Find Cheap Car Insurance in Stratford

Car insurance in Stratford, Ontario

Stratford, the home of the Stratford Festival and countless live theatre venues, is a major tourist destination for Canadians and people all over the world. Many people who live there work in the tourism industry. As residents, they are required by law to have car insurance. Driving without a license comes with many risks. You may receive a fine for the infraction ranging from $5,000 to $50,000, as well as a license suspension.

All Ontario cities operate under a no-fault insurance system, which means that drivers would report any claims with their own insurance company, even if the other driver was at fault. Stratford auto insurance is run through private businesses (not the government), meaning you purchase your policy from a licensed insurance broker, insurance agent or direct writer.

This year Stratford residents (and others around the province) could see an increase in auto insurance rates. The RATESDOTCA Auto Insurance Outlook for 2024 says that premiums grew by 6% from Dec 2022 to Dec 2023.

Also, because of persistent inflation (and issues such as high car thefts), the Financial Services Regulatory Authority of Canada approved rate increases for auto insurance companies in Ontario, which will be in effect this year. As a result, higher insurance rates in Stratford (and elsewhere) are likely.

How much does car insurance cost in Stratford?

Drivers in Stratford pay less for car insurance than the average Ontarian. The average premium in 2023 for Stratford drivers was $1,471 per year, which is 18.5% less than the Ontario average of $1,744 per year, according to data from RATESDOTCA insuramap.

Despite tourism inflows, Stratford remains a relatively small town with less congestion and accident risk than other bigger cities in the province. But auto insurance rates for Stratford can also depend on a variety of personal things such as:

• Driving history
• Age, gender and marital status
• Location
• Vehicle Make and Model

Stratford’s rate jumped 12% from 2021 to 2023.

Premium averages were estimated by running sample quotes for a 35-year-old male driver with no claims or driving convictions and who drives a four-door sedan.
 

How does Stratford’s average car insurance rate compare to other cities in Ontario?

Drivers in Stratford pay a relatively lower premium for auto insurance compared with other Ontario drivers. The average auto insurance rate for an Ontario driver is $1,744 per year.

The town has a relatively low crime rate (at 16% below the national average), is lower risk than many other parts of the province, and auto thefts, while not unfamiliar, occur at a lower rate than the provincial average. Here’s how Stratford compares with other cities in the province.

^{Source: RATESDOTCA Insuramap}

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 Stratford?

Tips to get cheap car insurance in Stratford

Being armed with knowledge is the best way to save money on car insurance. Below, we outline six tips that can help you save money. Remember, the more you can do, the more you can save, which can add up.

1) Bundle your home and auto policies: Do you own a home or rent an apartment? If you have insurance for your property, many insurance companies are willing to offer you a discount if you bundle your car insurance.

2) Compare: Don't just get a price from one company. It will rarely be the best price. Instead, use a comparison website like RATESDOTCA to find the best pricing quickly.

3) Buy a less expensive vehicle: The type of vehicle you buy affects your insurance rate. Stick to cheaper makes and models, and this can help you save money. Also, steer away from vehicles that tend to be stolen more, as this can raise your insurance premium.
 

4) Customize your policy: Take the time to review your policy and decide whether you should increase or decrease the amount of coverage you have. For instance, if your car is only worth $1,000, does it make sense to pay hundreds of dollars a year for collision coverage? It might not be the right coverage for you, especially if you also have a deductible.
 

5) Increase your deductible: A deductible is money you pay out of pocket for a claim before your insurance company's coverage kicks in. For instance, if your claim is worth $2,000 of damage to your car and you have a $500 deductible, you pay the first $500, and your provider pays the remaining $1,500. But are you willing or able to keep $1,000 in an emergency fund and commit to a higher deductible? Raising your deductible can lead to a lower annual premium, which can add to savings over time.
 

6) Install winter tires: Winter tires are a great investment to stay safe when temperatures drop. But did you know they can also save you money? Depending on your insurance provider, drivers in Stratford can get a discount of 5-15% when they install winter tires.

7) Telematics: Are you willing to let your insurance company monitor your driving? Downloading a telematics app can save you up to 30% on your car insurance, provided you're a safe driver who avoids speed or checking your phone while you drive (the app will monitor these behaviours).