Tired of overpaying for your auto insurance premiums in Ontario?
Auto insurance is one of the most costly expenses associated with owning a car. As car insurance premiums continue to rise, many Canadians are reconsidering their current rates and actively searching for better deals.
Today, I’ll share some of the best car insurance companies in Ontario, so you can find better rates and get the most coverage for your money.
How To Compare Car Insurance At A Glance
Here are some of the key factors you should look at when comparing auto insurance policies and premiums:
- Deductible: this is the amount you have to pay out-of-pocket before the insurance company steps in and covers the rest
- Rental vehicle: some plans offer to partially or fully cover the cost of a rental vehicle if you’re in an accident or getting your car repaired after an accident
- Personal liability coverage + deductible: the amount that the other drivers and passengers are covered for if you’re “at fault” in an accident
- Personal medical costs + deductible: the amount that you are personally covered for if you need specialized medical care after an accident
- GAP coverage: this insurance add-on will pay off your remaining auto loan if your vehicle is declared a “total loss” after an accident
- Discounts: many insurers offer discounts for safe driving, military/first responder service, or for bundling your auto policy with other types of insurance
- Collision coverage + deductible: the amount of auto repair damage you’re covered for if you’re found to be “at fault” in a collision
- Severe weather protection: how much you’re covered for if your car is damaged in severe weather or extreme situations outside of your control
- Customer service: look for an insurer with good customer service that answers promptly, has low wait times on phone calls, and provides friendly, personal service
Along with these items, you should also carefully review any limits and exclusions in the policy. If you happen to find yourself in one of these “exclusions,” you’ll be out of luck and won’t be covered. You’ll often find this in the fine print of the policy details, but it’s important to read nonetheless.
Related Reading: The Average Cost Of Living In Ontario
Best Car Insurance Choices In Ontario
Now that you know a little bit more about how to compare auto insurance policies, here’s a look at our top picks for car insurance companies in Ontario.
1. Travelers – Insures Almost Any Vehicle
- Why It Stands Out: Rewards and discounts for being a safe driver
- Learn More: travelerscanada.ca
Travelers is arguably one of the most reliable car insurance providers in Ontario. It offers a comprehensive suite of auto insurance options to cater to varied customers
It extends coverage for a range of vehicles, including:
- Daily drivers
- Family trucks
- Collectors vehicles (which are often difficult to insure)
- Older-model cars (over 15 years old)
- RVs
- Off-road vehicles
- Motorcycles
The company has developed a strong reputation for excellent customer service, with 24/7 auto claim assistance available, so you’re covered no matter what time of day (or night) disaster strikes.
Travelers Canada also offers flexible payment options, which can help you budget. Customers can choose from lump sum, three instalments, or can make 12 monthly payments.
The company also offers safe-driver discounts, along with bundling deals if you insure multiple cars or purchase an additional home insurance policy with Travelers.
2. Allstate – Top-Notch Service And Customer Perks
- Why It Stands Out: Deductible lowers for each term you go without an accident
- Learn More: allstate.ca
Allstate Canada is one of Canada’s top insurance providers and is widely recognized for its quality service and tailored coverage options.
Allstate Canada is competitive in its pricing and offers a number of discounts, such as:
- Multi-car discounts
- Student driver discounts
- Bundle discounts
- Safe driving discounts
Allstate also offers several notable policyholder perks that really set it apart from other car insurance companies in Ontario, including:
- Disappearing Deductible: your deductible goes down each term that you don’t make a claim
- Ticket Forgiveness: you won’t be penalized for your first traffic ticket on the policy
- Claim Forgiveness: your first claim won’t affect your premium rates
This insurer also offers coverage for rideshare drivers, making it an excellent choice for those driving for Uber or Lyft and frequently carrying passengers in their cars.
The main criticism of Allstate is that it’s regarded as one of Canada’s more expensive car insurance companies. That being said, Allstate offers a number of ways to save money and has an outstanding customer service reputation. Many customers are willing to pay a little bit extra for the premium service and perks.
3. RBC Insurance
- Why It Stands Out: Retiree discounts and bundle deals
- Learn More: rbcinsurance.com
RBC is one of Canada’s most reputable banks. However, they also offer competitively-priced, easy-to-customize auto insurance policies in most provinces.
RBC is one of the largest mortgage lenders in Canada, and many homeowners also purchase their home insurance through RBC. When you bundle RBC home and auto insurance, you could save up to $715 per year on your combined policies, which is a great reason to consider RBC car insurance.
Some of its top perks include affordable rates, high-quality customer service, and an anonymous claims advice line, which provides impartial guidance even before filing a claim.
It also offers a preferred vendor program for vehicle repairs, which can help you save even more if you’re involved in an accident.
4. TD Insurance
- Why It Stands Out: Great discounts for policy bundling
- Learn More: tdinsurance.com
TD is another big-five bank that offers a wide range of personal and business insurance policies, including auto insurance.
TD reports that customers who switched both their residential and car insurance policies to TD Insurance reported an average annual premium savings of approximately 29%, thanks to TD’s excellent bundling deals.
Similar to Travelers and Allstate, the TD MyAdvantage program rewards safe driving habits with up to 25% discounts on premium renewal and offers a decreasing deductible perk for safe drivers, reducing eligible deductibles by up to 10% each claim-free year.
5. Desjardins Insurance
- Why It Stands Out: Discounts for drivers with a good record
- Learn More: desjardins.com
Desjardins is one of the top financial institutions and life insurance providers in Canada. They also offer affordable car insurance. Desjardins claims that drivers with a clean driving record save an average of $275 per year after switching from their previous policies.
The Ajusto app allows policyholders to track driving habits and earn rewards accordingly. Additionally, Desjardin’s Accident-Free Protection perk voids any premium increase after the first at-fault accident, and the $0 Deductible Option protects you against unexpected claim expenses.
6. Aviva
- Why It Stands Out: Customized policies and ridesharing insurance
- Learn More: aviva.ca
Aviva is one of the UK’s largest insurance companies and also serves Canada. To encourage loyalty, Aviva provides an opportunity for premium reductions of up to 20% when you renew your policy with them.
You can save even more if you use the Aviva Journey app, which tracks your driving habits and adjusts your premiums accordingly. The company offers customizable policies, with a range of add-ons, an available home insurance bundle, and insures rideshare drivers.
7. Jevco
- Why It Stands Out: Car insurance for high-risk customers
- Learn More: jevco.ca
Having trouble insuring your vehicle? If your driving record isn’t the best or you have a difficult-to-insure vehicle, Jevco is definitely worth looking into.
This auto insurer specializes in high-risk customers and non-standard auto insurance policies.
The only downside is that the company’s online platform is rather outdated. If you want to get a quote, you’ll need to search for a local broker in Ontario or call the company directly. There isn’t an easy-to-use online quote generator as you’ll find with larger insurance providers.
8. Beneva
- Why It Stands Out: Free rental vehicle while your car’s getting fixed
- Learn More: beneva.ca
Beneva auto insurance takes a people-first approach to its customers, offering distinctive perks and simple comprehensive coverage.
In addition to standard coverage, they also offer decreasing deductible, rewarding your claim-free years by reducing your deductible by $50 with each claim-free renewal.
Their policies also include a replacement vehicle service at no extra cost if your car needs repairs, something that most major policies charge extra for.
The downside is that you’ll need to get a personal quote by calling Beneva directly. You won’t find this company listed on any major comparison platforms and likely won’t see a bunch of ads either. Since the company doesn’t spend as much money advertising, it’s able to pass on more savings to its customers.
9. CAA Insurance
- Why It Stands Out: Pay-as-you-go premiums for low-mileage drivers
- Learn More: caasco.com
CAA is a popular roadside assistance program in Canada. Many customers aren’t aware that CAA offers affordable car insurance too.
One of the insurers standout features is the MyPace program. To my knowledge, it’s the only auto insurance payment program in Canada that offers a pay-as-you-go premium plan. This is ideal for low-mileage drivers, letting you pay for the distance you drive.
CAA is also partnered with a long list of major businesses throughout Canada, and policyholders can save up to 10% or more at select hotels, restaurants, recreational facilities, repair shops, retail stores, and more.
10. Intact
- Why It Stands Out: 30-minute claims processing
- Learn More: intact.ca
Intact offers personalized premiums through its innovative ‘my Drive’ program, which lets safe drivers save on their insurance by up to 25%.
One of the insurers most notable perks is its fast claims processing and response time. The company guarantees that a claims representative will initiate the claims process within 30 minutes of answering a call.
11. Wawanesa
- Why It Stands Out: Excellent customer service
- Learn More: wawanesa.com
Manitoba-based Wawanesa has been in business since 1896 and has since expanded throughout North America. From auto insurance to pet insurance, this company offers highly personalized plans and boasts top-tier customer service.
The disadvantage is that you’ll need to personally call the company to get a quote.
12. Pembridge
- Why It Stands Out: Covers a wide range of recreational vehicles
- Learn More: pembridge.com
Looking to cover your snowmobile, off-road vehicle, RV, or other difficult-to-insure automobiles? Pembridge specializes in covering recreational vehicles and collector’s cars larger insurance providers may turn down.
13. YouSet
- Why It Stands Out: Compare insurance quotes in minutes
- Learn More: youset.ca
Simply answer a few basic questions about your driving history and policy needs, and YouSet will provide you with a side-by-side comparison of real-time quotes generated from its insurance partners.
The best part is that you’ll begin receiving personalized offers within four minutes. The platform gets around 100,000 monthly users.
14. The Co-operators
- Why It Stands Out: Accident forgiveness
- Learn More: cooperators.ca
Saskatchewan-based insurance provider, The Co-operators, offers simple, customizable car insurance policies throughout Canada. This insurer provides safe driver discounts, accident forgiveness, and other perks to new customers.
15. Belairdirect
- Why It Stands Out: Save money with bundles of home and auto insurance
- Learn More: belairdirect.com
Belairdirect is a smaller auto insurance provider that offers great rates for customers who bundle their home and auto insurance. The company’s website claims that customers save an average of $500 per year on their policies when they bundle.
Belairdirect also offers up to 15% discounts for customers who insure multiple vehicles.
16. Economical
- Why It Stands Out: Affordable insurance for snowmobiles and other off-road vehicles
- Learn More: economical.com
Economical insurance insures daily drivers as well as other difficult-to-insure recreational and utility vehicles. This insurer provides discounts for policyholders with a clean driving record, continued safe drivers, multiple car policies, bundles, and more.
Economical also insures high-risk drivers and will work with customers to find a policy that fits their needs.
17. Echelon Insurance
- Why It Stands Out: Quality coverage for high-risk drivers
- Learn More: echeloninsurance.ca
Part of CAA Club Group, Echelon Insurance is a specialty insurer offering property and auto coverage for individuals and businesses, including high-risk drivers. They offer personalized services and sophisticated pricing analysis to new customers.
18. Sonnet
- Why It Stands Out: Discounts for Nissan and Infinity drivers
- Learn More: sonnet.ca
Sonnet is a 100% online insurance provider that offers a range of products, from landlord insurance to home and auto insurance. The company has high customer satisfaction ratings and offers exclusive discounts to drivers insuring their Nissan or Infiniti vehicles (very random, but a great feature nonetheless).
19. Onlia Insurance
- Why It Stands Out: Up to $600 cashback per year if you’re a safe driver
- Learn More: onlia.ca
Toronto-based Onlia is a small insurance provider that offers excellent deals to its customers. Most notably, safe drivers can receive up to $50 per month off of their policies for a total discount of $600 per year.
You can also bundle Onlia home and auto policies to save even more.
20. South Easthope Mutual Insurance
- Why It Stands Out: Bundle car insurance with farm insurance
- Learn More: southeasthope.com
Founded in 1871 by Canadian farmers, South Easthope Mutual Insurance has its roots in insuring hardworking farmers and their homes and vehicles. Today, the insurer provides the same grassroots customer service that it built its reputation on.
If you’re looking to bundle farm, home, and auto in one money-saving policy, this is definitely an insurer worth getting a quote from.
21. Unica Insurance
- Why It Stands Out: Auto insurance for high-end and collectors’ cars
- Learn More: unicainsurance.com
Having trouble insuring your Lamborghini, Ferrari, or Rolls Royce? Can’t find a policy for your timeless classic? Unica Insurance offers specialized, custom auto insurance policies for high-end cars that traditional insurers might turn their back on. Don’t worry, Unica can also cover your daily driver as well.
22. The Personal
- Why It Stands Out:
- Learn More: thepersonal.com
The Personal is a comprehensive insurance provider that offers pet, home, RV, motorcycle, auto, and even travel insurance.
Their website claims that customers can save over $1,000 when they bundle their policies together. If you’re looking for a one-stop shop for all of your insurance needs, The Personal is worth grabbing a quote from.
23. Surex
- Why It Stands Out: Free insurance quotes in under 10 minutes
- Learn More: surex.com
Surex is an online insurance brokerage platform that generates highly accurate quotes for home, auto, condo, and tenant insurance policies. It’s similar to YouSet but works with smaller insurance providers like Wawanesa, Aviva, and Pembridge.
24. SGI Canada
- Why It Stands Out: Available seasonal vehicle coverage
- Learn More: sgicanada.ca
SGI Canada offers a number of insurance products, including personal and commercial auto insurance.
One of this insurers notable features is that they offer seasonal vehicle coverage, which is great for Canadians who have a separate winter driving vehicle, snowmobile, or who keep their motorcycle garaged for the winter.
25. PC Insurance
- Why It Stands Out: Retiree discounts and cashback with the PC Mastercard
- Learn More: pcinsurance.ca
PC Insurance is an online brokerage that compares personalized home, auto, motorcycle, and tenant insurance policies for customers, depending on their needs.
PC also offers a Mastercard and eligible policyholders can earn 2% cashback whenever they pay their policy premiums with their PC card.
26. Gore Mutual
- Why It Stands Out: Bundle a variety of personal and commercial policies together
- Learn More: goremutual.ca
Ontario-based Gore Mutual has over 180 years of experience in the insurance industry, making it one of the country’s oldest insurers.
This smaller company offers a wide range of financial products that range from commercial to personal policies and offers excellent rates for customers who bundle multiple policies together.
Conclusion – What’s The Best Car Insurance Company In Ontario?
Smaller insurance companies can offer great deals, while larger insurers provide peace of mind and easy-to-use smartphone apps.
If you’re looking for the best car insurance company in Ontario, though, I’d encourage you to use an insurance comparison platform like YouSet so you can compare quotes side-by-side and find the best deal.
Looking for more ways to save on insurance? Check out my guide to saving on your life insurance policy next!
