Compare Toronto Car Insurance Quotes for Free
Get personalized car insurance quotes from Canada's top providers in under 5 minutes, for free.
Matt Hands, Business Director, Insurance
Despite the 16 lane highways, the rage-inducing commutes, and year-round road repair, Toronto is still relatively safe for driving. According to a 2013 report, Torontonians have the 2nd lowest auto accident fatality rate in North America.
Car insurance in Toronto, and across Ontario is a requirement for all drivers. To operate a vehicle in Toronto, you must have insurance. To get the best car insurance quotes in Toronto, it's vital to understand how it works.
Toronto 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 Toronto car insurance coverage is broken down into two categories - mandatory and optional.
Mandatory Toronto auto insurance coverage includes:
- Third-party liability
- Accident benefits
- Uninsured automobile insurance
- Direct Compensation Property Damage (DCPD)
Optional Toronto 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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Emergency roadside assistance
How much is car insurance in Toronto?
The average cost of car insurance in Toronto is roughly $2,000 per year, or about $170 per month. Are you paying more? Could you be paying less? Let's find out.compare my quotes
If you're looking for cheap auto insurance in Toronto, you have to compare car insurance quotes from insurance companies in Toronto. Here are some of the best car insurance companies located right here in Toronto, in no particular order.
RH Insurance (Brokerage)
20 Queen St. W Suite 1101, Toronto, ON M5H 3R3
700 University Ave., Toronto, ON M5G 0A1
100 King St. W, Toronto, ON M5X 1E3
106 Spadina Ave., Toronto ON M5V 2K4
121 King St. W Suite 1400, Toronto, ON M5H 3T9
165 University Ave., Toronto ON M5H 3B9
4110 Yonge St. Suite 100, North York, ON M2P 2B7
18 York St. Suite 800, Toronto, ON M5J 2T8
10 Four Seasons PI Suite 200, Toronto ON M9B 6H7
Direct car insurance companies may be experts on car insurance products, but they don’t necessarily give you the best market price possible. By providing us with a few details, we can compare car insurance quotes from various auto insurance companies in Toronto, so you can select the cheapest option possible. We’ll also connect you with a licensed insurance broker to guide you through the entire process of obtaining the coverage you need.
Instead of calling, save your time by comparing quotes now
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Research which company provides cheap car insurance in Toronto, and also the best value for you and your vehicle. Rates may change up to four times a year, but lucky for you comparing Toronto car insurance with us is free.
Stay with your current insurer
Some Toronto 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 Toronto 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.read linkedin bio
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