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What is the Cheapest Car to Insure in Ontario? (2023)

The Cheapest Cars To Insure In Ontario In 2023 | KBD Insurance
Curtis Killen

As president of KBD, Curtis aims to simplify insurance for his clients. He’s helped lead KBD to become one of Canada’s fastest 400 growing companies according to the Globe & Mail.

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 Looking for the cheapest car to insure in Ontario? We were curious, so we did the digging for you. Here you can learn which car brands & models generally have the lowest insurance rates in Ontario – so that you can plan ahead.

Shopping for a new car and want to save as much as possible? 💸

As you probably know, the type of car you buy influences how expensive your car insurance is. 

So things like buying an older vehicle, choosing a reliable model and not making claims will help keep your car insurance costs as low as possible. 

But if you want to know exactly which car models are the cheapest to insure in Ontario – keep scrolling, we’ve got you covered.

Cheapest Cars To Insure In Ontario | KBD Insurance

OR, if you want to speak to an Ontario insurance broker directly, just give us a call

We’ll be happy to help.

Jump ahead to get to the good stuff:

What is the cheapest car to insure in Ontario?

So, you’re looking for the cheapest car to insure in Ontario? 👀

Unfortunately there isn’t always a clear-cut answer, because insurers change how they assess rates for different car models on a yearly basis. 

And when it comes to finding the cheapest car insurance in Ontario, there are several factors that will influence how much you pay. 

For example, here are a few guidelines you can follow when looking for cars that are low on insurance:

  1. Older Vehicles: Older vehicles often have lower insurance rates because of their lower market value.They can also be less expensive as the cost to repair or replace it is usually lower. 
  2. Family-Friendly Vehicles: Vehicles that are known for their safety features and are considered family-friendly, (ex: minivans or midsize SUVs) may have relatively lower insurance rates. These vehicles often have a lower risk profile in general. 
  3. Vehicles with Good Safety Ratings: Vehicles with good safety ratings and advanced safety features, including anti-lock brakes, airbags, and stability control systems, may qualify for lower insurance rates.
  4. Low-Theft Vehicles: Cars that are less prone to theft can benefit from lower insurance rates. This can include vehicles with effective anti-theft devices, such as alarm systems, tracking devices, or immobilizers.

As we covered, there are a bunch of factors that can affect the cost of your car insurance. 

So the best way to know how much car insurance will cost you is to get a quote. 

If you’re a driver based in Ontario, we can help with that.

Call us.

Which car brand has the cheapest insurance in Ontario?

Now, for the $1M question. 🤓

Which car brand has the cheapest auto insurance in Ontario?

Generally, car brands known for reliable, safe, and affordable vehicles tend to have lower insurance rates. Some of these brands include:

  • Honda: Honda vehicles are known for their reliability, good safety ratings, and affordable repair costs which contributes to lower insurance rates for Honda models.
  • Subaru: Subaru vehicles are popular for their safety features and excellent crash test ratings. Insurance companies may offer lower rates due to the brand’s emphasis on safety.
  • Toyota: Toyota has a reputation for producing reliable and fuel-efficient vehicles. Their models often have affordable repair costs, which can result in lower insurance premiums.
  • Ford: Ford vehicles, especially those in the mid-range or economy segment, are commonly associated with lower insurance rates. The availability of spare parts and reasonable repair costs contributes to this affordability.
  • Mazda: Mazda vehicles often have good safety ratings and lower theft rates, making them potentially less expensive to insure.

Remember: While these brands may generally have lower insurance rates, there can be variations within specific models and insurance providers. 

Now, let’s get into specific models. 👇

According to industry reports, here are 10 of the cheapest cars to insure in Ontario in 2023:

  1. Chevy Cruze 
  2. Chevy Spark 
  3. Toyota Corolla 
  4. Honda Civic 
  5. Mitsubishi Mirage 
  6. Mazda 3
  7. Nissan Sentra
  8. Jeep Wrangler
  9. Honda CR-V
  10. Toyota Prius

Remember: If you’re looking for cheap cars to insure in Ontario, a quote is the best way to get an accurate price based on the specific car that you’re interested in. 

Looking for cars with the lowest insurance rates? 

Need a quote?

Call us.

Which car has the most expensive insurance in Ontario?

So, which car has the priciest car insurance in Ontario? 🤔

Vehicles with high insurance rates are typically those with higher repair costs, higher risk profiles, and increased susceptibility to theft.

For example, luxury, exotic and high-performance vehicles tend to have higher insurance rates in Ontario.

These cars have higher repair and replacement costs, advanced technology and specialized parts that can be expensive to repair, plus a higher risk of theft or accidents. 

So, if you’re buying a luxury high-end vehicle, make sure to factor in the associated insurance costs to ensure it fits in your overall budget.

Are older cars cheaper to insure in Ontario?

In general, older cars are cheaper to insure in Ontario compared to newer vehicles. 

There are a few reasons for this:

  • Lower Market Value: Older cars are usually worth less than new models. Since insurance rates are based (in part) on the value of the vehicle, insuring an older car can be less expensive. The cost to repair or replace them is also generally lower. 
  • Lower Risk Profile: Older cars are often considered to have a lower risk profile thanks to lower horsepower, theft rate, and a decreased likelihood of being involved in high-speed accidents. So insurance rates tend to be lower as a result.
  • Reduced Need for Comprehensive Coverage: Comprehensive coverage protects against non-collision incidents such as theft, vandalism, and natural disasters. For older cars with lower market value, some owners choose to exclude comprehensive coverage, resulting in lower insurance costs.

Note: Some older cars lack the safety features of new models, which can affect insurance rates. Features like anti-lock brakes, airbags, and electronic stability control can lead to lower premiums as they reduce the risk of accidents and injuries.

Need car insurance in Ontario?

Call us.

Does a cheap car mean cheap insurance in Ontario?

To that note, does an older, cheap car automatically = cheap car insurance? 

Not exactly, but it can help. 

While cheaper cars can sometimes lead to lower insurance premiums, it’s not always the case.

Some factors to consider regarding insurance costs for cheap cars:

  • Safety Features: Vehicles with advanced safety features like anti-lock brakes, airbags, traction control, and electronic stability control can contribute to lower insurance premiums. 
  • Repair Costs: While cheap cars may have lower initial purchase prices, the availability and cost of spare parts and repairs can vary. Some cheaper car models have limited availability of parts or require specialized repairs, which can increase insurance costs.
  • Theft Rates: Certain cheap cars may have higher theft rates, making them more prone to claims. This can result in higher insurance premiums.
  • Claims History: The claims history associated with a particular car model can influence insurance rates. If a specific cheap car model has a history of frequent claims, insurers may consider it a higher risk and adjust premiums accordingly.

Here we’re explaining a few more ways to get cheap car insurance in Ontario: 👇

All in all, insurance premiums are determined based on a range of factors. While a cheap car can sometimes lead to lower insurance costs, it’s not a guarantee.

Because of this, the best way to get an accurate estimate of how much the car you intend to buy will cost you in premiums, is to get a quote. 

Our Ontario insurance brokers can help with that. 

Call us.

What colour car is the most expensive to insure?

This is a common insurance myth. 

Your car will NOT be more expensive simply because it’s red. 🚗

In fact, the colour of a car doesn’t directly impact the cost of insurance at all.

That covered, Ontario insurance companies do consider factors including the following when determining car insurance costs:

  • Make & model 
  • Engine size
  • Safety features 
  • Driving & claims history 
  • Driver’s age
  • Location 
  • Driver’s experience & driving record
  • Area where the vehicle will be driven

So, the colour of the vehicle, including popular choices like black, red, or white, does not play a role in the insurance rate calculation.

All in all, insurance companies focus on statistical data and risk factors rather than the colour of the vehicle.

Need car insurance in Ontario?

We can help with that. 

Call us.


So there you have it. 

You now know which cars are the cheapest to insure in Ontario. 💡

To recap: If you’re looking for cheap car insurance in Ontario, here are a few things to keep in mind:

  • Keep a squeaky clean driving record 
  • Avoid making claims
  • Drive a reliable vehicle with a good safety rating 
  • You can save money by driving an older vehicle

And that’s a wrap!

Looking for the cheapest auto insurance in Ontario?

A broker like KBD can help you shop around and save. 😀

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