Cheapest Cars To Insure In Ontario

What are the cheapest cars to insure?

The cheapest vehicle to insure in Ontario will change each year. In 2024, as new vehicles become available and providers adjust their rates, they will go up or down for some models.

However, some models are consistently ranked as the most affordable for coverage. We’ve included models from various classes to give you an overview of your options.

Here are frequent models that have topped the list over the last five years and are a good choice for smaller payments:

Here are some additional reasons to choose one of these vehicles:

1. Jeep Wrangler: You see the Wrangler on the list almost every year. As a larger vehicle, it offers excellent storage space and is ideal for families and those who travel and enjoy the outdoors. Compared to similar models, you’ll pay less for coverage without sacrificing quality or style.
2. Nissan Versa: The Versa is another popular subcompact. It has great fuel economy, a good base price, and a wide array of safety features, which make it a top insurance option compared to other vehicles in its class.
3. Toyota Prius: When you think of savings, hybrids are not the first vehicle type to come to mind. Surprising to many, the Prius has regularly appeared in the rankings over the past few years. This is good news if you are in the market for this type of vehicle. It omits fewer emissions and has minimal fuel consumption. But it is also known for its exceptional safety features.
4. Honda Odyssey: If you are looking for a vehicle that can comfortably fit the entire family, is affordable, and offers all the features you need, the Odyssey is it. Even though SUVs are popular today, they still hold their own, and people are drawn to them because of their insurability.
5. Honda CR-V: A second Honda vehicle, the CR-V is a compact SUV that looks great and is ideal for city and highway driving. The brand is known for its reliability and safety features, which insurers value when assessing costs.
6. Chevy Cruze: The Cruze is a small sedan with great fuel economy. Its affordability is one of the most appealing features. Its recently updated safety technology and reasonable repair costs make it a great value for insurance.

Top 10 cheapest cars to insure in Canada in 2024

We receive a lot of quote requests for the top-selling cars in Canada. Here is a sample of the cost to insure the top 10 vehicles sold in the first two quarters of 2024:

2024 Sales numbers from Kelly Blue Book.

Most affordable vehicles to insure by type

According to Forbes blogger Jim Gorzelany, SUVs, crossovers, and minivans are "more politely piloted than sports or high-performance luxury cars." They are designed for families where safety is a top priority.

Also, their drivers are generally more experienced and cautious. Almost all of the cars on these lists fall into this family car category.

The Jeep Wrangler Sport 4WD (an SUV) and the Honda Odyssey LX (a minivan) have 5-star safety ratings. This is the highest rating a vehicle can receive from the National Highway Traffic Safety Administration, an essential factor making them less expensive to insure.

Here is a breakdown by vehicle type of models that are less expensive.

SUVs

An SUV is an extremely popular vehicle today. Here are some of the most affordable SUVs to insure:

Other types of vehicles

Pickup trucks are popular in Canada. Here are some of the most economical pickup trucks to insure:

Sports cars are generally more for insurance compared to other vehicle types. If you want to drive a sports car and save as much as possible, consider a vehicle from this list.

Drive an electric car? Or perhaps you drive a newer electric trucks that are becoming more popular. that is becoming more popular. Thinking about buying or leasing one in the future? You can get an eco-friendly discount of up to 10% by driving an electric or hybrid car. Here are some to check out:

Luxury vehicles are associated with higher rates because they are more expensive, a bigger target for thieves, and tend to be more expensive to repair. Here are the least expensive luxury options to insure from Autobytel.com:

What are the best automobile brands for insurance savings in 2024?

We checked over 10,000 quotes from 2024 data for the top 20 brands. Domestic brands had the most savings, while luxury and foreign brands were the most expensive cars to insure.

What used cars are cheaper to insure?

Used are generally more affordable than new vehicles if they aren't too old. So, if you are looking to save, consider buying a used car. According to autobytel.com, here is a list of used cars to consider:

Top vehicles that cost less to insure for teenagers

Insurance for young drivers is typically more expensive compared to experienced drivers. So, choosing the right vehicle can help reduce overall driving expenses. Here is a list of some of the most affordable cars to insure for teenagers:

Tips to help you choose a vehicle that is less to insure

Saving on your policy is like anything else. You can get great value if you understand the factors that impact how much you will pay. Use these general tips to find a vehicle that meets your needs:

1. Go with a compact small car or SUV.
2. Buy a used vehicle that isn't too old.
3. Avoid the temptation of getting a sports car.
4. Look at the safety ratings a choose one of safest cars in Canada to save more.
5. Check the most stolen cars in Canada and reconsider a vehicle if it’s on the list.

Frequently asked questions

What is the cheapest car to insure in Canada?

Smaller cars and SUVs tend to be more affordable to insure in Canada. The Mazda CX-3 and Honda CR-V are excellent options. Many affordable cars are available, especially if you have a good driving record. Spending the time to shop around is well worth it. Compare car insurance quotes to find what vehicle has better savings.

What is the best used car to insure for teenagers?

Teenagers and new drivers pay more for insurance. One way to help reduce expenses is to drive an inexpensive vehicle. This often means driving a small to mid-sized car with a good safety rating and lower replacement part costs.

One of the most affordable options is to drive something older with a lower replacement value. Another option is to choose a used vehicle or a family car. Vehicle choice is paramount. If you choose to drive a sporty model or one with a big price tag, you can expect your insurance to skyrocket. Here are some models to consider:

• Honda Odyssey: Not the coolest choice, but it has low insurance.
• Toyota Camry: It is a reliable vehicle.
• Honda CR-V or Subaru Forester: Dependable smaller SUVs.

What family cars are more affordable to insure?

Most are mid-sized cars, minivans, or SUVs, which are less to insure. These vehicles tend to have strong safety ratings, security features, and cost less to repair. The Honda Odyssey is a good choice for savings. Find out how much your Ontario car insurance will be by calling a ThinkInsure advisor.

Does an older car cost less to insure?

It depends on the vehicle. But, in general, older cars are less expensive to insure for many reasons. For example, many drivers keep minimal coverage on older vehicles to help save. Speak to your advisor to find out if your older car is cheaper to insure.

What small car will lower my insurance the most?

Most smaller vehicles are cheaper to buy and insure. Some budget and insurance-friendly compacts include the Nissan Micra, Kia Rio, and Ford Fiesta.

What is an affordable car to insure for 18-year-olds?

Small to mid-sized vehicles are the most affordable for 18-year-olds. Ideally, teen drivers will be added to their parent's policy as occasional driver to save the most.

Are newer cars cheaper to insure?

The type and age of a vehicle are always considered when determining insurance prices. Are newer cars more affordable to insure? It depends on the vehicles you are thinking about getting. Newer ones have reasonable premiums because they have modern safety and security features. Continually assess your options to see what is right for you.

What colour car is the cheapest to insure?

There is no direct correlation between the colour of your vehicle and your insurance payments. But things like custom paint jobs, decals and tint can increase your costs. These things increase how much it would be to repair your vehicle back to its original state if it were damaged or vandalized.

Shop around to find a vehicle that is less to insure

The car you choose has a huge impact on how much you will pay for car insurance in Toronto or other parts of the province. Shopping around and doing your research could save you hundreds of dollars annually. When you find the right vehicle, we'll gladly help you find coverage at the lowest price. Try our car insurance calculator to get an estimate for your vehicle.

Methodology

We culled lists from top auto sites across the internet to curate a list of the most affordable vehicles for insurance. We also reviewed our internal data for Ontario car insurance to determine the best options. Data is from drivers with a clean driving record and G driver's licence (unless otherwise stated) in the province. Results can vary based on your specific situation.

*From January 1 to August 30, 2024. Standard coverage, G driver’s licence, and clean record.

**From January 1 to August 30, 2024. Standard coverage and clean record.