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Cheap Car Insurance in Toronto (2024)

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Recent Quotes From Our Users

Monthly PremiumsDate & TimeQuote TypeAgeGenderPostal Code
$106.45Jun 19, 2024, 04:08 PMAuto59FemaleK6J4P2
$43.02Jun 19, 2024, 05:45 AMHome56FemaleK1G0M5
$24.31Jun 19, 2024, 03:31 PMTenant30FemaleM1H2E4

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Article Contents
Picture of By <span>Aren Mirzaian</span>
By Aren Mirzaian

Updated on May 16, 2024

Visit author page
Picture of By <span>Aren Mirzaian</span>
By Aren Mirzaian

Updated May 16, 2024

Visit author page

6 minute read

Article Contents

Quick Facts About Auto Insurance in Toronto

  • Toronto car insurance is MORE expensive than the Ontario average.
  • The average annual car insurance cost in Toronto for a driver with comprehensive/collision coverage and a clean record is around $2,139.
  • Comparing Toronto auto insurance quotes with MyChoice can save you up to $1,519 annually.
  • Toronto has an 8.27% collision rate, one of the highest in the country.
  • The average age of Toronto drivers is 40.6 years old.
  • There are around 575,260 regular drivers in Toronto.

The Best Car Insurance Brokerages in Toronto

Without prior experience, finding and buying car insurance in Toronto alone can be frustrating. Fortunately, you can work with car insurance brokers to make the process easier. Depending on the nature of their business, car insurance brokers either sell policies from multiple companies or exclusively offer products from one insurer. We also work with insurance brokers to help you find the best rates.

Brokers can help you find the insurance coverage you need at a price you can afford. Here are some of our car insurance brokerage partners in Toronto you can visit for your auto insurance needs:

BrokerageAddressPhone number
Billyard Insurance Group – St. Clair691 St Clair Ave W 2nd floor,
Toronto, ON M6C 1B2
416-814-7577
MITCH Insurance Brokers110 Yonge St,
Toronto, ON M5C 1T4
888-401-4697
Leibel Insurance Group401 Bay St. Suite #1600,
Toronto, ON M5H 2Y4
416-238-8338

Most Expensive Postal Codes in Toronto

In 2024, the average auto insurance rate in Toronto is $2,139. However, some areas in Toronto are more expensive than the rest. 

Check the table below for our detailed look at the five most expensive wards for car insurance in Toronto: 

AreaPostal CodeAverage Annual Car Insurance Premium
Humber River – Black CreekM3N, M3M$2,646
Humber River – Black Creek/
York Centre/York South-Weston
M3L, M3J, M9N$2,585
Humber River – Black CreekM9L$2,523
Scarborough North/Scarborough
-Rouge Park/Scarborough Centre/
Scarborough-Guildwood/Scarborough Southwest
M1B, M1J, M1K$2,462
Scarborough Centre/Scarborough
Southwest
M1R, M1L$2,436

Least Expensive Postal Codes in Toronto

Although it’s the largest city in Canada, Toronto has some areas with lower than average car insurance premiums. As of 2024, there are three postal codes where car insurance rates are well under the city average.

Check the table below for MyChoice’s detailed look at the three most affordable wards for car insurance in Toronto: 

AreaPostal CodeAverage Annual Car Insurance Premium
Toronto Centre/ University-Rosedale/
Spadina-Fort York
M4X, M4W, M5B,
M5V,M5S, M7A, M5J,
M4Y,M5H, M5G
$1,920
WillowdaleM2N$1,952
Davenport/Parkdale-High Park
Etobicoke-Lakeshore/ University-
Rosedale/ Spadina-Fort
York/ Etobicoke Centre
M6P, M8Y, M5T, M8Z,
M8X, M6J, M8W, M6R,
M8V, M6H, M9B, M6K, M6S
$1,984

Car Insurance Cost in Toronto by Age

Your Toronto car insurance cost changes depending on how old you are. Younger people typically pay higher premiums, which get lower as they age. However, premiums will rise again once they hit 65.

Here’s a detailed look at car insurance costs in Toronto categorized by age and how much you can save if you use MyChoice:

Age Average Annual RatesAnnual Savings with MyChoice
18-20$7,636$1,519
21-24$4,364$868
25-34$2,909$579
35-44$2,139$425
45-54$1,754$349
55-64$1,491$297
65+$1,700$338

Car Insurance Cost in Toronto by Driving History

Your driving history determines car insurance rates in Toronto because it’s a good way to gauge your overall risk. If insurers think you’re a safe driver based on your driving history, you’ll get lower premiums. Conversely, having many accidents on your record means you’re a high-risk driver who may get higher premiums.

Driving violations stay on your record for years, so you may need to buy specialized high-risk driver insurance to drive legally. Here’s a quick look at how different types of traffic violations can influence your insurance rates compared to a clean driving record, based on MyChoice’s price quote data:

Driving ViolationAverage Annual Car Insurance Premium
Clean driving record$2,139
Insurance cancellation due to non-payment$3,508
Licence suspension for alcohol-related offences$2,567
One accident$4,706
Speeding ticket$2,781

Driving in Toronto

As the largest city in the nation, Toronto has a lot of busy traffic. It pays to know essential information about driving in the city, so you can regulate risk and have the smoothest driving experience possible.

Here are some important details about roads, transportation, and tourist attractions in Toronto:

  • Major highways in Toronto: 401, 404, 407, Queen Elizabeth Way, Don Valley Parkway, and Gardiner Expressway
  • Public transit options: TTC (subway, bus, and streetcar), Metrolinx GO Transit (bus and trains)
  • Essential toll roads: 407 ETR
  • Ridesharing services: Uber and Lyft
  • Road trips around the city: Niagara Falls, St. Catharines, Kawartha Lakes, Muskoka cottage country and Lake Rosseau, Bruce Peninsula National Park, Blue Mountain, Algonquin Park
  • Parking space providers: City of Toronto Parking, Green P, Impark, private parking spaces
  • Top tourist attractions: CN Tower, Royal Ontario Museum, Art Gallery of Ontario, Ripley’s Aquarium of Canada, Toronto Islands, Toronto Zoo, St. Lawrence Market, Casa Loma
  • Busy intersections: Eglinton Ave. West and Martin Grove Road, Lawrence Ave. West and Black Creek Drive, St. Clair Ave. East and Mount Pleasant Ave., Finch Ave. and Yonge Street, Sheppard Ave. and Yonge Street
  • Airports: Pearson International Airport and Billy Bishop Toronto City Airport

Main Mode of Commuting in Toronto

A vast majority of Toronto’s commuters travel by personal vehicle, making up 61% of the city’s commuters. However, Toronto is also a public transit-friendly town, with 26.2% of the city’s commuters preferring it. Here’s a closer look at the main modes of commuting in Toronto:

Main mode of commutingCountsRates
Total – 25% sample data791,470100.0
Car, truck or van482,48061.0%
Car, truck or van – as a driver424,98553.7%
Car, truck or van – as a passenger57,4907.3%
Public transit207,68026.2%
Walked60,6157.7%
Bicycle15,7502.0%
Other method24,9453.2%

Commuting Duration in Toronto

Toronto is a big and busy city, so it makes sense that commute times can be a little long. 31.8% of Toronto’s commuters spend 15 to 29 minutes getting to work, while 28.1% of them spend 30 to 44 minutes doing so. Here’s a detailed look at the commuting duration in Toronto.

Commuting durationCountsRates
Total – 25% sample data791,470100.0
Less than 15 minutes130,35516.5%
15 to 29 minutes251,79531.8%
30 to 44 minutes222,01528.1%
45 to 59 minutes88,65511.2%
60 minutes and over98,65512.5%

Driving Conditions in Toronto

Your accident risk and insurance premiums may rise or fall depending on current driving conditions. Here are some key facts about driving conditions in Toronto:

  • Average daily commute time: 96 minutes both ways
  • Average annual rainfall: 831 mm
  • Average annual snowfall: 121.5 cm in winter
  • Rainy days per year: 136 days
  • Rainiest month in Toronto: July
  • Driest month in Toronto: February
  • Snow days per year: 45 days
  • Snowfall months in Toronto: November through April

Traffic in Toronto

Toronto is home to millions of people driving over one million cars. It’s a very busy city, and knowing the key facts about traffic in Toronto can help you regulate risk and ensure you don’t overpay for insurance. 

Here are some fast facts about traffic in Toronto:

  • Population: The Greater Toronto Area (GTA) boasts a population of over 6.4 million. 
  • Road length: Toronto boasts over 5,600 kilometres of road spread across 9,250 streets.
  • Daily commuters: Over 2.7 million people commute to Toronto every day.
  • Time spent in traffic annually: Most Torontonians spend about 47 hours each year stuck in traffic.
  • Average number of passengers in each vehicle: 67% of car trips in and out of Toronto are solo trips.
  • Busiest highways: Toronto’s portion of Highway 401 is the busiest highway in North America. Average Annual Daily Traffic data records over 400,000 vehicles that pass through it daily.

The bottom line is that Toronto is big and extremely busy. If you want to drive in Toronto, you need to be prepared for lots of traffic and congestion. In addition to traffic, you must deal with pedestrians and cyclists, meaning you need to really focus when driving in Toronto. Even if you practice good driving habits, Toronto auto insurance is mandatory. Get a quote with MyChoice and find the best insurance deals by comparing the entire market.

The Most Common Questions About Car Insurance in Toronto

How much is car insurance in Toronto?

The average car insurance cost in Toronto is $2,139/year in 2024.

Is there first-time car buyer insurance in Toronto?

There’s no specific first-time car buyer insurance in Toronto. However, if you’re a student or underage driver, you can ask to be included in your parent’s auto insurance policy. This way, you don’t have to pay for insurance yourself.

Can Toronto police stop you?

Toronto police officers can legally stop you for any reason, whether they believe you’ve committed a crime or not. They also have the power to ask for your licence and vehicle registration. Failure to comply may lead to an arrest.

How much is car insurance in Toronto after getting a G2 driver’s licence?

G2 driver’s licence holders may need to pay 25-50% more on car insurance in Toronto. G2 drivers are charged higher rates because most insurers see them as high-risk drivers due to inexperience.

How do Toronto car insurance rates compare to other cities in Ontario?

At $2,139/year, Toronto is above the provincial average of $1,673/year and is considered one of the more expensive cities for auto insurance.

Why do Toronto car insurance rates change so often?

Toronto car insurance rates often change because of factors like inflation, the rising cost of living, and changes in vehicle risk. Generally, car insurance rates change at the start of every policy year, pending approval from the Financial Services Regulatory Authority of Ontario (FSRA).

When is the best time to compare car insurance in Toronto?

The best time to compare car insurance costs in Toronto is near the end of your policy year. If your policy renewal is approaching, search the insurance market to find a better deal than the one you have now.

Is car insurance mandatory in Toronto?

Car insurance in Toronto is mandatory, as in the rest of Canada. Drivers who are caught driving without insurance may be fined or have their licence suspended.

How can you get cheaper car insurance in Toronto?

Compare car insurance rates in Toronto with MyChoice, or visit our main car insurance page to learn other ways of getting cheap car insurance quotes.

Sources

1. Mychoice.ca Internal Data, Most Expensive Postal Codes, Ontario, Toronto, Car Insurance Quotes Collected, 2024.

2. Mychoice.ca Internal Data, Least Expensive Postal Codes, Ontario, Toronto, Car Insurance Quotes Collected, 2024.

3. Mychoice.ca Internal Data, Rate Cost By Age, Ontario, Toronto, Car Insurance Quotes Collected, 2024.

4. Mychoice.ca Internal Data, Rate Cost By Driving History, Ontario, Toronto, Car Insurance Quotes Collected, 2024.

5. City of Toronto Website, Driving & Transit Information. Data Collected, 2024.

6. Statistics Canada, 2021, Census of Population, Ontario, Toronto, Main Mode of Commuting. Data Published March 29, 2023.

7. Statistics Canada, 2021, Census of Population, Ontario, Toronto, Commuting Duration. Data Published March 29, 2023.

8. Weather Network Canada, Historical Averages, Ontario, Toronto.

9. 511 Ontario Traveller Information, Ontario, Toronto.

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