If you are not redirected within 30 seconds, please click here to continue.
Samedi: 10h – 16h HAE
If you are not redirected within 30 seconds, please click here to continue.
If you are not redirected within 30 seconds, please click here to continue.
We are now transferring you to LowestRates.ca to complete your quote.
Ontario Car Insurance Rate Decisions: October 2021
Table of Contents
The average price of car insurance in Ontario increased in October, but only by a fractional amount. The change amounted to an increase of just 0.003%, according to filings from the Financial Services Regulatory Authority of Ontario (FSRA), the provincial body in charge of regulating the price of car insurance.
Gore Mutual Insurance Company was the only company to apply for an October rate adjustment. Gore holds 1.43% of the Ontario auto insurance market, so its price changes did not have a significant impact on the provincial average.
| Insurance provider | Rate increase or decrease % | Market share | Effective renewal date |
|---|---|---|---|
| Gore Mutual Insurance Company | 0.23% | 1.43% | October 3, 2021 |
In September, only one insurance company adjusted its rates. Intact Insurance’s rate adjustment lowered the provincial average by 1.9%.
Pre-pandemic, the Ontario auto insurance market appeared to be one without a price ceiling. But the COVID-19 pandemic ushered in months of continuous rate decreases in the province, something few saw coming.
Profits for insurance companies are better than they’ve been in a while, and many insurance providers have shared the wealth with customers in the form of premium reductions and rebates.
But with many professionals now returning to in-person work and saddled with longer commutes, it’s possible that larger insurance premium increases are on the horizon.
Drivers and insurance companies alike are going through a transition period. Keep an eye on your insurance costs by comparing car insurance rates in Ontario from a number of different providers, especially if your policy is up for renewal soon. FSRA 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 by comparing rates from multiple insurance companies serving Ontario.
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 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.
Latest Auto Insurance Articles
The first rule of driving in Canada is to get insured. The second rule of driving in Canada? Stay insured.
Buying a car out of province requires extra effort, like vetting options, ensuring compliance with home regulations, and budgeting for travel, but it offers access to better deals, unique models, and a wider selection.
Collisions with wildlife can have an impact on your vehicle. But what about your insurance?
Not long ago, EVs seemed like a no-brainer—eco-friendly, cheaper to fuel, and rebate-backed. But our latest RATESDOTCA survey with Leger shows a shift: 32% have ruled buying an EV out entirely.
Before you purchase optional insurance for your rental car, check your credit card, as it may already offer coverage for rental cars. Here are our picks for the best credit cards for rental car insurance in Canada.
If you’re in Alberta, whether you’re a long-time resident or a recent arrival, here’s everything you need to know about getting your driver’s license.
If you’re thinking about buying a used car, there’s much to consider — including inflated prices.
Here is what you should do if an everyday road hazard or an unforeseen event triggered by poor weather or construction damages your vehicle.
Get money-saving tips in your inbox.
Stay on top of personal finance tips from our money experts!