Auto insurance Recent Posts

Shopping for car insurance in Ontario offers a wealth of options from many different providers. But how do you know which insurance company is the best?

Here’s the total breakdown of the best auto insurance companies in Ontario for 2025, including the different markets of insurers that exist, how they compare by price, coverage, and more.

How do you judge the quality of an auto insurer?

Here are three ways you can rate an insurance company:

While there’s no true and tried way to tell which Ontario auto insurance company is “best”, we’ve compared our auto insurance partners on several key elements, including Google reviews, product offerings, size, and more.

We analyzed over 4,000 new auto insurance policies to see which companies our clients are choosing after reviewing their needs with one of our insurance brokers. CAA was the top choice, with 18% of drivers selecting them.

As we break things down by demographics, we see that the best insurer varies for drivers based on their unique circumstances. For drivers under the age of 40, Aviva was the most popular insurance company, with 13% of drivers choosing them.

Insurance companies have different risk appetites, and finding the carrier that is right for you requires careful consideration. Working with an insurance broker can make choosing the right provider easier, as they can review your situation and match you with the company that provides the coverage you need at the best possible price.

The average premium for car insurance is often greatly impacted by the age of the drivers listed on the policy. Younger drivers often pay more than double what senior drivers pay. This makes shopping for insurance even more important for young drivers to ensure they are getting the best rate for the coverage they need.

Every insurance company has a different target market, and a carrier can be “best” for you depending on several factors including who you are.

We analyzed what companies carriers our clients chose after speaking with a broker about their insurance needs and found the following:

When it comes to insurance, “cheap” and “affordable” have very different meanings. You’ll want coverage that balances price with great protection, meaning the right policy for you won’t always be the one with the lowest- cost. A good broker will help you find the best fit in terms of coverage, protection needs, ratings, service, and more.

Here are a few things to keep in mind when evaluating an insurance company:

The size of an insurance company can be a good indicator of two things: first, its pools of funds to continue paying out claims, and second, its ability to focus on building relationships with its customers.

There are benefits to both small and large insurers. Here’s a comparison:

Online reviews and ratings can be a great way to gauge what kind of service you might expect from an insurance company. However, take these with a grain of salt, because:

One important factor to consider when reading reviews is how easy it is to contact an insurance company in the event of a claim and whether they dispute coverage. If you notice a consistent pattern of complaints about this in reviews, it could indicate issues with the company’s reputation.

Many auto insurance companies have their own business specialty. Below, we’ve outlined different types of auto insurance to show what coverage is typically offered by providers in Ontario.

Standard market auto insurance companies provide coverage for policyholders with typical driving records and common vehicles. These vehicles are usually used only for pleasure or commuting, are not right-hand-drive, have no modifications, and the individuals driving them haven’t had more than three at-fault accidents or tickets on their record (or a combination of). This category makes up the bulk of auto insurers. Standard market carriers include providers that we work with such as Aviva, CAA, Commonwell Mutual, Travelers, Intact, Pembridge, SGI, Wawanesa, and Zenith. These companies also offer property insurance, and you can often save money by bundling your home and auto insurance policies together.

Someone may not have a poor driving record, but might own a highly collectible vehicle. With a collectable vehicle, you may be looking for insurance that allows for limited driving, and covers the vehicle at a specific appraised value. One of the most popular specialty insurance companies is Hagerty, which specializes in collectible cars.

High-risk auto insurance is for people who don’t qualify for standard market coverage due to their driving history or vehicle. Insurers that specialize in this include companies such as Coachman, Echelon, Jevco, Pafco, and Facility Association.

High-risk auto carriers usually only offer car insurance so you may not be able to bundle your home policy with them. However, your broker can place your home insurance with another provider, allowing you to keep both your home and auto policies with the same brokerage.

Most drivers remain with a high-risk car insurance company for one to three years and can return to the standard market once their driving record improves. Working with a broker who has access to both high-risk (or non-standard) and standard market companies will make your transition easier. Since they already know you, they can easily re-market you as your record improves.

Some common reasons a driver may be classified as a high-risk driver include:

Uber and Lyft have skyrocketed in popularity in recent years, and an increasing number of people are driving for these ridesharing services. Whether you transport people or food, doing so for a business changes the usage of a vehicle and often standard market insurers won’t cover that type of risk.

Rideshare vehicle insurance companies exist to offer specialized coverage for these drivers. Many personal auto insurance policies specifically exclude ridesharing. However, some carriers such as Aviva, Economical and Intact allow ridesharing when using your vehicle with an approved ridesharing network.

It is important to talk to your broker if you plan to use your vehicle for ridesharing so that they can find the right company to provide the coverage you need.

If you use your vehicle for business purposes, such as hauling tools and equipment or transporting passengers, it no longer qualifies for standard market auto insurance.

Commercial auto insurance can be more or less expensive than standard auto insurance, depending on various factors. The biggest factor for heavy vehicles (anything over 4,500 kg) is prior experience. Most commercial auto insurers require three years of experience. You may be asked to provide letters of experience from previous insurance companies to verify your history.

Some commercial auto insurance carriers also cover farm vehicles. Great options for commercial auto insurance that we work with include Aviva, Economical, Commonwell Mutual, Wawanesa, Travelers, Intact, SGI, and Facility. Many of these companies also offer additional types of commercial insurance such as commercial general liability, allowing you to keep all your commercial coverage with the same provider.

At Mitch, we’re always ready to help find the best auto insurance company for you. We’ll make sure you get a great price, excellent service, and the coverage you need. Give us a call.

Prices are rising on pretty much everything, including insurance. That being said, there are many different ways to save on auto insurance, including increasing your deductible.

While this can lower your premium, if you need to make an insurance claim it’ll involve you paying more out of pocket. Wondering how much raising your deductible could save you and whether it’s worth potentially having higher expenses after a claim? We’ve got all the info you need.

A deductible is the portion of an insurance claim, that you, as the policyholder, are assuming responsibility for in the event of an at-fault accident. Your deductible is listed in your insurance policy, and this is the dollar amount that you agree to pay as part of the claims process.

In auto insurance specifically, deductibles can apply to multiple types of coverage. 

Higher deductibles usually apply to optional coverages. While uninsured motorist coverage technically has a deductible, it’s fixed at $300 and that can’t be changed.  

Now that direct compensation-property damage (DC-PD) is optional, drivers can also choose to add a deductible. However, insurance brokers typically advise against this since DC-PD applies in not-at-fault claims, and drivers could be stuck paying a deductible even when an accident wasn’t their fault. 

A higher deductible usually means a lower premium. This is because raising your deductible increases your percentage of financial risk, thereby lowering your insurer’s.

The relationship isn’t proportional though, so increasing your deductible from $500 to $1,000 doesn’t mean your rates will decrease by $500 a year.

To demonstrate the impact that increasing your deductible can have on your rates, we ran insurance quotes for a fictional driver using different deductibles ranging from $500 – $4,000 for collision and comprehensive coverage.

Our fictional driver is Dean, a 39-year-old, married male who lives in Scarborough, Ontario. He drives a 2020 Volkswagen Tiguan and has a clean driving record with no claims or tickets. He has collision and comprehensive insurance on his policy.

Looking at the average premiums above, increasing his deductible from $500 to $4,000 could save Dean 10% on his collision and comprehensive coverage. This figures jumps to 13% if his policy was with SGI.

It’s more common for drivers to increase their deductible from $500 to $1,000 or even $1,500 as opposed to $4,000. Using the average premiums from the chart, raising his deductible to $1,000 would save Dean 3% on his collision and comprehensive coverage. Going up to a $1,500 deductible would result in 5% savings.

While increasing your deductible will lower your premium, it does come with some risks. Mainly, you having to pay the higher deductible amount if you make a claim. 

For Dean, the biggest savings he saw were from raising his collision and comprehensive deductible from $500 to $4,000. While this netted him a few hundred dollars in savings, it would cost him $3,500 more if he had to submit an auto insurance claim.

Having multiple claims could cause your premium to increase. We suggest speaking with an insurance broker to get advice on the best course of action if you need to make a claim.

Having a higher deductible might deter you from making a claim altogether. If you had an accident and the repairs were estimated to cost $1,000, but you had a $1,500 deductible, then it wouldn’t make financial sense to use your insurance.

Auto accidents are uncertain, so it’s important to talk with an insurance broker before choosing to increase your deductible. You never know what might happen.

As an insurance brokerage, we love helping people save on their coverage. But we also see firsthand what happens when they can’t afford higher deductibles after a claim.

We’ve had instances where clients can’t afford to pay their deductible, and so they can’t get their vehicles repaired after an accident, said Mitch Claims Specialist, Jesica Ryzynski. Or their car was fixed, and they need to pay the deductible to get it released, but they don’t have the money so they can’t pick it up.

So, they might of saved $100 for a year or two, but it ended up costing them more in the long run and created problems because they can’t afford that higher deductible.

This is one reason why it’s important to not raise your deductible to a dollar amount that’s higher than you can afford. Make sure it’s always set to a level you can comfortably manage in case of an accident.

Want to learn more about deductibles and find out if raising yours makes sense for you? Give us a call at 1-800-731-2228. Our team of insurance brokers are always happy to provide free advice and tips to help you get the most from your coverage.

Road conditions are dangerous as winter’s icy claws grips Ontario. It’s no surprise many drivers seem to lose their winter driving instincts when faced with snow-covered streets. 

According to the Workers’ Safety & Compensation Commission (WSCC), nearly 30% of all car accidents in Canada occur on snowy or icy roads. That’s more than 50,000 crashes each year attributed to winter precipitation. Having an Accident Waiver can help protect your driving record and safeguard your insurance premiums from skyrocketing even after the most unexpected winter accidents. Here’s all you need to know about winter driving, plus the importance of purchasing an Accident Waiver.

Before we delve into the why and what of Accident Waivers, let’s talk about winter driving. 

Snow and ice create slippery road conditions that increase stopping distances, while reduced daylight and frequent snow squalls can make it harder to see clearly. Braking, accelerating, and even changing lanes are all different in the winter than they are in other seasons. 

Cold temperatures may also impact vehicle performance, especially for older cars. These risks make preparation and caution essential for winter driving. 

Other drivers, especially those who may be inexperienced with driving in poor conditions, can also make icy roads even more hazardous. This tends to be more of an issue after the first snowfall of the season. 

While winter driving can be dangerous, you still need to get to work, school, and complete whatever daily errands you may have. An Accident Waiver can protect your premium from rising, preserve discounts, and maintain your driving record, but you should still do your part to prevent accidents.

You need to be extra mindful of your driving this time of year. Here are our top tips for operating your car safely in the wintertime: 

Preparing to drive in the winter happens even before you get in your vehicle. Here are some things to remember: 

Once you’ve started to drive, keep these tips in mind: 

An Accident Waiver is an optional endorsement you can purchase that, when added to your auto policy, essentially writes off your first at-fault accident as if it never happened.  

Let’s see just how much at-fault accidents will increase your premiums. Take our driver, Sam. Sam doesn’t have an Accident Waiver.

Sam is 30 years old, living in Burlington, Ontario, and drives a 2019 Volkswagen Beetle. Let’s quote Sam as having a clean record, and then quote him again with one at-fault accident, two at-fault accidents, and then three at-fault accidents to see how his premiums are impacted: 

*Companies with N/A wouldn’t quote for the driver after a certain level of risk.

Our driver’s premiums increased 94% on average after just one at-fault accident. His average premium was up 162% from his clean record premium after three at-fault accidents, and many traditional insurers wouldn’t cover him. With an Accident Waiver, his first accident wouldn’t increase his insurance premiums and save him from a staggering increase in costs.

A Tire Rack tire test revealed that one panic stop at 50km/h on a snow-packed road has a near 10-meter-difference when compared to normal conditions. Winter can make driving much riskier, and as good a driver as you are, you never know what could happen. It just takes one mistake! An Accident Waiver can provide you with the peace of mind you need.  

While an Accident Waiver can protect you from your rates going up for an at-fault accident, it won’t cover you for damages or any medical bills resulting from an accident you caused.

Your auto insurance can protect you against accidents that take place in the winter. How it responds is dependent on the type of coverage you have.

Accidents involving other vehicles are handled the same as any other time of year. If you have collision and comprehensive coverage you’ll be covered even for at-fault damages. They may also come into play if winter conditions contributed to the accident that you were in.

An accident may be considered at-fault even if you hit another driver after slipping on ice. This would fall under your collision coverage, if you have it. Even though the ice might have “caused” the accident, you’re responsible because it’s your obligation to account for weather conditions.

If another driver struck you and you were deemed not-at-fault, your direct compensation-property damage (DC-PD) coverage would pay for repairs and a rental car while yours is being fixed. Again, even if ice, slush, or poor visibility were a factor in why you were hit, the other driver wouldn’t be assigned any less fault. All drivers are expected to exercise caution when driving conditions aren’t ideal.

If your vehicle is damaged by snow or ice while parked, your insurance can help if you have optional comprehensive coverage. Comprehensive coverage insures your vehicle for repairs following non-collision damages, such as if a tree branch weighted down by snow snapped and fell onto your car. You would be covered for the cost of repairs, minus your deductible.  

We hope you stay safe this winter season! Claim occurrences increase after winter storms, so if you’re involved in a collision we recommend connecting your insurance broker and provider as soon as possible to get the process started. And, if you don’t already have it, we advise discussing the benefits of purchasing an Accident Waiver to protect your premiums from rising.

While winter driving can be unpredictable, it’s reassuring to know you’re prepared. Protect yourself with auto insurance through Mitch and find coverage that fits your needs and budget today. 

Since the pandemic, a huge hurdle for auto insurers has been lengthy repair times and inflated repair costs. According to the J.D. Power 2024 U.S. Auto Claims Satisfaction Study, average repair times have decreased in American garages, dropping from 23.9 to 18.9.

Repair times impact auto insurance rates in the U.S. and Canada equally. Yet, in Ontario, auto insurance prices are still increasing – up almost 20% from October 2022 to October 2024, according to the FSRA. Why is this happening?

The longer repair times are, the greater our insurance costs are impacted. After all, auto insurance prices are calculated based on many things. Included in this long list of factors is repair times.  

Repair times impact how much an autobody shop will charge. The longer they are, the more expensive they will cause a claim to be.  

When a driver’s car is out of commission for repairs, loss of use coverage may help cover the cost of a replacement vehicle. This coverage can exist as part of your direct compensation-property damage (DC-PD) coverage (protection for when you’re not at-fault in an accident) or as an optional add-on to help with the cost of a replacement vehicle if you are at-fault for an accident.  

The longer it takes to repair your car, the longer you’ll need a replacement. With DC-PD loss of use coverage, there’s no limit to how long you can use your rental – which costs your insurance company considerably more during lengthy repairs. Plus, with loss of use, you’re entitled to a rental that’s like the vehicle you have insured, so if you have a luxury truck and you get a similar replacement truck temporarily that can hike up the cost even more.  

There are two ways to get loss of use coverage. One is through DC-PD coverage. If you haven’t opted out of DC-PD coverage you’ll have loss of use for any not at-fault accidents while your vehicle is being repaired. With DC-PD, there’s no limit on your loss of use coverage.  

Another way you might have loss of use on your policy is through an endorsement called OPCF 20. It offers additional protection which will cover the costs of alternative transportation while your vehicle is out for repairs. Here are some things to know about loss of use coverage: 

Many people will opt out of OPCF 20 as a way to save money, or because they have multiple vehicles and don’t believe they’ll ever need a replacement. While situations like this are understandable, it can be difficult depending on how many people live at home, what the cars are needed for, and if a disaster happens – say like an ice storm – then all their vehicles could be out of commission for an extended length of time.  

Because adding OPCF 20 offers such considerable protection, it’s generally a highly recommended addition. You never know what might happen – and in fact, most insurance brokers recommend increasing your loss of use limits.  

“If you have the standard limit for loss of use of only $1,500, that likely won’t get you very far in a claim,” said Mitch Insurance claims specialist Jesica Ryzynski. “Especially if you’re driving a high-end vehicle and want to rent something similar while your car is being repaired. We often suggest going with a higher limit of $2,500 or $3,000 depending on the type of car you drive. In some instances, increasing your limit could cost as little as $30 a year and is well worth the extra money.” 

Longer repair times were initially considered to be a repercussion of COVID-19-imposed shutdowns, which caused delays from manufacturers. Because of this, shops couldn’t access parts as quickly, so vehicles would be waiting and repairs took longer to complete. 

Other factors include a shortage of mechanics and an increase in highly complicated vehicles, like EVs, which sometimes required special skills to fix. 

While the pandemic may have trickle-down impacts for years to come, we’re at least starting to see most things go back to normal. This includes auto parts coming in more regularly, which will help shorten repair times.  

Repair times are just one piece of the picture. Other factors, such as auto theft, inflation, weather disasters, and more, are also impacting auto insurance rates. 

Every company has a different way it rates risk, but all these external factors play a role in the cost of claims. And as weather gets more extreme and car theft escalates – well, shorter repair cycles may be more convenient, but they won’t zero out the impact everything else is having. 

“Many people don’t realize how extreme weather is effecting their insurance,” said Ryzynski. “Storms are increasing in frequency and intensity. This causes more extensive damage to cars, leading to higher insurance costs. 

“Storms in 2024 have caused over $8 billion in insured damage, making it Canada’s most expensive year ever for weather. Even if your vehicle wasn’t impacted, these events are still affecting your rates. Insurers need to recoup these costs, which means everyone’s premiums go up.”   

One way to manage your insurance costs is to shop the market. As rates rise, your current provider may not be giving you the best deal. Our team of brokers can help you find affordable insurance easier.  

The J.D. Power 2024 U.S. Auto Claims Satisfaction Study suggested that a focus on communication is crucial to customer satisfaction, such as through clear updates, timely responses, and accessible information. While the study focuses on America, the same applies to Canada as we enter unprecedented times for the insurance industry.  

With costs rising, it could be a considerable balancing act for insurance companies trying to retain loyalty while also managing their pool of payout funds. 

We’re happy to help. As an insurance brokerage, Mitch can give you coverage advice based on your situation and shop the market to get you the best deal. Give us a call and get a free auto insurance quote today.  

The title of this blog post alone is probably enough to make the average policyholder’s blood boil. When it comes to insurance, it’s easy to feel like you’ve been given the short end of the stick. 

Yes, auto insurance is expensive (especially nowadays). But it needs to be, and here’s why. 

Between October 2023 and October 2024, car insurance premiums Canada-wide have increased nearly 8.8%. Compare this to the increase last year, between October 2022 and October 2023, which was 4.6%. At the end of 2024, we’ve seen significant shifts in the state of car insurance rates in the country. 

This isn’t much of a surprise, given the disproportionate (and expensive) number of severe auto insurance claims this year, plus the increase in auto theft. Inflation has been less of a factor, but even so the general trend for auto insurance has been on the up and up, with no hint of relief in sight. All these variables combined have been impacting the cost of auto insurance.  

Rates are increasing due to a number of variables driving up costs and the average cost of auto insurance in Ontario is $2,006. That’s nearly a 20% increase from what it was in October, 2022.  

It’s not because insurance companies are trying to better their profits or are “greedy,” it’s because they have a duty to continue to pay claims—no matter how expensive they are. With claims costs rising, rates will continue to go up so that insurers can continue to afford claim payouts 

Auto insurance is an essential product, which is why it’s legally required for all drivers. Having the right insurance—as well as understanding what it covers—is invaluable to customers. Unfortunately, there’s so much misconception, and filing claims can be such a stressful process it’s no wonder why the topic of insurance is so wrought with anxiety and distrust.  

So long as cars continue to cost more to build and repair, auto theft is still rampant, and fraud still exists, insurance rates will continue to rise. For many, this could be a significant setback for their financial goals. It’s just one element of car ownership that’s becoming increasingly worse. 

What’s the solution, then? We all want affordable insurance. There’s no big change that can be made to the system to resolve everything, but perhaps small, simple adjustments with time will slowly begin to reverse the issue. 

Ontario’s current system for insurance carriers to request approval for changes to auto products obligates the FSRA to respond within a set period. If a response is not received within the 25-window, the filing is approved.  

 In January 2024, a change was made to auto insurance in Ontario to give drivers more choice in customizing their coverage. OPCF 49 allowed drivers to drop direct compensation-property damage (DCPD) from their policy, meaning they would not have coverage even when they are not-at-fault for an accident.  

This approach makes drivers more vulnerable by placing greater responsibility on them rather than the insurance companies. However, customization options like these could be a step forward, even if they aren’t typically recommended for the average policyholder. 

Insurance may “need” to be expensive, but does yours have to break the bank? Not necessarily. There are ways you can get cheaper auto insurance for yourself, like being a safe driver and having a clean driving record, opting into insurer telematics programs, bundling your policies through the same insurer, etc. It won’t change the system, but it could put more money back in your pocket. 

And of course, a broker’s job is to help you find the best deal. As insurance experts, brokers collaborate with you to secure affordable car insurance, even if external factors like a poor driving record, inexperience, or previous cancellations might impact your rates. We’re here to help you find a suitable solution for your needs and budget. 

Dropping coverage to make your insurance more affordable isn’t generally recommended either, as it could end up costing you more in the long run. There are few scenarios where dropping certain coverages may make sense, and we recommend speaking with a broker before making any big steps.  

The future is uncertain, but as insurance technology improves, we might see changes. Better underwriting could lead to more stable rates and potentially cheaper policies. 

Telematics could improve or become a requirement among insurers, and predictive analytics could improve, ensuring each driver is more accurately assigned rates based on their risk profile. 

Could this mean rates will decrease? Well, maybe. But at the same time, claims’ costs are one of the biggest drivers in rate increases, and unless cars start becoming less expensive to repair, it’s unlikely that those will decrease. 

Have additional questions regarding auto insurance, rates, or another topic? Give us a call.  

The sticker price for a new vehicle is only one part of the car ownership story. There are other things to consider like fuel, maintenance, and insurance costs too. 

It might surprise you to know that cars with identical price tags can come with wildly different insurance premiums. To help you make a more informed decision when purchasing a vehicle, we’ve created a comprehensive comparison of insurance rates for cars with similar value.

The cost of your car and its present market value (so what it would sell for if you sold it as it was today, depreciation and all) have a considerable bearing on your insurance rates. This is because in the event of a write-off (also called a total loss), where your vehicle is deemed unrepairable, you will receive a settlement for the actual cash value of that vehicle. The more the car is worth, the larger the settlement.  

But the value of your car is only one piece of a much bigger pie when it comes to your insurance. Paying close attention to all the factors that play a role could save you hundreds on your premiums. Other factors that insurers take into consideration with different models of vehicles are: 

Insurance costs are also influenced by the frequency of claims for your car and their severity. So regardless of the value of two vehicles being identical, if one has a higher chance of being stolen and its parts are costlier to replace, then it’ll be rated higher than the other vehicle.  

This is why two vehicles of similar or even identical value can still have very different insurance premiums – and why it helps to enlist a broker while you’re researching cars in the initial buying phase. 

To show the difference in insurance premiums for vehicles of similar value, we’ve done a comparison. 

We ran quotes for different vehicle brands and models with similar prices.  We’ve also broken our vehicles down into three categories: sedans, SUVs, and electric vehicles (EVs).  

Let’s start with our sedans. We used the following vehicles: 

These options are very close in value, but they may vary in things like safety features, brand reliability, and repair costs. Let’s take a look at their insurance prices when we quote rates for them from several of our leading insurance carriers. 

For our SUV comparisons, we used the following vehicles: 

Like our sedans, these SUVs are close in price and are relatively popular choices but have distinct features that might influence their insurance costs. 

Finally, for the comparisons for our EVs, we decided to use the following: 

These vehicles, while all within the same price range, have different performance, safety, and tech features, which could contribute to a difference in insurance rates. See below: 

*Note: For all of the rates above, we used the same driver profile (40-year-old male, married and living in Whitby, licensed since 16 with a clean driving record), and quoted with the same levels of coverage ($1 million third-party liability, all perils coverage, etc.). This was to ensure the only variable in our comparisons was the model and make of the vehicle being quoted.  

In our quotes, we found that the majority of vehicles with the slightly higher purchase price sometimes cost more to insure than the other vehicles. However, this wasn’t always the case. Let’s break it down.

For the sedans, the Mazda3 and Hyundai Sonata were only $2,000 apart in purchase price, with the Mazda3 being more expensive. However, the Mazda3 cost several hundred dollars less to insure. The Honda Accord was the most expensive on our list to insure, with the next runner up costing $172 less to insure, even though it had a very similar value to our other sedans.

For the SUVs, the Honda CR-V topped our list and had the highest MSRP by a few hundred. However, it’s worth noting that the earlier models of the Honda CR-V have made the list of Ontario’s most stolen vehicles. Some insurers may be ranking this vehicle as high-theft, which could be influencing its higher average premium.

And for our EVs, the highest MSRP came from the Hyundai Kona Electric, but it cost less to insure than the lowest value EV on our list, the Nissan Leaf. This could be for any number of reasons. Part availability, safety ratings, costs to repair…and so on.

And keep in mind that the same make/model of vehicle can have different trim and customization options, which can impact your insurance rate. To keep things simple, we picked options that kept all our comparison vehicles within $2,000 – $5,000 of each other’s purchase price. 

What this boils down to is that, yes, typically a $100,000 vehicle will cost more to insure than one purchased for $25,000, but there’s a lot that goes into rating a car. So, if you have a budget of say $40,000, and you’re looking at SUVs, it’s worth getting quotes for all the vehicles that you’re considering buying.  

Making big purchases can feel overwhelming, especially if your budget is tight – or, if like everyone nowadays, you simply want to avoid unnecessary expenses!  

Insurance costs in mind, the tips we’re sharing below take into account insurance and general vehicle-budgeting tips. In an age where everything seems expensive, it helps to make some unavoidable expenses a little less heavy. 

As you can see from the examples above, insurance costs can vary tremendously by vehicle – even ones with the same approximate value. Get quotes for multiple vehicles to see which offers the best rates. You can do this with a broker. 

Newer cars can depreciate by up to 20% their first year. You may want to opt for a vehicle that’s one to three years old to enjoy modern features but benefit from the dip in upfront cost. 

Certain trim, customization, or premium add-ons can increase your vehicle price fast. If you want to keep your costs lower, then stick to the essentials.  

Routine maintenance can add up, so it’s not a bad idea to consider budgeting for things like tire rotations, oil changes, and brake replacements. For easier tasks, such as tire changes (swapping from winters to summers or vice versa) consider doing these things yourself to avoid the added expense. 

Theft is a huge issue in Ontario, especially with newer vehicles. Consider investing in anti-theft devices, like Tag, wheel-locks, fob bags, and more. Tag is heralded as the best anti-theft device by many insurers for its ability to recover stolen vehicles.  

Our team of brokers can help you get insurance quotes for multiple vehicles to assess which will provide the best deal. Saving you money is one of the things that makes us so lovable. Give us a call at Mitch Insurance and we’ll get you started with a quote today.

Équité Association, a national, independent organization aimed at reducing and preventing insurance fraud and crime, has released its annual list of the most stolen vehicles in Ontario and Canada.

Auto theft has skyrocketed across Canada over the past few years. In 2022, insurers paid over $1 billion in claims for stolen cars nationally. At the time, it was the largest amount the insurance industry had ever seen for vehicle theft. In 2023, Ontario alone surpassed $1 billion in auto theft claims – a 524% increase from 2018.

The surge in auto theft is impacting insurance rates for all drivers, and people who own vehicles on the most stolen list will likely be faced with higher premiums for their coverage – in some instances, up to 277% more than the provincial average.

Burying your head in the sand is going to cost you money, said Mitch Insurance CEO, Adam Mitchell. People often tend to ignore their insurance but not paying attention to what’s happening and shopping the entire marketplace for your coverage – especially if your vehicle appears on the most stolen list – could mean paying significantly more in the years ahead.

Here’s how much it costs to insure Ontario’s most stolen vehicles.

Équité Association’s Top 10 Most Stolen Vehicles ranking comes out every fall and highlights the most stolen vehicles from the previous year. Separate lists are released for the most stolen vehicles by number of thefts and by frequency.

Four vehicles appear on both of Ontario’s lists. Range Rovers, for instance, are ranked fifth in number of thefts but are first in theft frequency with one in 14 being stolen in the province.

If your car’s on the most stolen list, your insurer will likely classify it as a high risk for theft, said Mitchell. Every insurance company also has their own unique list of high-theft vehicles based on their claims data. Even if your car doesn’t appear on Équité Association’s ranking, your insurance carrier might still flag it as a high-theft risk.

We ran insurance quotes for all the vehicles on Ontario’s most stolen list by number of thefts using the same hypothetical driver profile (Table 1).  

Some insurers place a high-theft surcharge on the most stolen cars. This varies by insurance company and can range from $500 – $1,500. The surcharge can often be removed if the vehicle has an approved anti-theft device or recovery system installed. Where applicable, the high-theft surcharge was included in the rates below.  

The rates were than compared against the average auto insurance premium in Ontario. According to the Financial Services Regulatory Authority of Ontario (FSRA), the province’s average premium was $1,927 as of June 2024.

Looking at the rates above for our hypothetical driver, all of the vehicles on Ontario’s most stolen list have higher insurance price tags than the provincial average.  

In some instances, the increase is a few hundred dollars. For example, a 2019 Honda Civic would cost our driver an extra $495 or 26% more than the provincial average. But for other vehicles coverage could potentially cost thousands of dollars more. 

We also ran insurance quotes for the most frequently stolen vehicles using the same hypothetical driver profile* and once again compared them against FSRA’s most recent average premium for Ontario. Where applicable, the high-theft surcharge was included in the rates below.

When it comes to the most frequently stolen vehicles, all the cars would cost more than the provincial average for our hypothetical driver to insure.  

The smallest premium increase is for the 2023 Jeep Gladiator, which would cost our driver $896 more than the provincial average. However, the price tag for insuring the 2022 Land Rover Range Rover Series would be $5,346 more than the provincial average.  

To take things one step further, we ran quotes with five of our most popular insurers using the same hypothetical driver profile* to see how insurance prices for Ontario’s most stolen sedan, SUV and truck compared against similar vehicles that aren’t classified as high-theft risks. Where applicable, the high-theft surcharge was included in the rates below.

The smallest difference between the average prices for the sedans was $64, but the SUVs was $3,088 and the trucks was $1,243. Oftentimes, when compared to similar vehicles that aren’t considered high-theft risks, Ontario’s most stolen vehicles could cost hundreds – or even thousands – more annually to insure.

Even if you personally haven’t had a vehicle stolen, auto theft affects everyone – and drivers are seeing higher car insurance rates because of it.  

When you pay for your auto insurance, your premiums go towards a shared pool of funds used to cover future claims. If more claims are made or payouts become larger, then the pool needs to grow. To facilitate this, insurance companies raise premiums for everyone, not just those who have been impacted.

This year has seen numerous measures being taken to combat Canada’s auto theft crisis at the federal, provincial and municipal levels. These actions seem to be working with auto theft dropping 17% nationally and 14% in Ontario in the first half of 2024.  

And while it’s good news that auto theft is finally beginning to decrease, insurance rates will take time to respond. 

“Insurance pricing is based on past events and trends rather than future predictions,” said Mitchell. “A lot of cars were stolen causing a sharp increase in theft claims. Insurers had to create new pricing models in response and then get approval from the provincial regulator to adjust rates. It’s a lengthy process and because of this, a good month or quarter doesn’t instantly tip the scales.”

There are many factors that influence how much your auto coverage costs and insurance companies will all have different rates depending on your car, driving record, where you live, your age, gender and more.

One of our biggest recommendations here at Mitch is to always shop the entire marketplace to ensure you’re getting the coverage that’s right for you at the best possible price. This is especially important if you drive a high-theft vehicle and can lead to significant savings on your policy.

The best way to do this is with an insurance broker. They can search and compare coverages from different carriers, provide you with multiple quotes and offer recommendations on which policy makes the most sense for you.

“Choosing a broker with a large network of insurance companies is going to give you more options when it comes to your coverage,” said Mitchell. “If a brokerage only works with a few carriers, you’re limited to those offerings. Brokerages that have access to a wider range of insurers are going to have better odds of finding you more affordable coverage – regardless of what you drive.”

Mitch works with all of Canada’s top insurance providers and our team of brokers is always happy to provide insurance quotes and expert advice to help you make the best decision about your coverage.

Considering buying a new vehicle and want to know how much insurance costs will be before purchasing it? We can get you quotes for the cars you’re considering so you can avoid insurance sticker shock after the fact. Give us a call at 1-800-731-2228 today.  

If your household has multiple vehicles but they’re all insured separately through different providers, you could be missing out on a tremendous savings opportunity. 

Multi-car insurance is how it sounds: it’s getting insurance for multiple cars through a single policy. Since there are about 1.5 cars per household in Canada, many households could benefit from multi-car insurance. Let’s explore the benefits and drawbacks of this option, plus examine some scenarios where people may get the most benefit from multi-car insurance. 

Multi-car insurance, multiple-car insurance, or even multi-vehicle insurance is getting insurance for more than one vehicle through the same provider. If you own two or more vehicles with the same garaging address, it can help you save money as insurance providers typically discount policies with multiple vehicles. Some insurers will discount between 5%-15%.  

Insurers will discount customers with multiple vehicles or assets on a single policy to incentivize loyalty. It’s a way to encourage return business, which then benefits both the provider and the policyholder. It can also be more convenient to have all your insurance in one place. 

There are two main benefits of insuring your family or household’s vehicles all through one policy: saving money and convenience. With the vast majority of insurers, you can expect to save up to 20% on your auto insurance overall by bundling your vehicles through a single policy. You can even double that savings by bundling your home, condo or renters policy in with everything else. 

Multi-vehicle policies are also more convenient. You only have a single policy renewal date to keep in mind, the paperwork is easier, and in the event of an unexpected storm or disaster you only have one insurance company to deal with for claims. It’s easy to modify coverage for all of your vehicles if need be, as you only have one place to go to do it! 

Yes, depending on the provider. If the insurance provider you’re with covers non-standard vehicles like RVs and ATVs, they may permit you to include your assets in a multi-vehicle policy. RVs and ATVs can sometimes be a tad trickier to insure than regular vehicles, as they may only be used part of the year, but insuring them through a multi-vehicle policy can help you cut down on costs. 

Boats cannot be added to an auto policy, however. They either need to have their own policy or would be added to a property policy.

Some multi-vehicle policies will permit vehicles that have different garaging addresses, like if you have an adult child who’s away attending university and brought a car with them. Rules vary by provider, so be sure to ask a broker to see what’s allowed.

You must meet a few requirements to combine your partner or spouse’s auto insurance policies into one. Here is what is required of you before you may qualify for a multi-vehicle policy: 

It’s worth noting as well that some companies will still offer multi-vehicle discounts even if your vehicles aren’t on the same policy but are insured with the same company. This could count for parents and children in the same household but with their own policies. 

In the event an accident results in litigation, the named insured will be sued along with the driver. So, if a child is driving and gets sued but the vehicle is in parents’ name, they also get sued. This is just something to be mindful of when insuring through the same policy. 

There are specific circumstances where, despite the savings opportunities and convenience of having all your insurance in a single location, it makes more sense to insure your vehicles separately. 

Here are some situations where it may make sense to insure vehicles separately: 

Insuring multiple vehicles, including special types (like RVs), through one policy will usually save you money, but only so long as that insurer covers them. Depending on how much you’d save by finding an insurer who would cover both, you could be better off with separate policies (sometimes the loyalty discount with your existing insurers would exceed whatever you’d receive by bundling). 

Some insurance companies won’t offer as much a bundling discount as others, in which case it could serve you better to insure your vehicles separately. Sometimes changing insurers will diminish any loyalty discount you would have received by staying with one insurer consistently, which can outweigh the benefits of what you’d receive by bundling.

If you have any drivers or vehicles in your household that fall under a “high-risk” category, it could make sense to insure your vehicles separately. One, not all insurers will cover high-risk vehicles, and two, you might receive more significant savings by insuring the high-risk driver/vehicle through a special high-risk insurer and the other vehicle(s) through a standard carrier.

If one or more of your vehicles are being used for commercial reasons and not personal, it could be more beneficial to insure them through a separate policy or even a commercial policy. Conditions for necessitating a commercial policy can vary though, so be sure to ask a broker.

Interested in multi-car insurance, or just bundling discounts in general? Mitch is happy to discuss with you what the benefits are, plus give you some advice on how to arrange your policies so you’re saving the most money possible.

A driver’s age is one of the biggest rating criteria that insurance companies look at. Younger drivers typically pay more, and older drivers (up until a certain point) will pay less. When you’re in your teens, your prices are usually the highest and may start to decline at around 25.  

But sometimes the difference isn’t as great as you might think. While most insurance providers will decrease rates as you get older, there are other factors at play—claims made, a change in address, and so much more. Let’s explore.  

Drivers under the age of 25 are statistically more likely to be involved in a collision or make a claim. However, 25 isn’t a “magic age”. Lower rates aren’t guaranteed for every driver, especially when you take into consideration everything else that could happen in the time it takes you to turn 25. 

That said, on average, 25-year-olds pay less for car insurance than younger drivers. You’ll see the most savings at 25 if you’ve remained claims-free, have had your license for as long as possible, and have not received any tickets from law enforcement. As long as all this is true, you’re likely to see much lower insurance rates at 25 than you would at age 17, 18, or even 20. 

To compare the difference, we ran auto insurance quotes for an 18-year-old driver and a 25-year-old driver. We elected to keep the coverage limits, marriage status, commute distance, and driving record of these profiles the same and then quoted the same drivers twice—one for when they’re 18 and have their full license, then again for when that driver is 25. We ran these quotes with the individual being listed as the principal driver; note that there will generally be more savings with a teenager being added as an occasional driver to a parents’ policy. 

We ran quotes with eight different insurance carriers and have listed the lowest, highest and average prices below.   

We used the following fictious drivers for the quotes we ran: 

*Note that the averages we derived for these drivers were from finding the median between 8 of our most popular carriers.

The examples above are all assuming that the individual’s circumstances haven’t changed. If everything were to stay the same, then yes—generally you could assume your rates would decrease substantially as you get older. But these quotes were all pulled at the same time. In nine years, a lot can change. Inflation, repair costs, and not to mention in this time you might have made a claim. Or two. Or three.  

Take Mary Anne as an example. She had the lowest difference in cost between 18-years-old and 25. Let’s take her profile at 25 and add on an at-fault claim and a speeding ticket. 

Now, her lowest rate quoted from the companies we used is $4,460 and her highest is $7,668, and her average rate comes out to $6,428. That’s only a $326 decrease from the rates she had at 18-years-old, and this doesn’t consider any industry shifts, inflation, etc., because—again—these quotes were all pulled at the same time. Age is just one of dozens of factors that insurers will consider. 

Turning 25 doesn’t automatically lower your rates. There are many reasons why your rates may not have decreased including having claims, tickets, a change in address, etc. Something that’s also beginning to emerge is that drivers between 25 and 35 are causing more accidents than people under the age of 25.  

According to Transport Canada’s National Collision Database, drivers between the ages of 25-34 are actually involved in the most reported accidents in the country. So, just because you’ve turned 25 doesn’t mean you’re on the positive side of the statistics. This could also be because there are more drivers in that age category; some young drivers may not have gotten their licenses yet or aren’t driving because they can’t afford a car. 

Rates are rising all over the country, too. Increases are being caused by multiple reasons and could potentially offset the decrease you might receive on turning 25 (if any, depending on your history). Realistically speaking, a driver who has been licensed since 16, with a clean record, could end up seeing their rates remain the same or even increase due to factors out of their control. This includes: 

And of course, there’s reasons why your rates may have stayed the same (or will still be expensive) at the age of 25 because of something else in your profile. This includes: 

These factors alone could cause you to pay more for your auto insurance. If you had a clean record at 21, lived in a safe neighbourhood, and had a modest level of coverage, you could have actually paid less than when you were 25, living in downtown Toronto with a few at-fault accidents on your record. 

All this is to say that age is one factor insurance companies look at, but it’s not the defining factor. Yes, it plays a role, but it won’t exactly override a bad driving history, inexperience, or traffic violations on your record. Different insurance companies will also always give you different quotes (even with the same information), so we recommend shopping around no matter what age you are.  

Because each insurance company has different statistics and claim data, they may weigh factors differently. One insurer may put a lot of weight on the gender of the driver, where another provider might focus on driving experience more intensely. This is one of the reasons why different insurance companies will give you different quotes, even with the same information, and it’s also why we always recommend shopping around with the help of a Mitch Insurance broker. There could always be a better deal, and what’s the best car insurance company for your friends or family may not be for you. The team at Mitch has the resources necessary to help you find the best bang for your buck. Plus, we’ll do it on your behalf, so you don’t even have to lift a finger.  

No matter what age you are, affordable insurance is always possible with Mitch. Our job is to find you a great deal regardless of your circumstances. We work with dozens of carriers all over the country, so we’re confident in our abilities to find you the right coverage at the best price possible. All you need to do is give us a call.