Car insurance rates in Mississauga
Located in Ontario, one of the most expensive provinces in the country when it comes to car insurance, insurance premiums in Mississauga definitely aren’t cheap. In fact, the average cost of car insurance in Mississauga is $3,511 per year, which is a whopping 43 percent higher than the provincial average of $1505. As you can see, car insurance rates can vary in cost significantly. Since there is no way around having to purchase car insurance in Mississauga, it is essential that you compare car insurance quotes online before choosing a policy. At Complete Car, we can help you do just that. If you’re in the market for a new car insurance policy, or are looking to save money on your existing policy, let us help you! With so many insurance companies to sift through, we can match your needs with suitable, affordable coverage, and the best part is, we do it all for free!
Is car insurance mandatory in Mississauga?
Yes, every driver in Mississauga is required to have a valid car insurance policy. Falling under Ontario’s legislation, it is mandatory for drivers in Mississauga to have the following insurance coverage:
In Mississauga, drivers are responsible for purchasing a minimum of $200,000 in third-party liability insurance. This will provide coverage in the event that you’re sued for personal injury or property damage resulting from an at-fault accident.
On top of third party liability, drivers in Mississauga need to have a minimum of $50,000 in accident benefits. Should you be injured in an accident, this will cover any related expenses while you recover.
As the name suggests, this provides insurance coverage to drivers in Mississauga should they experience a personal injury or property damage caused by an uninsured driver or a hit-and-run.
Should another driver damage your car in an accident, DCPD will protect you from having a large out-of-pocket expense.
As it is always better to be safe than sorry, many drivers choose to purchase greater coverage beyond the minimum requirements. For example, it is very common for Mississauga drivers to add collision or comprehensive coverage to their car insurance policy for extra protection.
Covers the cost of replacing or repairing your car if it’s involved in a collision. As this is optional, collision coverage will add an additional amount to your premium.
Comprehensive insurance will offer financial protection in the event that your vehicle is damaged by anything other than a collision, whether fire, theft, vandalism, falling objects, or otherwise.
You can specify certain risks that you would like protection from such as theft, fire, vandalism, and more.
For those who want maximum protection, you can choose to add all perils to your policy. This will keep you protected from all of the above.
What impacts my car insurance rates in Mississauga?
The type of car you drive: As you may have heard before, the type of car you drive will impact your insurance rates. Mississauga insurance brokers will consider many factors related to your vehicle, including the original sticker price, repair costs, safety ratings, and the model’s claims history.
Your driving record: Insurance companies favour those in Mississauga who maintain a clean record. They see drivers with a clean driving record to have a lower likelihood of filing an insurance claim. Alternatively, those with a number of traffic convictions on their record are likely to be faced with higher insurance premiums.
Your mileage: The amount of mileage you put on your vehicle directly impacts your insurance rates. The more time you spend in your car, the more kilometers you accumulate, and the higher your chance is of being in an accident. On the other hand, those who only use their cars occasionally will have lower insurance premiums. You can likely lower the amount you spend on insurance by choosing to take public transit for your daily commute.
Your age: Whether you’re an excellent driver or not, young drivers are given high insurance premiums. Their lack of experience makes them a higher risk on the road and as a result, insurers will give you high rates. Taking a driver’s education course can help you save. As long as you keep a clean record, you can expect rates to decrease as you become more experienced, usually after 6-10 years of driving.
Your claims history: As you may be able to assume, the more claims you file, the more you will pay in insurance. It’s as simple as that.
Your postal code: While your insurance rates vary based on your province and city, they will also fluctuate right down to your postal code. The reason for this is that some areas will have higher collision and claim rates than others. With over 400 postal codes in Mississauga, there is plenty of room for variety!
The postal code with the cheapest insurance in Mississauga is Lorne Park and Port Credit (L5H) at $2,644 per year. The postal code with the most expensive insurance in Mississauga is Meadowvale (L5W), sitting at an average of $3,938 per year.
How do I get the cheapest car insurance in Mississauga?
Buying car insurance doesn’t need to be scary! Every Mississauga insurance broker is competing for your business and will do their best to offer you an attractive quote. Whether you’re a new driver looking for the cheapest insurance possible or are looking to find a better deal than what you’re currently paying, it’s never a bad idea to shop around and compare car insurance quotes online. At Complete Car, we can’t wait to help you find the best insurance policy suited for your needs.
By allowing your insurance company to monitor your driving skills including your speed, your breaking habits, and how you navigate turns, you can save up to 25 percent on your insurance policy.
Even if you have an existing insurance policy, there are several instances where you may be able to lower your premium. For example, you should always shop around and compare car insurance quotes online when you’re up for renewal, you change cars, your address changes, or you enter a new age threshold. These are all factors that impact insurance rates and you never know when you might get lucky with savings!
Those who keep a clean driving record will be rewarded by insurance companies with cheaper premiums. The reason for this is that insurance companies deem responsible drivers as low-risk and will be less likely to file a claim. Not only does responsible driving keep you safe and accident free, it also helps you save!
Generally speaking, the higher your deductible, the lower your premium will be. Before deciding on your deductible, be sure to consider how much you will be comfortable paying out-of-pocket in the event that you need to file a claim.
A large majority of insurance providers will reward their loyal customers with cheaper rates. For example, if you bundle your home insurance and auto insurance policies with the same provider, you can get easy savings. To save even more, if there are multiple drivers in your household, it pays to include them all on the same policy.
New drivers will benefit financially from taking a driver’s education course. Not only will you learn how to be a better driver, you will also benefit from lower premiums. This is especially significant as younger drivers are commonly faced with high premiums to begin with.
While it’s common for drivers to want to have extra protection as a precaution, you don’t want to end up spending way more money than you need to. On the other hand, purchasing the minimum coverage requirements only provide a thin layer of protection. Luckily, at Complete Car, we can work with you to understand your coverage needs and match you with a policy that provides no more and no less.
There are many simple ways to take advantage of discounts offered from car insurance providers. For example, a common discount is given to drivers who install winter tires or an anti-theft device. Make sure to ask what’s available if the discounts aren’t clearly stated.
Tips for driving in Mississauga
It’s no surprise that the roads in Mississauga can become heavily congested and accident-prone. As a result, we have put together a few tips for driving in Mississauga to make sure that you stay claim-free!
- Make sure that you always come to a full stop at pedestrian crossovers and school crossings. Should a pedestrian be present, drivers must be fully stopped and let them completely cross before advancing. This is one small action that can end up costing you big. If you break this law, you are looking at a fine of anywhere from $150 to $500 and three demerit points. Should you be in a school or community safety zone, the penalties double.
- Don’t speed. While following the speed limit is one of the most common rules of the road, many drivers get caught speeding and end up with otherwise avoidable fines. Many neighbourhoods in Mississauga have lowered their speed limits to 40km/ hr.
- Be aware of cyclists. Drivers share the road with several cyclists and need to be careful of their surroundings. While there are definitely more bikers in Toronto, cyclists are on the rise in Mississauga and need to be looked out for! This is especially important in peak months including July and August.
Why is car insurance in Mississauga so expensive?
Mississauga has a population of almost one million people, and many of these individuals are also drivers. What does this mean? More cars on the road leading to the increased chances of an accident or theft. This combination results in a higher frequency of insurance claims, raising insurance premiums for drivers in this city.
Being part of the GTA, Mississauga has major highways passing through the city, providing drivers with an easy commute to Toronto, and all other cities within the GTA. Whether Highway 401, Highway 403, QEW, or Highway 407, high traffic volumes are no strangers to Mississauga drivers. Other busy roads in Mississauga include Lakeshore Road, Eglinton Avenue, Hurontario Street, Winston Churchill Boulevard, Britannia Road and Mississauga Road. There are so many vehicles on the road daily including commuters and visitors, creating plenty of opportunity for accidents.
How does Mississauga car insurance compare to other cities in Ontario?
While car insurance in Mississauga is quite expensive on average, it is actually on the cheaper side when compared to other cities in the GTA.
Below we have ranked the six most expensive areas in the GTA when it comes to auto insurance.
- North York