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Toronto is a busy city. With so many vehicles on the road, Toronto drivers are used to heavy traffic. One thing we can never get used to, however, is the higher car insurance rates that come with living in, or commuting to, the city. Insurance rates vary depending on a lot of factors. If you haven’t been comparing rates, you are probably not getting the cheaper rates you deserve.
It won’t make your commute faster but comparing rates will help you save. Our data shows that drivers from the city saved an average of $511 on their car insurance premiums after comparing rates on RATESDOTCA.
With savings like that, you could afford to park downtown!
Toronto consistently ranks in the top ten most expensive cities for auto insurance. The average Torontonian pays around $2,000 per year (around $166.67 per month), which is $495 more than the provincial average of $1505.
It doesn’t come as a surprise since Toronto is one of the most populous cities in Ontario. High premiums are also linked to the likelihood of claims, as well as crime rates in the city, which is why Toronto drivers pay more than drivers who live in smaller towns.
In Toronto, as in the rest of Ontario, drivers are required to hold a mandatory minimum car insurance policy that includes the following coverage: third-party liability, statutory accident benefits, direct compensation-property damage, and uninsured automobile. Optional coverage like collision and comprehensive can be purchased to include in your basic policy. You can learn more about these on our Ontario car insurance page.
Insurance companies base your rates on how likely you are to make a claim. Although your driving history is a major factor, high traffic volumes, collision numbers, and the cost of repairs also play a part.
Despite these factors, you can always find a better rate. Compare insurance rates today to get the best quote.
In 2019, the average annual savings for Toronto drivers who used RATESDOTCA was $511*. Some drivers saved thousands by comparing quotes with us. If we look at the whole of Ontario, drivers who used RATESDOTCA saved an average of $520 on their annual car insurance premiums.**
Our tool is free to use, and it only takes a few minutes to find the cheapest rate. If you complete the process and don’t like what you see, you are under no obligation to buy. RATESDOTCA does not take any payment information. That’s left to our insurance partners whom we connect you with directly.
Toronto drivers pay a lot for auto insurance, but you can help bring the average down. Get a personalized car insurance quote today and see how much you can save!
* Savings are calculated by deducting the lowest available quote from the second-lowest available quote. In 2019 the average savings for Toronto drivers were $510.63.
** Savings are calculated by deducting the lowest available quote from the second lowest available quote. In 2019 the average savings for Ontario drivers were $520.40.
You don’t need to wait until renewal time to shop around for rates. If you’re done paying big city premiums and want to find cheaper rates, the easiest way to switch to a better rate is to shop online and compare. Let’s take a look at what else you could do to get cheaper car insurance rates:
Everyone pays a different amount for car insurance, and insurance companies factor in a lot of details when they calculate your rate. Some are obvious; if you have received multiple speeding tickets or have been at fault for collisions, you would expect to pay a higher premium.
Here are some of the lesser-known aspects that insurance companies consider when calculating car insurance rates in Toronto:
Toronto is a busy place, and while sharing the road is not something you have to enjoy, it is something you have to be good at!
Watch out for streetcars
Never pass a streetcar when it is stopped. Streetcars stop at almost every downtown intersection to let passengers hop on and off. When they stop, all cars behind them must stop too.
It might seem obvious, but also don’t drive into streetcar tunnels! You will inconvenience thousands of people, you will be embarrassed, and quite possibly arrested. Take your time to ensure you understand Toronto’s transit signage.
Watch out for cyclists
There are lots of cyclists in downtown Toronto. Take great care when driving in the city, especially when turning right or opening your door, to ensure that there are no cyclists in your blind spot.
Don’t stop in bike lanes, and make sure you keep a one-metre (three feet) distance when passing cyclists in your car. It’s the law.
Toronto Mayor John Tory worked with the city to identify ten of Toronto’s most congested intersections. They are:
It is fair to say that driving during rush hour at any intersection, in any city, is probably a bit of a pain, but if you can adjust your route to avoid these Toronto hotspots you’ll save time (and perhaps keep the grey hairs at bay for a little longer).
We understand that it’s easy to stay with your current insurer and automatically renew it when it’s time. But there’s nothing wrong with checking out other rates. Compare quotes from more than 30 of Canada’s top insurance companies and find better rates today. You’re all about those savings, and we’re all about helping you find them.
*Shoppers in Ontario who obtained a quote on RATESDOTCA and transacted via our contact centre from August to December 2020 saved an average amount of $676. 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.