Cheap Car Insurance in Toronto: Best Auto Insurance Quotes

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Toronto's best car insurance savings

Are you shopping for car insurance in Toronto? Most drivers in Canada’s largest city are probably tired of paying excessive car insurance rates in 2024. We don’t blame you. We’re here to help you save with great rates on personalized coverage just for you.

So why does car insurance cost so much in Toronto? There are 6.2 million residents in the GTA, lots of traffic, the longest commutes, and the busiest highways in the country. This increases the risk of accidents, resulting in more expensive car insurance in Toronto.

Comparing car insurance quotes is the best way to lower your premiums. Located in Toronto, we are experts in auto insurance in the GTA. Our local advisors help Toronto drivers find the cheapest car insurance rates for the coverage they need. We'll compare quotes from the leading car insurance companies in Canada and help you get the most affordable rate.

Getting the best car insurance quote is quick and easy with ThinkInsure. Keep reading to learn more about car insurance in Toronto and how you can save more on your auto policy.

Toronto car insurance key takeaways

The average cost of car insurance in Toronto in 2024 is $2,400, a 9.2% increase from the previous year.
Auto insurance premiums in the city of Toronto are slightly less than the average rate in the GTA ($2,543) and over $400 higher than the provincial average ($1,927).
Toronto has cheaper car insurance than Brampton, Mississauga, and Newmarket. Comparing car insurance quotes is the best way for Toronto drivers to save on their auto coverage.

How to get cheap Toronto car insurance quotes

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Car insurance in Toronto and how it works

Cars are waiting for a traffic signal around Flatiron Building in downtown Toronto

Each province sets car insurance rules. In Ontario, these rules are in Ontario’s Insurance Act. Toronto follows the same rules as all other cities in the province. Here are the basics:

Mandatory insurance: All drivers require car insurance. You cannot drive without it. If caught driving without insurance, you face a licence suspension and fines of up to $50,000.
Licensing: You must be a resident and have a valid Ontario drivers licence.
Minimum requirements: You must have a minimum amount of insurance. This includes third-party liability, statutory accident benefits, and uninsured automobile coverage. You can add extra insurance for collision, comprehensive, and more.
Private insurance: Policies are issued through private insurance companies. You can get coverage through a broker, insurance agent, or direct writer.
No fault: No fault insurance applies. You deal with your insurance provider.

Who regulates car insurance in Toronto?

The Financial Services Regulatory Authority of Ontario (FSRAO) is an independent regulatory agency that oversees car insurance in Ontario.

It’s part of the Ontario Ministry of Finance. They oversee close to 300 insurance providers in the province.

What is the minimum amount of car insurance required in Toronto?

All drivers must have at least $200,000 in third-party liability. While this is the minimum, the vast majority have significantly higher limits. This protects them if something bad happens, like an accident, fraud, crime, theft, or other covered dangers. This is especially true in highly populated regions, where collisions are more common. Most have at least $1 million in liability.

Recent Toronto auto insurance quotes

2024/12/24

Shopper in TORONTO, ON
Vehicle: BMW 530e xDrive 4DR AWD 2020
CAA My Pace	$1,558
SGI Canada	$2,800
Aviva Journey	$2,884
Aviva	$3,202
Savings from top 4 cheapest quotes	$1,644

2024/12/23

Shopper in TORONTO, ON
Vehicle: MITSUBISHI RVR LE 4DR 4WD 2022
Travelers	$2,143
Aviva Journey	$2,271
Intact	$2,433
Aviva	$2,522
Savings from top 4 cheapest quotes	$379

5 star reviews for car insurance in Toronto

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Kevin St Clair

2024-11-28

Betsy was a genuine pleasure to deal with considering the circumstances. Thanks again for all your help

Anthony Gomez

2024-11-27

Today, I want to take a moment to recognize Monica Chan, an exceptional insurance broker who has consistently gone above and beyond in her service to me. Monica's dedication to punctuality and consideration has been truly remarkable. She has always been prompt in responding to my inquiries and has never hesitated to offer her expertise and guidance. With Monica as my broker, I have never once felt worried about anything going wrong. Her proactive approach and attention to detail have provided me with peace of mind, knowing that my insurance needs are well-taken care of. Throughout our interactions, Monica has been incredibly helpful, patiently explaining complex insurance concepts and ensuring that I fully understand my coverage options. I wholeheartedly recommend Monica Chan to anyone seeking an insurance broker who genuinely cares about their clients' best interests. Her commitment to excellence and her willingness to go the extra mile make her an invaluable asset in the insurance industry.

Phyllis Baker

2024-11-20

Absolutely amazing service the broker Todd worked on my quote fast I recommend this company to anyone very professional I’m so glad I called them .. Thank you for your great work

Charles Cameron

2024-11-15

Betsy Bannon has been nothing short of amazing at helping us through the complex process of acquiring business insurance. She quickly understood our needs and expertly guided us to the right solution. From start to finish, she made us feel like her most important client which gave us the confidence that we were in great hands. We highly recommend Betsy!

Jermaine M

2024-11-05

I had a great experience with Patrick Vuong. He went above and beyond to help me update last minute changes to my policy in order to qualify for a government grant. Staying back late and coming in early the next day to help finishes the changes. Very kind and professional!

Mark Gaffney

2024-11-05

Betsy Bannon is a professional extremely friendly and knowledgeable and made my experience wonderful! Highly recommend her for any insurance needs. Mark Gaffney

fabian ward

2024-11-04

Great service! Prompt and very helpful! Thanks to Todd allan for really helping me out!

Stephen Mcfadden

2024-11-01

Great experience working with Sohel Rahman, appreciate his honest and can-do attitude. Highly recommend!

Mandatory car insurance in Toronto

You must have a minimum amount of mandatory auto insurance to drive. There are four main types of coverage included in your policy:

Third-party liability (TPL): Covers liability claims against you from an at-fault accident. Basic plans have $200,000 in TPL. Most have $1 million or more in coverage. Insurers typically offer you several coverage limit options.
Direct compensation property damage (DCPD): DCPD covers damage for accidents when you are not at fault. It also covers loss of use. For example, if you are waiting at a light and get rear-ended by another motorist. This is part of the no-fault system. As of January 1, 2024, drivers will have the ability to opt out of this coverage using OPCF 49.
Accident benefits: Accident benefits cover the driver and passengers if injured. It also applies to pedestrians and cyclists. Statutory accident benefits coverage ensures you receive medical care. It covers costs that are above what OHIP supplies. It also helps with attendant care, rehabilitation, and lost income costs. Limits apply and can be increased.
Uninsured motorist: This is also known as uninsured automobile coverage. It covers you if you are injured by an uninsured driver or in a hit-and-run. Standard coverage is $200,000, but this amount can be increased.

Optional auto insurance in Toronto

There is also additional protection you can add to your auto insurance policy. The most common options people add are collision, comprehensive, and specified or all perils. With the heightened threats of such a busy city (accidents, fraud, theft), most people get extra protection to ensure they're covered. Here are the most common types of additional coverage you can get:

Collision coverage: This one is pretty straightforward. You have protection if you are involved in an accident with another vehicle or an object (e.g., a tree, street sign, or light post).
Comprehensive coverage: This protects you from loss or damage from non-driving events. Coverage includes theft, vandalism, falling objects, and damage from the weather (wind, hail, flooding).
All perils: This combines collision and comprehensive. You have protection for all perils unless they are expressly excluded.
Specified perils: Your policy protects all the perils listed. Anything listed is covered. This is more affordable than comprehensive while still providing most of the protection.
Emergency roadside assistance: Get roadside assistance when you need it. Many insurers offer this as part of their policy or as an add-on. Some services include towing, battery boost, flat tire, and more.

Customize your policy with optional insurance endorsements

You can personalize your plan even more by adding insurance endorsements. You can add one or multiple, depending on your preference.

Adding an endorsement will slightly increase your premiums and provide additional protection. Some of the types of coverage you can add to your policy include:

Agreed value of automobiles (OPCF 19A): Insurers agree to pay a specific amount if your vehicle is a total loss.
Transportation replacement: Covers rental car insurance and transportation if your vehicle was stolen or while getting repaired.
Rental car coverage (OPCF 27): Coverage for when you drive vehicles that are not your own, such as a rental car.
Accident forgiveness (OPCF 39): Protects your driving record after your first at-fault accident.
Waiver of depreciation (OPCF 43): Insurers cannot deduct depreciation from your vehicle's value when making a claim.
Family protection (OPCF 44R): Covers you or your family if you are injured, even if you’re not in the car when the accident happens.

What is the average cost of car insurance in Toronto?

To no one’s surprise, Toronto has some of the highest car insurance rates in the province. According to our 2024 customer car insurance quote data, Toronto's average rates are $2,400**, a slight 9.2% increase from 2023 ($2,225).

Here’s a Toronto car insurance premium breakdown by different time frames:

Annually: $2,400
Semi-annually: $1,200
Quarterly: $600
Monthly: $200
Weekly: $46.15
Daily: $6.57

Rates are slightly less than the GTA's overall average. Based on FSRAO data from June 2024, the average cost of auto insurance in the GTA is $2,543. Where you live in the area can significantly impact how much you pay for insurance, especially in the GTA. A change in city or postal code can make a big difference.

Toronto car insurance rates by year

Car insurance premiums can fluctuate frequently, more so than in recent memory. We sourced quote data from our customers over the past five years, providing an overview of how premiums can change year by year.

As you can see, premiums are down in 2022 compared to 2019-2020. In 2021, there was a price dip because of pandemic discounts offered by companies. Fewer people were on the road, reducing the number of accidents and claims. In 2023 and 2024, we’ve seen prices start to creep back to pre-pandemic levels. Auto insurance costs are still much higher in Toronto than the provincial average of $1,796. Below, you’ll see how rates have changed year over year:

Year	Average annual premium
2024	$2,400
2023	$2,225
2022	$2,103
2021	$2,097
2020	$2,322
2019	$2,282
Average rate (2019-24)	$2,238

Toronto car insurance rates by driver type

The category you fit into can affect your car insurance rates. Your age, gender, marital status, and driving record are all factors insurers use to assess you as a driver.

We examined our customer quote data to see how different factors impact your costs. Here’s what we found:

Drivers under 25 years old pay $200+ more than the city average.
Being in the high-risk insurance category increases your rates by 243%.
Mature drivers over 50 have the lowest premiums. They pay close to $400 less than the city average.
Men pay more than women. Single people pay more than married couples. But not by a significant margin.
Tickets, accidents, suspensions, and policy cancellations will significantly increase your rate. You could see an increase from 6% to 40% for one infraction.

	Premium	Monthly	Difference
Driver type
All drivers	$2,400	$200	0
Young (25 and under)	$2,664	$222	11.00%
Middle age (25 - 50)	$2,491	$208	3.79%
Mature/senior (50+)	$2,024	$169	-15.67%
High risk	$8,232	$686	243.00%
Demographics
Male	$2,443	$204	1.79%
Female	$2,300	$192	-4.17%
Married	$2,260	$188	-5.83%
Single	$2,467	$206	2.79%
Driving record
Clean driving record	$2,400	$200	0.00%
1 ticket within the past 3 years	$2,529	$211	5.38%
1 accident in 3 years	$3,229	$269	34.54%
1 cancellation in 3 years	$2,677	$223	11.54%
1 suspension in 3 years	$2,598	$217	8.25%

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Are car insurance rates in Toronto higher than in other cities?

Toronto has more expensive car insurance rates than most cities in the province. It consistently ranks in the top 10 of the most expensive cities. Premiums cost about 138% of the provincial average.

The graphic below shows that Mississauga and Brampton have higher premiums. Auto insurance costs in the GTA are much higher than in most cities.

According to data from FSRAO, GTA auto insurance rates are $2,543 on average (As of June 2024). In other urban areas, it is $1,842; in rural areas, it is $1,521. Costs are significantly cheaper in smaller cities throughout the province.

Average Toronto car insurance rate compared to other Ontario cities info graphic

City	Average Rate
Brampton	$2,931
Greater Toronto Area (GTA)	$2,543
Markham	$2,330
Mississauga	$2,531
Toronto	$2,400
Hamilton	$2,396
Kitchener	$2,186
London	$2,225
Barrie	$2,347
St. Catharines	$1,931
Windsor	$2,148
Ottawa	$1,827
Sudbury	$1,866
Thunder Bay	$2,656

****

What parts of Toronto have the cheapest car insurance?

Location, location, location. Where you live within the city can affect how much you pay for car insurance by hundreds of dollars annually. Insurers assess your postal code and neighbourhood.

We sourced our quote data to see how costs differ by area. Based on our findings Downtown and East Toronto were the cheapest. The York area is the most expensive. See a breakdown here:

Area in City	Postal Codes	Neighbourhoods	Average Premium
Downtown Toronto	M4W, M4X, M4Y, M5A, M5B, M5C, M5E, M5G, M5H, M5J, M5K, M5L, M5S, M5T, M5V, M5W, M5X, M6G	Rosedale, Cabbagetown, Harbourfront, Regent Park, Kensington Market, Chinatown	$2,308
East Toronto	M4E, M4K, M4L, M4M	The Danforth, The Beaches	$2,098
West Toronto	M6H, M6J, M6K, M6P, M6R, M6S	Dufferin, Dovercourt Village, Little Portugal, Trinity, Parkdale Village, Roncesvalles	$2,526
Central Toronto	M4N, M4P, M4R, M4S, M4T, M4V, M5N, M5P, M5R	Lawrence Park, Davisville, Summerhill, Forest Hill, Deer Park, Roselawn, The Annex, Yorkville	$2,516
Etobicoke	M8V, M8W, M8Y, M8Z, M9A, M9B, M9C, M9L, M9M, M9N, M9P, M9R, M9V, M9W	Mimico, The Kingsway, Rexdale, Martin Grove Gardens	$2,633
Scarborough	M1B, M1C, M1E, M1G, M1H, M1J, M1K, M1L, M1M, M1N, M1P, M1R, M1S, M1T, M1V, M1W, M1X	Port Union, Golden Mile, Cliffside, Scarborough Town Centre, Wexford	$2,667
York	M6C, M6E, M6M, M6N	Cedarvale, Fairbanks, Humewood, The Junction	$2,725
North York	M2H, M2J, M2K, M2L, M2M, M2N, M2P, M2R, M3A, M3B, M3C, M3H, M3J, M3K, M3L, M3M, M3N, M4A, M5M, M6A, M6B, M6L	York Mills, Willowdale, Downsview, Don Mills, Victoria Village, Glencairn	$2,696
East York	M4B, M4C, M4G, M4H, M4J	Parkview Hill, Woodbine Heights, Leaside, Danforth, Thorncliffe Park	$2,625

Toronto car insurance rates by vehicle brand and model

The vehicle you choose to drive will play a role in determining your car insurance rates. By how much? We compared customer quotes by vehicle brand and top models. This lets you know how much premiums can change based on your vehicle.

Premiums by brand

Here is a breakdown of the average premiums for the top vehicle brands driven in the city. Subaru and Chevrolet top the list with the lowest rates.

Vehicle brand	Average premium	Monthly payment
Honda	$2,494	$208
Toyota	$2,171	$181
Ford	$2,447	$204
Hyundai	$2,592	$216
Kia	$2,483	$207
GMC	$3,377	$281
Chevrolet	$1,543	$129
RAM	$2,826	$236
Dodge	$2,826	$236
Jeep	$2,690	$224
Subaru	$2,094	$175
Mazda	$2,347	$196
Nissan	$2,288	$191
Volkswagen	$2,295	$191
Mercedes	$2,370	$198
BMW	$2,267	$189
Tesla	$2,845	$237
Audi	$2,827	$236
Lexus	$2,463	$205

Premiums by model

We compared some of the most popular models to see how much premiums differ. The table below shows compact car models like Sentra and Prius, which cost millions of dollars less annually to insure.

Vehicle model	Average premium	Monthly payment
Honda Civic	$2,113	$176
Toyota Corolla	$2,812	$234
Hyundai Elantra	$2,543	$212
Nissan Sentra	$1,692	$141
Tesla Model 3	$2,929	$244
Mazda 3	$2,531	$211
Toyota Prius	$1,982	$165
Ford F 150	$2,269	$189
Toyota RAV4	$2,241	$187
Nissan Rogue	$2,366	$197
Jeep Grand Cherokee	$1,905	$159

What factors determine how much your Toronto car insurance will cost?

Car insurance prices in Toronto are calculated using many different factors. Your rate can vary significantly based on these considerations and the information you provide. Here are the main factors insurance companies use to calculate rates:

The type of vehicle you drive: Car, SUV, truck, hybrid, van, or compact. The option you choose could increase or decrease your payments. Why? Some are bigger targets for theft. Others have higher repair costs.
Licence class: Your licence type matters - G1, G2, G. You’ll pay less as you progress through the Ontario graduated licence system.
Vehicle use: Do you drive for business or work? Do you drive Uber or Lyft? Using your vehicle other than for personal purposes will increase your risk and rates.
Your personal profile: Age, gender, and marital status all matter. Generally, more experience and stability make you less of a threat.
Your address: Postal code, neighbourhood, and region impact the chance of you getting in an accident based on claims statistics. Theft, fraud, road conditions, and other threats are assessed by insurers when setting premiums.
Your driving habits: Length of your daily commute and kilometres driven. The more you drive, the greater the risk of a claim.
Coverage: Limits, endorsements, deductible amount, and the number of people on the policy. Try to find a policy that accommodates your protection needs without raising your rates.
Experience behind the wheel: Years licenced, driving record, tickets, fines, and licence suspensions. A few blemishes on your record could spike how much you pay for coverage.
Insurance history: Years insured and previous claims history. Experienced and claims-free drivers will always pay less.
Applicable discounts: Whether or not you qualify for certain discounts. For example age discounts such as for over 50 drivers, alumni or association discounts.
Secondary drivers: Adding a secondary driver to your policy can have a big impact on your rates.

Toronto car insurance FAQs – get answers to commonly asked questions

How do I get cheap monthly car insurance in Toronto?

It’s important to compare car insurance quotes frequently to get cheap rates in Toronto. You should shop around every year.

Your insurance policy is in effect for one calendar year from its renewal date. So, you have an opportunity each year to compare Toronto car insurance premiums. You can see which provider has the best offer for you.

Some years, it may be your existing employer. Other years, it may be another. But you won't know for sure if you don't take the time to compare your options.

But you will only know for sure if you take the time to compare your options.

Why is Toronto auto insurance so expensive?

Auto insurance in Toronto is expensive compared to other cities in the province. Why is this the case? Here are the top 5 contributing factors:

Lots of vehicles and traffic volume: Traffic congestion is an everyday occurrence in the GTA. Toronto has some of the busiest roads and highways in the world. This includes Highway 401, QEW, and Gardiner Expressway, to name a few.
More accidents: More cars equals more accidents on city roads and highways, which increases the frequency and costs of claims.
More tickets and violations: There are more drivers with tickets, fines, and accidents on their driving record. This increases the threat of a claim for everyone.
An increased occurrence of auto theft: Auto theft rates have increased significantly in 2023.
Insurance fraud: Insurance fraud costs the insurance industry well over $1 billion annually.

Each of these factors contributes to increased costs. Insurance companies constantly change their rate calculations based on these factors. Get a quote often to ensure you are getting a cheaper price.

Who has the cheapest auto insurance in Toronto?

There isn’t a specific insurance company that offers cheaper rates than the rest. It depends on your unique situation.

You won’t know for sure who has the cheapest car insurance unless you compare quotes from multiple providers. For example, you may find that CAA offers you the best rates. But for another driver, Aviva or Wawanesa may have more affordable premiums.

Why do Toronto auto insurance rates change so often?

Car insurance rates change often for many different reasons. Insurance companies can apply for rate increases quarterly.

The FSRAO reviews the rate increase proposals and approves them. They assess current market conditions. A company can request an increase, and it might be approved because of:

The increased cost of claims: Insurers may request an increase because they’ve seen a spike in claims costs.
More collisions on GTA roads: More collisions increase how much insurers have to pay out in claims.
The prevalence of fraud: Fraud and crime rates increase costs for everyone, including drivers.

They can also increase if your driving situation has changed. A ticket, accident, change of address, or even the loss of a discount could affect your rate.

Is having car insurance mandatory to drive in Toronto?

Yes. All drivers across the province must have auto insurance to drive. The fines for driving without insurance are steep. They start at $5,000 and can go up to $25,000 for first-time offenders.

Does adding a G1 or G2 driver affect my car insurance cost?

Adding a G1 driver may not affect your car insurance costs. They cannot be added as the primary driver and can only drive with a parent or experienced driver. If they use your vehicle, you need to notify your insurance company.

Once a G1 driver gets a G2 licence, you will see their rates increase. They can now drive solo. Young drivers are rated higher as they don't have much experience yet.

Ensure that new or young driver complete a driver education program to help offset the costs of adding them.

When should you check Toronto car insurance rates?

There are plenty of great opportunities to find cheap car insurance in Toronto. While renewal time is the most common, you don't have to wait until you receive your renewal notification to shop around. There are many other good times to check rates:

If you move: Location can have a big impact on the threats that exist to you as a driver.
Completion of a driver's training program: You'll qualify for savings upon completion of driving school.
Buying a new vehicle: Purchasing a new vehicle, or changing what you drive affects things like repairs and replacement costs.
When you are getting married: Social status can affect your rates. Make sure to update it with your insurer.
Your driving record has changed: Is a ticket coming off your record? Tell your provider. They can make sure it's not impacting your premium.
You can add or remove a secondary driver from your policy: Adding or removing a driver will alter your costs.
You qualify for new discounts: You can save money by checking rates to see if you qualify for new discounts.

Remember, you don’t need to wait until renewal time to shop around.

Where should I get a car insurance quote in Toronto?

Where you get a car insurance quote will affect your premiums, coverage options, and potential savings. There are three main options for Toronto drivers to get an auto insurance quote:

Direct writers or direct insurers can only offer a single rate from one company.
Comparison sites (aggregators, lead generation sites) offer quotes from multiple providers. However, they sell your information to a third party and don’t offer coverage directly.
Insurance brokers provide quotes and coverage from many companies. They help you find the best rate and coverage, and then you can buy a policy through them. You also have access to expert advice, knowledge, and customer service.

Therefore, using a broker like ThinkInsure, offers you better options, convenience, and savings potential.

What are some Toronto driving tips to help you save on insurance?

At any given time, you are only a crash or ticket away from more expensive car insurance rates. Whether you are a seasoned local or a tourist, you need the right policy and driving knowledge.

Here is some helpful advice for navigating the streets and highways safely:

Stay alert: There are many potential dangers on the city's roads. Watch out for pedestrians, cyclists, taxis, and other vehicles.
Avoid rush hour when possible: Before and after work have the most traffic volume. This increases your chances of being in a collision and seeing your rate increase.
Pass streetcars with caution: When streetcars come to a stop, and the doors are open, do not pass. At all stops, allow pedestrians to get on and off.
Watch for cyclists: There are many cyclists and bike lanes. Pay attention when opening car doors. Give one metre when passing a cyclist.
Take extra time when the weather is bad: It will take you longer to drive in poor conditions.
Expect construction delays: Road construction is ongoing, so be prepared for delays. Check things in advance so you can find the quickest route to your destination.
Know your route: Use a GPS for directions to avoid congestion and arrive at your destination. Also, be aware of alternative routes to save time.
Watch out for one-way streets: There are many one-way streets. Always be conscious of them and consider them when planning your route.
Parking: Expect to pay a lot for parking. Consider using a commuter lot and taking the subway or GO train into town.
Gas up: Fill up on gas before you head downtown. Gas stations are more expensive and less common.

15 tips to get the cheapest car insurance in Toronto

With auto insurance rates being high in Toronto and the GTA area it's important to save as possible. Here are some great tips to help you get the cheapest car insurance in Toronto:

1) Shop and compare

There are many insurance companies in Canada, and their prices change often. Shopping around allows you to compare quotes to see if you are overpaying. Get a quote today and see how much you can save.

2) Combine policies

Combine your home and auto insurance into a single policy. You will automatically qualify for savings of up to 20%. Combining is the best way to save.

3) Review annually

Renewal time is the perfect opportunity to look for new ways to save money. It is also a great time to update your information.

4) Take advantage of discounts

Things change, including the types of car insurance discounts you qualify for. Always ask about available discounts for additional savings.

5) Use winter tires

Winter driving can be challenging and dangerous. By simply using winter tires, you can improve safety, have peace of mind, and save money.

6) Complete driver training

Completing a ministry-approved driver training program will help you obtain a better price. Make sure you tell your insurance company this to save more.

7) Increase your deductible

If you can afford to do so, raise your deductible to lower your rates. The more you increase your deductible, the more you will lower your auto insurance premiums.

8) Good driving behaviour

Keeping your driving record clean is one of the most effective ways to save. Driving safely will save you money now and in the future.

9) Drive a safe vehicle

The type of vehicle you drive matters. Look for vehicles with a strong safety rating, lower repair costs, and security features.

10) Don't miss payments

Missing a payment can affect your rates. If you consistently miss payments, your insurer could cancel your policy. You could save even more by paying in full instead of monthly.

11) Park in a private garage or driveway

If possible, park in a private garage or driveway. This makes your vehicle less likely to get stolen, damaged, or vandalized.

12) Go electric

Some insurers offer a green discount for people who drive hybrid or electric vehicles. Electric car insurance rates depend on the vehicle.

13) Usage based insurance

You can save up to 25% when you use a telematics device to monitor your good driving habits. A number of insurers offer usage-based insurance programs. They include Intact My Drive, CAA MyPace, Aviva Journey, Travelers IntelliDrive, and Pembridge My_BRIDGE.

14) See if you qualify for a group rate

If you belong to a certain group (employer, school, association), you could save. Check out your options to see if there are cost-saving opportunities.

15) Add safety devices

Vehicle theft is an issue in Toronto. Adding insurer-approved anti-theft devices can qualify you for savings.

Toronto car insurance companies

A car insurance company doesn’t need to be in Toronto for you to get a quote or coverage. But it doesn’t hurt to have your insurer close by. Some of the best car insurance companies have their head office located in the city. They include:

Aviva - 100 King St. W., Toronto, ON M5X 1E3
CAA Insurance - 106 Spadina Ave., Toronto ON M5V 2K4
Intact - 700 University Ave., Toronto, ON M5G 0A1
Economical - 121 King St. W. #1400, Toronto, ON M5H 3T9
Travelers - 20 Queen St. W., Toronto, ON M5H 3R3
Wawanesa - 4120 Yonge St., Suite 100, North York, ON M2P 2B7
SGI Canada - 10 Four Seasons PI Suite 200, Toronto ON M9B 6H7
Gore Mutual - 320 Bay St, Toronto ON M5H 4A6

ThinkInsure is also located in the city, which is convenient for Toronto drivers and our local insurance company partners. We can assist you in person if needed. We are located at:

5700 Yonge St., Suite 1900
Toronto, ON
M2M 4K2

There are also many more of our partners found across the GTA. ThinkInsure has a big advantage over a direct insurance company. We can help you find the cheapest rates from all the insurance companies listed above and many more.

How driving in Toronto affects auto insurance

Toronto is a very busy city with a lot of traffic, world-class sights to see, and places to go. According to Census data, The GTA is home to some 6.2 million people, with more than 2.7 million residing in Toronto. There are over 2.5 million daily commuters on roadways and public transportation.

The segment of Highway 401 that passes through the city is the busiest highway in North America and one of the widest and busiest in the world. In some sections, AADT (Average Annual Daily Traffic) exceeds 400,000 vehicles.

The city has 9,250 different streets, 160 street intersections, and 2,231 traffic control signals over 5,617 km of streets. Road conditions can change quickly, creating accidents and congestion. All have a big impact on car insurance rates. Greater risk means premiums are more expensive in the city.

Here is some great information about the city and driving in it.

Major highways

401, 404, 407
QEW
Don Valley Parkway
Gardiner Expressway

Public transit

TTC (Subway, Bus, Streetcar)
Metrolinx GO Transit

Toll roads

407 ETR

Ride-sharing

Uber
Lyft

Road trips

Niagara Falls, Niagara On The Lake
Muskoka cottage country
Bruce Peninsula National Park
Blue Mountain

Parking

City of Toronto Parking
Green P
Impark
Private lots

Top attractions

CN Tower
Royal Ontario Museum (ROM)
Art Gallery of Ontario (AGO))
Ripley's Aquarium Of Canada
Toronto Islands

Busiest intersections

Lake Shore Boulevard East & Lower Sherbourne Street
Finch Avenue West & Norfinch Drive/Oakdale Road
Finch Avenue West & 400 South Finch Westbound Ramp
Finch Avenue West & 400 North Finch Eastbound Ramp
Finch Avenue West & Signet Drive/Arrow Road

Airports

Pearson International Airport
Billy Bishop Toronto City Airport

Car insurance and Toronto driving conditions

Road conditions in Toronto are similar to auto insurance rates in the sense they vary greatly. Things can change at a moment's notice throughout the year in the city. From hot sunny days to frigid snow-filled roads, you never know what you can expect.

Having good coverage helps manage the unexpected. So does checking the forecast and road conditions to prepare for your daily drive.

56 mins

Avg. daily commute time

831 mm

Avg. annual rainfall

121.5 cm

Avg. annual snowfall

114

Rainy days per year

Heat warnings in 2022

Snow days per year

*****

Common Toronto car insurance myths

It can be challenging to separate fact from fiction when reading about Toronto car insurance online. Here are some of the most common myths:

Myth 1: Toronto has the most expensive car insurance rates

Toronto does not have the most expensive rates. While it typically appears in the top 5, other cities within the GTA have higher rates.

Myth 2: There are no affordable areas in Toronto for car insurance

Sure, auto insurance is expensive, but this doesn’t mean all areas in the city are the same. Some regions within the city are much more affordable than others.

Myth 3: It's the highway driving that makes auto insurance rates higher

It’s not the highways that increase rates. It's the accidents and traffic volume that contribute to higher premiums.

Myth 4: All Toronto insurance companies charge the same rates

Nope. Insurers rates can vary by hundreds of dollars per year. This is why it’s so important to compare quotes regularly. If you don't, you could be overspending on insurance.

How to file a car insurance claim after an accident in Toronto

Toronto is a city with high accident rates. Drivers need to know what to do if they need to file a car insurance claim. After a collision occurs, you should:

Ensure there are no injuries
Report the accident if there is more than $2,000 in damage.
Contact the police if you suspect illegal activity (fraud, DUI, careless driving)
Move your vehicle to the side of the road if it’s safe to do so
Exchange insurance and vehicle information with the other driver
Take photos to document the damage
Visit the where the accident occurred. There are more than 30 reporting centers in the GTA.
Call for a tow truck if required to take your vehicle to the reporting centre
Call your advisor or insurer to start the claims process

If you are an existing ThinkInsure customer, you can use our claims services for assistance.

Finding the best Toronto car insurance rates is easy!

With ThinkInsure, you can compare quotes online from our large selection of auto insurance companies in Toronto and save money. You'll be able to find the best rates in just a couple of minutes.

You can save even more by speaking with one of our advisors. They'll make sure you obtain proper coverage while ensuring you save as much as possible.

Get Started

Sources

* Based on the difference between the average lowest premium and the overall average premium in Toronto for estimates completed from January 1 to August 15, 2024, for drivers with a clean driving record.

** ThinkInsure quoter data for drivers with a clean driving record living in Toronto from January 1 to August 15, 2024.

*** ThinkInsure customer quoter data from January 1 to August 15, 2024, to decide how rates differ based on driver type, demographics, and driving record.

**** ThinkInsure customer quoter data from January 1 to August 15, 2024. Drivers with a G licence, clean driving record, and standard coverage.

***** https://en.wikipedia.org/wiki/Geography_of_Toronto

++ https://toronto.ctvnews.ca/these-are-toronto-s-10-busiest-intersections-1.6233701

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15 tips to get the cheapest car insurance in Toronto

1) Shop and compare

2) Combine policies

3) Review annually

4) Take advantage of discounts

5) Use winter tires

6) Complete driver training

7) Increase your deductible

8) Good driving behaviour

9) Drive a safe vehicle

10) Don't miss payments

11) Park in a private garage or driveway

12) Go electric

13) Usage based insurance

14) See if you qualify for a group rate

15) Add safety devices

Toronto car insurance companies

How driving in Toronto affects auto insurance

Car insurance and Toronto driving conditions

Common Toronto car insurance myths

Myth 1: Toronto has the most expensive car insurance rates

Myth 2: There are no affordable areas in Toronto for car insurance

Myth 3: It's the highway driving that makes auto insurance rates higher

Myth 4: All Toronto insurance companies charge the same rates

How to file a car insurance claim after an accident in Toronto

Finding the best Toronto car insurance rates is easy!

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