There isn’t one car insurance company that offers cheap auto insurance quotes to every Toronto driver that applies for a policy.
Car insurance premiums are highly customized products. Some factors that insurance companies consider are out of your control (such as the company’s loss ratios, which are influenced by the driving histories of their other customers as well as their underwriting standards).
There are, however, some factors you can control and use to your advantage to find cheap car insurance in Toronto.
Factors that are under your control include the type of car you drive, your driving record, the number of kilometres you drive each year, your eligibility for discounts, and the amount of coverage you decide to buy.
In general, buying a utilitarian car that isn’t a target for thieves and has good safety ratings will bring down your rate, as will defensive driving, limiting your mileage, and opting for a basic car insurance policy.
You can drive down your rates a bit further by making yourself eligible for more discounts. For example, installing winter tires, or even maintaining a GPA above a certain level if you’re in school.
When comparing rates, we recommend focusing on the factors you can control, rather than what you can’t — but that’s only the first part of our strategy for finding the cheapest auto insurance quotes in Toronto.
The next step involves comparing car insurance quotes in advance of your policy renewal date. Since every insurance company’s tolerance for risk is a bit different, it’s highly likely that one may favour you more than your current auto insurance company. Once you compare quotes, you may be surprised by the variation in prices. We can help you find a car insurance company serving Toronto that can offer you a lower rate.