Once you hit the age of 55, 65, or even 70, you usually qualify for some kind of “senior” discount with most businesses. The same is true of car insurance companies! Some of the best car insurance companies in Ontario for older drivers offer great discounts to help you save money as a senior.
Looking for the perfect insurance company as an older driver? With many excellent choices available, it’s helpful to compare them. While factors like reviews, reputation, and history matter, we’ll focus on price comparisons here. Check out our side-by-side comparison of Ontario’s top car insurance companies for older drivers based on their prices. Don’t forget to see our 2024 list of the best car insurance companies in Ontario for a broader overview!
Key findings
- We found that CAA was the best insurance company by price for older drivers in Ontario, with the average rate 20% more affordable than the runner-up, Commonwell.
- Along with being the most affordable on average, CAA was the most affordable insurance company for all of our 6 regular market drivers.
- We also found that JEVCO was the most affordable option for our high-risk auto insurance companies, being about 20% more affordable than the runner-up, Coachman.
The rankings
In the two lists below, you can see our rankings for the best standard market and high-risk car insurers based on the affordability of their rates for older drivers.
Best regular market
- CAA
- Commonwell
- Aviva
- SGI
- Zenith
- Wawanesa
- Intact
- Economical
- Pembridge
- Travelers
Best high-risk market
- JEVCO
- Coachman
- Echelon
- Pafco
We couldn’t put these two lists together because high-risk insurers, aka insurers who cover drivers with spotty payment histories, a history of at-fault claims, or numerous convictions, tend to charge twice or three times as much as standard insurers. To give a better sense of how these insurers fare, we separated them into different lists.
How we’ve ranked our insurers for 65+ year-old drivers in Ontario
Below, we’ve created a list of eight fictious drivers over the age of 65. We put these individuals into the system we use to pull quotes and recorded prices we got from several of our partners. To make things fair, we used the same coverages, deductibles, driving distance and annual mileage, parking location, policy limits, etc.
Meet our older drivers
- Ricardo, 82, male, married, Windsor (N9A), clean record
- Drives a 2013 DODGE GRAND CARAVAN SE Plus FWD
- Joanna, 68, female, married, Port Dover (N0A), following too closely in 2022
- Drives a 2018 MAZDA MAZDA6 GS-L Sedan FWD
- Damien, 71, male, divorced, Brockville (K6V), clean record
- Drives a 2017 HONDA CIVIC HATCHBACK LX FWD
- Maureen, 65, female, married, Ottawa (K1B), speeding ticket in 2023
- Drives a 2015 KIA SPORTAGE LX FWD
- Michael, 86, male, widower, Oshawa (L1G), unsafe turn in 2021
- Drives a 2020 VOLKSWAGEN JETTA SE FWD
- Jae, 78, female, widowed, Owen Sound (N4K), clean record
- Drives a 2018 TOYOTA CAMRY XSE V6
- Sean, 69, male, married, Orillia (L3V), distracted driving conviction in 2021, speeding tickets in 2021 & 2022
- Drives a 2015 SUBARU LEGACY 2.5i AWD
- Brooke, 70, female, divorced, Newmarket (L3Y), DUI in 2022, speeding ticket in 2024
- Drives a 2015 TOYOTA SIENNA XLE 7-PASSENGER AWD
| Company | Ricardo | Joanna | Damien | Maureen | Michael | Jae | Regular Market Avg. | Sean | Brooke | High Risk Avg. |
|---|---|---|---|---|---|---|---|---|---|---|
| Aviva | $1,411 | $1,927 | $1,356 | $1,494 | $2,189 | $2,118 | $1,749 | |||
| CAA | $1,289 | $1,132 | $961 | $912 | $1,695 | $1,724 | $1,285 | |||
| Commonwell | $1,494 | $1,527 | $1,190 | $1,387 | $1,874 | $1,751 | $1,537 | |||
| Economical | $2,212 | $2,221 | $1,641 | $1,924 | $2,720 | $2,300 | $2,169 | |||
| Intact | $2,064 | $2,217 | $1,698 | $1,820 | $2,487 | $1,987 | $2,045 | |||
| Pembridge | $2,612 | $3,083 | $1,687 | $2,245 | $3,672 | $3,606 | $2,817 | |||
| SGI | $1,725 | $1,920 | $1,345 | $1,649 | $2,008 | $1,895 | $1,755 | |||
| Travelers | $4,464 | $3,792 | $2,784 | $2,940 | $5,304 | $3,324 | $3,768 | |||
| Wawanesa | $1,584 | $2,503 | $1,272 | $1,813 | $2,613 | $1,993 | $1,963 | |||
| Zenith | $1,900 | $1,602 | $1,455 | $1,644 | $2,344 | $2,182 | $1,854 | |||
| Coachman | $3,510 | $5,608 | $4,559 | |||||||
| Echelon | $3,660 | $8,378 | $6,019 | |||||||
| JEVCO | $2,861 | $4,952 | $3,906 | |||||||
| Pafco | $4,167 | $9,396 | $6,781 | |||||||
| 1Data source: Mitch auto insurance quoter | ||||||||||
Overall, CAA ended up having the most affordable rates for our fictious drivers, with Commonwell the runner-up, and JEVCO had the best rates for our high-risk drivers. Keep in mind that just because CAA was the best on average for our drivers, another insurance company might be optimal for you and your budget. Give us a call.
Why is age such a significant factor in insurance premiums?
Because age tends to equal experience, which usually means a better driver. The more time you spend on the road, the likelier you are to not file a claim, as you’ve had plenty of years’ worth of driving to learn what to/what not to do. 20- to 25-year-olds tend to pay the most for their insurance since they’re usually new drivers, often fresh off their parents’ insurance policies, and are often associated with the highest claims’ frequency.
However, some (not all) insurance companies will rate older folks’ higher after they reach a certain age, with rates increasing by as much as 20% around the ages of 75 to 85. We’ve taken one of our fictious drivers from above, Jae, and re-run quotes for her for ages 99, 85, 75, 65, 60, and 55, to show the difference. See below.
| Company | Jae (99) | Jae (85) | Jae (75) | Jae (65) | Jae (60) | Jae (55) | ||
|---|---|---|---|---|---|---|---|---|
| Aviva | $2,159 | $2,121 | $2,084 | $2,088 | $2,142 | $2,191 | ||
| CAA | $1,877 | $1,877 | $1,595 | $1,388 | $1,393 | $1,411 | ||
| Commonwell | $1,751 | $1,751 | $1,751 | $1,751 | $1,751 | $1,751 | ||
| Economical | $2,394 | $2,375 | $2,227 | $2,087 | $2,130 | $2,205 | ||
| Intact | $2,063 | $2,107 | $1,990 | $1,978 | $2,035 | $2,202 | ||
| Pembridge | $3,804 | $3,811 | $3,304 | $3,223 | $3,398 | $3,658 | ||
| SGI | $1,895 | $1,895 | $1,964 | $1,924 | $1,901 | $2,030 | ||
| Travelers | $5,052 | $3,696 | $3,180 | $3,000 | $3,192 | $3,300 | ||
| Wawanesa | $2,145 | $2,061 | $1,938 | $1,996 | $2,095 | $2,214 | ||
| Zenith | $2,977 | $2,359 | $2,136 | $2,183 | $2,228 | $2,294 | ||
| 2Data source: Mitch auto insurance quoter | ||||||||
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