gmc sierra truck on roadway with blue skies in the background

June 17, 2019

How much does it cost to insure Canada’s top ten vehicles for 2018?

1 min read


See the latest version of this post: How much to insure Canada’s top 10 vehicles in 2023?

The top ten selling vehicles of 2018 make up one third of all the vehicles sold in Canada during that year. These models are super-popular, and in fact, you might be looking into buying one right now. If you are looking at one of these beauties, you might want to know how much it would cost you to insure it. So we decided to run some quotes for you.

Premiums for top ten selling cars of 2018

The quotes below are by no means something you can take to the bank. (We’ve ranked them from cheapest to most expensive.) They represent the best quotes that we were able to get for the minimum accident benefits, $1 million liability, collision and comprehensive coverage for the base models of these vehicles, based on a 48-year-old male driver with a clean record, living in the suburban GTA. Your premium would vary based on your age, address, driving record and a number of other factors.

Insurance Premiums For Top Ten Selling Vehicles of 2018
Sales ranka 2018 Best-selling vehiclesa Best premiumb
#9 Ford Escape $1,330
#7 Honda CR-V $1,335
#6 Chevrolet Silverado $1,348
#4 GMC Sierra $1,370
#1 Ford F-Series $1,405
#5 Toyota RAV4 $1,438
#10 Hyundai Elantra $1,467
#3 Honda Civic $1,498
#8 Toyota Corolla $1,547
#2 Ram 1500 $1,578 – The 10 best-selling vehicles in Canada in 2018; bInsurance rates: Mitch auto insurance quoter

The main thing you should take away from this list is that the kind of car you drive can make a significant difference in how much you pay for insurance, and it has nothing to do with the old myth that you pay more for a red sports car. (In fact, your insurance representative won’t even ask what colour the car is.)

But before you run out and buy one of these cars because we told you it’s cheaper to insure, check out this other list of quotes, for the same vehicles, but this time for a 38-year-old female driver with a different postal code, also in the GTA:

Table 2. Insurance premiums for top 10 selling cars of 2018 – 38-year-old female driver
Sales ranka 2018 Best-selling vehiclesa Best premiumb
#1 Ford F-Series $1,389
#4 GMC Sierra $1,400
#6 Chevrolet Silverado $1,400
#7 Honda CR-V $1,405
#9 Ford Escape $1,489
#5 Toyota RAV4 $1,566
#2 Ram 1500 $1,637
#10 Hyundai Elantra $1,686
#3 Honda Civic $1,701
#8 Toyota Corolla $1,792 – The 10 best-selling vehicles in Canada in 2018; bInsurance rates: Mitch auto insurance quoter

There are obviously similarities in the lists, but the one thing that you can’t say for certain is that a particular car is the cheapest to insure for all drivers. Also, note that the same driver could actually pay a different premium for the same car, depending on when you bought it. Generally, your premium will be lower for a car that you’ve been driving longer.

That’s why if you’re in the market for a new vehicle, it’s never a bad idea to call your insurance broker for quotes on the different cars you’re considering. A ten minute call for a quote could save you 400 bucks a year! We’re always happy to help with your car shopping. Give us a call today.

Looking for car insurance?

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

Call now


Leave a comment

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

Didn’t find what you were looking for?

Check out some of our other insurance products.