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Recent auto insurance news in Canada

Matt Hands

Vehicle theft is becoming a major factor in the price we pay for car insurance in Canada. In fact, the problem is surging across Canada, so much so that the auto industry is looking for ways to improve theft prevention and vehicle security.

According to a report by Équité Association (November 2022), showed that there has been an increase in thefts for export due to the increased use of sophisticated theft technology. The increase in theft is most noticeable in high-end vehicles.

Unsurprisingly, Ontario is leading the nation in the volume of stolen vehicles, but Alberta and Quebec are not too far behind. In fact in Toronto alone, there were close to 10,000 vehicles stolen in 2022, a figure which has risen yearly since 2018. While Calgary saw nearly a 25% increase YoY. 

The full impact of vehicle theft may hit Canadians differently, but the one thing that we will all face is an increase in the price we pay for auto insurance. As theft continues to rise, insurers will need to increase their rates in order to offset the rising risk. Furthermore, vehicles that have been identified as higher risks to theft (i.e. Honda CR-V) will see their rates rise even more than the average Canadian.

To learn more about vehicle theft in Canada check out our blog on the top 10 most stolen cars in Canada.

What to do about car insurance rate increases?

Amid the rising cost of insurance in Canada due to factors such as theft, we recommend comparing car insurance quotes to find the best rate for your situation.

Why should you compare auto insurance quotes with

  • Free

    Our car insurance calculator is free of charge, no obligation to purchase a policy needed.

  • Unbiased

    Top auto insurance companies compete for your business – we just help you compare.

  • Quick

    By taking five minutes out of your day, you can save hundreds of dollars throughout the year.

Why do you need car insurance?

First and foremost, it's the law. Car insurance is a requirement for anyone who wishes to drive a car in Canada. Even though it is legally mandated Canada-wide, the coverage requirements for a standard car insurance policy vary provincially and will heavily depend on whether it's a public or private insurance system.

British Columbia, Saskatchewan, and Manitoba are public insurance markets where you buy auto insurance from the government. Alberta, Ontario, and Atlantic Canada have private insurance companies vying for your business, which is why comparing car insurance quotes online is an effective strategy for uncovering lower rates. Quebec, on the other hand, is a hybrid system that offers the cheapest car insurance rates. There you buy injury coverage from the government and property damage from a private insurer.

Even though each province set's a minimum standard for coverage, most people purchase a more comprehensive insurance policy. In fact, in every province you can customize your policy's coverages and amounts to further to suit your personal needs. 

Another thing to understand about auto insurance in Canada is the differences between the accident claims systems. There is a shift in a lot of provinces towards a no-fault insurance system, where you only deal with your insurance company when seeking financial compensation for an incident you were involved in. The other system is a tort-based system that is considered by many to be inefficient, as you deal with the other driver and their insurance company to  seek compensation. Regardless of the rules in your province, not having an insurance policy would leave you financially vulnerable if ever involved in an accident.

How does car insurance work in Canada?

In order to drive a car in Canada, you must have car insurance, but that doesn't mean all driver's insurance policies are the same. You have the option to customize your policy beyond the mandatory minimums to make sure you have the right level of auto insurance coverage to suit all your needs.

The following coverages are included on every standard auto insurance policy in Canada. These are government-mandated coverage standards that every insurer must follow when creating insurance products for Canadian drivers. Keep in mind that the majority of Canadians customize their policy beyond the provincial mandatory minimum car insurance coverage requirements.

  • Third-party liability insurance protects you financially if you injure someone or damage their car or property. The minimum in most provinces is $200,000, but most people default to $1 million – you can also upgrade to a limit of $2 million.

  • Accident benefits protection provides you and anyone injured with coverage for any medical and rehabilitation costs resulting from an accident. It also pays for loss of income if you can't work. You can upgrade this coverage for further protection too. 

  • Direct compensation property damage (DCPD) is available in the private insurance provinces. It means you only ever deal with your insurance company for damages.

  • Uninsured auto protects you in the event you're in an accident where the other driver doesn't have insurance or flees the scene. Your insurance company can still cover you.

How auto insurance differs from province to province

Although auto insurance is mandatory across the country, there are still differences depending on where you live. Below, we break down the key differences in car insurance coverage for each province in Canada.

    Are you getting the best price for your auto insurance?

    In less than five minutes, you can compare multiple car insurance quotes from Canada's top providers to see if you're getting the best rate possible.

    Recent cheap car insurance quotes

    Thousands of Canadians come to us weekly looking for ways to save on their next auto insurance policy. Just like we've helped them compare the market with ease, we can do the same for you. Don't delay, take advantage of our free comparison service to uncover your potential savings today.

    Here are some recent auto insurance quotes by Ratehub users:

    Date Driver Vehicle Insurance company Lowest rate
    March 19, 2023 Female, 43 2013 Hyundai Sonata CAA Insurance $71/mnth
    March 19, 2023 Male, 54 2010 Mitsubishi Outlander Onlia Insurance $272/mnth
    March 19, 2023 Female, 23 2013 Hyundai Elantra Echelon Insurance $153/mnth


    How much is car insurance in Canada?

    Below is the chart for the average car insurance cost in Canada. Your car insurance rate will vary depending on a multitude of factors, but this can give you an idea of how average car insurance quotes differ across each province. To find the exact cost you’ll be paying for your auto coverage, be sure to compare auto insurance rates with us. 


    Source: Insurance Bureau of Canada (2019), GISA & MSA data for private insurers (2018), SGI Annual Report (2018), MPI Annual Report (2017), Société de l'assurance automobile du Québec (SAAQ), and ICBC Service Plan (2019).  

    Compare cheap auto insurance quotes (for free).

    Comparing the auto insurance market is the best thing you can do when shopping for a new policy – you can find the cheapest car insurance rate in just under five minutes.

    How car insurance quotes are calculated

    You might think that car insurance quotes for the same driver or car will be similar across all providers. However, every auto insurance company has its own costs to cover, based on data from their existing customers and claims.

    A car insurance rate calculation has many subtle complexities, and there are multiple factors that contribute to your final rate. Based on the information you provide in your driving profile, each car insurance company will categorize your risk potential and calculate a personalized rate.

    Unfortunately, some factors are out of your control, but there are still a few for which you are 100% in the driver’s seat. Therefore, being in the know can save you money on your auto insurance premium – here are seven factors that auto insurance companies will consider before offering you a personal car insurance quote.

    Driver demographics

    Where you live

    Vehicle type

    Driving history

    Driving activity

    Type of insurance coverage

    Applicable discounts

    How to get the cheapest car insurance quotes

    1. Shop around and compare

      Auto insurance rates vary greatly between companies – you need to research which insurer will offer the best coverage specific to your needs.

    2. Bundle policies

      Insurance companies value loyal customers. By having your auto and home insurance bundled together under the same carrier, you can expect a substantial rate reduction.

    3. Increase your deductible

      The deductible is what you pay when something happens to your car before the insurance company pays the rest. Increasing your deductible can lower your annual premiums.

    4. Ask about group discounts

      Many insurers offer discounts to members of professional organizations or affiliation groups – so it pays to ask about discount relationships.

    5. Install safety devices

      Insurance companies are all about lowering the risk of a claim. You could see a rate deduction by installing anti-theft devices or opting for a car that's already equipped with the newest safety features.

    1. Pay premiums annually

      If you pay your premiums upfront for the year – or even per half-year – you will usually end up paying less than if you paid monthly.

    2. Maintain a good driving record

      At-fault collisions and driving convictions stay on your insurance record for years and make your rates go way up – if you drive safely over a long period, you’ll pay the lowest car insurance rates.

    3. Track your driving

      With usage-based insurance (UBI), you can earn discounts for driving well. Car insurance companies can track your driving behaviour, so you can earn discounts by being a low-mileage or safe driver.

    4. Take a course

      Accredited driving courses will not only make you a safer driver but can also result in discounts from many auto insurance companies.

    Don't forget to review your car insurance policy yearly.

    Car insurance companies change their prices all the time, so set an annual reminder to compare auto insurance quotes before you renew to ensure the best deal possible and the right level of coverage.

    Frequently asked Canadian auto insurance questions

    Is car insurance in Canada mandatory?

    Why are my car insurance quotes so high?

    How do I find the cheapest auto insurance rates?

    Is auto insurance different between provinces?

    What do I need to get car insurance in Canada?

    Do I need car insurance if I don't drive my car in Canada?

    Who has the best and cheapest car insurance?

    Do I need special insurance to drive for Uber?

    How does a car insurance deductible work?

    At what age does car insurance go down?

    What doesn't impact my car insurance rate?

    Do I need to purchase car insurance from my home insurance provider?

    Can I drive a car if I don't have auto insurance?

    Can I cancel my car insurance?

    What happens if I stop paying my car insurance premium?

    How long do car accidents stay on your record?

    How much does car insurance increase after an at-fault accident claim?

    All about your car insurance quote

    Your most frequently asked questions about our online car insurance process, answered. partners with top auto insurance companies across Canada, so you can compare your personalized car insurance quotes all at once. Each rate is calculated using the insurer's own underwriting and quoting process, so you can receive an accurate estimation based on your profile.

    Matt Hands, Business Director of Insurance

    With 6+ years of experience at, Matt’s focus has been on growing its newest business unit, Insurance. He is a thought leader and a valuable resource to respected publications across Canada. read more

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