Car Insurance Toronto

October 20, 2020 | Editorial Team

Best Car Insurance Online Toronto

Finding the best insurance companies with the best car insurance rates for Toronto drivers doesn’t have to be hard. You can use an online comparison site for car insurance, such as RATESDOTCA, to look at multiple insurance companies at once. This will help you save time and help you find an insurance policy that suits your unique needs. Let’s take a look at RATESDOTCA in more detail!

RATESDOTCA

RATESDOTCA is a website that helps Canadians find and compare insurance rates. They work with well-known and reputable insurance companies. Companies such as Allianz, Allstate, CAA, Desjardins, and many more. These providers offer a variety of types of policies. You can find home, travel, life, pet, business, or car insurance at RATESDOTCA.

As RATESDOTCA has been around since 1999, they are one of the most well-known insurance comparison sites. Here are some of the pros and cons of using RATESDOTCA to find car insurance in Toronto, Ontario.

Pros

  • As RATESDOTCA works with over 50 providers, everyone is sure to find a car insurance policy that suits them.
  • Using RATESDOTCA is not only simple, but it is also free.
  • There is no obligation to apply for the car insurance policies that RATESDOTCA shows you.
  • RATESDOTCA lets you compare and contrast the rates and coverage that each insurance company offers.
  • There is not a lot of specific eligibility requirements other than being a Canadian citizen or permanent resident.
  • You can find any type of insurance you need (home, life, travel, pet, business, car) on RATESDOTCA.
  • RATESDOTCA can help you find car insurance with liability coverage, accident benefits and direct compensation for property damage. Or, if you want add-ons, coverage could be comprehensive. You can cover collisions, rental cars, loss of use, and/or the depreciation waiver.

Cons

  • RATESDOTCA is not a provider itself. It is simply a website that allows Canadians to search for a variety of car insurance rates and policies simultaneously.
  • Their customer service is limited as they don’t offer live chat.
  • Search filters are limited as you can’t search for specific details, such as a deductible limit.

Summary

If you want a quick and accurate estimate of what your Toronto auto insurance would be, RATESDOTCA is a great option. All you need to do is input some personal and financial information. Then, RATESDOTCA can connect you with an insurance company that suits your specific needs. As using RATESDOTCA is free, you have nothing to lose, Toronto!

Factors That Impact Your Car Insurance Rates

Driving in Toronto is not cheap, and not just because of the high gas and parking rates. Car insurance in Toronto and the Greater Toronto Area is known for being expensive. One of the biggest reasons is that Toronto is a big city with a bigger potential for accidents and theft. Toronto auto insurance companies thus see Toronto as a bigger risk and will charge higher premiums.

Keep reading to find out what other factors impact the rates of your car insurance in Toronto.

Driver Demographics

Unfortunately, car insurance companies rely heavily on the driver’s demographics when offering a premium. Toronto drivers that are men tend to have a higher premium. This is because of historical evidence showing they are more likely to use their car to street race, drive recklessly, or under the influence.

Toronto car insurance companies will also look at the driver’s age. If you are young, your auto insurance will be higher. Providers believe that younger drivers have less experience and are more of a risk. If you keep a clean driving record each year, your premium will likely go down with age.

Where You Live

Your postal code is one of the main aspects an insurance company will look at. RATESDOTCA has stated that the top five most expensive car insurance areas in Ontario are in the Greater Toronto Area (including Toronto and Brampton).

These areas are known for having more accidents. Some of these neighbourhoods may be known for having a higher rate of vehicle theft. If your postal code shows you are in an area of Toronto with many prior car insurance claims, you will be charged more. This is because the likelihood you will also make a car insurance claim is higher.

Vehicle Type

Insurance providers not only look at the driver but the actual vehicle as well. Car insurance providers will take into consideration the make, model, and production year of your vehicle when creating a premium. Often, the more a car is worth, the higher your premium will be. The Toronto car insurance provider will have to pay more to fix a Ferrari than a Honda.

In terms of vehicle type, sports cars come with the highest premium. They are often worth more and tend to be involved in more accidents, making them a liability in the insurance provider’s eyes.

Driving History

Another big factor an insurance provider will look at is your driving record. If a new insurance provider sees that you have had many accidents or tickets, your premium will be much higher than someone with a clean record. This is because the Toronto car insurance provider believes you could have similar infractions in the future. They would then have to cover you for them.

Your driving history needs to remain consistently clean if you want to have a lower Toronto car insurance premium. If you lose demerit points or get into an accident, your premium could go up when your insurance policy is renewed.

If you are a new driver and don’t have a driving history, this is also negative. Insurance providers will have nothing to gauge how your driving is without a history. So. they tend to charge more and then adjust based on your driving record as it is formed.

Type of Insurance

What type of auto insurance coverage you have will impact the cost as well. In Toronto and, more generally, Ontario, you must have car insurance by law. Your insurance for the car must cover third-party liability, accident benefits, direct compensation and property damage, and uninsured automobiles. This is the minimum amount of coverage required in Toronto and Ontario.

If you get add-ons such as comprehensive coverage, your Toronto car insurances premium will be more expensive.

Similarly, the deductible you choose for your policy will affect your monthly premium. Typically, the higher the deductible, the lower your monthly premium will be.

The Bottom Line

You likely don’t want to pay for another type of insurance in Toronto, but auto insurance is legally required and extremely helpful. Any damage to your car could cost thousands to fix. If you don’t have auto insurance in Toronto, that would have to be paid out of pocket.

Make sure you have the best auto insurance policy available to you by using RATESDOTCA. Compare and contrast all the car insurance in Toronto easily from your own home.

Don’t waste any more time, Toronto, head over to RATESDOTCA to apply for your auto insurance today!