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Mississauga is a dynamic city with seven major highways, including one of the busiest and widest freeways in the world. Yes, we’re talking about the 401. With so many drivers on the road, the likelihood of collisions and accidents increases, which is why Mississauga drivers sometimes pay the price when it comes to auto insurance. Find cheaper rates by comparing car insurance quotes from Mississauga’s best car insurance companies.
Mississauga drivers pay an average of $1,971 in annual premiums, according to the 2022 RATESDOTCA Auto Insuramap report. The provincial average is $1,505, according to the Insurance Bureau of Canada. This makes Mississauga the fifth most expensive city in Ontario for auto insurance.
Of course, these averages are not a one-size-fits-all rate. Your car insurance rate will depend on your unique circumstances, such as your driving record and claims history, but also on the claims history of the rest of the insurance pool. This is why comparing car insurance quotes is the best way to find better rates in Mississauga and beyond.
| Postal Code | 2020 Premium | 2021 Premium | Changes (%) |
|---|---|---|---|
| L4T0A1 | $2737 | $2410 | -11.95% |
| L4V0A1 | $2540 | $2410 | -5.12% |
| L4W0A1 | $2154 | $2227 | 3.39% |
| L4X0A1 | $2463 | $2410 | -2.15% |
| L4Y0A9 | $2154 | $1996 | -7.34% |
| L4Z0A1 | $2540 | $1944 | -23.46% |
| L5A0A1 | $2540 | $1996 | -21.42% |
| L5B0A1 | $2540 | $1889 | -25.63% |
| L5C0A1 | $2530 | $1996 | -21.11% |
| L5E0A1 | $2148 | $1979 | -7.87% |
| L5G0A1 | $2148 | $1979 | -7.87% |
| L5H0A1 | $2148 | $1378 | -35.85% |
| L5J0A1 | $2066 | $1378 | -33.30% |
| L5K0A1 | $2148 | $1526 | -28.96% |
| L5L0A1 | $2148 | $1526 | -28.96% |
| L5M0A1 | $2269 | $1526 | -32.75% |
| L5N0A1 | $2269 | $1526 | -32.75% |
| L5P1A2 | $2540 | $2410 | -5.12% |
| L5R0A1 | $2540 | $1944 | -23.46% |
| L5S0A1 | $2540 | $2222 | -12.52% |
| L5T0A1 | $2540 | $2410 | -5.12% |
| L5V0A1 | $2540 | $1996 | -21.42% |
| L5W0A1 | $2540 | $1996 | -21.42% |
| M7R0A2 | $2154 | $2227 | 3.39% |
Above average insurance premium numbers are according to data from RATESDOTCA Insuramap.
Getting a good price on car insurance doesn’t have to be complicated. Make sure you’re saving the most by understanding these common auto insurance questions.
Mississauga is Canada’s sixth largest city, and a busy one at that. Other than its proximity to the bustling Toronto, one of the main issues contributing to skyrocketing auto insurance premiums is the city’s growth in auto insurance fraud. According to the Insurance Bureau of Canada, auto insurance fraud costs Ontario drivers an estimated $1 billion a year. All that expensive premiums you’re paying? They go for the false claims perpetuated by fraudsters. You might be a good driver, but fraud increases rates for all of us. Where you live is one of the factors insurance companies take into consideration when determining your rates, so living in big cities usually means your car insurance comes with big city prices.
Here are some of things insurers take into consideration when determining your rates:
Other factors that influence car insurance rates are:
Each insurer calculates quotes in their own way, which is why rates can vary so much from provider to provider. This is also why it’s so important to compare rates to make sure you’re getting the best price.
Mississauga follows the same rules as the rest of Ontario. All drivers must carry at least $200,000 in third party liability coverage, accident benefits coverage, uninsured automobile coverage, and direct compensation-property damage coverage.
Ideally, it is recommended that drivers opt for more than the minimum amount to increase your protection (at least $1 million), but that is of course up to you. Here is a breakdown of mandatory and optional car insurance coverages for Mississauga drivers:
| 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 |
Straight talk: auto insurance is expensive. But here’s the silver lining: You may be eligible for one or more of the many car insurance discounts available. Check out some of the discounts that may be available to you:
Paying less for car insurance in Mississauga is easy. Before you let your insurance policy renew for another year, 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 Mississauga drivers who use RATESDOTCA to lower their car insurance bills today.
*Shoppers in Mississauga who obtained a quote on RATESDOTCA from January to December 2023 saved an average of $775 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.
**Represents the average saved by shoppers who obtained a Mississauga quote on RATESDOTCA and transacted via our contact centre between January and December 2021. 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.
Alexandra Bosanac has been a content manager for RATESDOTCA since 2021, specializing in auto insurance. She began covering auto insurance in 2017. Alexandra has a bachelor's degree in journalism from Toronto Metropolitan University. Before joining the RATESDOTCA editorial team, she reported for the Canadian Business, the Toronto Star, the National Post, and the CBC.
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