Compare Oshawa Car Insurance Quotes
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Matt Hands, Business Director, Insurance
Oshawa, Ontario is home to about 160,000 people but the lack of a strong public transit system makes driving a car almost a necessity to get around.
Given one of the major drivers of their economy is car manufacturing, and they are one of, if not the Automotive Capital of Canada, maybe its residents don’t mind.
Located about 60km east of Toronto, and directly off the 401, “The City that Motovates Canada” takes pride in driving.
Car insurance in Oshawa, and across Ontario is a requirement for all drivers. To operate a vehicle in Oshawa, you must have insurance. To get the best car insurance in Oshawa, it's vital to understand how it works.
Oshawa operates in a no-fault insurance system. No-fault means drivers use their own insurance company regardless of who is at-fault in an accident. In other words, you only ever deal with your own insurance company for a claim or following an accident.
Ontario auto insurance is provided by private insurance carriers and is regulated by the Financial Services Regulatory Authority of Ontario (FSRAO). FSRAO ensures rate increases are substantiated. Simply put, an insurer can't raise rates without prior approval from the regulatory body and is based on their financial records.
Available Oshawa car insurance coverage is broken down into two categories - mandatory and optional.
Mandatory Oshawa auto insurance coverage includes:
- Third-party liability
- Accident benefits
- Uninsured automobile insurance
- Direct Compensation Property Damage (DCPD)
Optional Oshawa 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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How much is car insurance in Oshawa?
The average car insurance in Oshawa is roughly $1,870 per year, or about $155 per month. Considering the provincial average is $1,505. Could you be paying less? Let's find out.
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Research which company provides cheap car insurance in Oshawa, and also the best value for you and your vehicle. Rates may change up to four times a year, but lucky for you comparing Oshawa car insurance with us is free.
Stay with your current insurer
Some Oshawa 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 Oshawa 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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