Waterloo Car Insurance: Get Cheap Auto Insurance Quotes

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Save $706* by comparing car insurance quotes in Waterloo to find the lowest rates.

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Get the best Waterloo auto insurance

It's no secret Waterloo residents are looking for ways to save money on things like car insurance. With rates increasing along with the cost of living, every little bit of savings counts. The great thing about insurance is that you can look for ways to reduce your premiums yearly. ThinkInsure helps you pay less and makes your renewal process quick and easy.

We make comparing quotes and coverage options for Kitchener auto insurance easy. We'll check prices from the top insurance companies in Canada to save you more. Get started by comparing quotes online, or give us a call. Our advisors will ensure you get the coverage you need for the lowest rate.

Top things to know about Waterloo car insurance

Waterloo car insurance rates are higher than the provincial average but similar to other cities in the tri-cities region.
Waterloo South is the area with the cheapest car insurance rates in the city.
Car insurance costs are increasing but you can keep rates down by comparing quotes with a broker.

How to compare car insurance quotes in Waterloo

Compare quotes for free with these easy steps.

1) Start your quote

Enter some basic info.

2) Tell us about your driving and vehicle

Provide your driving and vehicle information.

3) Compare your quotes

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Choose your policy

Choose the best rate. Confirm the details with our experts and get insured.

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How does auto insurance work in Waterloo?

You need car insurance to drive in Waterloo legally. Ontario car insurance rules and regulations apply the same to all cities. What does this mean? Here is what you need to know:

Insurance is mandatory.
All drivers require a minimum of $200,000 in third-party liability.
ou can get additional coverage, but this will cost more.
Policies can be purchased through a private insurance company via an insurance broker.
No-fault insurance applies.
ines start at $5,000 if you drive without insurance.
Policies are in effect for one year. Review and compare quotes to decide whether to renew or switch providers.

What is the mandatory car insurance in Waterloo?

All insurance policies will include the following minimum coverage:

Third party liability: You have liability protection if a claim is made against you after an at-fault accident. Basic plans have $200,000 in coverage. Most drivers increase this to at least $1 million in coverage.
Statuatory accident benefits: You receive medical assistance if you or any passengers are injured in an accident. This includes things like attendant care, rehabilitation, and lost income.
Uninsured motorist: You have protection if an uninsured driver hits your vehicle or injures you. You also have hit-and-run coverage.
Direct compensation property damage: DCPD covers accident damage when you are not at-fault. As of January 1, 2024, DCPD will no longer be mandatory. You can opt out of this coverage using OPCF 49. It will be automatically included until you remove it.

This is the basic amount of insurance in your policy. You can personalize your policy and enhance your plan with optional coverage and endorsements.

What optional car insurance coverage is available in Waterloo?

You have a lot more insurance options than you think. You can add one of these types of coverage to your plan:

Collision insurance: This coverage vehicle damage from collisions. Plans also include damage from objects, such as a fallen tree branch or street signs.
Comprehensive insurance: You have damage protection from non-driving events. For example, someone keys your car or vandalizes it.
All perils insurance: This is a combination of comprehensive and collision coverage.
Specified perils insurance: You have coverage for the perils that are listed in your policy.

Keep in mind that extra protection options will vary based on the insurer. Additional coverage will also increase your premiums. Reach out to our brokers to discuss your policy options.

Recent Waterloo car insurance quotes

2024/10/01

Shopper in WATERLOO, ON
Vehicle: NISSAN ROGUE SV 4DR 2WD 2013
CAA My Pace	$650
Pembridge	$836
Economical	$879
Aviva Journey	$972
Savings from top 4 lowest quotes	$322

2024/09/18

Shopper in WATERLOO, ON
Vehicle: TOYOTA CAMRY SE 4DR 2023
CAA Connect	$1,809
CAA	$1,907
Intact	$1,955
Travelers	$2,152
Savings from top 4 lowest quotes	$343

5 star reviews for auto insurance in Waterloo

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steve jonkhans

2024-09-26

i used thinkinsure to navigate a complicated car insurance situation after my prior broker could not find me the insurance i required. Denise Snyder Phillips was my agent and she was extremely helpful, efficient and responsive. Highly recommend thinkinsure for your insurance needs and ask for Denise!

Carrie Crump

2024-09-24

Young man is super amazing and caring . Top top notch service !!! Very kind gentleman

DJ G

2024-09-24

I was shopping around for some new auto insurance rates as my current policy was ending soon and was looking for cheaper premiums. I called ThinkInsure, and Todd helped me with the process start to finish. Communication with him after my initial phone call was flawless through email, often replying right away during business hours. He was easy to ask questions and provided multiple quotes to me when I needed to make some changes. I ended up getting better coverage for a much lower premium compared to my current provider with ThinkInsure. Thanks Todd for the seamless experience and helping me get setup!

Philip Witteveen

2024-09-23

Denise is fantastic! She is so kind and patient and works hard to listen and provide you with the best insurance available to you. Denise also continues to look for the cheapest options for you that provides you with the top notch coverage. I would highly suggest connecting with Denise if you're looking for great insurance, good prices, and to work with someone that actually cares. 5 star plus!

Cassandra Brookes

2024-09-20

I had been in the market for new insurance for a while, not getting many great quotes and then I come to find Todd Allen through ThinkInsure and have only great things to say about my experience. Knowledgeable, honest, responsive and made insuring my vehicle a breeze. Within 4 emails back and forth, signing e documents and a final email to confirm I was set up and ready to go. Could not recommend his services enough! Thanks Todd !!

Ginny Sweet

2024-09-19

I was in a difficult situation trying to renew my insurance after my last company stopped providing insurance. Bailey made the whole process quick and easy. I had paperwork signed and documents to me within a few hours of our initial conversation. I am forever grateful

Durai samy Easwarakumar

2024-09-18

Todd Allen such a nice auto insurance advisor Doing a excellent service 👍buy the costumer’s satisfaction to get an cheaper code in the current market 😀

Jenniffer

2024-09-17

great service, sohel rahman was incredible helping us get the insurance we needed, thank you!

How much does car insurance cost in Waterloo?

Car insurance in Waterloo costs about $2,355 per year, based on 2024 customer data. This is higher than the provincial average but similar to cities nearby, such as Kitchener and Cambridge. Drivers in Ontario pay an average of $1,737 annually.

There are higher rates in Waterloo because of more traffic, collisions, and increased risk of theft in the area.

Waterloo auto insurance premium map

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

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How do Waterloo auto insurance rates compare to nearby cities?

Rates in Waterloo are similar to other cities within close distance. Kitchener car insurance premiums are within a few dollars per year. car insurance in Cambridge, however, over $200 more per year, based on ThinkInsure customer data.

City	Avg premium
Kitchener	$2,071
Guelph	$2,053
Waterloo	$2,109
Stratford	$1,819
Brantford	$2,013
Woodstock	$1,779
Cambridge	$2,367

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What areas in Waterloo have the cheapest car insurance?

Where do you live in Waterloo? It can affect how much you pay for insurance. Here’s an overview of average costs based on your location within the city:

Area in Waterloo	Postal Codes	Avg Premium
Waterloo Northwest	N2V	$2,204
Waterloo South	N2L	$2,016
Waterloo Southwest	N2T	$2,412

Waterloo car insurance rates from 2022-2024

Year	Average annual premium
2024	$2,355
2023	$2,109
2022	$1,621
Average rate (2022-24)	$2,028

How do Waterloo auto insurance premiums change by driver type?

Your driving profile (experience, age, driving record) significantly impacts your premiums. You'll likely enjoy lower rates if you’re an experienced driver with a clean record. But, if you’re young or have a ticket or two, you could see higher costs. To examine the impact of these factors on your payments, we analyzed our customer quote data from 2023. Here are our findings:

	Premium	Monthly	Difference
Driver type
All drivers	$2,109	$176	0
Young drivers (25 and under)	$2,475	$206	17.35%
Middle age (25 - 50)	$2,129	$177	0.95%
Mature/senior drivers (50+)	$1,430	$119	- 32.20%
High risk drivers	$5,709	$476	170.70%
Demographics
Male	$2,303	$192	9.20%
Female	$1,761	$147	-16.50%
Married	$1,962	$164	-6.97%
Single	$2,245	$187	6.45%
Driving record
Clean driving record	$2,109	$176	0
1 ticket with past 3 years	$2,640	$220	25.18%
1 accident in 3 years	$2,489	$207	18.02%
1 cancellation in 3 years	$2,195	$183	4.08%
1 suspension in 3 years	$2,627	$219	24.56%

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Waterloo car insurance premiums by vehicle brand

The type of car you drive can make a big difference in your insurance bill. How much? Hundreds and even thousands of dollars. See how rates stack up for different brands:

Vehicle brand	Premium	Monthly payment
Honda	$2,024	$169
Toyota	$1,590	$133
Hyundai	$2,447	$204
Chevrolet	$1,471	$123
RAM	$1,548	$129
Dodge	$1,548	$129
Mazda	$2,108	$176
Nissan	$1,637	$136
Volkswagen	$3,175	$265
Mercedes	$3,271	$273
Tesla	$3,138	$262
Audi	$2,348	$196

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Waterloo car insurance FAQs

How do I get cheap car insurance in Waterloo?

Finding cheaper car insurance starts with using a Waterloo insurance broker. They can help you more efficiently explore your insurance options. But there are a lot of things you can do yourself to keep costs down:

Remain accident and claims-free
Shop around and car insurance quotes annually
Drive an insurance-friendly vehicle
Drive less and sign up for used based insurance
Add extra security features to your vehicle
Bundle home and auto insurance

What are the main factors that affect how much I pay for car insurance in Waterloo?

All drivers are affected by a standard list of factors that will increase or decrease insurance payments. Some you can control, and others you cannot. They include

Age, gender
Driving experience and licence type
Where you live
Vehicle type (new or used, SUV, car, pickup)
Vehicle use (length of commute, business use, kilometres travelled)
Driving record and claims history
Policy type and limits

What are the best Waterloo car insurance companies?

The best insurance provider will depend on your specific situation. There are many top insurance companies to consider. You don't have just to use insurers that are physically in Waterloo. Our brokers can help you compare insurance quotes from all the best companies.

Start saving on Waterloo car insurance today

Cheaper auto insurance in Waterloo is only a click or call away. Tell our brokers about your needs, and we’ll find the best rates from Canada's leading insurance companies. Get quotes online or contact us; we'll help you get insured for a competitive rate.

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Sources

* Based on the difference between the average lowest premium and the overall average premium in Waterloo for estimates completed from January 1 to December 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 Waterloo on ThinkInsure.ca from 2023.

*** Estimated premiums are based on data entered by individuals on ThinkInsure.ca from January 1 to December 31, 2023.

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2024-10-04

Waterloo Car Insurance

Save $706* by comparing car insurance quotes in Waterloo to find the lowest rates.

Compare Waterloo car insurance quotes from top providers

Get the best Waterloo auto insurance

Top things to know about Waterloo car insurance