Toronto is Canada’s biggest city; the city itself counted 2.611 million people as of the 2011 census, and the Metro area climbed over the 6 million mark as of July, 2014 data. In a city of this size, there are a lot of cars on the road, and that leads to traffic, higher accident rates, and higher insurance rates.

Cities in the GTA all rank among the most expensive places in Canada for car insurance, and Toronto falls at number four in the top ten out of these cities according to a 2015 rate comparison. Brampton, Woodbridge, and Vaughn are the top three.

Cheap car insurance in Toronto is more difficult to find than in smaller cities, as drivers contend with Ontario’s overall high rates and problems like insurance fraud. Careful shopping around and attention to what can drive rates up as well as how they can be reduced is important to Toronto drivers.

On the Road in Toronto

As of 2014 data, Toronto commuters numbered at 837,000 locals going to work within the city with another 450,000 commuting into Toronto from surrounding cities each day. That puts a lot of people on the highways into Toronto and the roads within the city each day, causing congestion and Canada’s longest commute times at an average of 32.8 minutes – although some drivers face nearly double that time.

In Allstate’s annual Safe Driving Study, Toronto ranked among the highest rates of collision claims in the province, likely a function of the large number of vehicles on the roads and the longer amount of time commuters spend behind the wheel. More collisions and more claims mean higher insurance rates.

Crime in Toronto

The last few years have seen declining crime rates across Canada, and Toronto has been no different. 2015 year-to-date statistics from the Toronto Police, however, indicate that violent crime has been up from the lower numbers in previous years.

Toronto is a large city and crime rates can vary drastically by neighbourhood, with some areas much more plagued by crime than others.

Car theft in Toronto has also generally declined in recent years, which is good news for car insurance rates. Theft rates are the highest in the Yorkdale-Glen Park and West Humber-Clairville areas, but even in those neighbourhoods the numbers have gone down as of 2011 records.

The reduction in auto theft came as a result of a dedicated effort between the Toronto police, Transport Canada, and the Insurance Bureau of Canada. The efforts for so successful that both the Toronto Police and Ontario Provincial Police were able to disband dedicated auto theft units in 2012.

Toronto Car Insurance Laws

Toronto drivers are required to meet the province-wide car insurance minimums. For Ontario, that law means a minimum of $200,000 in third-party liability as well as a basic level of accident benefits.

2014 car insurance legislature aimed some new laws at some of the industries surrounding car insurance and claims, as well as at preventing fraud. These laws came about as a result of the incredibly high insurance costs in Ontario, and the big problem of fraud that has been helping to drive those rates up.

The new laws affect the towing industry as well as how injury suits after accidents are handled, and were initially meant to bring about a 15% reduction in rates over a period of two years. Unfortunately, Toronto drivers are still paying very high insurance rates.

Comparing Rates for Toronto Car Insurance

Toronto drivers have a lot of options when it comes to their car insurance; a privatized insurance system and a large city where many insurers do business means shopping around is the best way to get cheap car insurance in Toronto.

Toronto drivers may want to avoid the top most stolen cars, which include the Ford F350, the Honda Civic, and the Cadillac Escalade. High theft rates can translate into high insurance rates on those particular vehicles.

In recent years Toronto insurance companies have been introducing usage-based insurance, which provides discounts based on real-time data about driving habits. These new systems will allow safe drivers to earn lower rates. Combined with other discount programs, usage-based options may offer some of the cheapest car insurance in Toronto.

Bundling is also one of the most helpful discounts for Toronto drivers – auto and home discounts add up to big savings. Both usage-based discounts and auto/home bundles offer an average savings of 15% per year – each. That’s big savings in an expensive insurance market like Toronto.

Insurance Brokers in Toronto

Canadian Insurance Brokers, Inc.

1 Eglinton Ave E
Toronto, ON, Canada
416-486-0951

cibi.ca

KTX Insurance Brokers

360 Adelaide Street West
Toronto, ON, Canada
(866) 456-6620

ktxinsurancebrokers.ca

Humberview Insurance Brokers

339 Roncesvalles Avenue

Toronto, Ontario M6R 2M8

416-531-4647

humberviewinsurance.ca

Edgehill Insurance Brokers

141 Adelaide Street West, #1600
Toronto, Ontario
416-915-3425

edgehillinsurance.com

Prock Insurance Brokers, Ltd

102 Benson Avenue
Toronto, Ontario

416-651-7837

prockinsurance.com

Baird MacGregor Insurance Brokers

825 Queen Street East
Toronto, Ontario

416-778-8000

bairdmacgregor.com

Win-Bar Insurance Brokers

250 Eglinton Ave W

Toronto, ON M4R 1A7

416-486-1295

winbar.ca

Partners Indemnity Insurance Brokers Ltd

10 Adelaide E

Toronto, ON

416-366-5243

partnersindeminity.com

Chris Steer Insurance Brokers Ltd

8 King St E

Toronto, ON

416-366-1141

steerinsurance.com

Luso Insurance Brokers Ltd.

1152 College St

Toronto, ON

416-534-8455

lusoinsurance.com