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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 insurance rates for Toronto drivers.

Compare quotes to make sure you are getting the cheapest auto insurance. You could save up to $500 or 30% on your auto premium with ThinkInsure. Get quotes from the leading car insurance companies and find the most affordable coverage in Toronto!

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Mark Munshaw

2021-06-14 20:36:58

Today I got insurance on my motorcycle through Darryl Fardy at Thinkinsure. Darryl arranged everything for me in a professional efficient way. Darryl answered all my questions over the phone. He responds to my emails very quickly .He quoted me over the phone getting me the best possible price. A very pleasant experience. I would highly recommend Darryl's services to anyone searching for insurance.

Justine Walker

2021-06-10 17:19:22

Sandy was very kind and helpful! She was quick at getting us insurance.

Trish Lozynsky

2021-06-10 16:00:50

Amneet was fabulous from start to finish re my auto policy. I will definitely come back to her in the future.

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2021-06-09 23:05:57

Daryl set me up with a policy in literally 1 hour. Took the initiative and stayed back when he didn't have to. Much appreciated! Respects!

tlc 76

2021-06-09 21:57:14

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2021-06-09 13:35:28

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Katrina Hindle

2021-06-08 21:42:52

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Franck

2021-06-08 20:05:40

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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 is regulated by the Financial Services Regulatory Authority of Ontario. The FSRA is an independent regulatory agency. They oversee close to 300 insurers 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, city 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% the provincial average.

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

What Are The Cheapest Areas In Toronto ON For Auto Insurance?

Auto insurance premiums are higher in the city's 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) have 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 from companies so you'll get the most savings by comparing quotes.

Old Toronto : Notable neighborhoods 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

Here are some frequently asked questions we receive about car insurance :

How Do I Get Cheap Monthly Car Insurance In Toronto?

If you want cheap car insurance, it’s important to compare quotes frequently. Do this when your policy is up for renewal, you get a new vehicle or 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.
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 who offers cheaper rates than the rest. It depends on your unique situation. You won’t know for sure who has the cheapest auto insurance unless you compare quotes from multiple companies.

Why Do Toronto Auto Insurance Rates Change So Often?

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

The increase 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 A 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 a main 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 insurers 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.

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. Its 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, increase 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?

All drivers must have a minimum amount of mandatory auto insurance. We can help you get :

Third Party Liability : Covers liability claims against you from an at-fault accident.
DCPD : DCPD covers damage for accident when you are not at-fault.
Accident Benefits : Accident benefits cover the driver and passengers if injured.
Uninsured Motorist : Covers you if you are injured by an uninsured driver or in hit and run.

We've also got all the additional protection you'll need including collision, comprehensive, and specified or all perils. With the increased risks of such a busy city, most drivers get extra protection to ensure they're covered if anything happens.

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 traffic jams. All of these things have a big impact on auto insurance. Greater risk means premiums are higher 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

Toronto Driving Conditions

Driving conditions are similar to auto insurance in the sense they vary greatly. Conditions change at a moment 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

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 :

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 is by single occupant vehicle.
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.

Toronto Driving Tips

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 tips 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 The Rush Hour Drive 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 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 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.

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