Best Car Insurance Companies in Canada in 2023

Best Car Insurance Companies in Canada – Drivers in Canada, where there are nearly 40 million registered vehicles, are required by law to have auto insurance, according to the most recent Statistics Canada (StatCan) numbers. However, with so many possibilities from various providers, choosing the correct insurance that meets their varying needs becomes a difficult task.

Choosing less expensive coverage is frequently appealing. However, drivers risk losing even more, especially if the coverage provided by such plans is insufficient. To get the most out of their vehicle insurance, Canadian drivers must first understand their options and the level of coverage provided by the various types of policies. In this article, we will explore some of the top car insurance companies in Canada that are known for their reliable service and positive customer reviews.

8 Best Car Insurance Companies in Canada

The following are the best car insurance companies in Canada:

1. Intact Insurance

Intact Insurance is one of the leading car insurance providers in Canada, known for its comprehensive coverage options and excellent customer service. With a strong presence across the country, Intact offers various policy options tailored to individual needs, including collision, comprehensive, and liability coverage. Their quick claims handling and reliable customer support have earned them a positive reputation among Canadian drivers.

2. TD Insurance

TD Insurance, a subsidiary of TD Bank Group, is a popular choice for car insurance in Canada. They offer a wide range of coverage options and competitive pricing, making them a preferred option for many drivers. TD Insurance provides comprehensive coverage, accident benefits, and optional endorsements to enhance policy protection. Their user-friendly online platform and efficient claims process contribute to a satisfying customer experience.

3. Desjardins Insurance

Desjardins Insurance is known for its customer-centric approach and customizable coverage options. They offer a variety of policies, including collision, comprehensive, and liability coverage, with additional options like rental car coverage and accident forgiveness. Desjardins Insurance has an extensive network of agents across Canada, ensuring personalized service and support. Their commitment to customer satisfaction and prompt claims handling sets them apart in the car insurance industry.

4. Aviva Canada

Aviva Canada is a trusted name in the insurance industry, offering a wide range of coverage options and competitive pricing. They provide comprehensive policies that include accident benefits, liability coverage, and optional endorsements for added protection. Aviva Canada emphasizes convenience and ease of use, with an online platform that allows customers to manage policies and file claims quickly. Their focus on digital innovation and commitment to customer satisfaction makes them a top choice for car insurance in Canada.

5. The Co-operators

The Co-operators is a cooperative insurance provider that offers comprehensive coverage options with a strong emphasis on community and sustainability. They provide various policy options, including collision, comprehensive, and liability coverage, along with additional endorsements to customize coverage. The Co-operators’ commitment to social responsibility and their cooperative structure resonates with many Canadians. They have a reputation for personalized service and reliable claims handling.

6. Belairdirect

Belairdirect made the top five with a four-star total rating. Insurance rated Belairdirect.com as the best choice for drivers of Uber and motorists having little mileage, giving it five stars for financial strength and four stars for customer service, pricing, discounts, and optional coverages. In JD Power’s research, it received four stars in Canada and two stars in Quebec for its client service department. Belairdirect is an Intact Insurance company that has been providing vehicle and home insurance solutions for over 65 years.

7. RSA Group

RSA Group has a Carsurance rating of four stars overall. It also scored four stars for customer service, financial strength, discounts, and optional coverages, as well as three stars for costs. It was praised for its extra features, like reward miles for frequent premium payments. The JD Power study does not include it, although it has an “A+” rating from the Better Business Bureau and an “A” rating by AM Best. RSA, like Economical, only offers rates through insurance brokers.

8. Sonnet

Sonnet is a wholly online insurance firm providing a quick quote tool, plain-language policies, and a website with helpful information and studies. Liability, accident benefits, and broad, or collision insurance are all required. Meanwhile, its optional motor insurance coverage includes accident forgiveness, ticket forgiveness, a rental extension package, and a vroom service package.

How does car insurance work in Canada?

Drivers in the country must have auto insurance in order to operate a vehicle. It is a legal requirement in all provinces and territories. Driving without one can result in significant fines and may jeopardize future eligibility for coverage. However, each province and territory has its own car insurance system, resulting in various levels of protection and premiums.

Best Car Insurance Companies in Canada

The Insurance Corporation of British Columbia (ICBC) and Manitoba Public Insurance, both controlled by the government, are responsible for regulating auto insurance for residents of British Columbia and Manitoba. Although Saskatoon State Insurance (SGI), a Crown organization, manages the state’s auto insurance market, drivers can also obtain extra protection from independent insurance companies.

How much does car insurance cost in Canada?

According to the latest and most recent data from the Insurance Agency of Canada (IBC), the table below indicates the amount that motorists pay in annual car rates in each province, beginning with the most expensive. A motorist’s age, gender, drive past, the type of vehicle they drive, and the level of coverage they select are all factors that influence how much auto insurance premiums cost across the country.

Province/Territory Average annual premiums
British Columbia $1,832
Ontario $1,528
Alberta $1,316
Saskatchewan $1,235
Newfoundland and Labrador $1,168
Manitoba $1,140
Nova Scotia $891
New Brunswick $867
Prince Edward Island $816
Québec $717

Recap of The 8 Best Car Insurance Companies in Canada

  1. Intact Insurance
  2. TD Insurance
  3. Desjardins Insurance
  4. Aviva Canada
  5. The Co-operators
  6. Belairdirect
  7. RSA Group
  8. Sonnet

Frequently Asked Questions (FAQs)

How to find the best car insurance in Canada?

Shop around – To ensure you’re getting the best available rate, use a comparison site such as rates.ca or ratehub.ca. There, you may compare rates from various reputable vehicle insurance providers and choose the best one for you.

How much is car insurance in Canada on average?

Based on industry data, Canadian drivers pay an average of $1,300 to $1,800 in vehicle insurance premiums per year. However, depending on where you live, the amount you spend may vary much greater and cheaper.

What does car insurance cover in Canada?

  1. Third-Party Liability Coverage
  2. Accident Benefits Coverage
  3. Collision Coverage
  4. Comprehensive Coverage
  5. Uninsured/Underinsured Motorist Coverage
  6. Optional Coverage

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