (CLEAR)? It’s based on how likely each car is to get stolen or end up in an accident. The higher the likelihood, the higher the insurance rates for it will be. So, if you’re currently shopping for a new car, take this into account.
• How you drive: If you have a spotty driving record – either due to accumulating too many traffic tickets or getting into too many accidents (and filing claims for them) – your premiums will be high. Once again, this is based on risk. Drivers who get ticketed for breaking rules are statistically more likely to get into a car accident. So, even if they have no accidents on their record, insurers will still see them as a risk and adjust their premiums accordingly.
• Your driving experience: The more experienced you are as a driver, the less likely you are to get into an accident and file a claim. This makes you less risky to insure, which means that your premiums will be lower. Unfortunately, experience doesn’t come with age – it only comes with practice. So, if you start driving at the age of 50, don’t expect the same rates as the more experienced drivers in the same age bracket.
• Your age: Though experience is important, age matters too, especially if you are under 25. Drivers in this age group – classified as ‘young drivers’ – are more likely to get into an accident and file a claim. In fact, the Traffic Injury Research Foundation has reported that over 700 young people die in car crashes every year in Canada, while 50,000 are injured. So, regardless of how safe you are as a young driver, your age will dictate your premium. That said, maintaining a clean driving record should eventually lead to lower rates.
• Your sex: According to the Insurance Institute for Highway Safety (IIHS), male drivers under 30 are more likely to speed, drive under the influence of substances and break rules than their female counterparts. This increases the statistical likelihood of every young male driver getting into an accident and filing a claim, which in turn leads to higher premiums. Fortunately, getting older makes this a non-factor.