We know drivers are tired of paying too much for Ontario car insurance. Finding cheap coverage doesn’t have to be difficult. ThinkInsure helps thousands of drivers find a better rate and save on their auto insurance coverage every month.
Having proper car insurance in Ontario is more important than ever. There are more than 13.5 million residents in Ontario and this number continues to grow. This means more drivers, more traffic congestion, and a greater chance for auto accidents on roadways.
So it's important to have an Ontario car insurance policy that provides the best coverage and protection. Then you can drive with confidence. We'll help you get the best coverage for your needs at the lowest price.
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Here are some important things to know about how car insurance works in Ontario :
Insurers use many factors to determine car insurance rates across Ontario. Here are some of the key factors that impact the cost of a car insurance quote :
All drivers are subject to auto insurance rules in Ontario. Insurance laws are regulated by the Financial Services Regulatory Authority of Ontario (FSRA). These rules are in place to help regulate drivers and insurers.
There are rules for :
All drivers should become familiar with the Ontario car insurance rules and laws. Breaking these rules could result in fines, loss of coverage, increased premiums, and even criminal charges.
Insurers can apply to have their Ontario car insurance rates increased which must be approved by the FSRA. This occurs because of changes in coverage offerings or expenses such as claims costs. Requests to increase rates must be reasonable. The FSRA can require insurers to lower rates when auto insurance system changes occur.
Ontario rates have increased for 9 consecutive quarters (Oct 1, 2017 to Dec, 31 2019). Here is a summary of insurance rate changes since 2014 :
|Quarter||Overall Rate Change|
Drivers meet the following eligibility rules and requirements to get auto insurance in Ontario :
The average cost of Ontario car insurance is $1,505 according to the Insurance Bureau of Canada (IBC). Car insurance rates are higher for drivers who live in large cities and urban areas. Rates tend to be cheaper in more rural areas and in Northern Ontario.
We understand that you want to get the cheapest car insurance rates. Here are some great tips to help you get the lowest rates and save on Ontario auto insurance :
Ontario car insurance policies have different levels of coverage. All drivers must have a minimum amount of coverage that is included in a standard policy. It may not be enough to fully cover costs of an accident, injuries, and lawsuits. Standard car insurance policies cover the repair/replacement of your vehicle, medical costs, and liability.
Get the auto insurance policy that meets your unique driving needs by adding optional coverage to customize your policy.
There are four types of mandatory coverage required by law to be included in your Ontario car insurance policy. This applies to vehicles leased, financed or owned by the driver.
All drivers must have a minimum of $200,000 in third party liability coverage. This coverage protects you in the event you cause damage or injure someone. You can increase your coverage amount for added protection.
Drivers get certain medical benefits and other expenses if injured or killed in an auto accident. You can purchase additional coverage for most accident benefits.
Here is the minimum coverage included in a standard auto insurance policy :
Learn more about what's covered under statutory accident benefits in Ontario.
This covers damage to your vehicle in accidents where you are not at fault. For this coverage to take effect, the accident must occur in Ontario and must involve another insured vehicle.
This provides coverage in the event of injury or death by an uninsured motorist. It also applies if you’re involved in a hit and run.
Ontario drivers can add extra coverage that is above the minimum coverage for third party liability and accident benefits. There are also different types of optional car coverage available for additional protection :
Comprehensive insurance coverage provides you with protection for vehicle damage by weather events, theft, vandalism, fire, earthquake, and falling objects.
Collision insurance coverage protects against damage from a collision by another car or object. This coverage applies to most types of accidents.
This protects against pre-defined risks named in your policy that can include theft, fire, wind, hail, water, and other types of damage. You have coverage for the perils listed in your policy only.
This coverage combines comprehensive and collision. You have coverage for all types of risk unless they are explicitly excluded in your policy.
Here are some of the common questions we get about car insurance in Ontario :
Auto insurance rates in Ontario are some of the highest in the country. British Columbia is the only province more expensive car insurance rates. One of the main reasons why it is so expensive is the prevalence of insurance fraud. This increases claims costs.
Other factors that impact car insurance rates include higher repair costs, more accidents, and increased average claims costs.
There are many auto insurance companies in Ontario. Their rates and the types of drivers they prefer vary significantly. Some companies prefer good drivers and other will accept drivers with some accidents or tickets. Some have good prices in cities while others do in rural areas.
Insurance companies also change their rates often based on claims experience and the factors they use to determine premiums for drivers.
So there is no single insurance company that is the best or cheapest. The best way to find that out is to compare quote from multiple providers.
Getting the cheapest car insurance in Ontario is unique to each driver. There are many factors that contribute to getting lower rates. Insurance deductibles, coverage limits for collision and comprehensive coverage impact how much you pay.
Other factors like your driving record, claims history, vehicle, and insurance discounts also affect your insurance premiums. Comparing quotes from multiple providers is the best way to get cheap insurance.
There are four main types of mandatory coverage in an Ontario car insurance policy :
Ontario drivers can also get optional types of coverage such as collision, comprehensive and all perils coverage for additional protection.
Ontario auto insurance rates continue to increase as vehicles become sophisticated and expensive. This means that they are more expensive to repair and insurance companies have noted increase repair costs.
Distracted driving and the use of cell phones while driving has increased the number of accidents in Ontario. This increases the amount of claims for repair costs and accident benefits that need to be paid out by insurers.
The Ontario Government has announced significant changes to the auto insurance system as part of the 2019 Ontario budget. The proposed changes seek to simplify the auto insurance system. The aim is to make it more competitive and reduce insurance costs for drivers.
The key areas of the plan are :
Read more about the proposed auto insurance changes in the 2019 Ontario budget.
No. Credit score checks are not required to get car insurance coverage in Ontario. They also have do not have any impact on the price of premiums.
All drivers are different. The safer you drive, the amount you drive and the times you drive can impact your Ontario car insurance rates. Why pay more if you don't need to? You could save up to 30% per year with usage based insurance.
Immediate discounts are available. Speak with us for more details and to get a quote.
Ontario is home to more people and drivers than any other province. There are more than 14 million people and more than 10 million registered drivers across the province.
Do you commute daily on the 401 or QEW? Spend your weekends driving in the country side or cottage country? Enjoy Niagara wine country? Or, do you love to head up north to explore the natural wonders of Northern Ontario? You need a good insurance policy.
Drivers need to understand driving and auto insurance in Ontario. Here are key stats and facts :
ThinkInsure car insurance experts are on your side. We work for you, not the insurers. We are an independently owned company so we’re unbiased. We can help you find the best rates and coverage for your needs.
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ThinkInsure is much more than a comparison site for auto insurance rates. Unlike other comparison sites, we do not sell your car insurance quote information.
We are licenced insurance advisors and want to help you with all your insurance needs. We'll simplify the car insurance process. We’ll work hard to help you with your insurance and save you money year after year.
Do you have a driver in your household who’s increasing your rates? You can remove them from coverage with the OPCF 28 or 28A excluded driver endorsement. Find out more.
Add the OPCF 44 Family Protection Coverage Endorsement to protect your family and yourself from being in an accident with an underinsured driver.