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Updated
Peterborough is a city on the Otonabee River in Ontario, about 125 kilometres northeast of Toronto. According to the 2021 Census, the population of the City of Peterborough was 83,651. The population of the Peterborough Census Metropolitan Area, which includes the surrounding Townships of Selwyn, Cavan Monaghan, Otonabee-South Monaghan, and Douro-Dummer, was 128,624 in 2021.
Located within a few hours' drive from Toronto and Ottawa, the Peterborough region boasts a delightful mix of urban and rural roads that cater to drivers' preferences. However, due to the city's reliance on cars, its residents typically cover more distance than those in more urban areas.
Your annual mileage is just one of the factors that can impact your car insurance costs, along with your driving history and vehicle specifics. To obtain the most favorable insurance rates, it's advisable to compare quotes and rates from various providers. RATESDOTCA can assist you in accomplishing this task.
Answer a few basic questions about your car and your driving and insurance history.
See quotes from 50+ insurance companies side by side.
Find the right protection for your vehicle.
Connect with the provider and secure your rate.
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| Insurance type | Mandatory coverage | Optional/Additional coverage |
|---|---|---|
| Third-Party Liability | $200,000 minimum. Provides coverage in the event of a lawsuit resulting from an accident where you are at fault. | Coverage can be increased to $500,000, $1 million, or $2 million, with up to $2 million limit. |
| Direct Compensation-Property Damage (DC-PD) | Covers damage to your car, or loss of use of your vehicle, if someone else is at fault. Must involve another insured vehicle. | For additional vehicle coverage including for when you are at-fault, consider collision coverage. |
| Uninsured Automobile Insurance | Provides up to $200,000 in coverage if you are injured or killed by an uninsured driver, or if your vehicle is damaged as a result of a hit-and-run by an unidentified, uninsured motorist. | Family Protection Coverage is an optional coverage that includes additional coverage of up to $1 million in the case of a hit-and-run by an uninsured motorist. |
| Statutory Accident Benefits | Provides coverage if you are injured in an accident, regardless of who is at fault. Covers medical expenses that aren’t covered by OHIP. | Coverage limits can be increased. |
| Collision Coverage (Also Upset Coverage) | Optional | Covers the costs of repairing or replacing your vehicle following a collision with another vehicle, an object, or property. |
| Comprehensive Coverage | Optional | Covers damages caused by named perils identified under the Specified Perils coverage, as well as losses from other perils like falling or flying objects, theft, fire, hail, windstorms, missiles, and vandalism. |
| Specified Perils Coverage | Optional | Covers damages caused by named perils such as theft, attempted theft, explosions, natural disasters like fire, lightning, windstorm, hail, rising water, earthquakes, and also other perils specified in your policy. Specified perils do not cover damages due to vandalism, breakage of glass, etc. |
| All-Perils Coverage | Optional | Combines collision/upset and comprehensive coverage. Also provides additional protection if a household member or an employee steals your vehicle. |
| OPCF 20: Coverage for Transportation Replacement | Optional | Covers the cost of your transportation replacement and rental car insurance if you were to get into a car accident or if your vehicle is stolen. |
| OPCF 27: Liability for Damage to Non-Owned Automobile(s) | Optional | Covers if you damage a borrowed or rental vehicle. The coverage limit is usually around $25,000 to $50,000. |
| OPCF 39: Accident Waiver/Forgiveness | Optional | Protect your premium from rising when you have your first at-fault accident. |
| OPCF 43: Waiver of Depreciation | Optional | Protects you by removing your insurer's right to deduct depreciation from the value of your vehicle when settling a claim. This coverage is for new vehicles with fewer than 5,000 kilometres. |
| OPCF 44R: Family Protection Coverage | Optional | Protects you if you or a family member is injured, regardless of whether you or your family members are in the car when the accident occurs |
The average Peterborough, Ont. car insurance in 2021 cost $1,351 per year or $112 per month, based on our current RATESDOTCA Insuramap data, which is $204 less than the Ontario provincial average of $1,555 a year. When we look at prices for the rest of Ontario, Peterborough is a cheaper city in terms of auto insurance for drivers compared with other bigger cities like Toronto, Vaughan, Brampton, Mississauga and Markham.
The low average cost of Peterborough car insurance is also linked to the likelihood of claims and crime rates in the city, which is why Peterborough drivers pay less than drivers who live in bigger towns.
| Ontario City | Average car insurance premium in 2021 |
|---|---|
| Peterborough | $1,351 |
| Markham | $1,744 |
| King City | $1,766 |
| Schomberg | $1,766 |
| Orangeville | $1,766 |
| Nobleton | $1,766 |
| Whitby | $1,792 |
| Oshawa | $1,833 |
| Toronto | $1,953 |
| Pickering | $1,959 |
| Mississauga | $1,971 |
| Brampton | $1,976 |
| Richmond Hill | $2,025 |
| Ajax | $2,104 |
| Vaughan | $2,179 |
Peterborough drivers paid average car insurance of $1,351 in 2021. However, it is way less compared to other bigger cities in the province like Vaughan and Toronto. Vaughan drivers paid an average premium of $2,179 per year in 2021, the highest in Ontario, compared with Toronto drivers who paid an average of $1,953 while Peterborough drivers paid $1,351 on an average annually.
About the data
We’ve organized the rates the same way insurance companies group their markets – by the first segment of the postal code (otherwise known as the Forward Sortation Area, or FSA), which in Ontario denotes a particular district.
If you are wondering how we have accumulated these numbers, be sure to learn about our methodology.
| Company name | Company type | Phone number | Address |
|---|---|---|---|
| Allstate Insurance: Peterborough Agency | Insurance Agency | +17053042084 | 815 High St #8, Peterborough, ON K9J 8J9, Canada |
| Todd Spalding Desjardins Insurance Agent | Insurance Agency | +17057422573 | 1625 Sherbrooke St #2, Peterborough, ON K9K 0E6, Canada |
| McDougall Insurance & Financial - Peterborough | Insurance Agency | +17057428864 | 261 George St N, Peterborough, ON K9J 3G9, Canada |
| BrokerLink | Insurance Agency | +17057434211 | 201 George St N #201, Peterborough, ON K9J 3G7, Canada |
| Insurance Hotline | Quotes comparison | 1-855-821-7312 | 225 King St W, Suite 1000, Toronto, ON, M5V 3M2 |
| LowestRates.ca | Quotes comparison | 1-855-487-6911 | 401-1910 Yonge St, Toronto, ON M4S 3B2 |
| Billyard Insurance Group - Peterborough | Insurance Agency | +17057401658 | 1600 Lansdowne St W, Unit #2, Peterborough, ON K9J 7C7, Canada |
| RATESDOTCA | Quotes comparison | 1-844-726-0907 | 225 King St W, Suite 1000, Toronto, ON, M5V 3M2 |
| Scoop Insurance | Quotes comparison | 1-866-456-6620 | 22-300 Lincoln St, Welland, ON L3B 4N4 |
| Ontario Insurance Network | Insurance Agency | +17058761300 | 88 Lansdowne St, Peterborough, ON K9J 1Y1, Canada |
Looking to save money on your car insurance in Peterborough, Ontario? With the province's higher-than-average auto insurance costs, many drivers throughout Ontario, are seeking ways to reduce their premiums. Here are some tips to obtain the most affordable car insurance quote in Peterborough.
It's worth noting that car insurance rates in Peterborough are governed by the Financial Services Regulatory of Ontario (FSRA). Therefore, the process of obtaining the cheapest car insurance quote in Peterborough is like that of securing the most inexpensive car insurance in Ontario.
Still have questions about auto insurance in Peterborough? Get them answered here.
No one insurance company will guarantee offer you the cheapest rate. It is best to shop around and request for quotes based on your needs. At RATESDOTCA, we can help you sift through 50+ insurance providers and help find the cheapest rate possible for your auto insurance needs.
Not all insurance companies offer monthy auto insurance plans. It is best to ask an insurance broker or agent for a quote based on your insurance requirements. It's important to note that month-to-month car insurance may be more expensive than a traditional annual policy due to the increased administrative costs associated with frequent policy renewals. Additionally, you may be required to pay a down payment or a higher rate initially to start the policy.
If you are looking for short-term coverage, it's important to compare the cost and coverage of a month-to-month policy with that of an annual policy. In some cases, an annual policy may provide more comprehensive coverage and a lower overall cost, even if you don't need coverage for the full year.
As a new driver in Peterborough, you could face higher insurance rates due to lack of driving experience. The following steps could make the process easier for you:
In 2016, Ontario updated regulations under the Insurance Act to allow insurance companies to offer appropriate products for ridesharing companies. The update made it possible for companies to sell commercial fleet insurance that applies to vehicles hired online. After the update, the Financial Services Commission of Ontario approved specific insurance policies for ridesharing companies like Lyft and Uber. The province has also provided useful information to drivers and consumers about how Ontario auto insurance applies to ridesharing activities.
It is best to check about this policy with your Peterborough based insurance and understand if this is available to you.
You are only going to find the least expensive Peterborough car insurance — that also meets the specific coverage needs you are looking for — by comparing quotes from a variety of different insurance companies. Otherwise how else can you know if you are ultimately choosing the best possible premium?
Use RATESDOTCA to shop around and find the policy that is right for you. Get quotes from more than 50 of Canada’s top insurance companies today.
*Shoppers in Peterborough who obtained a quote on RATESDOTCA from January to December 2023 saved an average of $477 per year. The average savings represents the difference between the shoppers’ average lowest quoted premium and the average of the second and third-lowest quoted premiums generated by RATESDOTCA.
Shivani is a Content Manager at RATESDOTCA, focusing on mortgages. She is an experienced communication and marketing professional who specializes in content strategy and SEO optimization. Shivani ensures that our written materials meet the highest standards of quality and relevance.
She holds a Digital Marketing Management certificate from the University of Toronto, a Business Communications certificate from the University of British Columbia, a Master’s degree in Mass Communication from Symbiosis Institute of Media and Communications and a Bachelor's degree in English from the University of Delhi.
Shivani has previously worked as a deputy digital productions editor with PMNA-The Canadian Press, and as an editor with The Globe and Mail, Toronto Star, and the Investor's Digest of Canada. She has also worked in reputed news media groups in India and the Middle East.
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