February 9, 2023
What Is The Cheapest Insurance In Ontario

What Is The Cheapest Insurance In Ontario

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What is the cheapest insurance in Ontario? In Ontario, Esurance offers the most affordable auto insurance for full coverage and speeding drivers. Progressive has the cheapest state minimum coverage available anywhere, but if you’re in the military, USAA might be another affordable option. We choose the best overall auto insurance company AAA, with its balance between excellent customer service and affordability.

What Is The Cheapest Insurance In Ontario?

The cost of car insurance can vary widely based on several factors, including your age, the make and model of your vehicle, your driving habits, and the coverage limits you choose. This makes it difficult to determine the “cheapest” insurance option without knowing more about your specific situation.

With that being said, there are a few ways you can try to get the best car insurance in Ontario:

  • Search and compare quotes from multiple insurance companies.
  • Consider increasing your deductible, the amount you pay out of pocket before your insurance coverage kicks in.
  • Take advantage of discounts for things like a clean driving record, insuring multiple vehicles, or membership in specific organizations.
  • Consider lowering your coverage limits or removing optional coverage if you’re looking for a lower premium.

Keep in mind that the cheapest insurance option doesn’t always offer the best value. It’s important to think carefully about your coverage needs and the balance between cost and protection.

The Cheapest Car Insurance Companies In Ontario

The cheapest auto insurance companies in Ontario that offer widely available full coverage policies are:

  • Esurance: $1,053 per year
  • Progressive: $1,154 per year

Current or former military members and their families can purchase coverage from USAA, which offers the second cheapest average rate in the city for $1,102 per year.

Esurance is the most affordable option for Ontario drivers looking for comprehensive coverage. An Esurance policy costs 72% less than a policy from Allied, the most expensive insurer in Ontario. Full coverage policies are policies that include both comprehensive and collision insurance. Please note that your premium may vary for full coverage depending on the liability limits you select.

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The cheapest car insurance in Ontario

  1. Esurance – $1,053
  2. United States of America – $1,102
  3. Progressive – $1,154
  4. AAA $1212
  5. With Life – $1,339
  6. Mercury – $1,341
  7. GEICO – $1,361
  8. Statewide – $1,432
  9. Hartford- $1,544
  10. State Farm – $1,557
  11. Farmers – $1,604
  12. Travelers – $1,680
  13. Ally – $1,811

Based on our methodology, we derived average rates for a 40-year-old male driver with full coverage auto insurance.

Full coverage auto insurance is more expensive than a policy that only meets the state’s minimum requirements, but also includes comprehensive and collision insurance. This comprehensive coverage gives you extra protection against the cost of repairing damage to your vehicle.

Comprehensive Coverage – Pays for repairs to your car when it is damaged by a non-collision incident, such as fire, vandalism or a severe weather event.

Collision Coverage – This covers the repair of your car after a collision.

Having only liability auto insurance or minimum auto insurance may be a better option for drivers with older vehicles. This is because the premiums for whole insurance can add up to more than the replacement value of your car.

Cheapest Car Insurance In Ontario For Minimum Coverage

Ontario drivers looking for the cheapest insurance available can opt for a policy that meets only the state’s minimum requirements. The cheapest options for this coverage are:

  • Progressive: $473 per year
  • AAA: $539 per year

USAA has the cheapest average annual compensation at $446, but it’s only available to drivers who are members of the military. A progressive policy costs $356 less per year than the most expensive option, Farmers.

While it is the most affordable option, the minimum coverage does not include comprehensive and collision insurance. You may also have low liability coverage. All this means that you run the risk of not being fully covered in the event of an accident.

Check out the list below to see how rates change based on liability limits.

Cheapest minimum liability car insurance in Ontario

  1. United States of America – $446
  2. Progressive – $473
  3. AAA – $539
  4. Mercury – $559
  5. GEICO – $570
  6. Warranty – $581
  7. Travelers – $649
  8. With Life – $680
  9. Hartford- $747
  10. State Farm – $756
  11. All States – $799
  12. Ally – $823
  13. Farmers – $829

By law, drivers in California must have insurance that meets California’s minimum requirements for 15/30/5 liability coverage. Being the cheapest insurance, it can certainly save you money on the premium. The downside, however, is that you could end up paying significant amounts in the event of an accident.

For example, if you are at fault in an accident and the other driver’s medical bills total $25,000, your insurer will pay $15,000 of that amount. You would be responsible for paying the $10,000 balance.

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Cheapest Car Insurance In Ontario If You Have Any Violations

Any driving violation, from speeding tickets and DUIs to at-fault accidents, can lead to higher auto insurance rates.

The most affordable car insurance policies for Ontario drivers with violations are:

  • Cheapest after ticket: Esurance, $1,336 per year
  • Cheapest after an accident at fault: Esurance, $1,657 per year
  • Cheapest after a DUI: Mercury, $2,197 per year

USAA has the cheapest average annual rate at $1,204 for speeding drivers, but only members of the military are eligible under their policies.

Drivers with poor records may see lower premiums after improving their driving records over time. In the meantime, shopping around is the best way to find affordable insurance after a speeding ticket or accident.

Cheapest car insurance in Ontario with a ticket

  1. United States of America – $1204
  2. Esurance – $1,336
  3. AAA – $1,597
  4. With Life – $1,739
  5. Mercury – $1,757
  6. GEICO – $2,013
  7. Allstate – $2,031
  8. Farmers – $2,206
  9. Progressive – $2,208
  10. State Farm – $2,291
  11. Hartford – $2426
  12. Travelers – $2,516
  13. Ally – $2,541

Average Cost of Auto Insurance in Ontario

  • Ontario $1,424
  • California $1,429

The average auto insurance premium for a typical driver in the United States is $1,424 per year, while the average annual cost in California is $1,429. Ontario drivers pay an average of $1,424 per year, which means costs in this city are in line with state and state rates.

Personalized quotes for the cheapest car insurance in Ontario

Insurers take into account factors such as your age, gender, driving experience, location, and more. Therefore, you cannot rely solely on average rates. To determine how much you should pay for your specific situation, compare personalized insurance quotes to find out which company offers the best rates.

Best car insurance companies in Ontario

We analyzed the average rates, claim ratings, and user satisfaction scores of various auto insurance companies and found that the following insurers offer the best auto insurance in Ontario:

  • Esurance: 89 out of 100
  • AAA: 87 out of 100

Since USAA does not offer policies to non-military drivers, we do not include the company in this analysis. However, it received a score of 94 out of 100, making it the top auto insurance company in Ontario.

1. Esurance

Esurance’s full coverage policy costs an average of $1,053 per year. The company was ranked second in customer satisfaction, fifth in complaints and ranked highest in affordability. Covers custom parts.

Esurance offers many unique coverages with its policies, including roadside assistance, car rental and/or travel reimbursement, gap insurance, rideshare insurance, and custom parts coverage, unique coverage rarely offered by most insurers. With custom parts coverage, you’re covered for up to $4,000 for damage to aftermarket equipment installed in your cars, such as fancy sound systems, a custom grill, or an exhaust system. Your standard collision and comprehensive insurance do not cover these aftermarket upgrades.

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2. AAA

AAA ranks highest in customer satisfaction and complaints with the second highest score in affordability. On average, a full coverage policy costs $1,212 per year. The policies include identity theft coverage, a coverage option rarely offered by other providers.

AAA’s full coverage policies include coverages such as roadside assistance, car rental and/or travel reimbursement, and identity theft coverage. Identity Theft Coverage protects in the event of identity theft through real-time fraud alerts, social security number monitoring, fraud resolution support, and more. With roadside assistance coverage, AAA provides fuel delivery, flat tires, starting and battery replacement, and vehicle lockout service if you’re stranded on the road. Esurance car rental and/or travel expense coverage pays for rental or public transportation costs if your vehicle is undrivable.

Average car insurance costs by zip code

Where you live in Ontario affects your annual car insurance premium. This is because different neighbourhoods have different rates of auto theft, accidents, and uninsured drivers. In Ontario, drivers in the 91761 zip code pay about $90 more per year than drivers in the 91764 neighbourhood.

  • 91761 – $1,373
  • 91762 – $1,437
  • 91764 – $1,463

Factors Affecting Insurance Costs in Ontario

In addition to the individual driver’s needs and history, location-specific factors such as the percentage of uninsured motorists and the number of fatal accidents also contribute to Ontario auto insurance rates. Ontario’s ranking relative to the 300 most populous cities in the United States can have a significant impact on premium costs.

Conclusion – What Is The Cheapest Insurance In Ontario

What is the cheapest insurance in Ontario? The cost of auto insurance can vary widely depending on several factors, including your location, the type of vehicle you drive, your driving habits, and the coverage limits you choose. It is not possible to determine the cheapest insurance option in Ontario without considering these factors.