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What are the best car insurance companies in Canada?

Here's what you need to know...
  • Car insurance laws vary according to what Canadian province you live in
  • Research a number of car insurance companies to find the best company for your needs
  • Finding car insurance in Canada is similar to how it is done in the United States
The best Canadian auto insurance companies will depend on several factors.

In Canada, there are individual differences in drivers, rates, providers and insurance laws from province to province.

The most important rule you can follow in purchasing car insurance in Canada is to begin by comparing the rates and reviews of several car insurance companies.

Are you looking to compare Canadian car insurance rates? Click here and enter your ZIP code for a FREE list of car insurance quotes.

Is car insurance required in Canada?

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Just like in the United States, you are required to purchase car insurance if you are planning to drive in the country of Canada.

Insurance regulations are governed by a document known as the “Code of Consumer Rights and Responsibilities.”

Although car insurance is required in the country, the exact details of the type and how much insurance you need varies depending on which province you are in.

What should you look at when comparing Canadian ?

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Research several car insurance providers, and get a list of quotes online by providing some basic information about yourself.

These quotes will help you to get an idea of the cost you will be paying and help you to eliminate companies offering a minimal policy for a high premium.

Once you have narrowed your list down, do some additional research on the companies you are considering.

Consumer Reports rates insurance companies based on several factors including premium costs, deductibles, claims paid out, and cancelled policies.

Additionally, look into online forums where people discuss their experiences, both good and bad, with various companies.

Finally, try to talk to some local repair shop managers in your area. They often know which companies are easy to deal with and which will fight every claim that comes their way.

Once you have narrowed your list down further, continue to research online or opt to speak with a company agent directly.

How do I search for car insurance in Canada?

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There are a number of insurance companies located in the provinces of Canada.

If there is one in your local area, you can call them or stop in at the office to speak with a representative face-to-face.

You can also do a general search online to find insurance companies near you.

You can work with an insurance company directly or you can use an insurance broker. A broker will search a number of companies and policies to find the best policy for you at the best price.

One of the best ways to find an insurance company in Canada is to ask friends or coworkers as to who they use for insurance and if they are satisfied.

If they are happy with their coverage, you can get a referral from them and you can feel comfortable that you are working with a trusted agent and company.

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How can I save money with Canadian auto insurance?

Canadian car insurance companies offer ways to help save you money.

One way is through different discounts. When you are searching for car insurance, ask the representatives about any discounts that are offered by the companies.

If you are eligible for them, you may be able save a good amount on your insurance premiums.

Another way to spend less on your insurance rates is by choosing a higher deductible or a lower limit.

Although these may increase your out-of-pocket expenses in the case of an accident, it will decrease your premium.

Speak to your representative to see what choices you can make to help lower the cost of your insurance, if that is a goal of yours.

What personal factors must you consider when shopping for a Canadian auto insurance company?

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Insurance companies evaluate you using several factors to determine the level of risk for them in agreeing to take you on as a client.

You should try to find out what factors an insurance company will be using and then determine which ones will be more forgiving than others.

For example, some companies have accident forgiveness policies while others raise your rate for every minor infraction.

Here are some common factors that insurance companies will use when rating you as a driver:

  • Driving record
  • Car make, model, and age
  • Driver’s age and gender
  • Driver’s occupation
  • Location where you live and work
  • Average monthly or annual mileage
  • Credit rating
  • Parking location

What provincial laws impact Canadian auto insurance companies?

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While some laws remain the same nationwide, many insurance laws differ from province to province and may impact the insurance provider you decide is best for you.

Auto insurance is required in all provinces, and all provinces also maintain that you must have liability insurance at the very least.

  • In British Columbia, Saskatchewan, and Manitoba there are government run insurance companies which provide you with a basic level of coverage.
  • In Quebec, bodily injury claims are covered by the government plan; all other auto claims that occur while you are travelling outside Quebec must be covered by private insurance.
  • In Ontario and Quebec, insurance must be able to compensate you for the loss of the use of your automobile and your share of the damage when another driver is at fault in an accident.
  • Accident Benefits Coverage, which compensates you and your passengers for injuries regardless of who is at fault is mandatory everywhere except Newfoundland and Labrador.

Lawsuit laws are also different from province to province which means the amount of liability coverage you need to carry is different.

  • Quebec, Saskatchewan, and Manitoba have laws that state you cannot sue for pain and suffering.
  • In Ontario, pain and suffering can only be included in a lawsuit where you can prove that serious bodily injury or disfigurement has occurred.

If you are looking for additional information on Canadian auto insurance laws, you can contact the Insurance Bureau of Canada or Transport Canada.

Get started now comparing Canadian car insurance quotes and policies by simply entering your ZIP code here!

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