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Cheapest Cars to Insure in Ontario

Purchasing a new vehicle is such an exciting event. However, there are several things to consider before you make your final choice on which vehicle will best suit your personal needs and budget needs. 

Many Ontarians are cost-conscious and environmentally friendly. Typically, many people focus on fuel-efficiency, reducing their carbon footprint, and high safety ratings when shopping for a new vehicle. 

Buyers must also be aware that the particular vehicle you decide to purchase can also affect your overall auto insurance costs. Automobile insurance is mandatory in the province of Ontario.

Not only is it paramount for safety reasons to research models with the highest safety ratings, but insurance companies also take this into consideration when providing car insurance quotes. 

Another factor people tend to take into consideration when shopping for a vehicle is the popularity of the vehicle. However, keep in mind just because a vehicle has a high sales rating, doesn’t mean it will be the cheapest vehicle to insure. 

Ranking The Cheapest Vehicles in Ontario to Insure

Stars Rating

There are several ways to research what the cheapest vehicles are to insure in Canada. Some ways to rank includes:  

  • To rank the cheapest to insure relating to the most popular vehicles sold.
  • To rank the cheapest to insure with the highest safety ratings.
  • To rank the cheapest to insure by the cheapest economical priced vehicles.
  • To rank the cheapest vehicle to insure out of all vehicles. 

Ranking Cheapest Car Insurance Relating to The Highest Sales

If you look at the most popular vehicles according to sales, the top 10 list would look like this:

  • Toyota Rav4
  • Honda Civic
  • Honda CRV
  • Toyota Corolla
  • Hyundai Kona
  • Mazda CX-5
  • Hyundai Elantra
  • Hyundai Tucson
  • Kia Sorento
  • Kia Forte

However, this is not the same order the cheapest insurance would be for these vehicles. The order of cheapest insurance for these vehicles would look like this:

  • Kia Sorento
  • Mazda CX-5
  • Hyundai Tucson
  • Hyundai Kona
  • Toyota Corolla
  • Kia Forte
  • Honda CRV
  • Honda Civic
  • Hyundai Elantra
  • Toyota RAV4

The order of highest sales versus the order of cheapest vehicle insurance is very different. 

List of Safest Cars With Cheapest Car Insurance

car safety

There are several categories of vehicles pertaining to the best safety ratings. These include: 

  • Large SUVs
  • Midsize Vehicles
  • Midsize Luxury Vehicles
  • Midsize Luxury SUVs
  • Midsize SUVs
  • Small SUVs
  • Small Cars

Safe Midsize Vehicles With Cheapest Car Insurance

The following list pertains to midsize vehicles with the highest safety ratings.

  • Subaru Legacy
  • Mazda 6
  • Nissan Maxima
  • Subaru Outback
  • Toyota Camry

The following list shows where each of these is ranked on the Premium Scale.

  • Subaru Legacy – 2.4 – on the premium scale
  • Mazda 6 – 2.8 – on the premium scale
  • Nissan maxima – 3 – on the premium scale
  • Subaru Outback –  3.6 – on the premium scale
  • Toyota Camry – 8.6 – on the premium scale

Best Safety Ratings For Midsize SUVs

  • Subaru Ascent
  • Mazda CX-9

The premium scale for these two vehicles are as follows:

Subaru Ascent – 2.5 – on the premium scale

Mazda CX-9 – 7.2 – on the premium scale

This proves the vehicles with higher safety ratings, will be cheaper to insure. 

Rating The Cheapest Car Insurance By The Most Economically Priced Vehicles

The following is a list of vehicles in order of cheapest to more expensive purchase prices:

  • Chevrolet Spark LS
  • Nissan Micra
  • Mitsubishi Mirage
  • Hyundai Accent 5-Door
  • Kia Rio 5-Door
  • Toyota Yaris Hatchback
  • Hyundai Venue 
  • Hyundai Elantra
  • Kia Forte
  • Mazda 3 Sedan

The following is a ranking of the cheapest insurance for the cheapest purchase priced vehicles above:

  • Nissan Micra
  • Kia Rio 5-Door
  • Mitsubishi Mirage
  • Hyundai Accent 5-Door
  • Hyundai Venue
  • Toyota Yaris Hatchback
  • Chevrolet Spark LS
  • Kia Forte
  • Hyundai Elantra
  • Mazda 3 Sedan

List of Cheapest Vehicles To Insure in Ontario

Save Piggy Bank Money

The cheapest vehicles to insure overall are:

  • Nissan Micra
  • Volvo XC90
  • Kia Rio 5-Door
  • Mitsubishi Mirage
  • Kia Rio
  • Subaru Legacy
  • Subaru Ascent
  • Mazda 6
  • Mercedes-Benz GLE-Class
  • Genesis G80
  • Nissan Maxima
  • Hyundai Accent 5-Door
  • Cadillac XT6
  • Audi A6 4-Door
  • Genesis G90
  • Audi A6 All-Road-4-Door Wagon
  • Subaru Outback
  • Hyundai Nexo 
  • Honda Insight
  • Tesla Model 3
  • Audi E-Tron Sportback
  • Hyundai Venue
  • Lexus NX
  • Subaru Crosstrek
  • Subaru Forester
  • Toyota Yaris Hatchback
  • Kia Sorento
  • Mazda CX-3
  • Genesis G70
  • Mazda CX-5
  • Hyundai Kona
  • Chevrolet Spark
  • Toyota Corolla
  • Kia Forte
  • Honda CRV
  • Honda Civic
  • Hyundai Elantra
  • Toyota RAV4
  • Acura RDX
  • Toyota Camry
  • Mazda 3 Sedan
  • Mazda 3 Hatchback

Factors Other Than Make And Model Of Vehicle That Can Affect Insurance Premiums

There are many other factors that insurance companies take into consideration when they are determining insurance premiums. These factors may include:

  • Driving history and records of persons to be covered in the policy
  • Age and number of drivers on the policy
  • Your insurance history
  • The geographical area where you reside
  • Gender
  • Marital status
  • Distance driving to and from work
  • If you use your vehicle for business purposes as well
  • The frequency of claims on the particular make and model you have chosen
  • The insurance company you choose to purchase your policy with

Important Notes To Remember

There are some important things to remember regarding car insurance in Ontario. These include:

  • You must be honest and accurate with the information you provide to your insurance company.
  • Missing any insurance policy payments may void your policy.
  • The owner of the vehicle is responsible for all drivers of the vehicle, so it’s important to only allow licensed, responsible and competent drivers to drive your vehicle.
  • Advise your insurance company of any changes such as a change in residence, selling the vehicle and purchasing another one, adding or deleting additional drivers, and when you retire and no longer using your vehicle to travel to and from work. 
  • When changing insurance companies prior to your policy expiration date, you may be required to pay a penalty. 
  • Any accident involving injury or property damage must be reported to your insurance company within 7 days.

What An Automobile Insurance Policy in Ontario is Required to Include

The following coverages must be included in an automobile insurance policy in Ontario:

  • Third-Party Liability Coverage
  • Statutory Accident Benefits Coverage
  • Direct Compensation – Property Damage Coverage – Some conditions apply
  • Uninsured Automobile Coverage

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