In Ontario, age is one of many factors considered by insurers when determining automotive insurance premiums. The stereotype is that this applies mainly to young drivers, who are known to have higher incident rates and significantly higher premiums than the rest of the population. But another demographic is drawing increasing attention from insurers: drivers aged 65 and older. Seniors account for a significant share of fatal collisions and have some of the highest fatality rates following a crash. As the Canadian population ages, these risks are set to become even more prevalent.
The Real Insurance Challenge: Severity, Not Frequency
Transport Canada’s motor vehicle traffic collision statistics from 2023, the most recent available at the time of writing, reveal that seniors are not involved in driving incidents more frequently than the rest of the population. However, the collisions they are involved in are far more likely to be fatal.
In 2023, there were 446 fatal collisions in Canada involving people aged 65 and older. Drivers aged 65 and older also experienced one of the highest fatality rates among reported injuries, highlighting the greater severity of crashes involving seniors.
A 2025 study by the Insurance Institute for Highway Safety (IIHS) says collisions involving seniors are more likely to be fatal due to “their increased susceptibility to injuries, particularly to the chest, and medical complications, rather than an increased tendency to get into crashes.”
How the Share of Senior Drivers Is Growing
The percentage of drivers in Canada who are seniors is increasing. Transport Canada data shows that over 5.8 million licensed drivers across the country are 65 or older. Data from MyChoice.ca echoes this trend: the share of insurance quotes for drivers 65+ increased from 5.6% in 2020 to 6.7% in 2026.
This already makes people aged 65 and older one of the largest groups of licensed drivers in Canada, and this is set to grow even further. Population data from Statistics Canada shows that people aged 65 or older made up 19.5% of the Canadian population in 2025. That’s projected to expand to 21.9% by 2030, at which point the entire Baby Boomer generation will be seniors. By 2060, 25.2% of the population, or one in four Canadians, will be 65 or older.
How Much Do Seniors Pay for Auto Insurance in Ontario?
Currently, MyChoice.ca’s auto insurance data for Ontario shows that premiums for drivers aged 65 and older are among the lowest in the province. The average annual premium for a senior is quoted at $1,727. This is not far off the lowest average premium by age group, which is $1,684 for drivers aged 55 to 65. And it’s a far cry from the price for drivers aged 18 to 20, who pay the highest annual premiums on average at $6,118.
However, the rise in premiums is notable between the 55-to-65 and 65+ age groups. It shows that the statistics involving seniors and fatal collision injuries are already being reflected in insurance quotes.
Drivers looking to better understand how age, driving history, and retirement affect premiums can explore our guide to senior car insurance in Ontario.
What This Could Mean for Insurance Premiums for Seniors in the Future
As the number of senior drivers continues to grow, insurers may place greater emphasis on age-related risk factors and collision severity when assessing future pricing trends.
As more Canadians reach retirement age, insurance affordability could become just as important a factor as ongoing mobility when making decisions about where to live and how to structure life in the golden years.
Key Advice from MyChoice
- After you retire, check your insurance coverage regularly. Changes in how much you drive, your commute, or how you use your car can affect your premiums.
- If you can, take a recognized mature driver refresher course. Some insurance companies may look at ongoing driver education in a positive way.
- If you drive less than you used to, ask your insurance company about mileage-based or usage-based insurance programs.
- Different insurers weigh age and experience differently, which is why it’s worth reviewing available car insurance discounts for seniors every year.