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Top 10 Cheapest Cars To Insure In Ontario

When buying a new car, it could be quite challenging to find a reasonably cheap car to insure in Ontario, and this is simply because different cars come with different car insurance premiums. Additionally, the multitude of car brands offered in Ontario do not make this process easy on a prospective new car buyer who is looking for a vehicle that can be insured at a low cost. However, there are many excellent vehicle choices for you to consider if you are looking to insure your new car. Read on to find out which cars made it to the top 10 list of the cheapest cars to insure in Ontario in 2022. 

Factors That Determine How Cheap You Car Is To Insure

Some of the most common factors in determining your car insurance premiums include the following: 

  • Vehicle type: this is a significant factor when it comes to your car insurance premiums, as more expensive cars will require higher insurance rates to cover any damages in the event of a claim after an accident. If, for example, you drive a hybrid car, or your car is equipped with an anti-theft device, you can expect to save up to $500 annually compared to cars that lack these features. 

  • Age of vehicle: this factor is also critical in determining your car insurance premiums. Vehicles over 12 years old will often lack many of the accident avoidance and safety features that are built into newer cars. Safety features help to protect the driver and passengers in the event of an accident, in turn helping to reduce claims costs resulting from injuries. For this reason, older cars may sometimes be more expensive to insure than newer ones. However, these newer features generally cost more to repair and can drive up the cost of insurance.

  • Purpose and frequency: what you use your vehicle for can significantly affect your insurance premiums. Drivers that make daily commutes, or those who use their vehicle for business (e.g driving for hire or door deliveries) generally will pay higher car insurance premiums as opposed to those drivers who drive occasionally and for leisure. 

Top 10 Cheapest Cars To Insure In Ontario

As mentioned in the above, the following is a list of the top 10 cheapest cars to insure in Ontario as of 2022:

Mitsubishi Mirage

This small car is an ideal and compact hatchback that offers significant fuel savings, and is made to perform well in any Canadian weather situation.

  •  Estimated Total Annual Driving Costs: $6,537.53/year.

  • Total Cost per Kilometre: $0.33.

  • Fuel Cost per Year (Gas): $1,267.96.

Chevrolet Spark

A reliable hatchback that boasts a high safety rating along with significant fuel efficiency. 

  • Estimated Total Annual Driving Costs: $6,787.67/year.

  • Total Cost per Kilometre: $0.34.

  • Fuel Cost per Year (Gas): $1,341.60.

Toyota Corolla

The Corolla is known for its reliability and excellent safety rating. It's no wonder that Canadians buy 1 million of these cars a year. 

  • Estimated Total Annual Driving Costs: $6,960.57/year.

  • Total Cost per Kilometre: $0.35.

  • Fuel Cost per Year (Gas): $1,722.40.

Mazda 3 

The Mazda 3 is known for being a sporty-looking car that is affordable and high-quality. 

  • Estimated Total Annual Driving Costs: $7,096.40/year.

  • Total Cost per Kilometre: $0.35.

  • Fuel Cost per Year (Gas): $1,694.30.

Hyundai Elantra

The Elantra is an excellent compact car, boasting fuel efficiency, reliability, and safety. 

  • Estimated Total Annual Driving Costs: $7,578.34/year.

  • Total Cost per Kilometre: $0.38.

  • Fuel Cost per Year (Gas): $1,698.98.

Honda Civic

The Honda Civic is simply one of the best four-door compact cars in Canada, known for its reliability and fuel efficiency.  

  • Estimated Total Annual Driving Costs: $7,645.69/year.

  • Total Cost per Kilometre: $0.38.

  • Fuel Cost per Year (Gas): $1,694.30.

Chevrolet Cruze

One of the lowest priced cars one can buy in Ontario, the Chevrolet Cruze is ideal if you want to save on your insurance premiums. 

  • Estimated Total Annual Driving Costs: $7,723.50/year.

  • Total Cost per Kilometre: $0.36.

  • Fuel Cost per Year (Gas): $1,647.46.

Volkswagen Golf

This practical German hatchback offers reliability with an affordable estimated annual driving cost. 

  • Estimated Total Annual Driving Costs: $7,735.50/year.

  • Total Cost per Kilometre: $0.39.

  • Fuel Cost per Year (Gas): $1,830.12.

Toyota Camry

The Toyota Camry is a spacious mid-size car that can seat 5 people and has a history of impressive reliability.  

  • Estimated Total Annual Driving Costs: $7,870.63/year.

  • Total Cost per Kilometre: $0.39.

  • Fuel Cost per Year (Gas): $1,947.21.

Kia Forte

You can’t go wrong with this compact car. It has significant interior room for its vehicle class, and it’s one of the cheapest cars to buy and insure in Ontario. 

  • Estimated Total Annual Driving Costs: $7,976.09/year.

  • Total Cost per Kilometre: $0.40.

  • Fuel Cost per Year (Gas): $2,022.15.

If you are planning on buying a new car and would like to benefit from the savings on your car insurance premiums, please contact us today so that we can provide you with a quote.
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