Compare Oakville car insurance quotes & save today
Get personalized car insurance quotes from Oakville's top providers in less than five minutes – free of charge.
How to compare Oakville car insurance quotes with Ratehub.ca
- Share information
Tell us a little about yourself and your auto coverage needs.
- Compare quotes
We instantly show you auto insurance quotes from top Oakville providers.
- Save money
Choose your quote and secure your car insurance rate online.
A few things we're proud of
1,200,000
monthly users
11 years
young
Over 1M
better choices made
Trusted partner
to Canada’s top financial institutions
All about car insurance in Oakville
Oakville, Ontario, with nearly 200,000 residents, thrives on car manufacturing, notably with the Ford Motor Company. Despite a decent public transit system, cars dominate the roads, echoing the town’s industrial backbone. Located about 40km west of Toronto and seamlessly connected to the Gardiner Expressway via the 403, many Oakville residents commute to the big city for work.
Auto insurance in Ontario is a requirement. Private companies issue coverage, but the system is overlooked by the Financial Services Regulatory Authority of Ontario (FSRAO). This ensures rate increases are substantiated – simply put, an insurer can't raise rates without prior approval from the regulatory body. Rate increases also need to be backed by financial records.
Oakville (along with the rest of Ontario) also operates under a no-fault insurance system. This doesn't mean you'll never be deemed at fault after an accident. Instead, it means that you'll generally be making claims under your own insurer, regardless of fault.
To learn everything there is to know about auto insurance in the city, be sure to read on. When you're ready, you can also compare personalized car insurance quotes to find your best rate. We can connect you with a licensed broker who will guide you seamlessly through the process of securing your Oakville car insurance policy.
Did you know?
The previously mandatory coverage, Direct Compensation for Property Damage (DCPD), has been made optional for Ontario drivers as of January 2024. Many insurance experts are warning drivers about the implications of opting out, however, as the financial risk may not be worth the potential savings. Learn more about optional DCPD in our blog linked below.
Standard Oakville auto insurance coverages
In Oakville , three are four standard car insurance coverages – third-party liability, accident benefits, uninsured motorist, and direct compensation for property damage.
Third-party liability
Accident benefits
Uninsured motorist
Direct compensation for property damage
Optional Oakville auto insurance coverages
Aside from the mandatory coverages, you can also add optional coverages to your Oakville car insurance policy. These options are mainly there to help cover the loss and damage of your personal vehicle.
Collision
Comprehensive
Specified perils
All perils
Emergency roadside assistance
Popular Oakville auto insurance endorsements
To further customize your car insurance, you can also add Ontario Policy Change Forms (OPCFs) to your policy. While the selection of endorsements may differ depending on the provider you choose, here are some popular options for Oakville drivers.
Compare Oakville car insurance quotes to uncover your savings.
In less than five minutes, compare personalized car insurance quotes from Oakville 's top providers – no obligation, free of charge.
How much is car insurance in Oakville?
In Oakville, the average cost of car insurance is about $1,400 per year, or just over $115 per month. Keep in mind, however, that rates are calculated based on your individual profile – to find the exact cost you'll be paying, be sure to compare personalized car insurance quotes with us. Below are three sample quotes our Oakville users received from us (last updated in June 2024).
- $56/month
61-year-old female
driving a 2024 Ford Maverick under CAA Insurance
- $79/month
45-year-old female
driving a 2022 Toyota Corolla under CAA Insurance
- $86/month
58-year-old male
driving a 2013 Mercedes-Benz under CAA Insurnace
Factors that impact your Oakville car insurance rate
It pays to shop the market for cheap Oakville car insurance. This is because different insurers offer different rates based on a list of personalized factors. Here, we cover a few main ones, so you can better understand how insurers come up with your quote.
Age
Younger drivers tend to pay the highest car insurance rates due to statistical risk factors.
Gender
Males tend to pay higher premiums than their female counterparts due to statistical risk factors.
Location
Where you live in Oakville matters. Busy areas with high crime rates will inevitably come with higher premiums.
Vehicle type
Cars that expensive to repair and replace will cost more to insure – and the same goes with highly-stolen ones.
Vehicle use
Do you drive for business or for pleasure? Pleasure-use cars tend to come with cheaper insurance rates.
Driving history
Your Oakville driving history is looked at by insurers. A clean record shows low-risk which means low premiums.
Driving behaviour
More time on the road equals more risk – so expect to pay higher premiums if you commute daily.
License class
If you have your full driver's licence in Oakville , expect to pay cheaper premiums than a novice driver.
Coverages & discounts
More protection will lead to higher rates, but asking for discounts can help combat the cost.
How to get cheap Oakville car insurance quotes
While insurers are the ones that quote you, there are many steps you can take to make sure you're getting the cheapest Oakville car insurance on the market. Here, we cover ten different tips to help lower your premium.
- Shop & compare
Research which company provides cheap car insurance in Oakville . Rates can potentially go up whenever you renew, but lucky for you comparing personalized Oakville car insurance quotes with us is free.
- Stay loyal
Some Oakville car insurance companies will give loyalty discounts to drivers who remain active with them for years – but don't let this deter you from shopping the market.
- Bundle insurance products
If you use the same insurance company for both your home and auto insurance needs, your insurer will often thank you with a policy bundle discount.
- Insure multiple vehicles together
If you have multiple drivers and multiple vehicles in your household, putting them all under one policy can help 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 increase it, you'll pay less in premiums.
- Ask about discounts
Ask your insurer about group rates – for professionals, alumni, and more. Oftentimes, Oakville insurance companies will offer discounts to members of certain organizations.
- Pay premiums annually
Paying monthly premiums adds administrative costs to your insurer. If you’re able to pay in full annually, you'll likely pay a bit less in the long run.
- Keep a clean record
The cheapest rates go to the safest drivers in Oakville . Car crashes can stay on your record for years, causing your insurance premium to go up substantially.
- Install winter tires
As Oakville roads can get dangerous in the winter, insurers often offer a cheaper rate to those who install winter tires.
- Drive less
The more you drive, the more risk you're inevitably exposed to. Simply driving less can help save you money on your car insurance premium.
Ready to compare car insurance in Oakville ?
You're just a few clicks away from unlocking all your savings – find your lowest Oakville auto insurance rate with us today.
Frequently asked questions about car insurance in Oakville
Is Oakville cheaper than Mississauga for car insurance?
Car insurance in Mississauga is much more expensive than in Oakville by about 40%. However, don't let this change where your location on your insurance. Lying to your Oakville insurance company can have negative consequences like a denied claim or cancellation of your policy. If either of those happen, it will cost you much more in the long run.
Who is the best car insurance company in Oakville?
The best car insurance companies are typically thought to be big players like Allstate, Economical, and Desjardins. However, the real question is what is the best insurance company for you, and so it's helpful to compare insurance quotes and review the company values and speciality offerings. After comparing, you can see which Oakville car insurance company gives you the lowest car insurance rate based on your unique profile. You can do that for free with us at Ratehub.ca
Who are the best car insurance brokers in Oakville?
There are many car insurance brokers, and any licensed broker in Ontario can help you finalize your insurance quote in Oakville. Don't limit your options, It's a personal choice, and we work with many brokers to help you get the best coverage for your needs.
Do I need insurance for a car rental in Oakville?
Rental car insurance has 4 main components, they include collision, personal accident, liability, and personal effects. If you have the OPCF27 endorsement on your auto policy, you can port your existing insurance to avoid paying for personal accident and liability insurance. If you have collision insurance on your policy, you can port that as well. Personal effects coverage is covered by your home insurance. If you don't have the right endorsement on your policy, check your credit card, it's possible they offer collision coverage, so the only coverage missing is liability and accident insurance which you should pay for.