Whether you are buying auto insurance or renewing your policy, FSRA’s role, as a regulator, is to ensure that insurance companies’ proposed rates are fair and reasonable, not excessive for consumers.

Auto insurers need the regulator’s approval to change the rates they use to calculate premiums for their customers. You can learn more about how auto insurance rates get approved and review rate changes as they are approved for every auto insurer in Ontario.

Average premiums in Ontario

Your car insurance premium is the amount you pay your insurance company in exchange for insurance coverage. Typically premium is based on a number of market conditions.

Average premium information gives consumers a convenient provincial average to compare with their premium. FSRA updates this information regularly.

Region As of Oct 2023 As of June 2023 As of October 2022 As of June 2022 As of Oct 2021
Ontario $1,796 $1,737 $1,673 $1,658 $1,645
GTA $2,391 $2,323 $2,241 $2,223 $2,208
Other Urban $1,711 $1,652 $1,588 $1,574 $1,564
Rural $1,404 $1,353 $1,305 $1,295 $1,285

The average annual premium is for all Ontario private passenger vehicles insured in Ontario over the past 12 months.

A customer’s premium can change because of an insurer’s approved rate change overall. Premium changes can also be a result of changes in the customer’s own circumstances, such as moving to a new location, purchasing a new vehicle or being issued a speeding ticket.