Car insurance for students in Ontario can be expensive, as students are often considered a higher risk group due to their lack of driving experience. However, there are ways that students can save on their car insurance:
- Be added to a parent’s insurance policy: If a student is added to a parent’s insurance policy, the cost of insurance can be lower than if they had their own policy.
- Maintain a good driving record: Students can save on insurance by avoiding accidents and traffic violations, as a poor driving record can result in higher insurance premiums.
- Take a driver education course: Completing a driver education course can help to reduce the cost of insurance for students, as insurance companies may offer discounts for safe driving habits.
- Choose a car with safety features: Cars with safety features, such as anti-lock brakes, airbags, and stability control, can be less expensive to insure and help to reduce the risk of accidents.
- Shop around and compare quotes: The cost of insurance can vary greatly between insurance providers, so it’s important to shop around and compare quotes from several providers to find the best coverage and price for your individual needs.
By taking these steps, students in Ontario can help to reduce the cost of their car insurance and find the best coverage for their needs. Additionally, it’s always a good idea to speak with an insurance broker who can help you to find the best insurance options for your individual circumstances.
How much does student car insurance cost?
The cost of car insurance for students in Ontario can vary depending on several factors, including the student’s driving record, the type of car they drive, and the level of coverage they need. On average, car insurance for students in Ontario can range from $1,500 to $3,000 or more per year.
Keep in mind that the cost of insurance for students can be influenced by a variety of factors, such as the student’s age, driving experience, and driving habits. For example, a student with a clean driving record who drives an older car with a low replacement value may have lower insurance premiums than a student with multiple accidents who drives a newer car.
Completing a driving school course can potentially reduce your car insurance premium in Ontario. The amount by which your insurance premium will be reduced can vary depending on the insurance company and the specific terms of your policy.
Some insurance companies offer discounts for completing a driver education course, as it is often viewed as a sign of responsible driving behavior. For example, some insurance companies may offer a discount of 5-10% for completing a driving school course.
Average car insurance rates for drivers under 25 years old by province
The average car insurance rates for drivers under 25 years old can vary greatly depending on the province in Canada. Here are some estimated average car insurance rates by province for drivers under 25 years old:
- Alberta: $2,000 – $3,000 per year
- British Columbia: $2,000 – $3,000 per year
- Manitoba: $1,500 – $2,500 per year
- New Brunswick: $2,000 – $3,000 per year
- Newfoundland and Labrador: $2,000 – $3,000 per year
- Nova Scotia: $1,500 – $2,500 per year
- Ontario: $2,000 – $3,000 per year
- Prince Edward Island: $2,000 – $3,000 per year
- Quebec: $1,500 – $2,500 per year
- Saskatchewan: $2,000 – $3,000 per year
Keep in mind that these are estimated average rates and the actual cost of car insurance for drivers under 25 years old can vary greatly depending on several factors, such as driving history, type of car, level of coverage, and more. It’s always a good idea to shop around and compare quotes from several insurance providers to find the best coverage and price for your individual needs.
Which car insurance is best for students?
The best car insurance for students in Ontario will depend on the individual student’s needs and circumstances. Some factors to consider when choosing car insurance for students include:
- Cost: Students may be on a tight budget, so it’s important to look for an insurance company that offers competitive rates.
- Coverage: Make sure to choose a policy that provides adequate coverage for your needs. For example, if you drive an older car, liability coverage may be sufficient, but if you drive a newer car, you may want to consider a policy that includes collision and comprehensive coverage.
- Discounts: Look for insurance companies that offer discounts for students, such as discounts for good grades or for completing a driver education course.
- Claims process: Choose a company with a simple and efficient claims process in case you need to make a claim.
- Reputation: Consider the reputation of the insurance company, including customer service, claims handling, and financial stability.
It’s always a good idea to compare quotes from several insurance companies and to speak with an insurance broker who can help you to find the best insurance options for your individual circumstances. Some popular insurance companies in Ontario that offer car insurance to students include Allstate, Intact, and TD Insurance.