Say hello to great savings
on car insurance!

Every dollar counts. Compare over 30 insurance providers in Canada and get the right car insurance quote to fit your budget!

Hello, Hustler!

We live in the era of never-ending college debt, a rising cost of living, a flourishing lifestyle of consumerism and, sadly, all-too-often stagnant pay. You need your macchiatos. You love your smoothie bowls. Saturday nights are meant for Hulu and Uber Eats. But you are also the ones bucking the trend, because you are hustlers. The super savers. You want to pay off those debts. You want to clear your student loans. You want to buy your home. You want to start a family. You also want to live the life you want to live (hello, retire early and rich?). You want to stop us right here and ask, “But what has insurance got to do with that?”

Do all the things you love. And see your savings come rolling in.

Whether you want to save up for that trip to France or to buy a one bed-plus-den condo in the city, you need to save money. It doesn’t mean you have to pinch pennies (RIP) and let go of the things that you have enjoyed doing. You can continue to do all of that and more while being smart about your finances. Just as you might shop around online to find the best deal before making a purchase, you can benefit from doing the same with your car insurance. When you compare car insurance quotes online, it can save you thousands of dollars every year. Live in the moment and save for your future.

Break up with your mama’s car insurance.

Does this sound familiar? You needed car insurance, so you asked your mom where to buy it. She referred you to her insurance company, and perhaps without much thought you took the plunge and signed on the dotted line. Now that you’re older (and wiser), it’s time to consider breaking up with your mama’s car insurance and finding the one that’s right for you and your bank account.

Does daily commute affect
your car insurance rates?

According to a census data by StatsCan, driving is by far Canada’s favourite way to get to work with four out of five Canadians driving to work. Based on data from Rates.ca, Canadian millennials average a 13.7 km daily work commute, with driving being a standard way of commuting to work.

If you don’t drive to work, taking public transit, riding your bike, or taking another form of transportation could save you money on your car insurance. Most insurance providers reward drivers who keep their mileage low. The less you drive, the less likely you are to have an accident. Imagine saving not just on parking and gas in the city, but also on your auto insurance!

Purchasing car insurance might be mandatory in Ontario, but overpaying for car insurance coverage you won’t use certainly isn’t! Whether you have recently purchased a new ride, or are a newly licensed driver, whether your insurance is soon up for renewal, you’ve switched up your commute, or your existing policy simply doesn’t spark joy anymore, it’s time to compare car insurance rates.

The 10 most popular cars in Ontario

According to quotes obtained by Rates.ca, the most popular vehicle makes for millennials (identified as those born between 1981 and 1996), are:

  1. 2019 Honda Civic EX
  2. 2016 Honda Civic LX
  3. 2019 Toyota Corolla SE
  4. 2019 Hyundai Elantra
  5. 2015 Honda Civic EX
  6. 2017 Honda Civic LX
  7. 2018 Honda Civic LX
  8. 2018 Mazda3 GS SKY
  9. 2018 Hyundai Elantra GL
  10. 2017 Hyundai Elantra GL

Interesting facts about Ontario car insurance quotes

Did you know?

  • Millennials save more on car insurance on average than boomers. Ontario drivers aged 23-38 who used Rates.ca saved an average of $509 on their annual premium, compared to older drivers who saved an average of $373
  • 3.5 per cent of millennial drivers claimed they received a ticket for the prohibited use of a hand-held device
  • About 10 per cent of millennials drive a leased car
  • When it comes to speeding, millennials seemed to have raced their way to the top with 72.6 per cent of drivers getting a ticket compared to 62.5 per cent of Gen-X drivers
  • Major tickets millennials held were for speeding, not stopping at a stop sign, improper turn, and other minor convictions

* Based on auto insurance quotes completed on Rates.ca through January to April, 2019

What Insurance Coverage is Mandatory in Ontario?

You are required to purchase a Standard Auto Insurance Policy if you own a vehicle in Ontario. But not all insurance policies are the same. Coverage options vary from policy to policy. The minimum requirement comes with the following auto insurance coverages:

Third-Party Liability Coverage

This protects you in the event you cause the death of someone else, injure someone or damage someone else’s property with your car and they make a claim against you. This pays the costs of settling the claims. Mandatory coverage requires you carry a minimum of $200,000 in third-party liability, though many drivers opt to increase this.

Accident Benefits Coverage

This covers rehabilitation, supplementary medical and caregiver expenses, and provides you with an income replacement benefit if you are injured in an accident, regardless of whose fault it was. Each province or territory has its rules on this coverage.

Direct Compensation - Property Damage (DC-PD) Coverage

This provides coverage for your vehicle, and its contents if you were not at fault for the accident. This applies if the accident took place in Ontario, there was at least another vehicle involved, and if at least one of the other vehicles is insured by a licensed insurance company in Ontario.

Uninsured Automobile

This protects you and your family in the event of a hit-and-run, or in an unfortunate damage/death caused by an accident due to the fault of an uninsured motorist.

Optional car insurance in Ontario

There are additional benefits* and protection based on your needs that you can add on to your mandatory coverage. The most commonly added optional coverage preferences are collision coverage and comprehensive coverage.

Collision or Upset – Collision coverage pays for the cost of repairing or replacing a vehicle following a collision with another vehicle or an object like a tree, a guardrail, or a property, or in an event of your vehicle rolling over. This is an optional coverage in all the provinces except Manitoba and Saskatchewan.

Comprehensive – Comprehensive coverage pays for any repairs or replacement on a vehicle for the damage caused by something other than a collision; like a theft, fire, windstorms, or vandalism. This coverage is also optional.

All Perils – All Perils coverage combines both Collision/Upset and Comprehensive coverages. Additionally, it also covers the theft of the vehicle by a household member or an employee.

Specified Perils – Specified Perils coverage is for losses caused by risks or perils specified in your policy such as: theft/attempted theft, fire, hail, windstorms, earthquakes, explosions, riot/civil disturbances, falling of an aircraft or its parts, damages during transport on land or water, etc. What Specified Perils doesn’t cover: Vandalism, breakage of glass, hitting an animal, etc.

No-fault insurance
Every province offers some degree of no-fault insurance. In a no-fault car insurance system, if a person is injured or if their car is damaged in a collision, the person deals directly with his or her own insurance company regardless of who is at fault.

*A deductible may apply to these additional coverages.

Tips for saving on
car insurance in Ontario

Saving doesn’t have to mean giving up on your bucket list dreams. Like many things in life, it’s a process that starts with the first step. When you compare car insurance quotes through Rates.ca, you get a plethora of options tailored to your unique lifestyle. Window-shopping for a new policy at least every year to compare plans and coverage is a great way to grab a good deal.

Here are just some of the other ways you can save on your car insurance premiums:

  1. Know about your car’s safety features
    Most insurance providers offer discounts if your vehicle has safety features, such as a blind spot detection, or approved anti-theft devices.
  2. Do your research before you buy a car
    Each vehicle make and model is rated based on safety features and the likelihood of theft. Auto insurance companies use the Canadian Loss Experience Automobile Rating (CLEAR) system to assess and rate vehicles, and reward drivers for buying cars that are safe, less expensive to repair, and low risk. Check out this list of Insurance Bureau of Canada's top 10 stolen vehicles.
  3. Embrace technology
    Telematics is used by many auto insurance companies. The device tracks your driving habits such as how fast you drive on the road, how many kilometers you drive every day, and how often you slam on those brakes. If you are a driver with a collision-free driving record, you could get lower insurance premiums by installing a telematics device in your vehicle.
  4. Drop collision coverage on an older vehicle
    If you have an older car, consider dropping collision coverage. In the event of even a minor casualty, the cost of repair can be more than what the car is worth. It doesn’t always make financial sense to carry this type of optional coverage.

Frequently Asked Questions About Car Insurance

To help you understand what you're buying, here are your answers to some of the most frequently asked car insurance questions.

Do I even need auto insurance?

Hold your horses! In Canada, there is no way you can drive your car, or even obtain a licence plate, without getting car insurance. It’s the law! It is mandatory, and if you drive without insurance you will incur hefty fines (for the first conviction it is a minimum of $5000 in Ontario and can go up to $50,000). Drivers without active insurance coverage could face charges including having your license suspended and your vehicle impounded. Instead of taking on the risks of going uninsured, shop around and compare insurance quotes, and ask for discounts that could save you money and a whole lot of legal trouble.

Is driving without car insurance illegal?

Yes, we cannot stress this enough. The proof of insurance card, which is the liability insurance card, called the pink slip, will be provided to you by your insurance provider when you take out your insurance policy. You need the pink slip to register your vehicle and obtain your licence plates. You need to have the pink slip to produce to police when asked anytime that you are on the road.

What decides my car insurance premiums?

There are a number of factors that determine your auto insurance premiums. Some of them are:

  • Where you live - A busy city means more likelihood of theft and accidents, and so higher the premiums
  • What car you drive - The make, model, year, and even value of your car is used to determine the vehicle’s risk factors. Insurance companies in Canada use the CLEAR system to rate vehicles
  • What you actually use your car for - Do you drive a lot to work? Do you drive long distances? All of these, and even whether you drive a lot to the U.S. from Canada, becomes important when it comes to deciding your premiums.

You can bring your premiums down by ensuring that you drive safe and remain collision free. Even an accredited driver training program can help get you discounts on your car insurance.

How often should I compare car insurance quotes?

Insurance providers regularly change their prices, and the only way to know if you can find a more competitive rate is to compare car insurance quotes online. Shopping around once a year upon renewal is ideal to find cheaper auto insurance, and to make sure you are not missing out on substantial savings. Having an eye on your policy will certainly help you in knowing whether you are newly eligible for discounts. You could be missing out on huge annual savings by not comparing insurance prices online to calculate your potential premiums.

What is a Deductible?

A deductible is the base amount that you agree to pay upfront in the event of a claim, before the insurance provider’s coverage kicks in. When you purchase a policy, you agree on paying an amount out of your pocket. A higher deductible generally would mean a lower insurance premium, so if you want to save on your car insurance, choosing a higher deductible is the way to do that.

Compare car insurance quotes with other top providers in Ontario

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Who else is covered by my car insurance policy?

A car insurance policy is connected to the car, not the driver. If you own multiple cars, you need a policy for each of them. Any licensed drivers in your household should be declared on your insurance application. Anyone who drives your car with your consent will remain covered by your vehicle’s insurance policy. In the case of an at-fault accident while driving your car, remember that your premium could be affected. If there is someone who drives your car frequently, you should add them into your policy.

But I am buying a new car!

Congrats on your new ride. If your question is about getting insurance, Canadian law states that anyone who drives a car must carry a basic car insurance with minimum coverage. The type of car you choose will affect your premiums, and it’s worth checking how insurance companies rate a car before your make that purchase. Most providers use CLEAR (Canadian Loss Experience Automobile Rating) system to identify and rate vehicles according to their safety features, cost of repair/replacement and likelihood of theft.

Are my rates higher because I have a ruby-red Civic Coupe and my friend drives a black Hyundai?

Firstly, the colour of your car is not a determining factor in calculating your insurance quotes. So, while it doesn’t matter if your car is ruby-red, the fact that you drive a Honda Civic Coupe could be one of the factors. It is one of the most expensive cars to insure. There are many ways you can bring your premiums down, including choosing a policy with a higher deductible. You should ask about other discounts that are offered to policyholders and see if you qualify for any.

You are tech savvy, but are you insurance savvy?

Let’s put it to the test! Go through these questions and think of your answers. Then click on the sign on the right to see the correct answer.

Will getting speeding tickets increase car insurance rates?

Yes, speeding tickets will increase your auto insurance premium. A speeding ticket will cause a dent in your driving history and will hurt your chances of getting cheap car insurance in Ontario. If you incur multiple speeding tickets, you are likely to be considered a high-risk driver by your insurance company.

Are items stolen from a vehicle covered by auto insurance?

Unfortunately, no! Any personal belongings (your phone, laptop, wallet, GPS devices) and other items stolen from your car are not covered by your auto insurance policy. However, they are likely protected under your home or tenant insurance policy. Take precautionary measures such as keeping your vehicle locked at all times and installing an anti-theft device.

True or False: Certain car models have higher insurance premiums than others.

True. Insurance companies do take into account the make and model of a car. If a particular make of car has statistically been proven less likely to be stolen, has better safety features, or is not costly to repair, the premiums will be less.

Does getting a parking ticket mean your insurance premiums will go up?

Not really. As long as you pay them on time and not add getting a parking ticket will not impact your insurance policy. They are not used to determine your rates.

Does parking space affect car insurance rates?

Yes. Where you park your car at night can have an impact on your insurance rates. If your vehicle is parked in a safe place like a garage, there is less risk of your vehicle being broken into or stolen, so this might be reflected in lower car insurance rates. Some insurance companies do offer private parking discounts for overnight parking, and that is exactly why you should shop around and compare car insurance quotes online!

FUN FACT: Did you know that 47.78 per cent of Rates.ca customers between 23 and 38 park their vehicle in a private garage, and about 24.29 per cent park in a private driveway? *

*As claimed by drivers who completed quotes on our site from Jan-April 2019.

6 things to remember when shopping for car insurance quotes

Keep these tips in mind before you pin down your car insurance quote:

1) Educate yourself – Understanding your policy, and what it covers will come in handy. Perhaps you no longer need a particular coverage, and so opting to remove it from your policy will surely bring down your rates.

2) Know what determines your premium – There are a lot of factors ranging from where you live, what model of car you drive, what you use your vehicle for, how clean your driving record is, to the coverage you choose.

3) Know what could reduce your premium – Opting for a higher deductible, reducing kilometers driven, taking high-risk drivers off your policy, installing anti-theft devices in your vehicle, buying a car that has a low CLEAR rating, are some of the many ways to lower your insurance premiums.

4) Review your insurance provider’s track records – Rates.ca has an array of leading insurance providers we work with and trust, so you can rest assured that you are in safe hands. We provide you quotes from over 30 of the top insurance providers to make it easy while shopping around for the cheapest insurance quotes.

5) Ask questions – Especially about discounts and benefits; most insurance companies offer discounts based on a number of factors and we recommend that you ask your insurance provider about what you may qualify for.

6) Bundle your policies to save – When you bring both your home insurance and car insurance together with the same provider, you are sure to save big on your policy.

Ready to shop for auto insurance? All it takes is a couple of minutes!

Recent Car Insurance Quotes

Recent Auto Insurance Quote from ETOBICOKE, ONTARIO
Male, Age 34
June 23, 2024
Cheapest Quote
$ 574 / month
$6,886 / year
Average Quote
$ 919 / month
$11,025 / year
$ 345 / month
$4,139 / year
37.54 %
Recent Auto Insurance Quote from TORONTO, ONTARIO
Male, Age 36
June 23, 2024
Cheapest Quote
$ 769 / month
$9,222 / year
Average Quote
$ 971 / month
$11,657 / year
$ 203 / month
$2,435 / year
20.89 %
Recent Auto Insurance Quote from NORTH YORK, ONTARIO
Male, Age 24
June 23, 2024
Cheapest Quote
$ 403 / month
$4,832 / year
Average Quote
$ 875 / month
$10,495 / year
$ 472 / month
$5,663 / year
53.96 %
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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