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Compare Toronto car insurance quotes & save with us today

Looking for the cheapest car insurance? In just a few minutes, you can get personalized auto insurance quotes from Toronto's top providers.

How to compare Toronto car insurance quotes with Ratehub.ca

  1. Share information

    Tell us a little about yourself and your auto coverage needs.

  2. Compare quotes

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  3. Save money

    Choose your quote and secure your car insurance rate online.

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How does auto insurance in Toronto work?

Matt Hands

Car insurance in Toronto is mandatory. It's illegal to operate a vehicle that isn't insured with the minimum required coverages (outlined in Ontario's Insurance Act). That being said, most drivers increase their protection anyway by setting higher payout limits and adding optional enhancements – such as coverage for collision and theft. 

Toronto, as well as the rest of Ontario, runs on a no-fault insurance system. This doesn't mean you'll never be deemed at fault after an accident. Instead, it means you'll only be filing accident claims with your own insurance company for the compensation of your losses – regardless of fault. The idea behind a no-fault auto insurance system is that the claims process can be streamlined and drivers will receive their payout as early as possible. On the contrary, a tort-based system means that drivers need to sue for compensation which undoubtedly, can take much more hassle and time. 

Car insurance across Ontario is also provided by private insurance carriers and regulated by the Federal Services Regulatory Authority of Ontario (FSRAO). This ensures that rate increases are substantiated; simply put, car insurance companies can't just increase rates on their own – increases need to be backed up with financial records and approved by the regulatory body. 

With the many options available, it's important to research the best auto insurance company for your needs. You'll want to learn more about car insurance in Toronto before you secure your policy – and we can help you do exactly so. 

Mandatory types of car insurance in Toronto

Car insurance is mandatory in Toronto – a standard policy includes the four following types of coverages. If you want protection for your personal vehicle, consider enhancing your policy with optional coverages.

Third-party liability


Accident benefits


Uninsured motorist


Direct compensation property damage


Optional types of car insurance in Toronto

The below coverages are all optional on a Toronto car insurance policy (unless you lease your vehicle and your lender requires it). It's a good idea to protect newer cars with these add-ons as the cost to repair or replace your vehicle will be much higher.

Collision


Comprehensive


Specified perils


All perils


Emergency roadside assistance


Endorsements


How much is car insurance in Toronto?

While the average cost of car insurance in Toronto is roughly $2,000 per year (or $170 per month), you could be paying more or less, depending on your personalized factors. To find the exact price of your policy, be sure to compare auto insurance quotes with us today.

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Average cost of car insurance in Toronto

It's no surprise that auto insurance rates have been on the rise. With ongoing inflation, vehicles have become more expensive to repair and replace, therefore increasing the cost insurers need to payout when settling a claim. Not only that, but the added factor of pandemic-related discounts – back when insurance companies lowered premiums due to less driving – has only widened the gap between past car insurance rates and the rates we're seeing on the market today.

Here are two graphs, one outlining the average Toronto car insurance rates from Ratehub.ca users over time and the other outlining the change in this data. We found that rates increased by about 33% near the end of 2022 when compared to the previous year. While the numbers shown in the first graph tend to lean on the higher end when compared to the industry average, this is likely due to the customer base of comparison shoppers. Young drivers who are less experienced (as well as those with previous driving convictions) typically pay the most expensive car insurance rates. This doesn't mean you won't be able to find cheap coverage with us – we help thousands of Canadians save on auto insurance each year. 

Compare cheap Toronto car insurance quotes

It takes less than five minutes – your best Toronto car insurance quote is just a few clicks away.

Factors that impact your Toronto car insurance rates

Although an insurance application is fairly standard, you'll find that different insurers offer different rates based on own calculations – here are seven factors auto insurance companies take into account before offering a personal car insurance quote in Toronto.

Driver demographics


Location


Vehicle type


Driving history


Driving activity


Type of coverage


Applicable discounts


Car insurance companies in Toronto

Here are some of the best car insurance companies in Toronto. Keep in mind that the best provider for yourself will differ – you'll want to select the insurer that offers all the coverage options you need for the lowest rate possible. Compare Toronto auto insurance quotes with us today to find the right one for you.

Company

Address

Phone

Aviva Canada

100 King St. W, Toronto, ON M5X 1E3

1-800-387-4518

CAA 

106 Spadina Ave., Toronto ON M5V 2K4

416-664-2040

Economical

121 King St. W Suite 1400, Toronto, ON M5H 3T9

1-800-268-8801

Intact Insurance

700 University Ave., Toronto, ON M5G 0A1

416-341-1464

RH Insurance (Brokerage)

20 Queen St. W Suite 1101, Toronto, ON M5H 3R3

1-888-616-1868

RSA Canada

18 York St. Suite 800, Toronto, ON M5J 2T8

416-366-7511

SGI Canada

10 Four Seasons PI Suite 200, Toronto ON M9B 6H7

1-877-844-8460

Travelers Canada

165 University Ave., Toronto ON M5H 3B9

416-362-9918

Wawanesa Insurance

4110 Yonge St. Suite 100, North York, ON M2P 2B7

1-800-268-7300

How to get cheap car insurance in Toronto

  1. Shop & compare

    Research which company provides the best coverage options for your needs for the best rate possible. Premiums may change up to four times a year, but lucky for you, comparing Toronto car insurance quotes with us is free.

  2. Bundle insurance products

    If you use the same insurance company for both your home and auto insurance needs, your insurer will thank you with a dip in premiums.

  3. Stay loyal

    Some Toronto auto insurance companies will give loyalty discounts to drivers who remain active with them for several years – especially if you add family members or multiple vehicles to the policy.

  4. Get a multi-car discount

    If you have multiple cars (or multiple drivers) within one household, putting everything under one policy can bring big savings.

  5. Install winter tires

    Roads get slippery in the snowy Toronto winter. You can save up to 5% off your car insurance premium, simply by installing winter tires – and of course, the added safety is a plus.

  1. Increase your deductible

    Your policy deductible is the share you'll need to pay before your insurer foots the rest of your claim's expenses. It's a balancing act – if you're willing to set your deductible higher, you'll see lower an insurance premium.

  2. Pay annual premiums

    Paying monthly premiums adds to your insurer's administrative costs, so if you’re able to pay in full annually, you can lower your car insurance rate.

  3. Maintain a clean driving record

    Car crashes stay on your insurance record for up to ten years and typically result in higher premiums. So stay safe on the roads – not just for physical self but also for your financial self.

  4. Just ask about discounts

    You never know how much you can save until you ask. Being a member of an organization or special alumni can also bring down your car insurance rate.

Still looking for Toronto car insurance?

You're looking at the right place. Get personalized auto insurance quotes from top providers across the city, all in one instance.

Frequently asked questions

Why is Toronto car insurance so expensive?


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What are the best insurance companies in Toronto?


Matt Hands, Business Director of Insurance

With 6+ years of experience at Ratehub.ca, 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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