10 Best Car Insurance Companies in Canada in 2024
- Rental cars included
- Over 150,000 satisfied users
- Immediate connection with multiple insurers
- More than 5 additional coverages
- Renewal discounts available
- Legal fees covered
- Get a personalized car insurance premium with my Drive™
- No premium increase for two at-fault losses in 5 years
- 2,000 broker relationships across Canada
- Base rate plus distance-driven payments
- Large amount of discounts available
- Additional theft or vandalism coverage
- Bundle Car and Home insurances to get discounts
- Uninsured automobile coverage included
- Get a direct compensation
Looking for top car insurance companies in Canada that provide excellent coverage without breaking the bank? We've done the research for you!
This guide shares the list of the best car insurance companies in 2024 based on their history, customer service, rates, and coverage options.
You can also use our free tool to compare car insurance quotes online from top providers and secure your policy today.
Car Insurance Companies Canada: Top 10 for 2024
- Economical Car Insurance: Strong financial stability
- Intact Insurance: Several rewards programs
- CAA: Discounts for members and loyalty rewards
- TD Insurance: TD Auto Center Advantage
- Onlia Car Insurance: Super fast mobile app for car insurance
- Pafco: For high-risk drivers
- Aviva: Discounts for everyone including students
- Desjardins: Bilingual customer support
- Co-operators: Local offices for better customer service
- Allstate: Protection with a friendly face (and maybe Mayhem)
1. Economical Car Insurance
Economical Insurance is a well-established Canadian property and casualty insurance company founded in 1871. It offers a variety of car insurance options for individuals and families.
What types of car insurance does Economical Insurance offer?
Economical Insurance, one of the best Canadian car insurance companies, offers a full range of car insurance coverage, including:
Mandatory coverage:
- Third-party liability: Covers property damage and bodily injury to others caused by your accident.
- Accident benefits: Provides medical and rehabilitation coverage for you and your passengers in case of an accident.
Optional coverage:
- Collision and comprehensive: Covers repairs or replacement of your car for damages caused by collision, theft, fire, vandalism and weather events.
- Specified perils: Covers your car for specific perils named in the policy, such as fire, theft or hail damage.
- Replacement cost coverage: Replace your car with a new one of the same model year in case of a total loss.
- Additional living expenses: Covers extra living expenses if your car is damaged and unusable.
Pros and cons of Economical Insurance
Pros
- Strong financial stability
- Variety of coverage options
- Competitive rates
- 24/7 customer support
Cons
- Not always the cheapest, particularly for high-risk drivers
- Not available in all areas of Canada
What is the cost of Economical car insurance?
The cost of car insurance with Economical Insurance will vary depending on your profile, driving record, location and the type of coverage you choose.
To give you a better idea, here are some specific quotes:
| Criteria | Customer Category | Annually | Monthly |
|---|---|---|---|
| Overall cost | All drivers | $ 3,179 | $ 265 |
| Gender and status | Male | $ 3,255 | $ 271 |
| Female | $ 3,048 | $ 254 | |
| Married | $ 3,380 | $ 282 | |
| Single | $ 3,139 | $ 262 | |
| Age | Under 25 | $ 3,642 | $ 304 |
| 26-35 | $ 3,259 | $ 272 | |
| 36-49 | $ 2,994 | $ 250 | |
| 50-64 | $ 2,287 | $ 191 | |
| 65 and over | $ 2,042 | $ 170 | |
| Driving record | 1 ticket | $ 3,029 | $ 252 |
| 2 tickets | $ 3,284 | $ 274 | |
| 1 accident | $ 3,182 | $ 265 | |
| 1 cancellation | $ 2,899 | $ 242 | |
| 1 suspension | $ 2,650 | $ 221 | |
| Location | Toronto | $ 3,316 | $ 276 |
| Ottawa | $ 2,609 | $ 217 | |
| Brampton | $ 3,746 | $ 312 | |
| Hamilton | $ 3,170 | $ 264 | |
| Mississauga | $ 3,851 | $ 321 | |
| London | $ 3,430 | $ 286 | |
| Kitchener | $ 3,214 | $ 268 |
You can get personalized quotes for Economical Car Insurance right here for free.
2. Intact Car Insurance
Intact is one of Canada's largest home, auto and business insurance providers. With a history of over 200 years, Intact Insurance has earned a reputation for financial strength, reliability and customer service excellence.
What types of car insurance does Intact Insurance offer?
Intact Insurance offers a comprehensive range of car insurance products designed to meet the diverse needs of Canadian drivers, securing it a place among the top Canadian car insurance companies. Its policies provide coverage for damages to your vehicle, liability protection and optional add-ons for enhanced coverage, including:
- Collision and comprehensive
- Specified perils
- Loss of use (rental car coverage)
- Waiver of depreciation (coverage for replacing your car with a new one of the same model year in case of a total loss)
- Limited waiver of depreciation
- Accident forgiveness
- Increased limits for liability and accident benefits
- Additional living expenses
Good to know
Intact Insurance also offers discounts for safe driving, bundling policies, and loyalty programs to help customers save on their premiums.
Pros and cons of Intact car insurance
The good stuff
- Strong financial stability
- A long history of serving Canadian customers
- Comprehensive coverage options to meet the diverse needs of drivers
- Discounts and rewards programs
The not-so-perfect stuff
- Expensive for drivers with less favourable driving records
- Limited availability in certain regions of Canada
What is the cost of Intact car insurance?
Intact's car insurance policies are tailored to suit your individual needs, ensuring that you receive coverage that aligns with your specific requirements. The pricing you receive is determined by the level of coverage and additional features you choose.
For instance, let's consider a scenario where a 28-year-old woman owns a 2022 BMW 330e 4DR and provides basic information for her insurance needs. In this case:
For example
- She would be charged a standard amount of $336.83 (459.05 CAD) with a 1.3% interest on monthly payments.
- This simplified approach eliminates the need for selecting from multiple options; instead, customers input their specific needs, allowing them to know precisely how much they need to pay.
Here are some more examples to give you a better idea:
| Age | Gender | Car Model | Insurance Type | Amount |
|---|---|---|---|---|
| 28-year-old | Female | 2022 BMW 330e 4DR | Car Insurance | 459.05 CAD |
| 50-year-old | Female | 2005 HYUNDAIACCENT 5 5DR | Car Insurance | 189.98 CAD |
| 35-year-old | Male | 2019 Chevrolet Blazer 4DR 2WD[Home: 2,200 sq ft or 204.39 sq.m] | Home and Car Insurance | 714.07 CAD |
You can get personalized quotes for Intact Car Insurance right here for free.
3. CAA Car Insurance
CAA is a well-known provider of roadside assistance, travel, insurance and advocacy services for Canadian motorists. With a long history of serving members, CAA offers a range of insurance products, including car insurance, designed to meet the needs of Canadian drivers. All of it makes it a perfect contender for one of the top car insurance companies in Canada.
What types of car insurance policies does CAA offer?
CAA offers various car insurance policies to cater to the diverse needs of Canadian drivers:
- Basic coverage: Essential protection for damages to your vehicle and liability claims.
- Comprehensive coverage: Extensive protection against a wide range of risks, including theft, vandalism and natural disasters.
- Collision coverage: Coverage for damages to your vehicle resulting from collisions with other vehicles or objects.
- Third-party liability: Protection against claims for property damage or bodily injury caused to third parties.
- Optional add-ons: Additional coverage options such as roadside assistance, rental car reimbursement and accident forgiveness.
How do car insurance companies determine car value?
Car insurance companies consider factors like your car's model, year, mileage, condition, and local market value to determine its insured declared value (IDV) - the amount they'd reimburse you in case of a total loss.
Pros and cons of CAA car insurance
Why CAA rocks
- Lots of bundling options to save money
- Discounts for safe driving
- 24/7 roadside assistance
Things to consider
- Might not be the absolute cheapest option, especially for younger drivers
- CAA car insurance is often bundled with their membership, so make sure you use the membership perks to get the most value
How much does CAA car insurance cost?
Again, the cost will depend on a lot of factors, but here is a sample quote based on average rates for CAA car insurance in Ontario:
| Category | Details |
|---|---|
| Driver | A 30-year-old male with a clean driving record |
| Experience | 10 years of driving experience |
| Vehicle | 2020 Honda Civic sedan |
| Parking spot | Parked in a garage overnight |
| Coverage | Standard liability, collision and comprehensive coverage |
| Deductible | $500 deductible |
| Annual Mileage | 12,000 km |
| Estimated Premium | $1,500 |
You can get personalized quotes for CAA Car Insurance right here for free.
4. TD Car Insurance
TD Insurance is a subsidiary of the Toronto-Dominion Bank, one of Canada's largest financial institutions. One of the top car insurance companies, TD offers a wide range of insurance products, including car insurance, to meet the diverse needs of Canadian customers. With a focus on customer service and innovation, TD Insurance provides comprehensive coverage options and convenient digital tools for policy management.
What's in TD's car insurance toolbox?
- The essentials: Third-party liability and accident benefits are covered, making sure you're legal and protected in case of mishaps.
- Optional coverage: Want extra protection for your car? Shield it with collision and comprehensive coverage, guarding against everything from fender benders to disappearing acts (theft, that is).
Did we mention the TD Auto Center Advantage? TD Insurance boasts a network of Auto Centres where you can get your car assessed, repaired by certified technicians and even snag a rental car — all in one place! Talk about convenience.
Pros and cons of TD car insurance
Why TD might be your perfect match
- Discounts for things like safe driving, being a snowbird, bundling your home and auto insurance and having certain safety features in your car
- 24/7 customer support, so you're never on your own
- One-stop-shop Auto Centres to get your car back on the road after a mishap
Things to consider
- Might not be the absolute most budget-friendly option, especially for high-risk drivers
- Getting a quote online might be limited, so you might need to call a broker or visit a branch for a personalized estimate
What’s the cost of TD car insurance?
Here are the average car insurance premiums as per province — TD’s car insurance cost will be similar:
| Province | Average Annual Premium |
|---|---|
| Quebec | $717 |
| Prince Edward Island | $861 |
| New Brunswick | $867 |
| Nova Scotia | $891 |
| Manitoba | $1,140 |
| Saskatchewan | $1,235 |
| Newfoundland & Labrador | $1,168 |
| Alberta | $1,316 |
| Ontario | $1,528 |
| British Columbia | $1,832 |
You can get personalized quotes for TD Car Insurance right here for free.
5. Onlia Car Insurance
Onlia Insurance isn't your average insurance company. It’s the tech-savvy sidekick for your car, ditching paperwork and saying hello to convenience. Very few companies offer this kind of service, which makes it one of the best car insurance companies in Canada.
You can get standard coverage, comprehensive coverage, collision coverage, third-party liability and lots of optional add-ons. Here’s what else to expect:
- All about the app: Manage your policy, make payments and even file claims — all from the comfort of their mobile app. Talk about ditching the paper chase!
- Drive safe, get rewarded: Onlia rewards safe drivers with cashback each month. Buckle up, drive smart and watch those savings grow.
- Ease of customization: Design a policy that perfectly fits your needs with Onlia's flexible coverage options.
How long do car insurance companies keep records?
Car insurance companies typically keep your driving record information for several years, depending on provincial regulations. It can impact your rates for years to come.
Pros and cons of Onlia car insurance
Pros
- Speed demon of convenience — getting a quote or managing your policy takes minutes with its app
- Competitive rates
- All the info in your pocket (always)
Cons
- A new player; doesn’t have the brand recognition of some established companies
How much does Onlia car insurance cost?
Here’s a sample quote to give you an idea of the cost:
| Vehicle | Purchase Date | Premium per Month | Premium per Year |
|---|---|---|---|
| 2018 TOYOTA COROLLA CE 4DR | 2022-07-01 | $490.11 | $5,770.65 |
| 2021 ACURA ILX 4DR | 2022-07-01 | $442.99 | $5,215.85 |
| 2021 HONDA CR-V TOURING 4DR AWD | 2023-07-01 | $708.97 | $8,347.55 |
6. Pafco Car Insurance
Pafco Insurance is a specialized provider of non-standard car insurance solutions in Canada. Catering to drivers who may have difficulty obtaining coverage from traditional insurers due to factors such as driving history or vehicle type, Pafco offers tailored insurance solutions to meet their unique needs.
What types of car insurance policies does Pafco Insurance offer?
If other Canadian car insurance companies have turned you down, Pafco might be the comeback story you've been waiting for. It offers:
- Non-standard coverage: Tailored insurance solutions for drivers who may have challenges obtaining coverage from traditional insurers.
- Basic coverage: Essential protection for damages to your vehicle and liability claims.
- Optional add-ons: Additional coverage options such as roadside assistance, rental car reimbursement and accident forgiveness.
Pros and cons of Pafco car insurance
Why Pafco might be your second chance hero
- Offers coverage when others won't
- Despite catering to high-risk drivers, Pafco strives to offer competitive rates
- Flexible payment plans to help you manage your premiums
Things to consider
- Might not offer the same extensive range of coverage options as some other companies
- Availability might be limited depending on your location and driving record
How much does Pafco car insurance cost?
Here’s what a 30-year-old (male) can expect to pay for different kinds of Pafco coverages:
| Insurance Coverage | Price Range per Month |
|---|---|
| Civil liability insurance | $55 - $65 |
| Back-to-back insurance | $70 - $85 |
| Collision or rollover insurance | $60 - $70 |
| Non-collision or rollover insurance | $60 - $70 |
You can get personalized quotes for PAFCO Car Insurance right here for free.
7. Aviva Car Insurance
Aviva is a global insurance giant with a presence in over 30 countries, bringing their big-world experience to Canadian roads. Whether you're a new driver, a seasoned pro or someone with a unique insurance situation, Aviva might have the coverage you need. We mean, it’s one of the best car insurance companies for no reason.
What does Aviva’s car insurance offer?
- Mandatory coverage: Third-party liability and accident benefits are a given, keeping you legal and protected in case of mishaps.
- Standard shields: Want extra protection for your car? Guard it with collision and comprehensive coverage, covering everything from fender benders to disappearing acts (theft, that is).
Good to know
Aviva also offers unique coverage options like roadside assistance and GAP insurance, which can help bridge the gap between your car's value and what your insurance pays out in case of a total loss.
Pros and cons of Aviva car insurance
Why Aviva could be your perfect co-pilot
- Wide range of coverage options, allowing you to tailor a policy that perfectly fits your needs and budget
- Discount for safe driving habits, bundling your home and auto insurance and even being a student
- A dedicated 24/7 support team to assist you whenever you need it
Things to consider
- With so many coverage choices, it might take some time to find the perfect fit
- While competitive, Aviva might not be the absolute most budget-friendly option, especially for young drivers (even after discounts)
How much does Aviva car insurance cost?
| Customer | Location | Vehicle | Cost |
|---|---|---|---|
| Male, 43 years old | Alberta | 2016 DODGE/RAM GRAND CARAVAN SE | $271/mth $3,253/yr |
| Female, 26 years old | Nova Scotia | 2014 JEEP CHEROKEE NORTH 4DR 2WD | $223/mth $2,679/yr |
| Male, 58 years old | Alberta | 2020 HONDA CIVIC TOURING 4DR | $113/mth $1,359/yr |
You can get personalized quotes for Aviva Car Insurance right here for free.
8. Desjardins Car Insurance
Desjardins Insurance is a Canadian powerhouse when it comes to car insurance. Deeply rooted in Quebec and present across the country, Desjardins offers a variety of coverage options to keep your car protected, placing it among the top car insurance companies in Canada.
What does Desjardins car insurance offer?
- Third-party liability and accident benefits, ensuring you meet legal requirements and have protection in case of accidents.
- Desjardins allows you to tailor your policy with options like collision and comprehensive coverage, protecting your car from collisions, thefts and even those wild Canadian weather moments.
- Desjardins offers additional coverage options like roadside assistance and waiver of depreciation (replacing your car with a new one of the same model year in case of a total loss).
Pros and cons of Desjardins car insurance
Why Desjardins might be your insurance buddy
- Supporting a Canadian-based company with a strong reputation can feel good!
- Score savings with discounts for things like safe driving, being a loyal customer and having certain safety features in your car
- Desjardins offers bilingual support, making car insurance a breeze for French and English speakers alike
Things to consider
- Not-so-great customer service across provinces
- Limited add-on options
- Some customers experienced a delayed claim process
How much does Desjardins car insurance cost?
Here's a sample quote for your reference:
| Persona | Location | Vehicle Details | Average Rate |
|---|---|---|---|
| Female, 40 years | Desjardins Car Insurance Ontario | 2014 FORD EDGE SEL 4DR 2WD | $140/month $1,680/year |
| Male, 29 years | Desjardins Car Insurance Ontario | 2021 FORD F150 XLT SUPERCAB 4WD | $164/month $1,966/year |
9. Co-operators Car Insurance
The Co-operators is a Canadian co-operative insurer, meaning it's owned by its policyholders, not investors. It offers a variety of car insurance options, focusing on providing value and protecting what matters most to Canadians.
What does Co-operators car insurance offer?
- Third-party liability and accident benefits, keeping you legal and protected in case of bumps and bruises.
- You can choose from collision and comprehensive coverage to safeguard your car against collisions, thefts and even acts of nature (think crazy Canadian hailstorms!).
- The Co-operators allows you to customize your policy with features like roadside assistance and waiver of depreciation (replacing your car with a new one of the same model year in case of a total loss).
Pros and cons of Co-operators car insurance
Pros
- Personalized coverage options by province
- Local offices for better customer service
- Additional discounts available
- More affordable than many competitors
Cons
- Long response times noted in reviews
- Errors in documents may be overlooked
How much does Co-operators car insurance cost?
Here is what the C-operators car insurance costs in Ontario for a 2022 Acura ILX 4DR model look like:
| Age | Gender | Winter Tires (Ontario, Dec-March) | Monthly Cost |
|---|---|---|---|
| 28 | Female | Yes | $284.75 |
| 24 | Male | Yes | $305.92 |
| 50 | Female | Yes | $215.92 |
| 66 | Male | Yes | $204.58 |
10. Allstate Car Insurance
Allstate Insurance isn't just about catchy commercials (although, let's face it, Mayhem is pretty memorable). It’s a major insurance player in North America, offering a variety of car insurance options to keep you cruising with confidence.
What makes Allstate one of the best car insurance companies?
- The legal stuff: Third-party liability and accident benefits, ensuring you're following the law and protected in case of accidents.
- Shield your ride: Add on collision and comprehensive coverage to protect your car from collisions, thefts, vandalism and even harsh weather.
- Bonus coverage options: Allstate offers additional features like roadside assistance, loan/lease payoff coverage (to help pay off your car loan if it's totaled) and accident forgiveness (to prevent your rates from skyrocketing after a mishap).
Pros and cons of Allstate car insurance
What people love about Allstate
- Customizable coverage options
- Accident forgiveness
- New car replacement & roadside assistance
- Many discounts, including safe driving
- Excellent customer service
- Discounts for electric vehicles
What they don't love
- Higher premiums than other options
- Difficulty canceling policies reported
- Limited coverage options in some states
- Proprietary credit-based premium calculation
How much does Allstate car insurance cost?
Go to Allstate’s website, and simply provide your details and coverage preferences — and Allstate will tailor a personalized quote just for you. Here's a rough estimate to give you an idea:
| Coverage Type | Cost per Month | Cost per Year |
|---|---|---|
| Full Coverage | $154 | $1,850 |
| Minimum Coverage | $65 | $785 |
| GAP Coverage | N/A | N/A |
Other Top Car Insurance Companies in Canada
- YouSet: This innovative insurance brokerage platform helps you compare car insurance quotes online from various major providers, allowing you to find the best coverage and rates for your needs.
- Optimum Financial Group (OFG): OFG offers car insurance alongside other financial products, potentially making it a convenient option for bundling coverage.
- MyChoice: This brokerage focuses on finding you the best possible rate from a variety of reputable insurance companies.
- RBC Insurance: The insurance arm of the Royal Bank of Canada, offering a variety of car insurance options with the backing of a major financial institution.
- Sonnet Insurance: A fully online insurance provider offering competitive rates and a streamlined digital experience.
Car Insurance Companies Canada: FAQs
How to switch car insurance companies?
Switching car insurance is fairly simple. Get quotes from new companies, choose one and let them know you're switching. They'll handle the cancellation with your current provider.
What do car insurance companies look at in your records?
Car insurance companies look at your driving record for speeding tickets, accidents, at-fault collisions and claims history to assess your risk profile and set your premium.
What are the top 10 car insurance companies in Ontario?
It's not possible to definitively say the absolute top 10 best car insurance companies in Ontario, because the "best" depends on individual needs and priorities. However, here are some of the leading Ontario car insurance providers, each with their strengths: Intact, TD Insurance, Aviva, CAA, Economical, Desjardins, The Co-operators, Pafco and Sonnet.
To find the best Ontario car insurance companies (or in any other Canadian province), compare quotes from multiple companies to find the best rate and coverage for your situation. Feel free to use our comparator for the same.
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