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Ontario Car Insurance Rate Decisions: November 2021

Dec. 2, 2021
2 mins
Several lanes of traffic on a highway during dusk

Three car insurance companies lowered their prices in November, according to filings from the Financial Services Regulatory Authority of Ontario (FSRA), the provincial body in charge of regulating property and casualty insurance.

One insurance provider raised prices — Certas, which holds less than 1% of the Ontario market — by almost 5%. However, Ontario’s more dominant players slashed rates, some by almost 8%.

The impact of these changes amounted to a decrease of 0.6% in November on the average price of car insurance in the province. (Certas was excluded from our calculations since its market share data was unavailable.)

Insurance provider Rate increase or decrease % Market share Effective renewal date
Wawanesa Mutual Insurance Company -0.16% 3.87% November 1, 2021
Heartland Farm Mutual Inc. -5.6% 0.33% November 1, 2021
Certas Home and Auto Insurance Company 4.73% -- November 2, 2021
Allstate Insurance Company of Canada -7.46% 8.13% November 13, 2021

In October, only one insurance provider changed its rates: Gore Mutual, which increased prices by 1.43%.

The pre-COVID-19 Ontario auto insurance market saw years of continuous price increases. Twenty months into the pandemic, slight monthly fluctuations have been the norm.

However, on an individual basis, many drivers have seen their insurance premiums drop considerably. This is mainly due to pandemic rebates and drivers logging fewer kilometres or dropping coverages.

With no sign of lockdowns returning this winter, traffic is returning to normal levels — and auto insurance rates are likely to follow.

Keep an eye on your insurance costs by comparing car insurance rates in Ontario from several different providers, especially if your policy is up for renewal soon. In fact, FSRA itself recommends shopping around for car insurance before locking into a policy.

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.

Make sure you’re not overpaying for car insurance by comparing rates from multiple insurance companies serving Ontario.

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Don't waste time calling around for auto insurance

Use RATESDOTCA to shop around, and compare multiple quotes at the same time.

Alexandra Bosanac

Content Manager

Alexandra Bosanac is a content manager for RATESDOTCA, specializing in auto insurance. She has reported for Canadian Business, the Toronto Star, the National Post, and the CBC.

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