Ontario Auto Insurance Costs:
The average cost of car insurance in Ontario is tough to calculate exactly, as everyone will pay a different amount. Unfortunately, Ontario tends to see the highest auto insurance rates of numerous different provinces, and this is likely a result of the large amount of traffic in the province and statistically higher instances of automobile collisions. All is not lost! Working with an insurance brokerage, like Sharp Insurance, is one of the best ways to get affordable rates – without sacrificing coverage.
The cost of insurance in Ontario depends on many factors. Each type of insurance is calculated differently and may vary between insurers. That’s why it’s important to get several Ontario insurance quotes to ensure you’re getting the best value.
Why is auto insurance different for everyone? Well, because not everyone has the same driving record, the same insurance history, drives the same car, or uses their car for the same reasons/drives the exact same distance. There’s a lot to it – but not to worry. You don’t need to become an expert in auto insurance to learn everything that there is about it. That’s why working with a broker, like our Ontario auto insurance brokers here at Sharp, can be a great help.
How much does auto insurance cost in Ontario?
If you drive a car in Ontario, you’ll pay, on average, [ $1,920 per year ].
However, there are some factors that impact your Ontario auto insurance costs:
- Your driving record
- The number of tickets you have and the ticket severity
- Your insurance and claims history
- How many years you’ve been insured consecutively
- How many claims you’ve made
- Your credit rating
- Your demographics
- Your vehicle’s make, model, and age
- Where you live
- How much do you drive your vehicle
- If you commute and if so, how far are Your insurance options including your loss settlement, policy limits, coverages, and deductible
These factors determine how “risky” you are to insure – or how likely it is that you’ll have an accident or make a claim. They also determine how much it will cost to repair or replace your vehicle.
Is Auto insurance expensive in Ontario?
Yes and no. British Columbia reigns in supreme for the highest insurance rates for auto insurance in all of Canada, but Ontario comes in at a close second. For one, it’s the most populous province, and two, although on a less happy note, it’s the province that seems the highest rates of fraud. Ontario also features pretty generous accident benefit laws, which have contributed to the high price.
However, unlike BC, buying auto insurance in Ontario presents you with more choice. You can take the time to compare companies – and you can do so with ease through Sharp Insurance!
How do you get cheaper car insurance in Ontario?
While there are many elements that go into your car insurance rate, we recommend following the below tips to get the best rates possible.
Tips to get cheap car insurance rates in Ontario:
- Bundle your insurance
- Raise your deductible
- Don’t submit a claim if you can afford to pay for it out of pocket
- Pay your bills on time – your credit rating impacts your rates
- Take an approved driver training course
- Install an approved security or loss prevention device
- Take alternative transportation for your commute
- Drive less
- Do your research when buying a vehicle – different vehicles cost different amounts to insure
- Driver Training Course
- Loss Prevention Devices
- Occupation or Professional Memberships
- Bundled Insurance
- Claims Free
Your broker will check for eligible discounts when you request an Ontario auto insurance quote or when you renew if something changes or new discounts become available.
In addition to checking for discounts, an insurance broker can also get you multiple car insurance quotes from Ontario’s many different insurance companies. This gets you the best coverage for the best price.
Keep your broker up-to-date with any changes that would impact your insurance rates.
Which car has the cheapest insurance?
It changes by year depending on theft rates and repair/replacement costs, but currently, the least expensive cars to insure in recent years have been the Subaru Crosstrek, the Jeep Wrangler Sport, and the Honda CR-V. This is due to their high safety ratings, low theft chance, and the fact that they are statistically less likely to be involved in an accident.