Car insurance Mississauga

You are likely in the process of buying a new car, recently bought a new car, or looking at getting a different car insurance policy in the Mississauga area. Car insurance is mandatory for all vehicles in Ontario. We have some of Canada’s strictest insurance regulations and most expensive insurance premiums compared to other provinces.

By law, all vehicles registered in Mississauga must carry at a minimum mandatory car insurance coverage of:

  • Third-party liability coverage of a minimum of $200,000.
  • Accident benefits to recover from collision injuries.
  • Uninsured motorist coverage of minimum $200,000 for accidents by an uninsured driver.
  • Direct compensation coverage for damages if someone else is at fault.

Drivers purchasing car insurance in Mississauga can also choose among the optional insurance coverage available, which includes:

  • Collision insurance coverage.
  • Comprehensive car insurance coverage.
  • All perils.
  • Specified perils.

Best Car Insurance Rates in Mississauga

Finding the right car insurance rate is important. After all, owning a car and purchasing car insurance is a long-term and pricey commitment. When searching for the best car insurance rates in Mississauga, it’s important to look at a balance between your budget and coverage needs. You don’t want to break the bank and pay more than you can afford, but you also don’t want to cheap out on coverage.

Insurance rates and regulations are monitored by the Financial Services Regulatory Authority of Ontario (FSRAO), but there are tons of tools you can use to find the best car insurance rate that fits your driving needs and budget.

Some of the factors that can affect your car insurance rate include:

  • Vehicle make, model, and year.
  • Your age and whether you are a new driver.
  • The claims and accident history in Mississauga.
  • Your driving and insurance history.
  • How much mileage you drive each year.
  • The purpose of your vehicle – i.e., pleasure or business.
  • Coverage amount.
  • Type of car insurance you buy – i.e., collectors car insurance, high risk car insurance, commercial car insurance, etc.

Using a tool like Insurance Hero can help you compare different car insurance rates in Mississauga. We will help you shop for the best car insurance rates from over 12 insurance companies. All you have to do is enter your information, and we will find the best car insurance rates and policies for you to choose from, so you can make an informed and confident decision.

Choose the Right Mississauga Car Insurance Coverage for Your Driving Needs

You want a car insurance policy that offers both affordability and protection. Especially since car insurance policies are usually in six-month or one-year terms, you really want to make sure you have the right one for you.

Do thorough research into different car insurance companies and insurance policies available in the market. Insurance companies will offer varying terms and conditions and policy rates, so you should discuss with them what you are looking for and your options before making a decision.

Look at your specific driving needs and the type of car insurance you are buying. If you have a collector’s car or are a high risk driver, you might have to purchase a different car insurance policy to ensure you get the right coverage for your vehicle. If you drive a lot throughout the year and use your car as a commuting vehicle, you might also want to have higher insurance coverage compared to someone who doesn’t use as much mileage.

It’s also important to set the right deductible and look for ways to get car insurance discounts. A higher deductible will reduce your premium, but you will have to pay more out of pocket in the event of an accident. If you have a clean driving record and haven’t had any accidents, you may want to consider opting for a higher deductible to reduce the money spent on your insurance premium each month.

Insurance companies will offer discounts for bundling several insurance policies, insuring multiple vehicles, being a safe driver, being a senior driver, taking defensive driving lessons, and more. They may also offer special discounts for long-time customers. Research the different discounts available to see how you can save money and get more value from your car insurance.

Commonly Asked Questions About Car Insurance

How much is car insurance in Mississauga?

The average cost of car insurance in Mississauga is $2,086 per year. That’s more than $400 each year on auto insurance than the average Ontario driver. Mississauga has a population of over 800,000. As a big city, drivers are more likely to experience accidents, making Mississauga residents more risky to insure. Mississauga is also surrounded by some of the busiest highways in Ontario. As a result, car insurance rates in Mississauga are significantly higher than other small towns.

How much is car insurance in Mississauga per month?

Monthly car insurance premiums for Mississauga drivers is on average $174 per month. Again, as a busy city surrounded by lots of traffic and congested highways, drivers in Mississauga are more likely to encounter a car accident and need an insurance claim.

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Is car insurance cheaper in Mississauga than Toronto?

It’s estimated that Mississauga has the fifth highest car insurance rates in Ontario at roughly 50% more expensive than Ontario’s average. On the other hand, Toronto drivers have the eighth highest car insurance rates at roughly 34% more expensive than Ontario’s average.

While Toronto is also a large and busy city that welcomes a lot of commuters, public transportation infrastructure helps residents get places relatively conveniently. However, for the suburbs like Mississauga, a car is almost essential to go anywhere, like the grocery store.

Is car insurance mandatory in Mississauga?

Car insurance is mandatory across Ontario. When you buy a car from the dealer, you’ll need proof of car insurance before driving it off the lot. Car insurance can help you and your family in the case of a car accident. Third-party liability coverage, accident benefits, uninsured motorist coverage, and direct compensation coverage is required.