Best Car Insurance Companies in Canada
Auto insurance is mandatory for all drivers across the country. But rates can really vary, not just from one province to the next (though, for those interested, Quebec tends to have the cheapest options while British Colombia has the most expensive), but also within each province itself. There are dozens of auto insurance providers in Canada, each one using its marketing skills to convince you that they are the best choice. But, how can you truly make sure that you are getting the best insurance rates?
To make the insurance shopping experience a little less painful, we’ve created this post to help compare some of the best car insurance companies in the country.
Buying Direct vs. Using a Search Platform
Once you know what you need in terms of auto insurance in Canada, it’s easy to go online and find a quote. There are two different ways to get an auto insurance quote: The first is to go directly to the auto insurance provider and get a quote from them. The second is to use an insurance search platform. Both have their pros and cons.
Going direct is a good way to potentially save money via bundling, if the insurance company is one you already use for other vehicles and/or your home insurance. If not, you may want to consider using the same insurance provider for multiple needs, since they may offer you that bundled service. Loyalty can be used to your advantage when looking for better deals, and keep in mind that some auto insurance companies offer discounts if you’re part of an association or if you’re a graduate from a certain college or university.
That being said, by only approaching one company, you may not be getting the best deal available to you, even if you do get a deal for bundling. This is where the insurance search platforms come in handy, as they allow you to search for quotes from all of their partners at the same time, which gives you more choices.
There is no right or wrong way to go about shopping for auto insurance, it depends on your loyalty and how much work you are willing to put into shopping around for the best rates.
The Best Car Insurance Companies and Search Platforms in Canada
|Auto Insurance Provider||Standout Feature|
|Kanetix.ca||50+ auto insurance companies to compare||Learn More|
|InsuranceHotline.com||30 auto insurance companies to compare||Learn More|
|TD Insurance||TD MyAdvantage app||Learn More|
|Sonnet||Customizable coverage options||Learn More|
|Co-operators Insurance||Well-known and established company||Learn More|
|RBC Insurance||Decent discounts for bundling||Learn More|
|Desjardins Insurance||Plenty of discount opportunities||Learn More|
|Belairdirect Insurance<||Easy to use online tools to manage your insurance||Learn More|
Kanetix.ca is an insurance search platform that offers visitors the option to get quotes from more than 50 auto insurance providers. It’s limited to customers based in Ontario, Alberta, and Quebec, but is a user-friendly tool for those looking to shop around. Once you pick the quote you are the most comfortable with, Kanetix.ca will connect you with the insurance provider to ensure that you get the quoted rate. Discount options may be available through certain insurance providers on this search platform.
Insurancehoteline.com is another insurance search platform that is popular among Canadians. They have a smaller network of Canadian insurance companies, 30 compared to Kanetix.ca’s 50+, but InsuranceHotline.com is well rated, trusted by consumers, and regularly featured in the media. InsuranceHotline.com is actually a part of Kanetix.ca, and can benefit customers in Ontario and Alberta. Discounts may be applicable through some insurance providers on InsuranceHoteline.com.
Enter your postal code below to get a quote from one of InsuranceHotline.com’s 30+ providers.
TD is one of Canada’s leading banks and its insurance division is pretty well known as well. One of the top benefits of using TD insurance is that they have several ways for you to save on your auto insurance plan. The first and most obvious way is through bundling; either car and home insurance or multiple car insurance policies. A second way you can save is by using the TD MyAdvantage App. You can download the app to your phone and have it analyze your driving. The safer you drive, the more you can save on your insurance premium. TD Auto insurance is available in the following provinces: Ontario, Quebec, Prince Edward Island, Nova Scotia, Newfoundland, New Brunswick, and Alberta.
Sonnet isn’t one of the ‘big guns’, but they’re a good company to consider for those looking for a more personalized auto insurance option. Sonnet is a fully online insurance provider, which reduces their operating costs and allows them to offer lower rates to consumers. They have three pre-set packages at different price levels, but also offer the option for you to customize your package based on your personal needs. Sonnet is available to Canadians living in Alberta, Ontario, Quebec, Prince Edward Island, New Brunswick, and Nova Scotia.
Co-operators is likely a brand you’ll recognize, as it dates back to 1945 and is a well-trusted name with over a million customers across the country. Auto insurance from the Co-operators is available to those living in Alberta, New Brunswick, Newfoundland, Northwest Territories, Nova Scotia, Ontario, Prince Edward Island, the Yukon, and Quebec. The Co-operators also offer deals for those who are willing to bundle their insurance.
RBC offers some decent discounts for those who are willing to bundle: up to 12% for policies and up to 15% for multiple vehicles. RBC Insurance is available to customers from Alberta, Northwest Territories, Yukon, Nunavut, Ontario, Quebec, New Brunswick, Nova Scotia, Prince Edward Island, and Newfoundland.
Desjardins is the third largest insurer in Canada and, when you consider their stats, it’s easy to see why. This insurance company claims a 96% satisfaction rate and has more than 60 years in the business. One of the biggest draws of choosing Desjardins for your auto insurance needs is the fact that they offer many opportunities for discounts, including bundling options, winter tire discounts, student discounts, and even discounts for parking in a garage or private driveway. There is one notable drawback: Currently Desjardins only offers auto insurance to Canadians living in Ontario, Alberta, and Quebec.
With over 60 years in the insurance business and nearly 1 million customers, Belairdirect is another auto insurance company worth considering. Among its best features are easy-to-use online tools that allow clients to manage their coverage and track their claims. This can be done in the Belairdirect client centre or through the Belairdirect app. As with the other insurance providers on this list, Belairdirect does offer discounts and better rates for those who are willing to bundle. Belairdirect is available to those living in the following provinces: Alberta, British Colombia, New Brunswick, Nova Scotia, Ontario, Prince Edward Island, Quebec, and Newfoundland.