Different automobiles have different insurance costs, so when it comes to buying a car in Ontario, finding the cheapest cars to insure might be difficult. Fortunately, there are many good cars available with low average insurance quotes. However, it can take a long time to find the cheapest cars to insure.
We understand that you don’t have a lot of time to do auto insurance research. That’s why we’ve created a list of the 10 cheapest cars to insure in Ontario in 2022.
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What is the key to finding the cheapest car to insure?
The cost of purchasing a car is much higher than the sticker price.
Even if you’ve discovered a good deal on the make and model you want, it’s a good idea to consider the cost of car insurance in Ontario as well. Some cars are less expensive to insure than others, but that doesn’t mean they’re inexpensive. Insurance rates are determined by a variety of criteria related to a certain vehicle. The original sticker price, expected repair costs, safety ratings, and a model’s claims history are all factors to consider.
Because they are less expensive to fix, low-cost cars are usually allocated reduced rates. Premiums are higher for models that perform well in safety testing. When it comes to vehicle insurance rates, cars with better claims records in terms of damage costs they suffer and inflict on other cars get a break.
Therefore, we evaluated estimates based on our data to provide you with the knowledge you need to select the best vehicle and secure the best rates. If you’re just getting started with your purchase, now is an excellent time to look at insurance costs.
Comparing coverage from several insurers might help you save money on your total car ownership costs, especially if you have a loan. Our guide will help you understand how the car you choose affects your insurance rate.
First, let’s get started to find out which car has the cheapest insurance in Ontario!
What are the cheapest cars to insure in Ontario?
Each year, the cheapest car to insure in Ontario changes. Rates for some models will rise or fall as new vehicles become available and providers modify how they calculate rates.
However, several models are frequently ranked as the most affordable to insure. To give you a clear idea of your options, we’ve included models from a variety of classes.
Here are some of the most popular models that have topped the list in the last five years and are a great choice for lower payments:
Here are a few more reasons to go with one of these vehicles that are noted for having low insurance costs.
Every year, the Jeep Wrangler appears on the list of the cheapest cars to insure in Ontario, though its position in the top 10 has slipped since 2017. It is good for families, individuals who travel, and those who enjoy the outdoors because it is a larger vehicle with plenty of storage capacity. You’ll spend less for coverage without sacrificing quality or style when compared to other similar models.
The Versa Note, from Nissan, is one of the most fuel efficient cars in Canada. Its cheap starting price and excellent fuel economy make it a cost-effective pick in and of itself, but it also boasts some noteworthy safety features for its vehicle class. Seat belt pre-tensioning, anti-lock brakes, and stability control are among them. These factors combine to make it one of the most insurance-friendly vehicles in its class.
Hybrids aren’t the first car type that comes to mind when considering lower insurance costs. Many people are surprised to learn that the Prius has consistently appeared in rankings over the last few years. If you’re looking for a vehicle like this, this is great news. It is noted for not just producing fewer emissions and having low fuel expenses, but also for its great safety features.
The Odyssey is the car for you if you need a vehicle that can comfortably seat your entire family, is inexpensive and has all of the features you require. Despite the fact that SUVs are popular nowadays, they nevertheless hold their own, and people are drawn to them because they are insurable.
The CR-V is a compact SUV from Honda that looks excellent and is ideal for city and highway driving. The brand is recognized for its dependability and safety features, two factors that insurers consider when determining premiums.
Compact vehicles come to mind when people think about better insurance. The Cruze is a tight race, but the sedan comes out on top in terms of pricing—most likely because the trunk doesn’t have as big of an impact on the rest of the car’s structure as the hatchback model does if the car is ever rear-ended.
Top 10 cheapest vehicles to insure in Canada – best selling models 2022
Here’s an example of premiums for the top ten most popular automobiles sold so far in 2022:
|Vehicle||Sales To Date||Premium|
Which car model has the cheapest insurance?
According to Forbes blogger Jim Gorzelany, SUVs, crossovers, and minivans are driven more politely than sports or high-performance luxury automobiles. They’re made for families who value security above all else.
Their drivers are also more experienced and careful. Almost all of the vehicles on these lists are intended for families.
The Jeep Wrangler Sport 4WD and the Honda Odyssey LX are both 5-star rated for safety. This is the highest safety rating a car may obtain from the National Highway Traffic Safety Administration, which is a key element in lowering insurance costs.
The following is a list of less-priced models sorted by vehicle type.
Cheapest SUVs to insure
|SUV Model||Premium||Monthly Payment|
|Hyundai Santa Fe Sport||$2,463||$205|
In Canada, trucks are very popular. The following are some of the most cost-effective pickup trucks to insure:
|Truck Model||Premium||Monthly Payment|
In general, sports vehicles cost more to insure than other vehicle classes. Consider a vehicle from this list if you wish to drive a sports car while saving money.
|Sports Car Model||Premium||Monthly Payment|
|2017 Mazda MX-5 Miata||$2,512||$209|
|2017 BMW Z4 Roadster||$3,170||$264|
|2017 Subaru BRZ||$3,441||$287|
|2017 Porsche Boxter||$2,951||$246|
|2018 Audi TT||$3,055||$255|
|2018 Chevrolet Camaro SS||2.338||$195|
|2017 Ford Mustang GT||$2,302||$192|
|2018 Subaru WRX STI||$2,681||$223|
|2018 Nissan 370Z||$3,524||$294|
Do you own an electric car? Are you considering purchasing or leasing one in the future? Many insurance companies grant up to a 10% reduction for drivers who drive an electric or hybrid vehicle. Here are a few to consider:
|Electric Car Model||Premium||Monthly Payment|
|Kia Soul EV||$2,964||$247|
|Tesla Model 3||2.562||$214|
|Ford Focus Electric||$1,699||$142|
|2018 Nissan 370Z||$3,524||$294|
Because luxury automobiles are more expensive, they are a bigger target for thieves, and they are more expensive to fix, they are associated with increased prices. However, good rates can still be found. Here are the cheapest luxury insurance solutions.
|Luxury Car Model||Premium||Monthly Payment|
|BMW 3 Series||$2,481||$207|
What is the cheapest car brand to insure?
What brand has the most affordable insurance premiums? Over 8,000 quotations from drivers from the top 20 manufacturers were compared. Domestic brands have some of the lowest insurance costs. The insurance for luxury and foreign brands was the highest.
|Rank||Car Brand||Premium||Monthly Payment|
What are the cheapest used cars?
As long as the vehicle isn’t too old, used vehicles are usually less expensive than new ones. So, if you want to save money, consider purchasing a secondhand car. Here’s a selection of used vehicles to think about:
What car should a teenager get?
Insurance premiums are higher for teenagers. How much is it? The premiums for these plans are often higher than the average for other drivers. Here’s a rundown of some of the cheapest options for teenagers:
|Vehicle||Cheapest Premium||Monthly Payment|
|Volkswagen Golf GTI||$3,198||$267|
Why are some cars cheaper to insure than others?
Certain makes are less expensive to insure than others. Insurers keep track of all costs associated with auto insurance claims and can tie them to individual models. The type of vehicle, accident rates, repairs, theft, and the car’s safety ratings all have an impact on the rate.
The following are the primary factors that influence how much a car costs to insure:
Type of car driven
The type of car you drive is typically a reflection of your lifestyle, life stage, and how you use the vehicle. A minivan or crossover, for example, is more likely to be driven by a married couple with children. Based on statistical data, insurers assume that people who drive a given type of car are worried about safety and drive cautiously. This type of driving behavior usually results in fewer collisions or insurance claims.
Insurance is influenced by a car’s safety rating. Lower fees are associated with higher safety ratings. With developments in engineering and technology, they are growing safer every year. Crash protection and avoidance are used to determine safety ratings. In the case of an accident, how well does it protect the individuals inside? Forward collision warning and the automatic emergency braking are examples of new technologies that can help prevent or decrease the severity of an accident, making it safer.
Costs of repair or replacement
Repair or Replacement Not only are repairs expenses higher but so are replacement costs if the car is too badly damaged to repair or if the costs exceed the car’s value.
According to IBC, a car is stolen every 7 minutes in Canada. For insurers, theft is a serious concern and risk. Some of this cost must be passed on to the consumer. You will save more money if you drive a car with a low theft rate. You can save even more money by installing an aftermarket anti-theft alarm gadget.
Tips for choosing a low-cost car to insure
Saving money on insurance is similar to saving money on anything else. If you understand the factors that influence how much you will pay, you can receive excellent value. To locate a car that meets your needs, use these tips:
- Opt for a small car or an SUV
- Purchase a used car that isn’t too old
- Don’t succumb to the temptation of purchasing a sports car
- Examine the safety ratings and select one of the safest vehicles to save even more money
- Check out the most stolen cars in Canada and think twice about buying a car if it’s on the list.
Shop around for a low-cost vehicle to insure
While car insurance prices are mostly determined by the type of vehicle you purchase, there are certain personal factors to consider. The age, sex, marital status, location, credit rating, and driving record of a driver are among them. These so-called risk factors are used to determine the likelihood of a person being involved in an accident or having their vehicle stolen. Because each provider utilizes a different calculation, it’s best to check around for insurance costs.
The car you decide to buy, including everything from the engine size and safety features to the cost of repairs or replacement, has a significant impact on how much insurance you will pay.
Keep in mind that a lower price isn’t always better, especially when it comes to something as crucial as your vehicle insurance. You want to know that you’ll be protected if you need it, so we’ll make sure the coverage and pricing are perfect for you. It’s crucial to remember that cautious, defensive driving is the only way to go. Even in a safe car, a bad driver presents an insurance risk. Stick to the rules of the road and keep a clean driving record to get the best car insurance rates.
We compiled a list of the cheapest cars to insure in Ontario by gathering listings from top auto sites all around the internet. Make thorough research and select the greatest choice for you.
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