How Can You Get Cheap Car Insurance in Oshawa?
You can get cheap Oshawa car insurance by finding the best deals. Here are several tips to help you do so:
Compare Rates Between Insurers
Oshawa 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 Oshawa 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 Oshawa.
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 Oshawa
- Oshawa car insurance is MORE expensive than the Ontario average.
- The average annual car insurance cost in Oshawa for a driver with a clean record is around $1,715.
- Drivers without a clean record in Oshawa can pay up to $3,780 annually, depending on factors like driving and claim history.
- Comparing Oshawa auto insurance quotes with MyChoice can save you up to $1,218 annually.
Who Provides Car Insurance Quotes in Oshawa?
Insurance brokers, agents, aggregators, and direct writers provide car insurance quotes in Oshawa. 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 Oshawa 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 Oshawa?
Car insurance in Oshawa works by providing financial coverage in case something bad happens to you or your car, depending on the protection you choose. Auto insurance in Oshawa 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 Oshawa.
Here’s a breakdown of the key elements of your auto insurance policy:
The mandatory car insurance requirement for Oshawa 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 Oshawa.
Since minimum car insurance only goes so far, we’ve got some extra Oshawa 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 Oshawa. 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 Oshawa 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 Oshawa
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 Oshawa car insurance quotes:
Age, Gender, and Marital Status
Your personal demographics influence auto insurance premiums in Oshawa 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 Oshawa 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 Oshawa
The average rate for auto insurance in Oshawa is $1,715, higher than the Ontario provincial average of $1,385.
The postal codes with the highest rates are L1J and L1H, which include the neighbourhoods of Lakeview, McLaughlin, Northglenn, Stevenson, Vanier, Central Oshawa, Donevan, Eastdale, Farewell, O’Neill, and Taunton.
|Average annual car insurance premium
Least Expensive Postal Codes in Oshawa
The postal codes with the cheapest auto insurance rates in Oshawa are L1G, L1K, and L1L. These encompass Oshawa Central, Oshawa East, and Oshawa North, respectively.
Generally, areas with a high volume of traffic see more expensive insurance rates. This is because more traffic brings in a higher risk of accidents and auto theft.
|Average annual car insurance premium
Car Insurance Cost in Oshawa by Age
Due to their inexperience and limited driving history, younger drivers are often charged more for insurance. If you’re a young or new driver and you want to lower your rates, consider taking up a driving course or adding yourself as a secondary driver on your parents’ policy first.
Likewise, people over the age of 65 can also expect higher rates, as seniors are at an increased risk of sustaining serious injuries in an accident.
Learn how age affects insurance premiums in Oshawa below:
|Average annual insurance cost
|Average savings with MyChoice
Car Insurance Cost in Oshawa by Driving History
Your driving history is another key contributing factor to your insurance rates. People with more traffic violations on their records may be labelled high-risk drivers and are charged more for auto insurance.
In Ontario, drivers are rated on a 15-point system, where points are added to your driving record when you violate driving laws. When you reach a certain amount of points, you’re classified as high-risk.
Take a look at how driving offences can affect your insurance premiums in Oshawa:
|Average annual car insurance rate
|Clean driving record
|Insurance cancellation due to non-payment
|Licence suspension for alcohol-related offences
Other Factors That Affect Car Insurance Prices in Oshawa
We’ve covered several factors that influence car insurance rates in Oshawa. Aside from those, several extra factors play a part in determining your Oshawa 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 Oshawa
Auto insurance brokerages bridge the gap between drivers and insurance companies, making the search for the best premiums much easier.
Check out several brokerages you can visit in Oshawa, Ontario below:
|McDougall Insurance &
Financial – Oshawa
|172 King St E Suite #300
Oshawa, ON L1H 1B7, Canada
|W B White Insurance Ltd
|110 King St E
Oshawa, ON L1H 1B6, Canada
|Aaxel Insurance Brokers Ltd.
|104-1050 Simcoe St N
Oshawa, ON L1G 4W5, Canada
|285 Taunton Rd E
Oshawa, ON L1G 3V2, Canada
Driving in Oshawa
Driving and cars, in general, are a big part of Oshawa’s identity, which is nicknamed Canada’s “Motor City”. Home to the Canadian headquarters for General Motors, Oshawa’s economy is driven in large part by auto manufacturing.
Oshawa is also a commuter town, as many of its residents drive outside of the city for work, particularly in downtown Toronto. In fact, Oshawa has the highest share of residents commuting to the Toronto CMA for work.
Here are some more fast facts about driving in Oshawa:
- Major highways: Highway 401, Highway 407, Highway 412, Highway 418
- Public transit options: GO Transit (train and bus), Durham Region Transit (bus), TOK Coachline (intercity bus)
- Ridesharing services: Uber, Lyft
- Parking space providers: The City of Oshawa
- Top tourist attractions: Canadian Automotive Museum, Parkwood Estate, Robert McLaughlin Gallery, Ontario Regiment (RCAC) Museum, Oshawa Valley Botanical Garden, McLaughlin Bay Wild Reserve
- Busy intersections: Stevenson and Gibb, Simcoe and Taunton, Bond and Stevenson, King and Harmony, Ritson and Adelaide
- Airports: Oshawa Executive Airport
Main Mode of Commuting in Oshawa
Oshawa has a rich car culture, so it stands to reason that 88% of the city’s commuters use cars and other personal vehicles. Aside from the majority, about 6.3% of commuters use public transit, while 3.2% of them walk to work. Check the table below to learn more about the main modes of commuting in Oshawa:
|Main mode of commuting
|Total – 25% sample data
|Car, truck or van
|Car, truck or van – as a driver
|Car, truck or van – as a passenger
Commuting Duration in Oshawa
As a commuter town, Oshawa has relatively high commuting times. Only a quarter of Oshawa’s commuters spend under 15 minutes on the road. Another quarter of them spend over 45 minutes getting to work. Here’s a closer look at the commuting duration in Oshawa:
|Total – 25% sample data
|Less than 15 minutes
|15 to 29 minutes
|30 to 44 minutes
|45 to 59 minutes
|60 minutes and over
Driving Conditions in Oshawa
Oshawa sits on the shoreline of Lake Ontario. Because of this, lake-effect snow storms are common in the city. Snow tires are a must for winter driving.
Here’s a quick overview of what driving conditions are like in Oshawa:
- Average daily commute time: 31.8 minutes one way
- Average annual rainfall: 693 mm
- Average annual snowfall: 383 mm
- Rainy days per year: 158.8 days
- Rainiest month in Oshawa: August
- Driest months in Oshawa: February, November
- Snow days per year: 51.4 days
- Snowfall months in Oshawa: January – April, November – December
Traffic in Oshawa
With so many Oshawa residents commuting in and out daily, heavy rush-hour traffic is a common complaint in the city. Another issue for drivers is the city’s various one-way streets, which include the main downtown thoroughfares of King and Bond street. This can be rather confusing for new drivers.
Check out this information about traffic in Oshawa:
- Population: About 175,383 people are living in Oshawa right now.
- City area: Oshawa’s city limits span 145.68 km2
- Average commute distance: 21.24 km one way
- Time spent in traffic annually:
- Average number of collisions:
The Most Common Questions About Car Insurance in Oshawa
Is ridesharing insurance available in Oshawa?
Ridesharing insurance is available in Oshawa. The Transportation Network Company usually requires its drivers to purchase ridesharing insurance before they can start driving for the company.
How much does Oshawa car insurance cost?
On average, Oshawa car insurance costs about $1,715 a year.
Is car insurance cheaper in Oshawa than in Toronto?
Car insurance is cheaper in Oshawa than in Toronto. The average rate of auto insurance in Oshawa is $1,715, while in Toronto, it is $1,796.
Which cars get the lowest car insurance premiums in Oshawa?
The cars that get the lowest auto insurance premiums are often popular, budget-friendly vehicles with small engines.
Why should you compare car insurance rates in Oshawa?
You should compare auto insurance rates in Oshawa because rates vary from insurer to insurer and they change constantly.