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Are you on the hunt for car insurance in Barrie, Ontario? We know costs can be high in Ontario, but don't worry! We've got you covered.
Whether you're a seasoned driver or new to the road, this guide simplifies the process and helps you find the best car insurance in Barrie at the best price.
Explore mandatory and optional coverage, discover cost-saving tips, and learn how to get discounts. Use our free online tool to compare cheap car insurance Barrie quotes and secure your policy today.
Car Insurance Barrie, Ontario: 5 Key Takeaways
- Mandatory coverage in Barrie ensures legal compliance and basic protection.
- Optional coverages offer tailored protection against various risks.
- Endorsements provide flexibility to customize your policy.
- Barrie's premiums are comparatively affordable in Ontario.
- Cost ranges from $1,400 to $1,600 per year.
A quick overview of the Car Insurance in Barrie
Having car insurance in Barrie is mandatory as in the rest of Ontario. Here are a few quick facts about the Barrie car insurance ecosystem.
- The Financial Services Regulatory Authority of Ontario (FRSA) acts as the watchdog for car insurance in the province.
- FRSA ensures that insurance companies' rates are fair and that agents and brokers selling auto insurance are properly licensed and follow all the rules.
- It works alongside the Registered Insurance Brokers of Ontario (RIBO), the self-regulatory body that oversees the licensing, professional conduct and financial obligations of independent insurance brokers in Ontario.
Before we dive into the coverage details, you can quickly compare car insurance quotes from Canada's best providers right here using our free tool below.
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Car insurance Barrie: What is mandatory coverage?
By law, all drivers in Barrie, Ontario must have car insurance with the following minimum coverages:
- Third-party liability: Covers you if someone sues you for property damage or injuries they sustained in an accident you caused.
- Direct compensation property damage: Covers damage to your car or another vehicle caused by a collision, regardless of who's at fault.
- Accident benefits: Covers medical and rehabilitation expenses for you and your passengers if you're injured in a car accident.
- Uninsured automobile coverage: Protects you if you're in an accident with a driver who doesn't have insurance or a hit-and-run driver.
This is the minimum required coverage. You can consider additional coverage depending on your needs.
What is optional car insurance coverage in Barrie?
There are several optional coverages you can add to your car insurance policy in Barrie to provide additional protection for yourself and your vehicle.
Here are some of the most common ones:
- Collision coverage: Pays to repair or replace your car if it's damaged in a collision with another vehicle or object.
- Comprehensive coverage: Covers your car for losses caused by events other than collisions, such as theft, vandalism, fire, weather damage and falling objects.
- Increased third-party liability limits: The minimum required liability coverage is $200,000, but you can increase this amount to $500,000, $1 million or even $2 million to protect yourself from lawsuits if you cause a serious accident.
- Increased accident benefits: Provides income replacement benefits of up to 70% of your gross income, to a maximum of $400 per week. You can increase this amount to provide a better safety net in case you're unable to work after an accident.
- Specified perils coverage: A more limited form of comprehensive coverage that only protects your car against certain perils that are listed in your policy, such as fire, theft or hail.
- All perils coverage: Combines collision and comprehensive coverage into a single policy, providing the most complete protection for your vehicle.
There are also many other optional coverages available, such as rental car coverage, roadside assistance and loan/lease protection.
Are there any endorsements in Barrie?
Yes! There are many Ontario Policy Change Forms (OPCFs) available for your car insurance policy in Barrie. These act as add-ons or endorsements that can modify your existing coverage depending on the specific OPCF number.
Here are your options:
For example
- OPCF 20 covers rental car costs while your car is being repaired after an accident. It's helpful if you rely on your car and need a replacement during repairs.
- OPCF 27 provides coverage if you damage someone else's car while driving it with their permission. It's useful if you borrow cars occasionally.
- OPCF 39 prevents your premium from rising after your first at-fault accident. It's good for drivers who want to avoid premium hikes after minor incidents. Consider limitations like forgiveness frequency or accident types excluded.
- OPCF 43 waives the depreciation applied to your car's value in case of a total loss. You'll get the car's original value, not the current market value. This is valuable for newer cars but may increase your premium.
- OPCF 44R protects you and your family from financially irresponsible drivers with insufficient insurance. It provides additional coverage if the at-fault driver doesn't have enough insurance to cover all the costs from an accident you didn't cause.
How much do car insurance Barrie policies cost?
The average cost of car insurance in Barrie is around $1,400 to $1,600 per year, depending on various factors. This is generally cheaper than the Ontario provincial average.
Here is how it compares with other cities in Ontario:
| Rank | City | Average 2024 premium |
|---|---|---|
| 1 | Vaughan | $2,179 |
| 2 | Ajax | $2,104 |
| 3 | Richmond Hill | $2,025 |
| 4 | Brampton | $1,976 |
| 5 | Mississauga | $1,971 |
| 6 | Pickering | $1,959 |
| 7 | Toronto | $1,953 |
| 8 | Oshawa | $1,833 |
| 9 | Whitby | $1,792 |
| 10 | Nobleton Schomberg Orangeville King City | $1,766 |
| 11 | Barrie | $1,582 |
Which factors can affect my car insurance Barrie premiums?
Here are some of the key factors that can affect the cost of your car insurance in Barrie:
- Your driving record: This is one of the biggest factors. A clean record with no accidents or tickets will lead to lower premiums.
- Your age and gender: Statistically, young drivers and males tend to be in more accidents, so they typically pay higher premiums.
- Your deductible: Choosing a higher deductible can lower your premium, but you'll need to be prepared to pay more upfront in case of a claim.
- Your car: The make, model, year and safety features of your car all influence the cost of insurance. More expensive cars or those with higher theft rates will cost more to insure.
- Your location: Living in a high-crime area with more traffic congestion will likely result in higher premiums compared to quieter suburbs.
- Your annual mileage: The more you drive, the higher the risk of an accident, so the more you might pay for insurance.
- Your coverage choices: The type and amount of coverage you choose will impact the cost. More comprehensive coverage will obviously cost more than basic liability coverage.
Also, your insurance company. Different insurance companies have different pricing structures and risk tolerance levels.
For instance, for a CHEVROLET CRUZE LS TURBO 4DR 2017, you can end up paying different amounts based on the company you select.
For example
- CAA My Pace: $1,303
- Intact: $1,537
- Pembridge: $1,737
- Wawanesa: $1,787
Always shop around and compare quotes from multiple companies before making a decision. Try our comparator to get personalized car insurance quotes in Barrie.
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Which companies offer the best car insurance Barrie policies?
See, there is only one way to find the best or cheapest car insurance Barrie policy — compare, compare and compare.
Here are some options to start your hunt:
Economical Insurance
Economical Insurance is a budget-friendly option for Barrie drivers looking for basic coverage at competitive rates. It offers the essential coverages you're legally required to have but may have fewer optional coverages compared to some competitors. It's a good idea to compare quotes with other companies to see if you can find a similar level of coverage for a slightly higher price that might include additional benefits.
Intact Insurance
Intact Insurance is a well-established company known for its strong customer service reputation. It offers a wide range of coverage options in Barrie, from basic liability to comprehensive protection, allowing you to customize a plan that suits your needs. Additionally, Intact often provides various discounts like bundling your car insurance with home insurance or taking defensive driving courses.
CAA car insurance Barrie
Canadian Automobile Association (CAA) offers car insurance in Barrie alongside their membership benefits, which include roadside assistance and discounts on car rentals and repairs. This can be a valuable option for CAA members who already utilize these services and want the convenience of having everything under one roof.
However, CAA insurance plans might not be the most competitive in terms of price when compared to other companies. It's worth getting quotes to see if the bundled benefits outweigh any potential cost savings elsewhere.
TD Insurance
TD Insurance, backed by the Toronto-Dominion Bank, offers car insurance in Barrie with the advantage of bundling it with other TD products like banking or home insurance. This can be a good option if you already bank with TD and want the convenience of managing everything in one place. However, similar to CAA, focusing solely on price, TD Insurance might not be the most economical choice.
You can compare all your options using platforms like YouSet. It uses its fancy algorithms (or maybe a well-trained ferret, who knows?) to scour quotes from a bunch of different insurers. This can save you time from comparison shopping yourself. You can also use our comparator.
Good to know
YouSet is all about their UBI model, which means they track your driving habits. Drive like a grandma on a Sunday drive, and you might score a sweet discount. But if you have a lead foot or a thing for late-night joyrides, well, your rates might not be so friendly.
What can I do to get cheap car insurance in Barrie?
If you’re looking to score a sweet deal on car insurance in Barrie, here are some tips:
- Be a loyalty pro: Insurance companies love rewarding loyal customers. Sticking with the same company for a few years can land you discounts you won't find by hopping around every renewal. Think of it as a long-term play for your wallet.
- Up your game with defensive driving courses: Not only will this make you a safer driver (good on you!), but many insurance companies offer discounts for completing defensive driving courses. It's a win-win!
- Telematics? Maybe: Some insurers offer telematics programs that track your driving habits (think gentle braking and avoiding rush hour). Prove you're a responsible driver and watch your rates potentially dip! But if you drive like a maniac, this could backfire.
- Bundle up like it's winter: Insurers love giving discounts when you bundle your car insurance with home or condo insurance. It's a reward for being a responsible grown-up (who also happens to love saving money).
- Ask about low-mileage discounts: If you don't drive much, some insurers offer discounts for low annual mileage. Perfect if your car spends more time parked than cruising.
Remember, the key is to be a smart shopper. Play it safe, be a loyal customer, and don't be afraid to ask about discounts you might not know exist. That’s all in addition to comparing multiple quotes, of course. Feel free to use our comparator.
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