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Are you tired of paying too much for car insurance in Toronto? It is the largest city in Canada and there are over 6.4 million residents across its boroughs. It has the most drivers, traffic, longest commutes and a lot of highway driving. With so many vehicles on the roads, it increases the chance of accidents and claims. This leads to higher car insurance rates for Toronto drivers.

Compare quotes today to make sure you are getting the cheapest auto insurance in Toronto. You could save up to $500 or 25% on your auto insurance premium with ThinkInsure. Get quotes from the leading car insurance companies in Canada and find the most affordable coverage in Toronto!

Keep reading to learn about how car insurance works in Toronto. Find out some great ways to get better coverage and how Toronto drivers can find cheaper car insurance quotes.

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5 star car insurance in Toronto

Rated 4.7 out of 5 stars in 1273 Google reviews

We help thousands of Toronto customers get better quotes and savings on their auto insurance.

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Simon Mak

2023-02-23 02:13:38

Neil provided great broker service. Will definitely return to ThinkInsure.

Haile Baheta

2023-02-16 02:24:59

I have the pleasure to renew my Automobile Insurance with Kimberly Ladis of ThinkInsure . She was great in finding me the lowest price with a reputable company. She is kind ,efficent & professional. I will recommend her to everyone I know.

Shannon

2023-02-08 20:16:36

I had the pleasure of getting Evan V. as my broker. What set him apart from others I have spoken to was his knowledge. He answered all of my questions promptly and taught me about my specific insurance needs. He was very professional and kind. I felt better after speaking with him.

Caitlin MacFayden

2023-02-02 18:06:04

I had the pleasure of dealing with Neil. I was completely lost when looking for the type of car insurance I needed. Neil was extremley patient with me and walked me through everything.He was available at any time and had answers to all my questions. Thank you for this amazing experience!

tremari

2023-02-01 05:11:36

Pooyan Saeidi has a top-notch customer service skill, very fast service, prompt in answering your email. He will always call to check if you got what you want. He will give the best advice on all your insurance needs and explain in a layman’s term, very friendly and accommodating even if he has to explain for the nth times. 101% rating for his service quality.

Theresa

2023-01-28 05:28:47

I don't know where to begin but I'm so glad that I got Evan Venditti as my advisor. He earned my respect for choosing integrity over personal gain. While I went with a different firm, it was his suggestion that led me to saving hundreds of dollars on auto insurance. He explained that the companies they work with cater to a particular demographic I'm not exactly a part of. He's pretty well versed and insightful. He spoke on a level that I understood. I love that he gave me time to call a couple of other places first before proceeding with his quote. I called those places and went with one of them since I got a lower quote. With all the chaos that's going on in my personal life, this made me emotional. If somehow I took different steps that day and I didn't come across this guy, I'd be paying so much more on insurance. So although I'm not a client, just want to take this time to share this phenomenal experience!

Michelle Spencer

2023-01-19 16:21:03

Evan Venditti has been absolutely amazing and extremely helpful! Always following up to make sure that I am updated on any changes to my policy. He also made the process of obtaining a policy so easy! 10/10 recommend. Hopefully you will get the chance to work with him!

Jaden Moore

2023-01-10 20:04:35

Great customer service.! Quick and efficient. I worked with Denise Snider. She was great with getting me a cheap quote, she sent payment info, and paper work right away. Papers were signed within 24h and insurance was confirmed. I am a high risk driver, who can’t get insured anywhere else due to accumulation of tickets. 10/10 recommend!

How does car insurance work in Toronto?

Car insurance rules and regulations are set at the provincial level. Toronto follows the same rules as all other cities in Ontario. Here are the basics:

Car insurance is required for all drivers.
You must be a resident and have a valid Ontario drivers licence.
You must have a minimum amount of insurance. This includes third party liability, statutory accident benefits, DCPD, and uninsured automobile coverage. You can add additional insurance for collision, comprehensive, and more.
You obtain insurance through private insurers.
No-fault insurance applies so you submit all claims to your company.

Who regulates car insurance rates in Toronto?

Car insurance in Ontario is regulated by the Financial Services Regulatory Authority of Ontario. The FSRAO is an independent regulatory agency. They oversee close to 300 insurance companies in the province.

What is the minimum amount of car insurance required in Toronto?

All drivers must have at least $200,000 in third-party liability. While this is the minimum, the vast majority have significantly higher limits. This ensures they are protected in case of a claim. This is especially the case in highly populated regions like Toronto, where collisions are more common. Most have at least $1 million in liability.

What factors determine how much your Toronto car insurance will cost?

Car insurance companies use a lot of different factors to calculate your rates. Everyone pays a different premium based on these considerations. Here are the main factors companies use to calculate rates:

The type of vehicle you drive: Car, SUV, truck, hybrid, van, or compact.
Your personal profile: Age, gender, marital status and licence type.
Your address: Postal code, neighbourhood and region.
Your driving habits: Length of daily commute, how you use your vehicle and kilometres driven.
Coverage: Limits, endorsements, deductible amount and the number of drivers on the policy.
Experience behind the wheel: Years licenced, driving record, tickets, fines and licence suspensions.
Insurance history: Years insured and previous claims history.

What is the average cost of car insurance in Toronto?

To no one’s surprise, Toronto has some of the highest car insurance rates in the province. The average annual cost of car insurance premiums in Toronto is $2,071. This works out to about $172 per month. This is close to $500 more than the provincial average of $1,634.

Are Toronto auto insurance rates more than other cities in Ontario?

Toronto has higher auto insurance rates than most cities in the province. The city consistently ranks in the top 10 of the most expensive cities. Premiums cost about 138% of the provincial average.

Average Toronto car insurance rate compared to other Ontario cities info graphic

Recent Toronto auto insurance quotes

2023/03/21

Car insurance shopper in TORONTO, ON
Vehicle: mazda MAZDA3 SPORT GS 5DR 2013
CAA My Pace	$827
Wawanesa	$1,277
Intact	$1,403
SGI Canada	$1,425
Savings from the top 4 cheapest quotes	$598

2023/03/07

Car insurance shopper in TORONTO, ON
Vehicle: SUBARU IMPREZA 2.5i SE SPORT WAGON AWD 2007
CAA My Pace	$837
CAA Connect	$843
CAA	$889
SGI Canada	$1,401
Savings from the top 4 cheapest quotes	$564

2023/03/01

Car insurance shopper in TORONTO, ON
Vehicle: JEEP WRANGLER UNLIMITED SAHARA 4DR 4WD 2013
CAA My Pace	$951
Intact	$969
SGI Canada	$1,237
Economical	$1,262
Savings from the top 4 cheapest quotes	$311

2023/03/01

Car insurance shopper in TORONTO, ON
Vehicle: MITSUBISHI MIRAGE ES 5DR 2023
CAA My Pace	$1,072
Travelers	$2,313
Intact	$2,585
Chieftan	$2,772
Savings from the top 4 cheapest quotes	$1,700

2023/03/19

Car insurance shopper in TORONTO, ON
Vehicle: CHEVROLET SILVERADO 1500 LT REG CAB 2WD 2010
Wawanesa	$1,426
GORE	$1,697
Pembridge	$2,329
CAA Connect	$2,357
Savings from the top 4 cheapest quotes	$931

What are the cheapest areas in Toronto ON for auto insurance?

Auto insurance premiums are higher in the north end and they continue to climb. Toronto drivers, who traditionally pay more as it is, are really feeling the pinch. Yet some are feeling the squeeze more than others.

Depending on where you live in the city, you could be paying as much as $1,000 more than your fellow Torontonians.

Downtown

Scarborough

North York

York

East York

Etobicoke

What Toronto postal codes have the lowest car insurance?

Toronto car insurance rates can vary significantly by postal code, often by hundreds of dollars. The M6M postal code area (Del Ray, Keelesdale, Mount Dennis, Silverthorne) has the highest premiums. The M5K region in the downtown core, has the lowest premiums. Keep this in consideration if you are planning on moving.

Area	Postal Codes	Average Rate
Toronto	M6H	➜ Above
Toronto	M4Y, M5G, M5H, M5J, M5k, M5V, M4S, M4T, M4V, M4W, M5P	➜ Below
Etobicoke	M9V,M9L, M9M, M6L, M9R, M9W	➜ Above
North York	M4P, M4R, M5M, M5N, M4G, M4N	➜ Below
East York	M4B, M4C, M4E, M4G, M4H, M4J, M4K	➜ Below
York	M6M, M6E	➜ Above
Scarborough	M1J, M1B, M1X, M1K, M1S, M1T, M1V	➜ Above

Toronto auto insurance premiums differ for all neighbourhoods

You can explore auto insurance premiums for all neighbourhoods. Prices can vary quite a bit between companies so you'll get the most savings by comparing quotes.

Old Toronto: Notable neighbourhoods include the core, Harbourfront, The Beaches, Midtown, East Danforth, Yorkville, Casa Loma, Bloor West Village, Liberty Village
North York: Don Mills, Downsview, Hillcrest Village, North York Centre, Parkwoods, Uptown, York Mills
Scarborough: Cliffside, Eglinton East, Golden Mile, Morningside, Port Union, Scarborough City Centre, Steeles, Wexford
Etobicoke: Centennial Park, The Kingsway, Mimico, Rexdale, Islington City Centre West
York: Eglinton West, Oakwood-Vaughan, Old Mill, Weston
East York: Broadview, Pape Village, Danforth, Leaside, Woodbine Heights

Toronto car insurance FAQs

How do I get cheap monthly car insurance in Toronto?

If you want cheap rates, it’s important to compare Toronto car insurance frequently. Do this when your policy is up for renewal, you get a new vehicle or your driving status changes.

This will help ensure you are getting the lowest premiums.

Why is Toronto auto insurance so expensive?

Auto insurance premiums in Toronto are expensive compared to other cities in the province. Why?

Lots of drivers and accidents.
More tickets and violations.
An increased occurrence of auto theft.
Insurance fraud.

Each one of these factors contributes to increased costs. Insurance companies are constantly changing their rate calculations based on these factors. Get a quote often for and make sure you are getting the cheapest price.

Who has the cheapest auto insurance in Toronto?

There isn’t a specific insurance company that offers cheaper rates than the rest. It depends on your unique situation. You won’t know for sure who has the cheapest auto insurance in Toronto unless you compare quotes from multiple companies.

Why do Toronto auto insurance rates change so often?

Car insurance rates in Toronto change often for many different reasons. Car insurance companies have the ability to apply for rate increases on a quarterly basis. The FSRAO reviews the rate increase proposals and approves them. They assess current market conditions. Insurers request increases and they are approved because of:

The increased cost of claims
More collisions on GTA roads
The prevalence of fraud

They can also increase if something has changed with your driving situation. A ticket, accident, change of address, or even the loss of a discount could affect your premiums.

Is having car insurance mandatory to drive in Toronto?

Yes. All drivers in Toronto and across the province must have auto insurance in order to drive. The fines for driving without insurance are steep. They start at $5,000 and can go up to $25,000 for first-time offenders.

Does adding a G1 or G2 driver affect my Toronto car insurance cost?

Adding a G1 driver may not affect your insurance costs. They cannot be added as the primary driver and can only drive with a parent or experienced driver. If they use your vehicle you need to notify your insurer.

Once a G1 driver gets a G2 licence, you will see their rates increase. They can now drive solo. Young drivers are rated higher by insurance companies as they don't have much driving experience yet.

You can help offset the costs of adding a new or young driver by ensuring they complete driving school.

When should you check Toronto car insurance prices?

There are plenty of great opportunities to find cheaper car insurance:

If you move.
When you complete a drivers training program.
If you are buying a new vehicle.
When you are getting married.
If there is a change to your driving record.
You add new drivers or secondary drivers to your policy.
You qualify for new discounts.

Remember, you don’t need to wait until renewal time to shop around.

Tips to get the cheapest auto insurance in Toronto

Here are some helpful tips to help you get cheaper auto insurance in Toronto:

Shop and compare

There are lots of insurance companies in Canada and they change their prices often. Shopping around allows you to compare the latest quotes to see if you are overpaying. Get a quote today and see how much you can save.

Combine policies

Combine your home and auto insurance into a single policy. You will automatically qualify for savings of up to 20%. Combining is the best way to save.

Review annually

Renewal time is the perfect opportunity to look for new ways to save money. It is also a great time to update your information.

Take advantage of discounts

Things change, including the types of discounts you qualify for. Always ask about available discounts for additional savings.

Use winter tires

Winter driving can be challenging and dangerous. Improve safety, give yourself peace of mind and savings on auto premiums by simply using winter tires.

Complete driving school

Completing a ministry approved driver training program will help you obtain a better price. Make sure you tell your insurer this to save more.

Increase your deductible

If you can afford to do so, raise your deductible to lower your rates. The more you increase your deductible, the more you will lower your premiums.

Good driving behaviour

Save up to 30% when you use a telematics device to monitor your good driving habits.

Drive a safe vehicle

The type of vehicle you drive matters. Look for vehicles with a strong safety rating, and lower repair costs, and security features.

Don't miss payments

Missing a payment can affect your rates. If you consistently miss payments, your insurer could cancel your insurance.

Park in a private garage or driveway

If possible, park in a private garage or driveway. This makes your vehicle less likely to get stolen, damaged, or vandalized.

What types of Toronto auto insurance can I get with ThinkInsure?

ThinkInsure works with a large selection of insurance companies to offer drivers the most affordable rates for mandatory and optional car insurance coverage in Toronto. We know that most drivers require more than just the basic amount of mandatory coverage. We offer many types of optional auto insurance coverages that can be customized for for unique needs and enhanced protection.

We've got Toronto drivers covered for all types of car insurance coverage and driving needs. Speak with a ThinkInsure advisor today about getting personalized coverage that is tailored specifically for you.

Mandatory Toronto auto insurance

All drivers must have a minimum amount of mandatory auto insurance in Toronto. There are four main types of coverage included in your car insurance policy:

Third-party liability (TPL): Covers liability claims against you from an at-fault accident. Basic plans have $200,000 in TPL. Most drivers have $1 million or more in coverage.
Direct compensation property damage (DCPD): DCPD covers damage for accidents when you are not at-fault. For example, if you are waiting at a light and get rear-ended by another motorist.
Accident benefits: Accident benefits cover the driver and passengers if injured. Statutory accident benefits coverage ensures you receive medical care. It covers costs that are above what OHIP supplies. It also helps with costs for attendant care, rehabilitation, and lost income. Limits apply and can be increased.
Uninsured motorist: Also known as uninsured automobile coverage, this covers you if you are injured by an uninsured driver or in a hit and run.

Optional auto insurance in Toronto

We've also got all the additional protection you'll need including collision, comprehensive, and specified or all perils. With the heightened risks of such a busy city, most drivers get extra protection to ensure they're covered if anything happens. Here are the most common types of additional car insurance you can get in Toronto:

Collision insurance: You have protection if you are involved in an accident with another vehicle or an object (tree, street sign, light post).
Comprehensive insurance: This protects you from loss or damage from non-driving events. This includes theft, vandalism, fall objects, and damage from the weather (wind, hail, flooding).
All perils: This combines collision and comprehensive. You have protection for all perils unless they are specifically excluded.
Specified perils: You have protection for all the perils that are listed in your car insurance plan. Anything listed is covered.

Other types of coverage you can add to your policy include:

Emergency roadside assistance
Rental car coverage (OPCF 27)
Accident forgiveness (OPCF 39)
Waiver of depreciation (OPCF 43)
Other riders and endorsements

Adding optional coverage will affect your car insurance premium. Keep this in mind when customizing your insurance.

Car insurance companies in Toronto

A car insurance company doesn’t have to be in Toronto for you to get car insurance quotes. But it doesn’t hurt to have your insurer close by.

Some of the best insurance companies are not far from home for Toronto drivers. There are a lot of insurance companies that have their head office right here in Toronto. They include:

A big advantage ThinkInsure has over direct insurance companies is we can help you compare car insurance quotes from all the companies listed above and many more. Our Toronto car insurance experts will help you find the cheapest policy.

Driving in Toronto and auto insurance

Toronto is a very busy city with a lot of traffic, world-class sights to see and places to go. Driving and weather conditions can change quickly creating accidents and congestion. All of these things have a big impact on auto insurance. Greater risk means premiums are more expensive in the city for insured drivers.

Here is some great information about the city and driving in it.

Major highways

401, 404, 407
QEW
Don Valley Parkway
Gardiner Expressway

Public transit

TTC (Subway, Bus, Streetcar)
Metrolinx GO Transit

Toll roads

407 ETR

Ride-sharing

Uber
Lyft

Road trips

Niagara Falls, Niagara On The Lake
Muskoka cottage country
Bruce Peninsula National Park
Blue Mountain

Parking

City of Toronto Parking
Green P
Impark
Private lots

Top attractions

CN Tower
Royal Ontario Museum (ROM)
Art Gallery of Ontario (AGO))
Ripley's Aquarium Of Canada
Toronto Islands

Busiest intersections

Eglinton Ave West and Martin Grove Road
Lawrence Ave West and Black Creek Drive
St. Clair Ave East and Mount Pleasant Ave
Finch Ave and Yonge Street
Sheppard Ave and Yonge Street

Airports

Pearson International Airport
Billy Bishop Toronto City Airport

Car insurance and Toronto driving conditions

Driving conditions in Toronto are similar to auto insurance in the sense they vary greatly. Things can change at a moment's notice throughout the year in the city. From hot sunny days to frigid snow-filled roads, you never know what you can expect. Car insurance helps to manage the unexpected. So does checking the forecast and road conditions to be prepared for your daily drive.

96 mins

Avg. daily commute time

714 mm

Avg. annual rainfall

121 cm

Avg. annual snowfall

114

Rainy days per year

Heat warnings in 2019

Snow days per year

Toronto traffic has an effect on auto insurance

Traffic in the city is unlike anywhere else in Ontario. All of the province’s major highways pass through the region. Here is some important traffic information that can affect your auto premiums:

Toronto traffic infographic and driving stats

Population of 6.4M: The Greater Toronto Area (GTA) is home to some 6.4 million people. This includes the city center and in the four municipalities of Durham, York, Peel and Halton. The city itself has 9,250 different streets, 160 street intersections and 2,231 traffic control signals over 5,617 km of road.
2.5M daily commuters drive: The GTA is the largest CMA (Census Metropolitan Area) in Canada. Canadian automobile ownership averages 86 percent. Not all of the 2.5 million daily commuters drive. But most do.
Most vehicles don’t have passengers: Two out of three trips into and out of the city are by single-occupant vehicles.
Busiest highway in North America: The segment of Highway 401 that passes through Toronto is the busiest highway in North America. It's also one of the widest and busiest in the world. AADT (Average Annual Daily Traffic) exceeds 400,000 vehicles in some sections.

What the above facts help illustrate is that, quite simple, Toronto is big and busy. There are lots of cars on the road. This translates to lots of driving and lots of congestion, which can lead to accidents. You also need to factor in pedestrians, cyclists, and public transportation. There is no shortage of things that you need to pay attention to when behind the wheel. Are you confident you have enough auto coverage? Get a car insurance quote and assess your options.

Driving tips to help you save on Toronto car insurance

At any given time, you are only a crash or ticket away from more expensive auto insurance rates. Whether you are a seasoned local driver or a tourist, you need the right policy and driving knowledge.

Here are some helpful advice for navigating the streets and highways safely:

Stay alert: There are many potential dangers on the city's roads. Watch out for pedestrians, cyclists, taxies, and other vehicles.
Avoid rush hour when possible: Before and after work have the most traffic volume. This increases your chances of being in a collision and seeing your insurance increase.
Pass streetcars with caution: When streetcars come to a stop and the doors are open, do not pass. Allow pedestrians to get on and off at all stops.
Watch for cyclists: There are many cyclists and bikes lanes. Pay attention when opening car doors. Give one metre when passing a cyclist.
Take extra time when the weather is bad: It will take you longer to drive when conditions are poor.
Expect construction delays: There is ongoing road construction so be prepared for delays. Check things in advance so you can find the quickest route to where you are going.
Know your route: Use a GPS for directions, to avoid congestion, and arrive at your destination. Also, be aware of alternative routes to save time.
Watch out for one-way streets: There are many one-way streets. Always be conscious of them and consider them when planning your route.
Parking: Expect to pay a lot for parking. Consider using a commuter lot and taking the subway or GO train into town.
Gas up: Fill up on gas before you head downtown – gas stations are more expensive and are less common.

Saving on your Toronto car insurance is easy!

Get cheap rates with ThinkInsure

With ThinkInsure, you can compare quotes online from our large selection of auto insurance companies in Toronto and save money. You'll be able to find the lowest rates from in just a couple of minutes.

You can save even more by speaking with one of our advisors. They'll make sure you obtain proper coverage and while ensuring you save as much as possible.

Compare quotes now!