Car Insurance Oakville FAQs
How do I get car insurance as a new driver in Oakville?
As a new driver in Oakville, Ontario, getting car insurance can seem daunting. However, there are steps you can take to make the process smoother and ensure you get the coverage you need at a reasonable price.
1. Understand the minimum coverage requirements: Ontario law requires all drivers to carry a minimum of $200,000 in third-party liability coverage. This coverage protects you from financial loss if you are found responsible for causing injury or property damage to another person in an accident. It’s important to understand this requirement when shopping for car insurance.
2. Shop around for insurance: It’s important to obtain quotes from multiple insurance providers to compare rates and coverage options. As a new driver, you may be considered a higher risk and charged higher premiums. However, each insurance company uses its formula to calculate premiums, meaning rates can vary widely between providers.
3. Consider a higher deductible: Choosing a higher deductible, which is the amount you pay out of pocket before your insurance coverage kicks in, can result in lower premiums. However, it’s important to choose a deductible that you can afford in the event of an accident.
4. Look for discounts: Some insurance companies offer discounts for safe driving, completing a driver training course, or bundling multiple insurance policies. These discounts can help you save money on your premiums.
5. Consider adding a co-signer: If you are a young or new driver with limited driving experience, adding a co-signer to your policy, such as a parent or guardian, can help lower your premiums. This is because the co-signer’s driving history and experience can help offset the perceived risk of insuring a new driver.
6. Work with a licensed insurance broker: Working with a licensed insurance broker can help you navigate the process of getting car insurance as a new driver in Oakville. They can help you understand the different coverage options available and find the best options for your needs and budget.
Overall, getting car insurance as a new driver in Oakville requires some research and effort. However, by understanding your coverage requirements, shopping around for insurance, and considering discounts and other options, you can find the coverage you need at a price you can afford.
What are the main things affecting my auto insurance premiums in Oakville?
Car insurance premiums in Oakville, Ontario, are determined by various factors unique to each driver. Understanding these factors can help you find the best car insurance coverage at the most reasonable price.
One factor that insurance providers consider when determining premiums is age and driving experience. Drivers who are younger or have less experience on the road may be considered higher risk and charged higher premiums as a result. Additionally, drivers with a history of accidents, traffic violations, or claims may also be charged higher premiums due to their higher perceived risk.
Another factor that can impact car insurance premiums is your vehicle type. Your vehicle’s make, model, and year can all impact your premiums, as some vehicles are more expensive to repair or replace than others. For example, luxury or sports cars may come with a higher insurance premium due to their higher value and cost to repair.
How you use your vehicle can also impact your insurance premiums. If you use your vehicle for business purposes or drive long distances regularly, your premiums may be higher than if you only use your vehicle for personal use and drive less frequently.
Your location can also affect your car insurance premiums. Areas with higher rates of theft, vandalism, or accidents may be charged higher premiums due to the higher risk of accidents or theft occurring in those areas.
In addition, the amount and types of coverage you choose can also impact your insurance premiums. Opting for higher coverage limits or additional coverage options, such as collision or comprehensive coverage, can increase your premiums.
Deductibles are also a factor in determining car insurance premiums. Choosing a higher deductible, which is the amount you pay out of pocket before your insurance coverage kicks in, can result in lower premiums.
Lastly, gender can also play a role in determining car insurance premiums. Statistically, male drivers may be charged higher premiums than female drivers.
It’s important to note that each insurance provider uses its formula to calculate premiums, meaning rates can vary widely between providers. It’s recommended to shop
around and obtain quotes from multiple insurance providers to compare rates and coverage options.
What type of auto insurance do I need in Oakville?
In Oakville, Ontario, drivers are required by law to have a minimum amount of auto insurance coverage, including:
Third-Party Liability Coverage
This section of your auto insurance policy offers protection if you are responsible for injuring someone or damaging their property. It covers the expenses associated with lawsuits against you up to the coverage limit and the costs of settling claims. While Ontario’s law mandates a minimum of $200,000 in third-party liability coverage, most policies recommend having at least $1 million.
Accident Benefits Coverage
This section of your auto insurance policy provides you with benefits if you suffer injuries in a car accident, regardless of who is at fault. It covers additional medical, rehabilitation, attendant care, caregiver, non-earner, and income replacement benefits.
Direct Compensation-Property Damage (DC-PD) Coverage
This section of your car insurance policy compensates for damages to your vehicle or its contents and loss of use resulting from an accident caused by someone else. It is called direct compensation because you receive it directly from your insurance company, even if someone else is responsible for the damage. To qualify for a DC-PD claim, the accident must occur in Ontario and involve at least one other vehicle that is insured by an insurance company licensed in Ontario or has a special agreement with FSRA to provide coverage.
Uninsured motorist coverage
Uninsured motorist protects you if you are involved in an accident with a driver who is uninsured, underinsured, or leaves the scene of the accident and cannot be identified. This coverage includes bodily injury, property damage, and underinsured motorist coverage. Although it is not compulsory, this coverage can safeguard you from financial loss in case of an accident with an uninsured or underinsured driver.
While these four types of coverage are mandatory, drivers may also choose to purchase optional coverage such as:
Collision covers damages caused by an at-fault collision with another vehicle or object. This coverage pays for the repair or replacement of your vehicle up to its actual cash value and has a deductible. Although it is not obligatory, it is beneficial for those who want financial protection for their vehicle, particularly for newer or more valuable vehicles.
Comprehensive provides protection against non-collision damage to your vehicle. This coverage pays for repairing or replacing your vehicle in case of damages resulting from theft, vandalism, weather events, falling objects, or animal collisions. While it is not compulsory, it can be a suitable choice for those requiring extra vehicle protection beyond what is legally required.
Specified Perils Coverage
Specified perils offers protection for your vehicle against specific risks outlined in your policy, such as fire, theft, and hail. It generally has lower premiums than comprehensive coverage but provides less comprehensive protection. For those who want to reduce their premiums while still having some protection against particular risks, specified perils coverage can be a suitable option.
All Perils Coverage
All perils combines collision and comprehensive coverage, protecting against a variety of risks like theft, fire, and collisions. It offers more comprehensive protection but is generally more costly. All perils coverage may be appropriate for individuals with newer or higher-value vehicles. However, it’s essential to review the policy’s limitations and exclusions. A licensed insurance broker can assist you in finding the most suitable coverage options for your requirements and budget.
How much is it to insure a car in Oakville?
The cost of car insurance in Oakville, Ontario, can vary significantly depending on a range of factors such as the driver’s age, driving history, type of vehicle, and coverage levels. According to our data, the average cost of car insurance in Oakville is approximately $2,720 per year. However, it’s important to note that this is just an average and individual premiums can vary significantly.
To get a more accurate idea of how much it will cost to insure your car in Oakville, you should obtain quotes from several insurance providers and compare coverage options
and rates. Factors that can impact your premiums include your driving record, age, the make and model of your car, the amount of coverage you choose, and any optional coverage you add on. Working with a licensed insurance broker can also help you find ways to save money on your premiums while still getting the coverage you need.
Is car insurance required in Oakville?
Yes, car insurance is mandatory in Oakville, Ontario, as well as throughout the entire province of Ontario. All drivers are required to have a minimum of third-party liability coverage, which covers the costs of any injuries or damages you may cause to other people or their property while driving. In addition to this mandatory coverage, drivers may choose to purchase additional coverage options such as collision and comprehensive coverage. It’s important to always have valid car insurance while driving in Ontario, as driving without insurance is illegal and can result in fines and other penalties.
How can I save on car insurance in Oakville, Ontario?
Car insurance is a necessary expense for all drivers, but there are ways to reduce the cost of your premiums. Here are some tips on how to save on car insurance in Oakville, Ontario:
1. Increase your deductible: Choosing a higher deductible can lower your insurance premiums. However, make sure you choose a deductible amount that you can afford to pay in the event of an accident.
2. Bundle your insurance policies: Many insurance providers offer discounts if you bundle your car insurance with other types of insurance, such as home or life insurance.
3. Take advantage of discounts: Most insurance companies offer discounts for safe driving, being a student, or completing a defensive driving course. Be sure to ask your insurance provider about any available discounts.
4. Drive less: You may be eligible for lower premiums if you drive less than the average driver. Consider carpooling or taking public transportation to reduce your mileage and lower your premiums.
5. Choose a vehicle that’s cheaper to insure: Some vehicles are more expensive to insure than others. Before purchasing a vehicle, consider how much it will cost to insure if possible.
6. Maintain a good driving record: Avoid accidents and traffic violations, as these can lead to higher insurance premiums. Keep a clean driving record to maintain lower premiums.
7. Pay your premiums annually: Paying your insurance premiums annually instead of monthly can save you money in the long run, as some insurance providers offer discounts for annual payments.
8. Review your coverage regularly: Regularly review your insurance coverage to ensure you are not paying for coverage you don’t need. Adjusting your coverage levels or deductibles can lower your premiums.
9. Work with an insurance broker: One of the best ways to save on car insurance is by working with an insurance broker who can compare quotes from multiple insurance providers on your behalf. They can help you find the most affordable rates and coverage options that suit your needs and budget.
Fast facts about auto insurance in Oakville
Average annual car insurance rate
Regular drivers in the city
Collisions per year (approximately)
Collision rate for the city
Average household income
Understanding car insurance in Oakville, Ontario
Oakville is one of Ontario’s wealthiest and safest communities.
Oakville is also one of the safest communities in Canada, not just Ontario. According to the 2018 Crime Severity Index, Halton scored as the safest overall region in the country, and Oakville is a big part of the region. Low crime rates play a substantial role in reducing a community’s average car insurance rate. That is why Oakville’s auto premiums stay lower than many neighbouring communities, like Etobicoke, Hamilton, or Mississauga.
Oakville’s rates are still on the upper-middle part of the scale, and there’s a reason for that. It’s a bedroom community for Toronto, which means that many, many people commute back and forth on a daily basis. Like other commute-heavy regions (like North York), all of that extra time on the road increases the risk of collisions for individual drivers.
Oakville itself is framed by the 407 on its west end and the 403 running parallel to Lakeshore Road, both feeding the commuter traffic into Toronto.
Get your bundle on & save!
Want even cheaper insurance? Save up to 50% on home and up to 18% on car insurance when you bundle them.
Get your bundle on & save!
Want even cheaper insurance? Save up to 50% on home and up to 18% on car insurance when you bundle them.
Busting myths about driving and insurance in Oakville
Myth: Oakville’s wealth attracts crime, driving up insurance rates.
Not true. According to Oakville News, the 2018 crime severity index ranked Halton as the safest region in Canada, not just Ontario.
If you’ve had misgivings about moving to the town due to its close proximity with Mississauga or Burlington, then we’d recommend thinking twice. Both cities are much safer than most people think!
Myth: Kerr Street is dangerous.
Not really, no. Oakville is one of the wealthiest communities in Ontario, skewing how affordable areas might be perceived. Kerr is safe to walk at night and serves as a good, affordable place for young professionals and familities to start out.
In fact, the Kerr Street Underpass Project is set to rejuvenate the area and broaden transit accessibility, making it even more enticing.
Myth: Car insurance is more expensive in Oakville because living costs are high.
False. While Oakville’s average car insurance rates are moderately high, they don’t rise or fall based on the cost of living or real estate prices.
Many cities throughout Ontario have lower costs of living and higher average car insurance rates because of things like collision rates, claims rates, and crime rates (to say nothing of personal driving records).
Myth: Your kids will need to move away for school.
Not necessarily. Sheridan College calls Oakville home, and it has a good reputation for animation and multimedia design, in particular.
Unfortunately, students often say that Oakville doesn’t offer much for them, citing under-developed public transit and establishments geared for middle-aged patrons.
How Oakville’s rates compare to other cities in Ontario
- North York: $4,261
- Etobicoke: $4,199
- Brampton: $4,071
- Scarborough: $3,825
- East York: $3,605
- Woodbridge: $3,603
- Richmond Hill: $3,579
- Mississauga: $3,473
- Markham: $3,389
- Niagara Falls: $3,321
- Bowmanville: $3,308
- Peterborough: $3,259
- Pickering: $ 3,245
- Newmarket: $ 3,216
- Hamilton: $3,201
- Brantford: $ 3,158
- Maple: $3,150
- Whitby: $3,087
- Ajax: $3,053
- York: $2,999
- Toronto: $2,983
- Barrie: $2,924
- Thornhill: $2,871
- Waterloo: $2,867
- Caledon: $2,780
- London: $2,765
- Fort Erie: $2,720
- Oakville: $2,720
- Sault Ste Marie: $ 2,713
- Kitchener: $2,705
- Milton: $2,680
- St Catharines: $ 2,550
- Windsor: $2,536
- Woodstock: $2,513
- Innisfil: $2,505
- Burlington: $2,476
- Kingston: $ 2,360
- Cambridge: $2,297
- Oshawa: $2,295
- Guelph: $2,268
- Gloucester: $2,256
- Stoney Creek: $2,222
- Nepean: $2,196
- Ottawa: $2,195
- Sudbury: $2,005
- Kanata: $2,002
- Thunder Bay: $1,973
- Wasaga Beach: $1,958
Quick tips on insurance and driving in Oakville
Take the train into Toronto to reduce your driving commute distance.
There’s a direct correlation between how far you travel every day and how much you pay in insurance premiums. If you’re commuting to Toronto regularly then you have a golden opportunity to reduce your car insurance rates! Take the train, which takes about 35 minutes to get to Union Station. Less time on the road means lower risk and lower rates (generally).
Move to areas with lower crime rates to improve your car insurance.
Oakville has areas with greater and fewer instances of crime than the rest of the city, just like anywhere else. The Halton Police’s crime map shows that these areas show higher crime rates:
- Southern Holton Heights
- East of Castle Green surrounding the QEW
- Neighbourhoods between Rebecca and Kerr
Have your child take a G road test in another city.
Oakville has some of the highest drive test failure rates in Ontario. Specifically, Oakville’s Drive Test carries a 43% failure rate for road tests to obtain a G2 license and a 45% failure on G license road tests. Brampton and Etobicoke have similar rates, so it’s best to avoid those locations as well.
Fortunately you can travel to Burlington, Hamilton, and Guelph to find Drive Test locations with higher success rates between 25% and 40%, often in the low 30s.
Don’t drive through downtown Oakville if you need to commute.
Oakville’s downtown core has just recently undergone Phase 1 of its Road Revitalization Project, having reopened Lakeshore Road in mid-November (2019).
There’s still a lot of construction on the way, however. If you’re in the market for a house and need to commute outside of the town for the foreseeable future, then it might be best to avoid properties near downtown.
Oakville Insurance FAQs
How do Oakville car insurance quotes compare to other cities in Ontario?
On average, car insurance in Oakville is less costly than in many other GTA cities, especially Vaughn and Ajax, which have the highest average auto premiums of $2,179 and $2,104, according to a 2022 report.
More good news, insurance prices in Oakville may also be less than Ontario’s average of $1,555 for drivers with clean records. In 2021 Oakville News reported that the city’s average car insurance rate was $1,380, comparable to the Ontario cities with the lowest average rates, such as Port Hope ($1,175) and Cornwall ($1,132).
What can I do to get cheap car insurance in Oakville?
One of the best ways to get more affordable auto insurance rates in Oakville is to reduce how often you drive to Toronto. Consider carpooling or public transit to save money on insurance and gas if you commute daily.
Insurance companies use your street address and postal code to calculate how much you pay for insurance. Living in Oakville neighbourhoods with the lowest crime rates and farther from busy roads like those surrounding the QEW and Oakville Place can help you save.
No matter where you live in Oakville, you can lower your insurance premium by:
- Driving a safe, practical vehicle.
- Maintaining a good driving record and encouraging other drivers covered under your policy to do the same. For example, you could save up to 30% on insuring a new driver if they pass a government-approved driver training course.
- Bundling home and auto insurance with the same insurer.
- Before your current policy automatically renews, get a free quote from an insurance broker to find out if you can save with a policy from one of the companies they represent. You can start here.
Learn more about how to save on car insurance in Ontario.
What factors determine my car insurance quotes in Oakville?
In addition to broad factors like city and neighbourhood, individual factors play an essential role in how much Oakville residents pay for auto insurance.
For example, with an average age of 39.7, Oakville locals are more likely to be experienced drivers. Years of experience combined with a history of at-fault accident-free driving makes you an attractive customer to insurers.
Here are other crucial factors that determine the price of your car insurance in Oakville:
- The age, make, and model of your vehicle. Vehicles prone to theft or that would be expensive to replace also tend to be more costly to insure.
- Your gender, young male drivers are more likely to be involved in accidents. They pay more for insurance until other factors like age and safe driving experience are more prominent in determining premiums.
- Driving habits: For example, if you only drive short distances for leisure trips, you can save more than if you commute long distances to work regularly.
- Your insurance company and the specifics of your policy: You want to choose an insurer that offers you competitive rates, but it’s also vital that you secure enough coverage. While it might not make financial sense to insure an older vehicle for replacement, that coverage is generally worthwhile for a more valuable/brand new ride.
Learn more about these factors here.
We also recommend purchasing enough liability insurance to protect you if a driver in your family faces legal challenges after an at-fault accident. You can speak with one of our expert brokers to determine how much coverage is best for you.
Sources about Oakville:
- Stats Canada, 2016 Census Profile, Oakville
- Ministry of Transportation, 2016 Road Safety Report
- Oakville News, “Lowest Crime Severity Index in Canada is Halton”
- Oakville.ca, “Kerr Street Underpass Project”
- In Halton, “Oakville and Burlington Among the Worst Places to Take Your Driving Test in Ontario”
- Google Maps, Ontario DriveTest Failure Rates by City
- Halton Police Crime Map on CrimeReports.com
Source for average insurance rates by city:
- Survey of 2,800 auto insurance policy holders in Ontario
Google Rating: 4.8
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