Car insurance is needed by anyone who has a car. It can save you a lot of money if you are in an accident, the car is stolen or gets damaged. Read more to find out about cheap car insurance in Ontario…
All drivers that are related to you in your household must be reported for insurance purposes. This will affect your insurance rate somewhat depending on the age of the other drivers. Teenagers will be more expensive to insure while those over 25 are generally cheaper to insure.
Financial Services Commission of Ontario regulates insurance for cars, credit unions and pension plans. Their website has answers to most insurance questions including how to understand rates and insurance policies. Insurance rates vary on where you live, your age and what kind of car you drive.
Car Insurance is a simple website where you can get an insurance quote quickly. Simply input your zip code, name, phone number or e-mail and you will receive a quote from an insurance broker.
The website Insurance Hotline is an easy way to get a quote. Simply fill out a three page questionnaire about your car, when you were insured and when you received your license. A quote will instantly appear on the last page. For example, a person who is 24, who has a decent car, a 2002 Honda Civic, drives 20 km one way to work or school and 20,000 km driven per year has an insurance quote of about $197 per month. This insurance covers $1,000 collision and $1,000 comprehensive for one primary driver in Toronto, Ontario. Another example is a 32 year old male driver who has a 2011 BMW and drives a short distance to work in East York the insurance quote is only $168 per month. This insurance policy covers the same as the aforementioned quote.
If a parent has a teenager on their policy the rates will go through the roof. A driver in North York with a 2005 Hyundai Accent, who does not drive very far to get to school or work and has a teenager on their insurance policy could expect to pay $619 per month.
As you get older, insurance rates should go down. For people in their 30’s car insurance is about $128 per month, while it is $124 per month for 40 year olds. If you are 50 and older it will cost around $117 per month. 80 year olds have the lowest at $92 per month!
The city in Ontario with the most expensive auto insurance is Toronto due its large population and high number of auto insurance fraud cases. The cheapest area for auto insurance is Dryden, Ontario which has a population of about 8,000.