Find Cheap Car Insurance in Stratford

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Car insurance in Stratford

Stratford is one of the province’s most scenic towns, filled with gardens and historic Victorian architecture. It's also home to the world-famous Stratford Festival, which performs Shakespearean plays.

Stratford has a population of 31,465 and is close to major population centers in southern Ontario, such as London and Kitchener-Waterloo. The latter helps Stratford residents to get to Toronto quickly, as both cities are connected to the GO Train network.

Still, with its small and spread-out population, most residents and visitors to the area use cars to get around, so it's important to know what coverages you'll need and how to get them.

Getting car insurance in Stratford can seem daunting at first, but understanding how insurance is priced and what coverages you can pick and choose can help alleviate any fear.

Below, we break down what you’ll need.

Mandatory and optional car insurance in Stratford

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.

Income Replacement Benefits: Basic weekly income replacement of 70% of your gross income up to $400/wk.

Medical, Rehabilitation and Attendant Care Benefits: Up to $65,000 for serious injuries, and $1 million for catastrophic injuries.

Caregiver Benefits: Up to $250 per week for the first dependent, and $50 per week for each dependent after that.

Housekeeping and Home Maintenance Expenses: Maximum payout $100 per week.

Death and Funeral Benefits: Up to $25,000 is provided to your spouse, $10,000 for each dependent, and up to $6,000 in funeral costs in the event you are killed in an automobile accident.

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

Recent auto insurance quotes in Stratford

Recent Auto Insurance Quote from STRATFORD, ONTARIO
Female, Age 65
September 29, 2023
Cheapest Quote
$ 86 / month
$1,033 / year
Average Quote
$ 176 / month
$2,113 / year
$ 90 / month
$1,080 / year
51.11 %
Recent Auto Insurance Quote from STRATFORD, ONTARIO
Male, Age 23
2016 CHRYSLER 200 S 4DR
September 29, 2023
Cheapest Quote
$ 359 / month
$4,313 / year
Average Quote
$ 488 / month
$5,850 / year
$ 128 / month
$1,537 / year
26.27 %
Recent Auto Insurance Quote from STRATFORD, ONTARIO
Male, Age 46
September 29, 2023
Cheapest Quote
$ 84 / month
$1,006 / year
Average Quote
$ 212 / month
$2,547 / year
$ 128 / month
$1,541 / year
60.50 %
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

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How much does car insurance cost in Stratford?

The average 2021 car insurance premium in Stratford was $1,402, according to RATESDOTCA's most recent data.

That’s about 10% less expensive than the average for Ontario, which is $1,555.

The range for Stratford residents in postal codes N4Z0A1 and N5A1Z1 is $1,378-$1,475.

Take a look at the breakdown of some postal codes in the city of Stratford below:

Stratford postal code Average 2021 car insurance premium
N4Z 0A1 $1,378.00
N5A 1B6 $1,447.00
N5A 1W8 $1,403.00
N5A 1Y5 $1,403.00
N5A 1Z1 $1,475.00

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

Compared to other Ontario cities, this is how the average Stratford premium looks:

Location 2021 % difference from 2021 average Stratford premium
Stratford $1,402
Vaughan $2,179 55%
Ajax $2,104 50%
Richmond Hill $2,025 44%
Brampton $1,976 41%
Mississauga $1,971 41%
Pickering $1,959 40%
Toronto $1,953 39%
Oshawa $1,833 31%
Ontario $1,555 11%

Which companies offer car insurance quotes in Stratford?

Insurance Companies Company Type Phone Address
Jerry Francis Desjardins Insurance Agent Insurance broker (519) 271-7175 186 Ontario St Unit A, Stratford, ON N5A 3H4
BrokerLink Direct writer (519) 271-1840 51 Albert St, Stratford, ON N5A 3K2
Corey Goebel Desjardins Insurance Agent Insurance broker (519) 305-4555 169 Erie St, Stratford, ON N5A 2M6
Co-operators - Peter Maranger & Associates Inc Insurance broker (519) 272-2667 204 Huron St, Stratford, ON N5A 5S8
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 1910 Yonge St., Suite 401, Toronto, ON M4S 3B2
RATESDOTCA Quotes comparison 1 (844) 726-0907 225 King St W, Suite 1000, Toronto, ON, M5V 3M2
Scoop Insurance Insurance brokers 1 (866) 456-6620 300 Lincoln St., Unit 22, Welland, ON L3B 4N4

What factors affect your Stratford car insurance premium?

Calculating insurance premiums is a complex endeavour for insurance companies. But it's important for you to understand how it's done so you can take steps to avoid negative factors and get the best premium possible. Below, we list some of the things that will affect your rate.

  • Claims history: Have you been in an accident before and filed an insurance claim? That may raise your premium. While some companies offer accident forgiveness for your first claim, the general rule of thumb is that anytime you make a claim, you flag to the insurance company that you're at an increased risk of making a claim in the future.
  • Driver profile: Insurance companies like safe drivers. If you have a clean driving history without any speeding tickets or accidents, your insurance rate will be lower than someone who's filed many claims.
  • Location: Insurance companies in Ontario price premiums based on postal codes. They look at how often claims happen in certain areas and assign higher rates to those in postal codes where more accidents, thefts, or claims happen. Keep that in mind when you're looking to move somewhere. Do multiple highways run through your neighbourhood? Do drivers tend to speed on the main thoroughfare? Is the neighbourhood known for car break-ins or thefts?
  • Vehicle type: Finally, consider the vehicle you drive. Luxury cars are naturally more expensive to repair when they get into an accident, so they're going to cost more to insure. Similarly, if your vehicle is popular among thieves, insurance companies are going to charge you a higher premium to compensate for that risk.

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).

Frequently asked questions about Stratford car insurance

Here is everything you need to know about Stratford car insurance.

Which company has the cheapest car insurance in Stratford?

Car insurance premiums are customized for each person and are based on several variables, including your driving history, car type, and how far you commute daily. Every car insurance company prices risk in its own way. So, while one insurance provider might categorize you as a risky driver based on its formula and offer you a higher premium, another company might deem you less risky and offer you a lower one. So, unfortunately, there is no easy answer to this question. The best thing you can do is to ensure that you compare insurance rates on a website like RATESDOTCA so you can quickly see who's willing to offer you the best rate.

What are the best car insurance companies in Stratford?

The best car insurance company is the one willing to offer you the best price combined with good service. We can’t simply name one company and suggest you go with them. Instead, you need to shop the market so you can see the best price being offered to you. A website like RATESDOTCA can help you see the lowest price available. Once you get a quote, you'll be connected with a broker or agent from that insurance company. This is a great time to ask questions and get a sense of their service level.

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

Most car insurance companies offer an annual premium, which can be paid upfront once a year or in monthly installments. Alternative forms of insurance include pay-as-you-go insurance, an emerging form of insurance (for instance, CAA offers this), or short-term car rental insurance.

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

Auto insurance is available for new drivers, whether you're recently licensed or whether you've moved here from another country. Remember that those with little or no driving history pay higher insurance premiums, as insurance providers view you as a higher risk than those with long, safe driving histories. Your insurance rate will typically decline as you build up your driving history, provided you maintain a clear record. One way to start building your insurance history, especially if you're a new, young driver, is to be listed as a secondary driver on the policy of a more experienced driver, such as a parent.

Is ride sharing insurance available in Stratford?

Yes, car insurance companies in Stratford offer ride-sharing insurance. However, this is a specialized product. You must inform your insurance provider if you're driving for a ride-share company. If your insurance company doesn't offer such coverage, compare rates online using a site like RATESDOTCA or work with an insurance broker to find a company that can cover you.

*Represents the average saved by shoppers who obtained a Stratford quote on RATESDOTCA and transacted via our contact centre between January and December 2022. 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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