The best insurance companies for Ontario drivers with clean records in 2023

 Share

In 2023, CAA Insurance is the best insurance company for drivers with clean records in Ontario. We ranked insurers based on quotes we ran for seven drivers with at least 10 years of auto insurance experience, with no tickets or at-fault accidents. CAA had the best average premiums, and the lowest rate for four of the seven drivers. Wawanesa, Portage La Prairie and Aviva had the lowest premium for the other three.

Auto insurance premiums are calculated based on a number of factors that are unique to you, including your age, gender, where you live and the type of vehicle you drive. But insurers don’t all use the same formulas, so if you ask for quotes from 30 companies, they’ll all have different prices.

The question most Ontarians want answered is, who has the best rates for me? Well, if you’re a driver with at least 10 years of perfectly clean driving experience, there’s a good chance it’s CAA Insurance. But if you’re like Abigail, one of the drivers in the study, you’d pay 16% less with Wawanesa. Mitch Insurance, as a licensed insurance brokerage, can get you quotes for both, and at least another dozen companies that could have your best rate.

The rankings

  1. CAA
  2. Aviva
  3. Commonwell
  4. Wawanesa
  5. SGI Canada
  6. Economical
  7. Gore Mutual
  8. Intact
  9. Zenith
  10. Pembridge
  11. Travelers

These rankings are based solely on rates for drivers with at least 10 years of driving experience with no blemishes on their records. It’s important to note that price should never be the only factor you consider when choosing an insurer. For a broader comparison of Ontario auto insurance companies and how they perform in terms of service, claims, customer satisfaction, etc., take a look at our 2023 post on the best auto insurance companies in Ontario.

For the purposes of this ranking, we used our online auto insurance quoter to get competitive quotes for seven different Ontario drivers. All have clean records but represent different age groups, genders and geographical regions. They also drive different vehicles.

Key findings:

  • CAA Insurance offers the best premiums, on average, for Ontario drivers with clean records (9% lower than the closest competitor, Aviva).
  • Four different companies – CAA, Aviva, Wawanesa and Commonwell – offer the lowest rate for at least one of seven driver profiles in this study.
  • For the three profiles that CAA didn’t win, other insurers beat their price by 1-16%.
  • The slightest changes even in postal code and vehicle condition can change which company has the lowest price for a given driver. Note that Abigail could get her best rate from four different companies with these minor variations in her profile.

How did we arrive at the rankings?

When choosing an insurance company, there are a number of factors that can impact your decision. Most, like service hours and claims experience, are the same regardless of your driving record. The rankings above are a reflection of the one factor that does vary by driving record: premiums.

To arrive at the premium quotes below, we created seven fictional driver profiles and entered their particulars into the quoter. The only thing they all have in common is that none of them has a ticket or at-fault accident on their record.

Meet our fictional drivers:

  • Abigail, Female, 27, Married, Sarnia (N7W)
    Drives a 2014 HYUNDAI ACCENT GL 4DR
  • Mateo, Male, 35, Divorced, Welland (L3C)
    Drives a 2018 MITSUBISHI OUTLANDER SE V6 4DR AWD 
  • Aubrey, Female, 42, Single, Port Hope (L1A)
    Drives a 2019 FORD EDGE SEL 4DR 2WD
  • Ping, Gender X, 51, Common-law, Toronto (M5T)
    Drives a 2021 MINI COOPER COUNTRYMAN S ALL4 4DR  
  • Jagmeet, Male, 63, Widower, Aurora (L4G)
    Drives a 2016 GMC TERRAIN DENALI V6 4DR AWD
  • Janusz, Male, 77, Married, Courtice (L1E)
    Drives a 2021 INFINITY Q50 LUXE 3.0T 4DR AWD
  • Josette, Female, 84, Widowed, Burlington (L7M)
    Drives a 2017 TOYOTA CAMRY XLE HYBRID 4DR

All the quotes below are based on full coverage, a $1,000 deductible, and a winter tire discount.

Insurance rates for drivers with clean records
 AbigailMateo[1]AubreyPingJagmeetJanuzs[2]JosetteAvg
CAA$1,407$1,579$1,357$1,549$968$1,628$1,267$1,394
Aviva$1,493$1,701$1,606$1,701$1,358$1,463$1,343$1,524
Commonwell$1,526$2,396$1,349$2,506$1,398$1,534$1,683$1,770
Wawanesa$1,176$2,037$1,686$2,371$1,419$2,230$1,729$1,807
SGI Canada$1,633$1,962$1,577$2,659$1,588$2,617$1,677$1,959
Economical$1,688$2,048$1,430$2,419$1,519$2,629$2,156$1,984
Gore Mutual$1,395$2,055$1,370$3,078$1,879$2,532$2,253$2,080
Intact$1,864$2,303$2,045$2,812$1,835$2,638$2,027$2,218
Zenith$2,142$2,631$2,092$1,679$1,405$3,947$1,904$2,257
Pembridge$1,665$2,560$2,473$3,647$2,002$2,424$2,520$2,470
Travelers$2,520$3,396$2,220$4,188$2,640$4,392$3,168$3,218

[1] Outlander is expensive to insure. Driving a Dodge Ram, Mateo would pay $1,222 with CAA.

[2] Q50 is expensive to insure. Driving a RAV4, Janusz would pay $1,139 with Commonwell.

CAA Insurance had the lowest average price by 9% over Aviva, but Abigail, Aubrey and Janusz would find their best rate elsewhere.

The important point to take away is that regardless of the averages, any individual driver could get their best rate from a number of different insurers, so it pays to use a licensed insurance broker like Mitch to compare rates from as many companies as possible. 

How does clean driving experience affect your premiums?

It’s broadly understood that insurance companies give you better prices the longer you’ve been driving with no tickets or claims. New drivers tend to see considerable savings year over year, while experienced drivers don’t save quite as much for adding another year of experience.

To illustrate, we took our most and least experienced drivers from the study, and, since they are fictional drivers anyway, saw what happened to the premiums they were quoted as we took away years of experience. As suspected, Abigail saw a lot of savings (56%) going from one year of experience to 10. Josette, on the other hand, only saw 29% savings going from 10 years’ experience to 50, and actually paid a little more by the time she hit 60 years’ experience.

Premiums by driving experience for Josette (84)
Driving experience10 years20 years30 years40 years50 years60 years68 years
Premium$1,743$1,503$1,375$1,273$1,230$1,241$1,267
Savings14%9%7%3%

29% savings from 10 years’ experience to 50.

Premiums by driving experience for Abigail (27)
Driving experience 1 year 2 years 3 years 4 years 5 years 6 years 7 years 8 years 9 years 10 years
Premium $2,666 $2,512 $2,270 $2,023 $1,731 $1,455 $1,353 $1,321 $1,229 $1,176
Savings 6% 10% 11% 14% 16% 7% 2% 7% 4%

56% savings from one year’s experience to 10.

How often do the rankings change?

Auto insurance companies in Ontario submit their financial results to the provincial regulator – the Financial Services Regulatory Authority of Ontario (FSRA) – quarterly, and use that data to apply for changes to their rates, if needed. In a given quarter, an insurer with lower rates could lose money and increase premiums. Likewise, a company with higher rates could make a big profit and decide to lower rates to try to win new customers. For this reason, the rankings here can and do change. Usually not radically in one quarter, but the list could certainly look very different in two years.

How do I get my best rate?

If you’re a really conscientious driver, and are proud of your long record of clean driving, no doubt there are a number of insurance companies that want your business. But the reality is that the insurer that gave you the lowest price last year won’t necessarily have your best rate this year. That’s just the ebb and flow of the insurance industry.

At Mitch, we want you to get your best rate every time, which is why we recommend working with a licensed insurance broker, like us! When you become a member of the Mitch family, no matter how a given insurance company’s premiums go this year or next, your best rate is always right here. Call and talk to one of our awesome brokers. You’ll be glad you did.

Looking for car insurance?

Speak with a Mitch Insurance broker today to get a quote on Ontario auto insurance.

Call now

1-800-731-2228

Leave a comment

Your email address will not be published. Required fields are marked *