The average cost of car insurance in Peterborough is approximately $1,100 per year or just over $90/month. Drivers should shop around online to get the best car insurance rate possible in Peterborough. There are multiple factors that affect a car insurance rating. Car insurance companies take these different variables into account, so the cost of car insurance in Peterborough will vary for everyone! To get the best possible insurance rates, we recommend contacting a licensed insurance advisor to shop the market for you to get the best deals on car insurance!

Yes, all Ontario drivers including drivers in Orillia are required by the Financial Services Commission of Ontario (FSCO) to have a minimum of $200,000 worth of third-party liability coverage, statutory accident benefits coverage, uninsured automobile coverage, and direct compensation & property damage coverage (DCPD).

Auto insurance in Ontario is provided by private insurance carriers and is regulated by the Financial Services Regulatory Authority of Ontario (FSRAO).

Auto insurance companies use a variety of different factors in considering when underwriting a new policy. Factors include driving history, location, and type of vehicle. If the vehicle is financed, the finance company might require carrying full coverage. This means that you would need to have collision and comprehensive coverages on your policy. 

• Compare insurance costs

• Request higher deductibles

• Reduce your coverage amount on older vehicles

• Combine homeowners’ and auto coverage with the same insurance provider

• Maintain a good driving record

The cheapest car insurance provider will depend on every customer’s unique situation. Every company has its own formula, meaning some criteria like driving record or age may weigh more than others. It’s a good idea to compare rates from various insurers with Surex so that licensed insurance advisors can shop the market for you.

There are three types of car coverage in Canada. 

• Collision car insurance: coverage for when you and another car or stationary object collide to cover the cost of the repair. 
• Comprehensive car insurance: provides coverage for hitting an animal, fire, theft, vandalism, flood.
• Liability car insurance: is required, by law, for all drivers. This insurance protects others from damages caused while you are driving, including property damage, bodily injury, and death.

It does not cover regular repairs resulting from wear and tear on your car.

Car insurance coverage in Peterborough is broken down into two categories: mandatory and optional. Here is what each coverage includes:

Mandatory coverage:

• Third-party liability
• Accident benefits 
• Uninsured automobile insurance
• Direct Compensation Property Damage (DCPD)

Optional coverage:

• Collision insurance
• Comprehensive car insurance
• Specified perils
• All perils