How Can You Get Cheap Car Insurance in Etobicoke?
You can get cheap Etobicoke car insurance by finding the best deals. Here are several tips to help you do so:
Compare Rates Between Insurers
Etobicoke has a highly competitive auto insurance market, so insurers are constantly vying for your business. When insurers try to give you the best deals, it’s you who wins. Compare rates and shop around to see which insurance provider fits your auto protection needs affordably.
Take Bundled Policies
One of the best ways to save money while shopping is to buy a package deal, and insurance is no different. If you bundle home and auto insurance from the same company, you’re much more likely to get lower rates.
Ask For A Higher Deductible
You must pay a deductible on insurance claims before your carrier covers the remaining expenses. A higher deductible means paying extra if something happens to your car, but it also means you’ll get lower insurance premiums.
Request Group Discounts
Many insurance companies deal in group discounts for companies and other organizations. If you’re shopping for auto insurance in Etobicoke for work, ask your agent about group deals and discounts.
Pay Annual Premiums
Paying annual insurance premiums might look expensive initially, but it’s generally cheaper than paying them monthly. Ask your insurers about half-year premiums if you can’t afford annual premiums.
Motor vehicle offences and accidents stay on your record for years. Unfortunately, any driving violation on your record will considerably increase your insurance rates. However, this also means you’ll get lower auto insurance rates if you have no offences on record.
Consider Taking Usage-Based Insurance
Usage-based insurance (UBI) or pay-as-you-go insurance tracks your driving behaviour to determine how much you must pay for insurance. Taking UBI lets you save up to 30% on your annual premiums, so it’s a good option if you consider yourself a safe driver.
Take Driving Courses
Accredited driving lessons make you a safer driver and let you earn discounts on auto insurance in Etobicoke.
Choose the Coverage You Need
Naturally, more insurance protection leads to higher rates. While some auto insurance coverage is mandatory, you have optional insurance coverage like at-fault accident and theft protection. Review your policy and skip unnecessary optional coverage to save on insurance premiums.
Buy Affordable Cars
Cars that are expensive and hard to replace tend to get hit with higher premiums. If possible, buy affordable and reliable cars that are more common and easy to repair or replace if you want lower insurance rates.
Quick Facts About Auto Insurance in Etobicoke
- Etobicoke car insurance is MORE expensive than the Ontario average.
- The average annual car insurance cost in Etobicoke for a driver with a clean record is around $2,501.
- Drivers without a clean record in Etobicoke can pay up to $5,512 annually, depending on factors like driving and claim history.
- Comparing Etobicoke auto insurance quotes with MyChoice can save you up to $1,776 annually.
Who Provides Car Insurance Quotes in Etobicoke?
Insurance brokers, agents, aggregators, and direct writers provide car insurance quotes in Etobicoke. Here’s an overview of these four insurance quote providers:
Insurance brokers are independent professionals who help you shop for the best rates by comparing deals from multiple insurers. Because they have a bird’s-eye view of the current Etobicoke insurance landscape, they can show you which companies offer the best insurance deals and answer any questions you may have.
Brokers take a commission from insurance companies, which could increase your rates. You might spend more money than if you had found an insurer yourself.
Like insurance agents, direct writers only sell insurance products from one company. Direct writers are typically found online and are cheaper because they don’t have physical offices.
Insurance agents work for a certain insurer, so they can only offer their employer’s insurance products. However, they know their insurer like the back of their hands and might even give you discounts that brokers don’t have access to.
Additionally, insurance agents can close insurance sales independently, meaning you can purchase insurance from them right then and there.
An insurance aggregator website like MyChoice compiles rates from various insurance brokers, companies, and direct writers in one place. You can browse aggregator websites to find the best deals from the top insurance companies and get quotes instantly.
Better yet, insurance aggregators are accessible online and entirely free for customers, so you can look up insurance rates without spending a single penny or leaving the house.
How Does Car Insurance Work in Etobicoke?
Car insurance in Etobicoke works by providing financial coverage in case something bad happens to you or your car, depending on the protection you choose. Auto insurance in Etobicoke is mandatory by local laws, which means you need car insurance to avoid fines or driver’s licence suspensions.
Worse still, if you get convicted of driving without insurance, you’ll get higher premiums from carriers. This makes driving again prohibitively expensive or even nearly impossible after being caught driving without insurance. That’s why getting auto insurance is essential before buying a car or driving in Etobicoke.
Here’s a breakdown of the key elements of your auto insurance policy:
The mandatory car insurance requirement for Etobicoke drivers are:
Third-Party Liability (TPL) Coverage
This insurance component provides financial compensation if you cause an accident that results in car damage or somebody getting hurt or killed. Per Financial Services Commission of Ontario (FSCO) regulations, you need at least $200,000 in TPL coverage.
Statutory Accident Benefits Coverage
This insurance component pays for your medical bills, rehabilitation, and possible funeral expenses if you get hurt or killed in a car accident, regardless of who’s at fault. Accident benefits coverage also offers income replacement worth 70% of your gross income, capped at $400 per week.
Uninsured Automobile Insurance
Uninsured automobile insurance covers your medical bills and funeral expenses if you’re struck by uninsured vehicles or hit-and-run drivers. Additionally, it compensates for vehicular damage caused by uninsured drivers.
Direct Compensation – Property Damage (DC-PD) Insurance
DC-PD insurance compensates you for the damage other drivers cause in an accident. However, DC-PD only kicks in if the other person is at fault, they’re also insured, and the accident takes place in Etobicoke.
Since minimum car insurance only goes so far, we’ve got some extra Etobicoke car insurance recommendations for you:
Extra TPL Coverage
The mandatory $200,000 insurance minimum can be too small, so many drivers choose to get coverage up to $2 million if they cause property damage or hurt somebody in an accident.
Additional Statutory Accident Benefits
Many people get additional coverage for medical bills and funeral expenses in their statutory accident coverage. You can also get extra income replacement protection if 70% income capped at $400 a week seems too limited.
More Comprehensive Property Damage Protection
DC-PD coverage has very specific coverage terms like the other driver also needs to be insured, and the accident must occur in Etobicoke. To cover their bases, many people purchase extra insurance that still protects them even when the other driver is uninsured, and the accident happens in other provinces.
In addition to mandatory insurance coverage outlined by the FSCO, you can take optional insurance coverage like:
Specified Perils Protection
Specified perils insurance coverage protects you from loss or damage due to a specific cause. The most common perils insured are:
Many insurers also offer comprehensive auto insurance in Etobicoke if you want protection from all these perils.
Insurers usually raise your premiums if you’re at fault for causing an accident. If you’ve been a safe driver for several years, you can take extra accident forgiveness coverage so you won’t get higher premiums if you cause an accident. Note that accident forgiveness only works on your first accident, and subsequent violations will still raise your rates.
Limited Depreciation Waiver
If you take a limited waiver of depreciation, you can receive your car’s purchase price as compensation if it’s been stolen or deemed a total loss after an accident.
How Your Car Insurance Quotes Are Calculated in Etobicoke
Your car insurance rates are calculated based on how risky you are to insure. Naturally, drivers more likely to get into accidents will have higher premiums than those less likely to be in an accident.
Here are seven factors that influence your Etobicoke car insurance quotes:
Age, Gender, and Marital Status
Your personal demographics influence auto insurance premiums in Etobicoke because different people have varying accident risks.
Younger people tend to get higher premiums because insurance companies see them as more accident-prone than older people. Generally, your car insurance rates start decreasing when you hit 25 years old as long as you keep a safe driving record. However, insurance premiums increase again for people aged 65 and older because they’re more likely to be injured or killed in traffic accidents.
Women often get lower insurance rates because they’re seen as more careful drivers and don’t take as many risks as men.
Marital status also determines your rates because most insurance companies see married people as more financially stable and less-risky drivers. Married couples also tend to bundle home and auto insurance, saving more on premiums.
People who live in urban areas often see higher insurance premiums because they’re more prone to car accidents and theft.
Car Make and Model
Expensive cars are more costly to repair or replace, so insurance premiums are usually higher than more common vehicles. You can install security features like anti-theft devices if you have an expensive car and want to save on insurance premiums.
People who drive safely are rewarded with lower premiums because they’re usually less likely to get into a traffic accident. Conversely, people who have gotten into multiple accidents get higher premiums because they’re more likely to be involved in another accident down the line.
Logic dictates that people who drive frequently are more likely to get in an accident. Therefore, kilometres driven is one of the determining factors that set your Etobicoke auto insurance rates.
Insurance Coverage Chosen
Your coverage options influence your insurance rates because taking more coverage gives you more protection. Naturally, the more coverage you choose, the higher your rates.
Getting discounts can lower your auto insurance rates and make them more affordable. You can typically get discounts by bundling home and auto insurance or asking for a group discount for your workplace or organization.
Most Expensive Postal Codes in Etobicoke
At $2,501/year, the cost of car insurance in Etobicoke is higher than the Toronto average of $1,796/year. However, prices vary within the city. M8V, M9P, and M8W are among the most expensive postal codes for auto insurance in the city, owing to above-average rates.
Below are the most expensive postal codes for insuring your vehicle in Etobicoke:
|Postal code||Average annual car insurance premium|
Least Expensive Postal Codes in Etobicoke
By comparison, M8Z and M9A are among the cheapest postal codes for auto insurance. Here is a list of the most affordable postal codes to insure your car in Etobicoke:
|Postal code||Average annual car insurance premium|
Car Insurance Cost in Etobicoke by Age
Younger drivers are often subject to more expensive insurance rates because of their lack of driving experience. As such, insurance companies consider student drivers hitting the road for the first time to be high-risk drivers. However, there are ways to reduce insurance rates, such as enrolling in defensive driving classes, shopping for student discounts, or enlisting as a secondary driver on a parent’s existing policy.
Similarly, senior drivers also get higher rates because they are more likely to be severely injured in a crash. Still, many insurance companies are willing to insure younger and older drivers for reasonable rates.
The median age for Etobicoke drivers is 45.8, with female drivers generally older (47.5) than males (43.8).
See below for how your age can affect insurance rates in Etobicoke:
|Age||Average annual insurance cost||Average savings with MyChoice|
Car Insurance Cost in Etobicoke by Driving History
Insurance companies typically prefer drivers without a claims history, as they are cheaper to insure.
While drivers with a bad record can still get reasonable prices, local and out-of-province speeding tickets, collisions, and other incidents can increase premiums. In addition, violations can stay on your record for three to 10 years, depending on your location and jurisdiction. After this period, insurers can no longer penalize you for them.
New drivers may be subject to higher premiums regardless of age.
Check out how specific driving violations can affect your car insurance rates:
|Driving violation||Average annual car insurance rate|
|Clean driving record||$2,501|
|Insurance cancellation due to non-payment||$4,102|
|Licence suspension for alcohol-related offences||$2,997|
Other Factors That Affect Car Insurance Prices in Etobicoke
We’ve covered several factors that influence car insurance rates in Etobicoke. Aside from those, several extra factors play a part in determining your Etobicoke auto insurance premiums:
Vehicle Model Accident Rates
Some cars are just more accident-prone than others. Even if you have a spotless driving record, owning a car model infamous for having high accident rates will increase your insurance premiums.
Naturally, older cars are more expensive to insure because they may not have all the safety features of newer vehicles. If you insist on driving a vintage car everywhere, make sure you can pay the insurance premiums.
Vehicle Repair Costs
The harder it is to repair a car, the more expensive it is to insure. You can expect high insurance premiums on luxury cars and foreign cars that don’t have a large dealership or service centre presence in Canada.
Vehicle Primary Usage and Annual Mileage
You may spend more or less time on the road depending on what you use the car for. Car usage influences insurance rates – generally, the more you use it, the higher your premiums. For instance, insurance premiums on a car you use as an Uber will be higher than on a car you almost exclusively take on weekend cruises.
A good way to measure how much somebody uses a car is by its annual mileage. If your car has low annual mileage, insurers may determine that this car is low-risk and thus grant you more affordable insurance rates.
Local Crime Rates
Living in high-crime areas means your car is at higher risk of being stolen or vandalized. If you live in an area where theft or vandalism often occurs, you may get higher car insurance rates.
Past Insurance Claims
Any auto insurance claims will drive your premiums up, regardless of who’s at fault. If you make many insurance claims, the insurer will see you as a high-risk policyholder and give you higher rates.
Many insurance companies reward long-term customers with discounted rates. If you’ve been a policyholder at the same insurance company for several years, ask for a rate reduction or discount when you renew your policy.
The Best Car Insurance Brokerages in Etobicoke
If you don’t have the time or knowledge to compare insurance quotes, working with a car insurance brokerage can take the weight off your shoulders. Below are the top car insurance brokerages in Etobicoke:
|Billyard Insurance Group – Etobicoke||5405 Eglinton Ave W #209|
Etobicoke, ON M9C 5K6, Canada
|Monika Vohra- All-Risks Insurance Broker’s Ltd||100 Westmore Dr #12C|
Etobicoke, ON M9V 5C3, Canada
|Vachon Insurance Group||5468 Dundas St W|
Etobicoke, ON M9B 6E3, Canada
Driving in Etobicoke
Etobicoke is a residential and industrial city with a relatively dense population compared to the rest of the Greater Toronto Area (GTA). It is also home to some of the busiest highways in the GTA, so expect to run into heavy traffic daily.
Here are a few facts to note when driving in Etobicoke:
- Major highways: Highway 427, Highway 401, Highway 409, Queen Elizabeth Way, Gardiner Expressway
- Public transit options: Toronto Transit Commission (bus)
- Ridesharing services: Uber, Lyft
- Parking space providers: City of Etobicoke, Impark, JustPark, private lots
- Top tourist attractions: Humber Bay Park, Colonel Sam Smith Park, Casa Loma, CN Tower, Royal Ontario Museum, Chinatown
- Busy intersections: Islington Avenue to Finch Avenue West
- Airports: Billy Bishop Toronto City Airport, Toronto Pearson International Airport
Main Mode of Commuting in Etobicoke
Most Etobicoke residents prefer commuting by car, but car users only make up 73.1% of all commuters. This is because Etobicoke has a robust public transit system that boasts 23,295 regular users, making up one-fifth of the city’s commuters. Here’s a closer look at how people get to work in Etobicoke:
|Main mode of commuting||Counts||Rates|
|Total – 25% sample data||115,935||100.0|
|Car, truck or van||84,710||73.1%|
|Car, truck or van – as a driver||76,075||65.6%|
|Car, truck or van – as a passenger||8,640||7.5%|
Commuting Duration in Etobicoke
Due to its density and high population, commuting in Etobicoke can take a while. Most of the city takes 15 to 44 minutes to get to work. Fortunately, extra-long commutes are relatively rare because only 20% of the city’s commuters take over 45 minutes to get to work. Here’s a detailed look at Etobicoke’s commuting times:
|Total – 25% sample data||115,935||100.0|
|Less than 15 minutes||20,850||18.0%|
|15 to 29 minutes||40,400||34.8%|
|30 to 44 minutes||30,245||26.1%|
|45 to 59 minutes||11,490||9.9%|
|60 minutes and over||12,965||11.2%|
Driving Conditions in Etobicoke
While Etobicoke summers are warm, winters are typically freezing and can make for some precarious driving. In addition, it’s partially cloudy year-round, so you’ll want to take special care on the road.
Below are a few facts about Etobicoke to remember when driving:
- Average daily commute time: 42 minutes round trip
- Average annual rainfall: 20.48 mm
- Average annual snowfall: 86.36 mm
- Rainy days per year: 39 days
- Rainiest month in Etobicoke: April
- Driest months in Etobicoke: February
- Snow days per year: 140 days
- Snowfall months in Etobicoke: November – April
Traffic in Etobicoke
Over 84,000 people drive themselves to work in Etobicoke daily. The roads are often congested, as Etobicoke is densely populated.
Below is some vital information to put traffic conditions in Etobicoke into perspective:
- Population: Roughly 365,143 people are living in Etobicoke.
- City area: The Etobicoke city limits span 123.9 km2.
- Busiest highways: The busiest highways in Etobicoke include Highways 401, 401, and 427. Other busy highways include Queen Elizabeth Way and the Gardiner Expressway.
The Most Common Questions About Car Insurance in Etobicoke
Is ridesharing insurance available in Etobicoke?
Yes, ridesharing insurance is available in Etobicoke through the Northbridge General Insurance Corporation, Aviva Insurance Company of Canada, Economical Mutual Insurance Company, and Hartford Fire Insurance Company of Canada.
How much does Etobicoke car insurance cost?
Etobicoke car insurance costs an average of $2,501 a year or $208 a month.
Is car insurance in Etobicoke cheaper than in Toronto?
No, car insurance in Etobicoke is more expensive than in Toronto by an average of over $800.
Which cars get the lowest car insurance premiums in Etobicoke?
Why should you compare car insurance rates in Etobicoke?
You should compare car insurance rates in Etobicoke because they change frequently depending on various factors, such as changes in your driving record or additional drivers on your policy.
What information do you need for an auto insurance quote in Etobicoke?
The information you need for an auto insurance quote in Etobicoke includes your contact details, driver’s licence number, and accident prevention course completion date, if you have one.