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Driving in Waterloo.

Most popular cars in Waterloo

The population of the Kitchener-Cambridge-Waterloo area is about 600,000, and growing. As a result, the population of the region has grown substantially, driven primarily by young families. Here are the most popular car brands in Waterloo, among online auto insurance shoppers.

Popular Brands

  1. Honda
  2. Toyota
  3. Mazda
  4. Nissan
  5. Ford

Who shops for car insurance in Waterloo?

Waterloo’s thriving tech sector has made it one of Canada’s fastest growing locations. With several universities in the area, Waterloo has become an attractive hot spot for young professionals and young families. Here’s who’s shopping for cheap auto insurance quotes in Waterloo.

Gender of our users


Average Age


years old

Tickets & Accidents

Have Tickets
Have Had Accidents

Your questions about Waterloo car insurance, answered.

How much is car insurance in Waterloo?

There is no standardized cost for car insurance in Waterloo, because car insurance is an extremely customized product. Your premium will depend on a number of different factors — some which are in your control and some that are not — including the loss ratios of the car insurance company in Waterloo you’ve selected. Car insurance calculator tools geared for Waterloo drivers require less information, but this also makes them less accurate. Keep reading for more information on how you can roughly estimate your car insurance costs in Waterloo.

Which Waterloo postal code has the highest premiums?

The postal code with the highest average automobile insurance price in Waterloo is the region of N2L. University Avenue runs right through the middle of this district, which is where the University of Waterloo and Wilfred Laurier University are located. In addition, this district includes a portion of the Westmount Golf and Country Club along with the UoW environmental reserve.

Which Waterloo postal code has the lowest premiums?

The N2J region pays the lowest prices for car insurance in Waterloo, according to data pulled from This district includes a portion of Wilfred Laurier’s campus along with Conestoga College’s Waterloo campus. This postal code region is also home to a slew of family-friendly attractions, including restaurants, community centres and churches.

How do Waterloo car insurance quotes compare to other cities in Ontario?

The city of Waterloo is quickly growing, which means there are more drivers on the road. In addition, residents of the Tri-City have been known to commute back and forth between regions. To give you an idea of what Ontario residents pay in car insurance, here are the cities in the province that pay the most based on data.

The most expensive cities to purchase car insurance in Ontario are (beginning with the most expensive city):

  1. Brampton
  2. North York
  3. Mississauga
  4. Scarborough
  5. Toronto

These are the cities that pay the least for car insurance in Ontario (beginning with the cheapest city):

  1. Ottawa
  2. Kingston
  3. Pembroke
  4. Cornwall
  5. Brockville

Where you live in Canada does have an impact on how much you’ll pay annually in car insurance. It’s important to keep in mind that a number of other factors come into play as well. Your premiums can also be impacted by how much you drive, your driving history, your age, and a number of other things.

While there are some things you can do to secure an affordable car insurance rate in Waterloo, some factors are out of your control.

These may include the car insurance premiums paid by people in your area or the losses of the insurance company you’re working with. Losses are influenced by the driving histories of other customers as well as the company’s underwriting standards. This is why finding a cheap car insurance policy isn’t as straightforward as you might think.

Our advice is to focus on the things you can control to ensure that you obtain the best possible rate on your car insurance. These include being a safe driver and making payments on time, being a defensive driver, investing in winter tires and — if you’re a student — maintaining a high GPA.

Lastly, don’t forget to compare the market to ensure that you’re getting the best rate. You might be surprised at how much you can save from one insurance provider to the next.

What factors determine my car insurance quotes in Waterloo?

There are a number of factors that determine your car insurance rates in Waterloo. Here’s are some to consider:

Your licence level: Not having a full licence will cause your premium to be higher. Conversely, having a full licence has a positive effect on your car insurance rates. New drivers looking for car insurance in Waterloo may see higher rates due to this factor. This is also why students who need car insurance in Waterloo may face challenges securing an affordable rate.

Your mileage: How much you drive everyday is another major contributor to what you’ll pay in auto insurance rates. Someone who drives 30-45 minutes to and from work each day will pay more for car insurance than someone who only uses their car to run the occasional errand.

Your postal code: Insurance companies determine rates based on the postal code you live in. If your area generally has a high number of claims, you may find yourself paying higher rates compared to the people living in the next postal code over.

Your driving record: Your driving history is another factor that will heavily impact how much you pay for car insurance. Someone with an accident or multiple tickets on their record will pay more for insurance than someone with a clean record because they’re deemed higher risk. Having little driving experience ( less than 10 years), previous claims, and driving convictions will push your car insurance rates up. For this reason, car insurance rates for high-risk drivers in Waterloo may be higher than the average rate.

Your age: Like it or not, the younger you are, the more you’ll pay in car insurance (premiums level out by age 30). This is because you’re considered a high risk driver until you’ve built up a driving history that demonstrates the opposite. There isn’t much you can do about it, but at least you’re not alone. Young people across Canada face the same high auto insurance rates than the more experienced drivers they share the road with. This is another reason why insurance companies might be hesitant to give new drivers in Waterloo a cheap rate on their car insurance.

However, being young isn’t the only way age can impact your car insurance rates. Adults between the ages of 50 and 70 get some of the lowest car insurance rates in Canada. If you belong to this demographic, you probably have a long history of being insured and you might even have bundled your home insurance policy with the same provider of your auto insurance. After age 70, you might see your rate begin to creep up. People in this age group are statistically more likely to need to file a claim and need more time to recover from an injury. Therefore, seniors in Waterloo who hold car insurance policies may also pay higher rates due to a higher rate of accidents in this age group.

Your policy: How much you pay in auto insurance is impacted by how much auto insurance you buy. There are a number of different policies to choose from in Waterloo, but everyone in Canada is required to have at least a basic level of car insurance.

Your insurance history: In addition to having a poor driving history, your insurance history can also play a role in determining your rates. If you’ve filed multiple claims or have a history of missing payments, you may be given a higher rate. Furthermore, new immigrants who need car insurance in Waterloo may also face challenges because they have no Canadian insurance history at all.

What kind of car insurance do I need in Waterloo?

Third party liability and accident benefits - You must carry this type of insurance to legally operate a car in Ontario. This type of basic car insurance policy protects your liability if you injure someone else in a collision. It also pays for your medical costs. You must have liability benefits worth at least $200,000 and accident benefits worth at least $50,000.

Collision - Covers the cost to repair or replace your car if it is damaged in a collision.

Comprehensive - Covers costs if your car is damaged by things other than a collision, including theft, vandalism, or falling objects.

Specified perils - Protects your car from insurable risks that you specify you want in your policy. If it’s not written in the policy, it isn’t covered.

All perils - A hybrid between collision and comprehensive insurance. Offers coverage if your car is damaged in a collision or by any other insurable risk.

You can customize your car insurance quote to reflect any type of coverage.

Where do I get cheap car insurance quotes in Waterloo?

Because car insurance is such a customized product, there is no one car insurance company that provides the cheapest car insurance premiums to all of their customers. In addition, there are a number of factors contributing to your car insurance rates that you can’t control.

These might include the insurance company’s loss ratios or the rates paid by the other residents of your area. In addition, there are a number of factors you can control, including being a safe driver and making your insurance payments on time. There’s no telling, however, how all these factors will be combined to determine your exact rate.

This is why it’s so important to compare the market to ensure you’re getting the best deal. You might be surprised at how much money you can save by going with an insurance provider that better fits your risk profile.

Facts and myths about driving in Waterloo


  • Waterloo is the third member of the Tri-Cities, an affectionate term for the regions of Cambridge, Waterloo, and Waterloo. And even though the two cities share a border, Waterloo is still considered a region separate from Waterloo.
  • Waterloo is the technological heartland of Ontario. In fact, one of the founding companies of the smartphone industry, Blackberry, built its headquarters here.
  • Conestoga Mall is located near the north end of town, off King Street and Highway 85. It's the 3rd largest shopping centre in the Region of Waterloo.


  • Waterloo traffic mainly flows south towards Waterloo. False. Drivers in the region also commute north to their jobs at tech companies like Google and Blackberry.
  • Transit options are limited. False. Waterloo is serviced by Grand River Transit, GO Transit, and VIA Rail.
  • The city is populated primarily by university students with European backgrounds. There's a strong German population, but Waterloo is rapidly becoming home to young immigrants from all over the world.

Waterloo driving tips

  • Avoid University Avenue at rush hour. Due to the sheer volume of students commuting to and from classes, it's one of the busiest streets in Waterloo. Highway 85 also connects directly with the east end of University Avenue, which adds even more cars to the street during the busy times of day.
  • Look for alternatives to King Street. King Street runs north-south through the centre of town, running parallel to Waterloo Town Square and extending north towards Conestoga Mall. But when construction causes delays on or near King Street, traffic gets congested. Many local events occur at Waterloo Town Square in the summer, which also shuts down portions of the main road.
  • Don't visit St. Jacobs market on a Saturday. If busy crowds and heavy traffic aren't your thing, you won't like driving to St. Jacobs market, located at the north end of Waterloo, on the weekend. The market's also open on Thursdays (year-round) and on Tuesdays (in the summer), so you can avoid the heavy Saturday crowds.

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