London car insurance rates are known for being lower than or on par with the provincial average of $1,634 per month. Why do Londoners pay less? Comparatively, there are fewer highways, fewer accidents, and safe driving conditions.
We help London drivers save on car insurance by comparing quotes from our large selection of insurance companies. Our insurance experts will guide you through the quote process. We'll make sure you get the insurance you need for the best rate. Expect great value without sacrificing your coverage. Get started online or contact us today for a quote to save car insurance in London.
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Get StartedLondon drivers follow the same car insurance rules as the rest of the province. Auto insurance is mandatory. You must carry a minimum of $200,000 in third-party liability coverage. A basic policy also includes accident benefits, direct compensation property damage (DCPD), and uninsured automobile coverage.
Most have more than the minimum required car insurance. You can add optional coverage, including:
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See all reviewsAlexis French
2023-11-30
Todd Allen, thank you for your support. Convenient, knowledgeable and quick. Explained all the details and was thorough to get our family the best coverage for less. Highly recommend to friends and family.
Oluwakayode Oladapo
2023-11-25
I had been worried about getting the right insurance policy for my car till I spoke with Evan Venditti at ThinkInsure. He spent quality time discussing all options available to me based on my situation. I didnt inform him I had previous quotes from other brokers so I knew what I was looking for but he talked me through everything, was very patient with me and ended up giving me the best price available in the market(I know this cos I had shopped around!). The signup and payment process was very seamless and he had everything sorted out for me in minutes! I would recommend ThinkInsure to anybody and do ask to speak to Evan if you call them!
Orin Monize
2023-11-09
I was shopping around for insurance for a while. I checked many different insurance brokers and companies and Think Insure was able to get me the absolute best rates. Todd Allen was my representative and he was amazing to deal with and made my process a painless process. Thank You very much Todd and Think Insurance 🙏🏽
We know saving on car insurance in London is a priority. In addition to working with us to get a quote, here are some effective ways London drivers can get lower car insurance:
The average cost of car insurance in London is approximately $1,400 annually. Most drivers are in the $1,300-$1,600 range to insure their vehicle. This is much less expensive than car insurance in Ontario and in other areas such as the GTA. The city has some of the lowest rates compared to other large cities in the province.
2020 data from the Insurance Bureau of Canada
Fluctuations in insurance rates occur frequently, as they are determined by insurers using collected data on claims, repair expenses, accidents, and various other factors. Your driving history and eligibility for additional discounts also play a role in the changes observed. In the case of London, costs decreased during the pandemic, but are on the rise once again.
| Year | Average annual premium |
|---|---|
| 2023 | $1,978 |
| 2022 | $1,924 |
| 2021 | $1,761 |
| 2020 | $2,143 |
| 2019 | $2,107 |
| Average rate (2019-23) | $1,983 |
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How much you pay for auto insurance is dependent on your driver classification. Factors like age, demographics, driver classification, and driving record are taken into account by insurance companies to set your premiums. To assess the influence of these factors on your payments, we analyzed our customer quote data. This is what we observed:
| Premium | Monthly | Difference | |
|---|---|---|---|
| Driver type | |||
| All drivers | $1,970 | $164 | 0 |
| Young drivers (25 and under) | $2,888 | $241 | 46.60% |
| Middle age (25 - 50) | $2,168 | $181 | 10.05% |
| Mature/senior drivers (50+) | $1,435 | $120 | -27.16% |
| High risk drivers | $5,892 | $491 | 199.09% |
| Demographics | |||
| Male | $2,016 | $168 | 2.34% |
| Female | $1,905 | $159 | -3.30% |
| Married | $1,683 | $140 | -14.57% |
| Single | $2,076 | $173 | 5.38% |
| Driving record | |||
| Clean driving record | $1,970 | $164 | 0 |
| 1 ticket with past 3 years | $2,294 | $191 | 16.45% |
| 1 accident in 3 years | $2,484 | $207 | 26.09% |
| 1 cancellation in 3 years | $2,431 | $203 | 23.40% |
| 1 suspension in 3 years | $2,459 | $205 | 24.82% |
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London typically has more expensive rates than other local cities nearby. This generally has to do with the fact that the city is much larger and has more traffic. See the differences here:
| City | Avg premium |
|---|---|
| St. Thomas | $2,005 |
| London | $1,970 |
| Chatham | $1,830 |
| Woodstock | $1,779 |
| Strathroy | $1,698 |
| Tillsonburg | $1,686 |
| Sarnia | $1,502 |
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The area you reside in within a city can have an influence on your insurance expenses. In London, the postal code can impact your premiums. Here is a breakdown of premiums by postal code:
| Area in City of London | Postal Codes | Avg Premium |
|---|---|---|
| East London | N5W | $1,801 |
| Carling | N5Y | $2,056 |
| Fanshawe, Stoneybrook, Northcrest, Uplands | N5X | $1,874 |
| North London | N6A | $1,992 |
| Central London | N6B | $1,300 |
| South London | N6C | $1,922 |
| London West | N6H | $2,226 |
| Byron | N6K | $2,407 |
***
Your car brand is a big factor to consider when comparing insurance premiums. Based on our consumer data, premiums can fluctuate by more than $1000. Here are rates by brand for Londoners:
| Vehicle brand | Premium | Monthly payment |
|---|---|---|
| Honda | $1,897 | $158 |
| Toyota | $1,876 | $156 |
| Ford | $2,258 | $188 |
| Hyundai | $1,728 | $144 |
| Kia | $2,176 | $181 |
| GMC | $1,527 | $127 |
| Chevrolet | $2,390 | $199 |
| RAM | $1,784 | $149 |
| Dodge | $1,784 | $149 |
| Jeep | $2,003 | $167 |
| Subaru | $1,424 | $119 |
| Mazda | $2,310 | $193 |
| Nissan | $2,303 | $192 |
| Volkswagen | $1,746 | $146 |
| Mercedes | $2,635 | $220 |
| BMW | $2,169 | $181 |
| Tesla | $2,326 | $194 |
| Audi | $3,064 | $255 |
| Lexus | $1,122 | $94 |
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Ready to save more on London car insurance? Compare quotes from Canada's top providers in just a couple of minutes.
Get startedDriving in London has its fair set of challenges. There is minimal highway access to get across the city. With railroad tracks running through the middle of the downtown, congestion during rush hour is common. Fender benders are common at busy intersections. This is even more reason for Londoners to compare quotes regularly and ensure they have adequate car insurance.
The following provides more information about roadways, top attractions, parking, and transportation in the city:
The city gets its fair share of different driving conditions. Almost half of the days during the year have some form of precipitation. Even so, Londoners need a good car insurance policy to always protect them. With constantly changing weather it is necessary to check the forecast before leaving the house. Be ready to experience a variety of road conditions.
Make sure you have the best car insurance for driving in London by comparing coverage options from multiple providers.
Avg. daily commute time
Avg. annual rainfall
Avg. annual snowfall
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Snow days per year
These London stats reveal that it is a vibrant city with a lot of traffic on the roads. This translates to a considerable amount of driving that occurs. This can lead to accidents and increased auto insurance rates in London.
Here is some important information that can affect auto insurance costs in London. Use these tips to drive safely :
Yes, London is cheaper than many other cities in the province. It’s also more expensive in some cases. London car insurance costs about $1,400 annually. This is cheap compared to the provincial average. However, rates can be higher or lower based on your specific situation. Compare car insurance quotes to see how much you can save.
The cost of car insurance premiums in London can be affected by many things. One of the biggest factors that can have a direct impact on your rates is your location. Your vehicle, driving history, drivers on your policy, theft, fraud, and more also matter.
These factors contribute to insurance companies arriving at different premiums. They are based on specific algorithms they use to determine rates. Policy costs can vary significantly between insurers for the same quote information.
They may increase, but they may not. There are many factors that affect London car insurance premiums. Some you can control and others you cannot. Focus on the factors you can control to get the lowest rate. This includes the car you drive, your driving record, and being diligent with comparing quotes.
No. Paying off your car loan will not reduce your auto insurance rates in London. But, when you own a vehicle outright, you have more options. This could help to reduce your premium.
You have access to a large selection of car insurance companies in London. Each insurer offers unique pricing, plans, and coverage. Therefore, it's important for you to find a company that offers a plan that meets your specific driving needs. This will be the best car insurance company for you.
ThinkInsure partners with the leading insurance companies in Canada. They include Aviva, CAA, Intact, Travelers, Wawanesa, Economical, Pembridge and so many more. You can get a quote from these providers anytime.
Sources
* Based on the difference between the average lowest premium and the overall average premium in London for estimates completed from January 1 to March 31, 2023, for drivers with a clean driving record.
** Estimated prices are based on data entered by drivers with a clean driving record living in Living on ThinkInsure.ca.
*** Estimated premiums are based on data entered by individuals on ThinkInsure.ca from 2019-2022.
**** Estimated premiums are based on data entered by people on ThinkInsure.ca from January 1, 2021, to October 1, 2022.
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