Compare Car Insurance Quotes Online & Start Saving | Ratehub.ca (2024)

It's important to know that price shouldn't be the only factor you look at when selecting your car insurance provider. Pay close attention to the specialized coverages each insurer offers, as one may better align with your specific needs over another.

This can also mean exploring bundling options, where you combine multiple policies – such as auto, home, condo, tenant, and boat insurance – with the same provider to take advantage of discounts. While not all insurance companies offer every type of coverage, you can look for one that does. Alternatively, you can compare the costs and benefits of mixing and matching insurers to see what works best for you.

The minimum required coverage in your province may not be enough. Most drivers opt for at least $1 million in liability insurance, and you can even consider increasing your coverage to $2 million – the price difference is often minimal.

1. Bundle insurance products

   Insurance companies value loyal customers. By having your auto and home insurance bundled together under the same carrier, you can expect a substantial rate reduction.

2. Get a group rate

   Many insurance companies offer discounts to members of professional organizations or affiliation groups – so it pays to ask about savings (literally).

3. Increase your deductible

   The deductible is what you pay for a vehicle loss or damage claim before the insurer pays the rest. Increasing your deductible will lower your annual premium

4. Install safety features

   You could see a rate deduction by installing anti-theft devices or opting for a car that's already equipped with the newest safety features.

5. Take a course

   For new and young drivers especially, graduating from an accredited driving course can show insurers you bring less risk (which helps lower your premium).

1. Pay annually

   Paying your full premium up-front tends to be less money in the long run, compared to making multiple, monthly payments. Insurers like to see a commitment to the policy.

2. Keep a clean driving record

   At-fault collisions and driving convictions stay on your insurance record for years and make your rates go way up – if you drive safely over a long period, you’ll pay the lowest rates.

3. Track your driving

   Many Canadians have yet to try telematics, also known as usage-based insurance. Opting for UBI which tracks your driving behaviour can lead to big savings.

4. Install winter tires

   While winter tires are only required in select provinces, it's always better to be safe than sorry – and the potential auto insurance savings are a plus.

5. Drive less

   Again, a longer commute leads to higher coverage rates. Consider alternative transportation to not only save on gas – but also insurance.

Yes, it's the law. Car insurance is a requirement for everyone who owns and wishes to drive a car in Canada. The coverage is there to protect you from all kinds of financial implications, such as vehicle repairs after a collision or liability claims after an accident.

In Canada, driving an uninsured vehicle is a serious offence – you could a heavy fine or even a license suspension. You'll also need to provide proof of an auto insurance policy before you're able to register your vehicle.

Even though auto insurance is legally mandated Canada-wide, the coverage requirements for a standard car insurance policy vary provincially (and it heavily depends on whether the province runs on a public or private insurance system).

British Columbia, Saskatchewan, and Manitoba are public insurance markets where you buy auto insurance from the government (with the option of purchasing supplemental coverage from private insurers). Alberta, Ontario, and Atlantic Canada have private insurance companies vying for your business which is why comparing car insurance quotes online is an effective strategy for uncovering lower rates. Quebec, on the other hand, has a hybrid system that offers the cheapest car insurance rates. There, you buy injury coverage from the government and property damage from a private insurer.

Even though each province sets a minimum standard for coverage, most people purchase a more comprehensive insurance policy. In fact, in every province, you can customize your policy's coverages and amounts to further suit your personal needs.

Another thing to understand about auto insurance in Canada is the differences between the accident claim systems. Several provinces have shifted towards ano-fault insurance systemin which you only deal with your own insurance company when seeking financial compensation for a collision you were involved in (regardless of fault). The other system is a tort-based system – many consider this to be inefficient as you'll need to deal with the at-fault driver's insurer to seek compensation.

Regardless of the rules in your province, not having the right auto insurance policy in place will leave you financially vulnerable if you're ever involved in an incident. So make sure you understand the coverage you need when shopping around for car insurance.

There is no one-size-fits-all answer to the best car insurance company in Canada. The right insurer for you will be the one that meets all your coverage needs at an affordable price. That’s why we recommend comparing car insurance quotes with us – by providing a few quick details, you can instantly view your personalized options and confidently choose the policy that suits you best. And keep in mind that in addition to comparing prices, you should consider the following:

Policy coverages: Make sure you understand what each policy covers. Sometimes, the cheapest option isn’t the best if it doesn’t offer the protection you need. Consider whether additional coverages like collision, comprehensive, or roadside assistance are necessary for your situation.

Customer service: Look into customer reviews and ratings for each insurer. A company with strong customer service can make a big difference, especially when it comes time to file a claim.

Eligible discounts: Many insurers offer discounts for bundling policies, safe driving, or even having certain safety features in your car. You may also be eligible for a group rate. These can add up to significant savings.

An auto insurance deductible is the amount of money you need to pay out-of-pocket before your insurer foots the rest of the bill. Generally speaking, deductibles are only applicable to vehicle loss or damage claims (for collision and comprehensive insurance) – they don't typically apply to third-party liability and accident benefits. Here's a quick overview of how it all works:

Example scenario: Let’s say you get into an at-fault accident, and you have collision insurance which will cover the cost to repair your vehicle. If the repair costs total $1,000, and your deductible is $500, you'll need to cover the first $500 before your provider pays the remaining half.

Choosing a deductible: When you purchase your policy, you typically set your own deductible amount. Common deductible amounts range from $250 to $1,000 or more. A higher deductible lowers your premium but means you’ll pay more out-of-pocket if you file a claim. Conversely, a lower deductible means less out-of-pocket expenses in the event of a claim – but your premiums will be higher.

Multiple deductibles: Depending on your policy, you may have different deductibles for different types of coverage, such as collision and comprehensive insurance. Each coverage type will have its own deductible which applies when you make a claim under that specific coverage.

No deductible situations: In some cases, you might not have to pay a deductible, such as if the other driver is at fault. However, this depends on your policy and the specifics of the claim.

Yes, you can cancel your car insurance at any time – but remember, car insurance is mandatory across Canada. If you cancel your insurance and continue driving, you could face legal penalties, including fines, license suspension, and vehicle impoundment. Make sure you have a valid policy in place if you plan to keep driving.

Common reasons for cancelling car insurance include selling your vehicle, switching insurance providers, or no longer driving. If you no longer need coverage, make sure to cancel your policy promptly to avoid unnecessary charges.

To cancel your car insurance, you'll need to contact your insurance provider directly. This can typically be done over the phone, online, or in writing, depending on the company’s process. Make sure to request a confirmation of the cancellation in writing for your records.

Some insurance companies may charge a cancellation fee, especially if you’re cancelling in the middle of your policy term. The fee amount varies by insurer, so it's important to check your policy or ask your provider about any potential charges.

On the other hand, if you've paid your premium in full for the year and decide to cancel your policy, you may be entitled to a prorated refund for the unused portion of your coverage. If you're paying monthly, you’ll typically just stop making payments after the cancellation date.

If you’re switching insurance companies, it's crucial to have your new policy in place before cancelling your current one. A lapse in coverage, even for a short time, can result in higher premiums in the future and may leave you vulnerable if an accident occurs during the lapse.