The savings is only applied to the cost of insurance. Each product must be separately underwritten. The savings are applicable to RBC Insurance clients who purchase through or have at least two of the following RBC insurance policies currently in force: home insurance, auto insurance or RBC Simplified® Term life insurance policy. This offer can’t be combined with any other offer and may be changed or cancelled without notice. Certain conditions apply.

In order to operate a vehicle in Canada, you are required to have a valid car insurance policy in place at all times. Car insurance policy requirements vary from province to province, depending on the type of insurance system each is mandated by (public vs. private). However, you need to have a minimum amount of third-party liability insurance, to protect yourself financially in the event that you injure someone or damage their car/property. You’ll also need a minimum amount of accident benefits protection, which provides you with coverage for any medical/rehabilitation costs that occur as result from an accident.

The chart above illustrates the average auto insurance premiums across Canada. Typically the province of Ontario is characterized by the highest auto insurance rates. Quebec, as a rule, has more affordable car insurance premiums since the health part of the insurance (e.g. bodily injuries) is covered by the government. Not all provinces allow customers to choose from a variety of insurers. Three provinces have crown companies being the only source of vehicle insurance:

This insurance is required by law throughout Canada. It covers the costs associated with damages caused to another person or vehicle in an accident, including medical bills, rehabilitation, lost earnings, legal fees, and other expenses up to the limit of your policy. As a practical matter, you'll want enough insurance to cover a judgment against you in a major accident so that your personal assets won't be put at risk.

To make sure you get all the available discounts, we apply savings automatically during your car insurance quote. Keep in mind, a lot goes into determining your price, including the vehicle you drive, where you live, how much you drive, and your driving record — as well as coverages, deductibles, and limits. In some provinces your age, gender, and marital status may be factors. Your agent can help you decide how best to balance coverage and price and confirm you're getting all the discounts you're eligible for.

Those that will continue your driving record: Some companies will consider your previous experience and will offer you a rate based on how long you have been driving, no matter where you got your on-road experience. Check with a broker to see which companies consider previous out-of-Canada experience so you can reduce your chances of a denial and increase your chances of getting the best possible rate.
Similarly, many Ontario auto insurance companies have discounts available to customers who install additional safety features, upgrades or alarms in their vehicle. To save money, high risk drivers should also consider trading in their cars for a different model equipped with better safety equipment or one that rates low in car theft frequency or fares better in collisions. Information is available from the Insurance Bureau of Canada, which issues a Canadian Loss Experience Automobile Rating (CLEAR) that’s used by several Ontario auto insurance companies in setting premiums.
Car owners in Canada are required to insure their vehicle on some level. This is because car accidents happen every day, and the people who are involved in these accidents need to have protection for themselves, their passengers and their vehicles. Avoiding citations for lack of insurance can be handled simply by purchasing the cheapest insurance policy a driver can find.

Disclaimer: NerdWallet strives to keep its information accurate and up to date. This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. All financial products, shopping products and services are presented without warranty. When evaluating offers, please review the financial institution’s Terms and Conditions. Pre-qualified offers are not binding. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion® directly.
In order to operate a vehicle in Canada, you are required to have a valid car insurance policy in place at all times. Car insurance policy requirements vary from province to province, depending on the type of insurance system each is mandated by (public vs. private). However, you need to have a minimum amount of third-party liability insurance, to protect yourself financially in the event that you injure someone or damage their car/property. You’ll also need a minimum amount of accident benefits protection, which provides you with coverage for any medical/rehabilitation costs that occur as result from an accident.
Other discounts can include vehicle amenities, such as using snow tires for winter driving or adding approved anti-theft devices. Usage-based insurance programs are on offer from some insurers. These track how your vehicle operates. Factors such as acceleration and braking report through a smart phone or diagnostic device. Participating insurance companies offer a discount when you sign up for the program and good driving habits potentially generate further savings.
Many Ontario drivers have additional third party insurance coverage. This is a wise move since the provincial requirement is only for $200,000. Settlements from serious accidents often exceed this amount. Any amount in excess of insurance coverage remains the responsibility of the driver. To guard against serious financial strain, it’s common to add liability coverage to $500,000 and beyond.
Certain conditions, limitations and exclusions apply to all our offers. Not everyone will qualify for a phone or online quote. Insurance products provided by Trafalgar Insurance Company of Canada. Services provided by belairdirect Agency Inc. ®belairdirect. and ®Little Knight Design are registered trademarks of Belair Insurance Company Inc. used under licence. © 2018 Belair Insurance Company Inc., content used under licence by belairdirect Agency Inc. All rights reserved.

Review your deductibles: If you have collision and comprehensive coverages included in your auto insurance policy, see how much your deductibles are. If they are set at $500, increasing them to $1,000 will typically save you about five to 10 per cent. Only increase them however, if your budget allows for it because the deductible is what you’ll have to fork out should you need to submit a claim.
Did You Know? New reforms to Ontario insurance law took effect on June 1st 2016 that are meant to reduce the average costs for basic policies. The new policies will also include less coverage, but you will have more choice to pick what extra coverage you want. As of the summer of 2017, the results of this new reform have been mixed and consumers are encouraged to continue shopping around to find the best rates.
A car insurance deductible, in essence, is a predetermined amount of money required to be paid by the policyholder when a claim is filed. In Ontario, deductibles can vary, with standard base amounts at about $500 for collision coverage and $300 for comprehensive coverage. A higher deductible can mean lower car insurance premiums but means more money comes out of your pocket during a claim.
Did You Know? New reforms to Ontario insurance law took effect on June 1st 2016 that are meant to reduce the average costs for basic policies. The new policies will also include less coverage, but you will have more choice to pick what extra coverage you want. As of the summer of 2017, the results of this new reform have been mixed and consumers are encouraged to continue shopping around to find the best rates.
Getting married? Moving? Adding a teen driver to your policy? Make sure your insurer still offers you the best deal: As your life changes, so will your auto insurance rates which means your current insurer may no longer be the one who offers you the most affordable coverage. At minimum, you should be putting your insurer’s auto insurance premiums to the test every year by shopping around.
If you are self-employed, income means your share (proportionate to your ownership interest) of the income or loss of the business net of all business expenses except income taxes. If you are an incorporated business owner, you may also include any wages, salary, fees or commissions which the incorporated business paid to you as an employee of the business.
We know that you want to get the best car insurance rates and coverage. Getting the best auto insurance is somewhat subjective. It all depends on your current situation, driving and insurance needs. For some people, the best car insurance is based on getting the cheapest car insurance rates. For others, it’s about getting specific coverage or having access to Toronto insurance brokers who provide great customer service.
These policies are unique because ride-share drivers are in a unique position. You use your personal vehicle for business purposes, blurring the lines between commercial and personal auto insurance coverage. Ride-share insurance was created to fill that gap. To learn more about insurance for Uber drivers and similar ride-sharing programs, visit our ride-share insurance page here. 
Disclaimer: NerdWallet strives to keep its information accurate and up to date. This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. All financial products, shopping products and services are presented without warranty. When evaluating offers, please review the financial institution’s Terms and Conditions. Pre-qualified offers are not binding. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion® directly.
As a resident of Ontario, you will automatically qualify for a 5% discount on eligible coverage* if you complete a car insurance quote using our online quoter right now. The personalized quote will also be emailed to you so you can refer to it at any time. If you want to save up to an additional 25% on your premium, download and use the TD MyAdvantage app!
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