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Ontario Car Insurance Rate Decisions: August 2021

Sept. 2, 2021
2 mins
A hand is seen gripping the steering wheel while the car sits in traffic

Three insurance companies raised the price of car insurance for new and renewing Ontario policyholders in August, causing the overall price of car insurance to rise.

Here are the changes that went into effect last month, according to the Financial Services Regulatory Authority of Ontario (FSRA):

Insurer Rate Increase or Decrease % Market share Effective Renewal Date
Aviva Insurance Company of Canada +0.15% 6.00% August 1, 2021
Scottish & York Insurance Co. Ltd. +0.4% 1.12% August 1, 2021
Traders General Insurance Company +0.73% 1.61% August 1, 2021

Because of the degree of market share Aviva, Scottish & York, and Traders currently own in Ontario, their August rate changes drove the overall price of car insurance in Ontario up by 0.025%.

Keep in mind, however, that these rate increases only affect drivers who have insurance from these providers. And even within that group, some drivers may see a larger increase than the percentages listed here, while some might not see a change at all. Individual insurance rates are calculated based on your personal driving and insurance histories, annual mileage, age and gender, and more.

In July, only one insurance provider raised rates for Ontario drivers. No new rate changes were implemented in June.

Despite the rate increases posted last month, the affordability of car insurance has improved in Ontario. Car insurance companies are more profitable during the pandemic. The volume of claims they’re paying out shrank thanks to an unprecedented number of drivers abandoning their daily commutes. In return, many insurance companies have passed along savings to consumers in the form of COVID-19 rebates.

See how your current insurance company compares to others with the RATESDOTCA Auto Insurance Rate Tracker. Select an insurance provider from the drop-down menu to see its latest approved rate change and the date it went into effect.

FSRA recommends shopping around for car insurance before locking into a policy. Make sure you’re not overpaying by comparing rates from multiple insurance companies serving Ontario.

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Alexandra Bosanac ,
Content Manager

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.

  • Car Insurance
  • Bachelor of Journalism, Toronto Metropolitan University
Featured in
  • Investigative researcher at CBC
  • Breaking news reporter at Toronto Star
  • General assignment reporter at National Post
  • Business and general assignment reporter at The Canadian Press
  • Writer at Canadian Business

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