Car Insurance in Mississauga, Ontario
Affordable Car Insurance – Mississauga
Driving in Mississauga can be a breeze because of the well-maintained roads and highways. However, those long highways pose a daily risk with the increasing rates of reckless driving and car accidents. With car insurance, Mississauga drivers can navigate the roads without worrying about the high cost of getting in a car accident. Car insurance is mandatory in Canada, and it’s all the financial protection you need for you and your car. On this page, we will take you on a ride explaining everything related to car insurance in Mississauga.
Get Mississauga Car Insurance Quotes now!
Why Acumen Insurance for Car Insurance in Mississauga
- We follow a client-first approach. We go the extra mile for our clients, providing personalized service and support throughout the insurance and claims process. We’re fully dedicated to customer satisfaction.
- With decades of experience Mississauga Car Insurance, Acumen’s brokers understand the unique driving conditions and insurance requirements in Ontario. We make sure you get relevant and comprehensive coverage.
- Beyond helping you find a good insurance policy; we are committed to educating you about all things insurance. Our team of experienced brokers offers insights and specialized advice. We want to empower you to make informed decisions about your car insurance.
Is it mandatory to have car insurance in Mississauga?
All across Canada, auto insurance is required for all drivers. The state of Canada wants to make sure that all drivers, passengers, cyclists, and pedestrians are protected, as car insurance covers medical and legal bills in case of an accident. Moreover, car insurance encourages accountability and responsible driving. It ensures all Ontario drivers are financially held accountable for their driving behaviour. Below are the penalties for driving without insurance.
The Penalties for Driving Without Car Insurance in Mississauga
- Fines: First-offense penalties may range between $5000 and $25,000. Second- and subsequent offences may result in fines of up to $50,000.
- License Suspension: Your driver’s license may get suspended for up to 1 year.
- Vehicle Impoundment: Your vehicle may get impounded for up to three months.
- Additional Fees: You may have to pay extra fees, like a 25% victim fine surcharge added to your fine.
What is the Mandatory Required Car Insurance in Mississauga?
- Third-Party Liability Coverage
1- All drivers are required to hold a minimum of $200,000 in liability coverage.
2- Third-party liability covers medical expenses and legal fees in case of bodily injury or property damage.
- Accident Benefits Coverage
1- Statuary accident benefits cover you when you’re involved in an accident, and the other driver is at fault.
2- It goes beyond the coverage provided by the Ontario Health Insurance Plan (OHIP).
- Direct Compensation – Property Damage (DCPD)
1- DCPD is added by default to standard car insurance policies. However, as of 2024, you can remove it to get a cheaper premium.
2- It covers repair costs for damage to your car if the other driver is at fault.
- Uninsured Motorist Coverage
1- This covers your medical expenses if you’re injured or killed in an accident with an uninsured driver.
2- It also covers you if the other driver is unidentified in a hit-and-run.
What Are the Optional Coverages for Auto Insurance in Mississauga?
- Comprehensive Coverage: Another optional coverage that pays for the repair costs if your car is damaged in a non-collision accident. That may involve weather events, theft, vandalism, fire, earthquake, falling objects, or animal attacks. Comprehensive coverage is optional but if you want to lease your car, some auto lenders may require it.
- Collision Coverage: This is an optional coverage that covers the repair costs if the car gets damaged in a collision with an object or another car. Note that if you’re partially or fully at fault, DCPD won’t cover the repair costs, and you will need collision coverage for the insurance company to help.
- All-Perils: If you want an all-in-one solution, All Perils is a recommended choice. This coverage contains all potential risks, including comprehensive and collision coverage, except for perils excluded in the policy. The policy may exclude earthquake coverage, for example. It’s the costliest option but it provides the most protection.
- Specified Perils: With specified perils coverage, you list the perils you want to be covered for. If it’s not included on the list, it’s not coverage you have. For instance, if the list includes water damage and theft only, it means you’re not covered for fire. It’s a low-cost option, albeit limited.
Car Insurance in Mississauga OPCF Endorsements
What are OPCF Endorsements?
Ontario Policy Change Forms is an optional provision that allows you to alter your Mississauga insurance policy, adding, reducing, or changing the amount of coverage you have. Below are the most common OPCFs.
OPCF 20: Coverage for Transportation Replacement
Transportation replacement, known as OPCF 20, pays for the cost of getting a rental car or hiring a taxi to move around while your car is being replaced. OPCF 20 is generally more cost-effective than rental car insurance.
OPCF 27: Liability for Damage to Non-Owned Automobile(s)
Often referred to as “Legal Liability for Damage to Non-Owned Automobiles,” OCPF 27 extends your personal auto insurance to cover rented or borrowed vehicles. If you rent a car in Canada or the U.S., this endorsement may cover physical damage. It saves you from having to buy extra rental vehicle insurance.
OPCF 39: Accident Waiver/Accident Forgiveness
Accident Waiver/Forgiveness OPCF keeps your driving record clean if it’s your first time being at fault in an accident. So, as long as you remain with the same insurance provider, your insurance premium will not increase. If you switch to another provider, your Mississauga car insurance rates may increase because of the accident.
OPCF 43/43A:
If you’re the first owner of the vehicle and you carry full insurance, you’re eligible to get OPCF 43/43A. Also known as Remove Depreciation Deduction, this endorsement will ensure you get the full replacement cost of your car without deducting the depreciation value if it’s completely damaged. You can opt for this endorsement to last for 24 to 60 months. It’s useful for new car owners, as a vehicle loses part of its value as soon as it’s on the road.
OPCF 44R: Family Protection Coverage
OPCF 44R, known as the Family Protection Coverage endorsement, is an optional addition to your car insurance policy in Mississauga. It enhances the financial protection for you and your eligible family members if you’re involved in an accident where the at-fault driver is uninsured, underinsured, or unidentified (such as in a hit-and-run).
Get an online free quote now!
What Are Mississauga Car Insurance Rates?
Average Mississauga car insurance premiums is $3,427.28 per Year. The numbers differ from one person to another based on many factors, like the driver’s age, gender, and location, as well as the car’s make and model. Below we take a closer look at the factors that affect premiums.
Get a QuoteWhat Factors Affect Your Mississauga Car Insurance Premium?
Location
The average car insurance cost differs significantly from one city to another. For example, the average car insurance costs in Ontario is $2,590.53. However, no two cities have the same average. In Mississauga, the average annual insurance premium costs is around $3,427.28 , but in a smaller city like Barrie, it costs around $2,785.04 per year.
Age
Age is another important cost factor. Drivers aged 18-25 will get the highest car insurance rates, as they’re less mature and more likely to be involved in reckless driving activities. From the age of 25-50, drivers are more seasoned and mature, and they get lower rates. From the age of 50, drivers get an even lower insurance rate, as their years of driving make them less likely to get involved in accidents.
- A driver aged 18-25 may pay a monthly premium of $448.85 in Mississauga.
- A driver aged 25-50 may pay a monthly premium of $333.61 in Mississauga.
- A driver aged 50+ may pay a monthly premium of $276.28 in Mississauga.
Gender
Statistically, women get in fewer accidents than men. So, men have to pay higher premiums. A woman in Mississauga pays a monthly premium of $313.94 . A man on the other hand pays an average of $319.31 per month.
Car Model
The car you drive affects the premium you pay. It depends on the repair and replacement costs of the car. Here are some examples of an estimated average.
- A Ford costs $3,767.23 per year.
- A Toyota costs $3,787.08 per year.
- A Honda costs $3,772.67 per year.
- A BMW costs $4,718.21 per year.
- An Audi costs $4,662.86 per year.
Other factors that impact Car Insurance Rates in Mississauga:
Driving record
Your driving history highly impacts your Mississauga car insurance rates. If you have a clean driving record, you may get a lower rate. On the other hand, your traffic violations in the past 3 years may get you a higher rate. Traffic violations include tickets, accidents, suspensions, and cancellations.
Coverage limits
Naturally, the more coverage you add to your policy, the higher the premium is. You can get a lower rate if you remove some of the coverages, even though it reduces the protection you get. We recommend working with an insurance broker to tailor the car insurance policy to your exact needs.
Mileage
Mileage is also taken into account when calculating your car insurance rates. Drivers who don’t use their cars much get a discounted rate. Car insurance companies consider that the more you drive, the more likely you are to get in an accident.
Claims History
Car insurance providers use statistics to determine risk factors when calculating premiums. And some statistics say that an individual who has filed claims before is more likely to file claims again. That’s why your claims history can increase your insurance rates if you have previous claims.
How to Get a Student Car Insurance Discount
- Maintain good grades
- Take a driving course.
- Enroll in usage-based driving.
- Add an experienced driver to your policy.
How Does Mississauga Compare to Other Cities in Ontario?
Mississauga car insurance premiums are one of the highest in Ontario. Let’s take a look at the car insurance rates in Ontario cities. As you can notice, Toronto is the only one mentioned that is higher than Mississauga, because it’s the most populated.
Here is a comparison to other cities in Ontario:
- Mississauga: $3,424.88 per year
- Toronto: $3,208.8 per year
- Vaughan: $3,751.54 per year
- Milton: $2,887.32 per year
- Burlington: $2,386.75 per year
- Ottawa: $2,267.87 per year
Why Is Auto Insurance Expensive in Mississauga?
- Traffic Density: Mississauga is a major urban center, which means it experiences heavy traffic, increasing the likelihood of accidents and claims.
- Insurance Fraud: The city has previously faced issues with auto insurance fraud, leading to higher premiums for drivers.
- Theft Rates: Vehicle theft and vandalism are common in Mississauga. So, insurance companies increase premiums to ensure profitability.
What are the Risks That Mississauga Drivers Face?
- Natural disasters: Storms and flooding incidents have occurred in Mississauga before. A great example is the 2013 flood that resulted in great losses and severe property damage.
- Traffic congestion: Mississauga has a dense population with traffic that is often congested. This leads to a high number of accidents and claims.
- High collision rates: The city has a notable collision claim rate of 6.7% which has risen by %7 since 2015.
- Fraud: All policyholders in the area suffer from an increasing insurance rate because of the alarming fraud rates.
- Vehicle theft: There has been a rise in vehicle theft and vandalism, which also increased the insurance rates.
- Urban infrastructure: The city contains major transportation hubs, including the second biggest airport in Canada, which leads to increased vehicle usage and potential for accidents.
How to Get Cheapest Car Insurance Premiums in Mississauga?
Here are our top tips on how to get the cheapest auto insurance premiums in Mississauga.
- Shop around for deals: By comparing car insurance quotes, you can guarantee getting the best price while having the protection you need. Remember, car insurance companies calculate rates differently.
- Look for car insurance discounts: Ask for ways to save money and get the cheapest car insurance. Our insurance brokers or the insurance provider would be happy to help.
- Choose a safer vehicle: Vehicles with strong safety ratings don’t get easily damaged, so they have lower insurance rates.
- Bundle policies: When you bundle home insurance with car insurance, you get a discounted rate than when you purchase separate policies.
- Use Telematics: Telematics technology monitors your mileage and driving habits. Using the technology gets you a discount, and it provides proof that you drive less than the average Ontario driver, potentially lowering your rate more.
- Install winter tires: Winter tires installation can save you up to %5.
- Pay a higher deductible: A higher deductible decreases your premium rate.
High-Risk Drivers Car Insurance in Mississauga
High-risk drivers are ones that insurance companies consider risky to insure and are more likely to file insurance claims. These drivers face a lot of difficulty in getting affordable Mississauga car insurance. In many cases, they may have to find a car insurance provider that offers high-risk car insurance, like Jevco. In other cases, where they may have been rejected by multiple insurance companies, they resort to the Facility Association—a collective of insurers operating in Ontario- for more costly car insurance.
Insurance companies in Mississauga classify a driver as “high-risk” based on factors indicating a higher likelihood of filing claims. Key factors include:
- The driving record has multiple traffic violations, at-fault accidents, and DUIs.
- The driver shows a pattern of reckless driving, like multiple speeding tickets.
- The driver has a long insurance lapse.
- The driver is very young and experienced or elderly.
How to Get Cheap Car Insurance in Mississauga as a High-Risk Driver
To get a cheaper insurance premium as a high-risk driver, you should follow safety protocols moving forward to avoid further violations. You could also use telematics for the company to monitor your driving habits and see that you drive safely. Another suggestion is to install winter tires and anti-theft devices to decrease the probability of filing more claims that may increase your Mississauga car insurance rates.
How to File a Car Insurance Claim in Mississauga?
- Ensure Safety and Report the Accident:
- Immediate Safety: Check for injuries and move to a safe location if possible.
- Call 911: If there are injuries, over $2,000 damage or a criminal act (e.g. impaired driving).
- Collision Reporting Centre: For minor accidents with no injuries and under $2,000 damage, report to a local Collision Reporting Centre within 24 hours.
- Collect Information:
- Other Parties: Get names, contact information, driver’s license numbers, license plate numbers and insurance info from all other drivers.
- Witnesses: Get contact information from the witnesses.
- Documentation: Take photos of the scene, vehicle damage and any relevant road conditions.
- Notify Your Insurance Company:
- Timely: Tell your insurer as soon as possible, ideally within 7 days.
- Provide Details: Share all collected information and documentation with your insurance representative.
- Fill Out Forms:
- Proof of Loss: Fill out any forms provided by your insurer to detail the damage and circumstances.
- Vehicle Inspection and Repairs:
- Damage Appraisal: Your insurer may require an appraisal of the vehicle damage.
- Approved Repair Shops: Use repair shops recommended or approved by your insurer to be covered.
- Know Your Coverage:
- Deductibles: Know your policy’s deductible amount and the amount you’ll pay out of pocket.
- Rental Vehicles: If your policy has rental coverage, your insurer can help arrange a rental car during repairs.
- Follow Up:
- Claim Status: Stay in touch with your adjuster to stay updated on your claim.
- File: Save all correspondence and documents
Car Insurance in Mississauga - FAQs
As of 2024, car insurance in Mississauga start on an average of $3,427.28 . This is just an estimated number, as each driver gets different car insurance rates, depending on the insurance company, their location, driving record, age, gender, and more factors.
Getting car insurance quotes is easy with Acumen Insurance. All you have to do is fill out the online form to get estimated quotes from the top insurance companies in Ontario. Another way to get a quote is by contacting us and talking to an insurance broker about your needs. They will be happy to find you a great deal.
We have a few recommendations to help you get affordable auto insurance in Mississauga:
- Compare car insurance quotes before making a choice.
- Ask about discounts to see if you’re eligible for one.
- Join the usage-based insurance program (UBI).
- Pay a higher deductible.
Install winter tires.
The insurance rates are higher in Mississauga because of high fraud rates, increasing car theft and vandalism incidents, and high traffic congestion.
Mississauga car insurance is expensive because of many factors, like high traffic density, claim rates, vehicle theft and vandalism rates, and high repair and medical costs.
Areas We Serve
Explore the regions where we provide exceptional insurance services.