Compare Mississauga Car Insurance Quotes
Get personalized auto insurance quotes from Mississauga's top insurance companies in less than 5 minutes, for free.
Matt Hands, Business Director, Insurance
Mississauga is the sixth-largest city in Canada and its multicultural population grows exponentially each year. With 7 major highways nearby and 3 of them being major arteries into the city of Toronto, it’s no wonder 25% of people in Mississauga commute into Toronto every day.
The rapid population growth has led to the construction of new major roadways paving the way for all the new commuters. If you’re not on one of the many highways, make sure you slow down. These new construction projects, municipal zones, and community zones can regulate your speed down to 40km/h from a street where you were going twice as fast.
Whether it's the speed zones, the population surge, or the growing number of red-light cameras but Mississauga drivers pay some the most for car insurance in Canada, consistently ranking in the top 5 cities in Ontario for costly insurance premiums.
Why should you care?
Car insurance in Mississauga, and across Ontario is a requirement for all drivers. In order to get the best car insurance rates it's critical to understand how it works.
First, Mississauga operates in a no-fault insurance system. No-fault means you only ever deal with your own insurance company for a claim or following an accident, not that you can't be found at-fault following a crash.
Ontario auto insurance is provided by private insurance carriers. Those companies are regulated by the Financial Services Regulatory Authority of Ontario (FSRAO). FSRAO ensures rate increases are substantiated. In plain words, no insurance company can raise rates without prior approval. c
Car insurance coverage is broken down into two categories - mandatory and optional.
Mandatory auto insurance coverage includes:
- Third-party liability
- Accident benefits
- Uninsured automobile insurance
- Direct Compensation Property Damage (DCPD)
Optional car insurance coverage includes:
- Collision insurance
- Comprehensive car insurance
- Specified perils
- All perils
Also available in any city in Ontario are Optional Policy Change Forms (OPCF) which are coverage enhancements. Here are 4 common Ontario endorsements.
- OPCF 20 - covers the cost of a rental vehicle while yours is being repaired or replaced
- OPCF 27 - Ports your existing insurance to a rental car or car you borrow
- OPCF 39 - Your insurer forgives your first accident claim so it doesn't impact your insurance rate
- OPCF 43 - Removes depreciation in calculating the value of your car when settling a claim
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Direct compensation property damage
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How much is car insurance in Mississauga?
The average cost of car insurance in Mississauga is about $2,000 per year ($165 monthly) which is about 30% higher than the provincial average of $1,505. Could you be paying less?
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Shop and compare
Research which company provides cheap car insurance in Mississauga, and also the best value for you and your vehicle. Rates may change up to four times a year, but lucky for you comparing Mississauga car insurance with us is free.
Stay with your current insurer
Some Mississauga auto insurance companies will give loyalty discounts to drivers who remain active with them for years. Especially if they add family members or multiple vehicles to their policy.
Bundle your policies
If you use the same insurance company for both your home and auto insurance needs, your insurer will often thank you with a dip in premiums.
Get a multi car discount
If you have multiple drivers and vehicles in the same household, by putting them all on one policy can save you money.
Increase your deductible
Your deductible is the portion you pay when settling a claim before your insurer will pay the rest. If you’re willing to double your deductible, it could save you money.
Ask about discounts
If you’re a member of a large corporation, union, or a school alumnus, it could help you get cheaper Mississauga car insurance
Pay premiums annually, instead of monthly
Paying monthly adds administrative costs to your insurer, so if you’re able to pay in full annually you can lower your premiums.
Maintain a good driving record
If you’re a safe driver, obey the rules of the road and drive according to road conditions you can reduce your chances of an accident. Car crashes stay on your insurance record for up to ten years and can result in higher premiums.
Install winter tires
You can save up to 5% simply by adding winter tires to your car in Ontario
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Matt started his professional career at CARPROOF where he honed his marketing and analytical skills for over 3 years. Matt then took his wealth of experience to Ratehub.ca’s Toronto offices, working with insurance providers, agents, and brokers to grow and expand the Insurance business unit. He is a thought leader in the community and a valuable insurance resource to respected publications like the Globe & Mail, Toronto Star, Huffington Post, Yahoo News, and 680 news radio in Toronto.
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