Cambridge is a picturesque city on the Grand River in Southern Ontario with a population of 138,000.
Most residents in Cambridge drive, because although there is public transit, it is not as comprehensive and frequent as larger cities in Ontario.
And of course, those drivers are required by law in Ontario to carry insurance for their vehicle. Some of it is mandatory, such as accident benefits, Direct Compensation Property Damage (DCPD), third party liability and uninsured motorist insurance.
But many insurers in Ontario also offer optional coverages, including all perils, comprehensive, collision and specified perils.
Below, we break down which coverages are considered mandatory for drivers in Ontario and which ones are optional. Take some time to familiarize yourself with them so you can find the right coverage for you.
You will be required to have the following coverage for your vehicle in Ontario.
“Endorsement” refers to an amendment in your insurance policy that either broadens, restricts or alters your terms. Often, they're added to your policy for increased coverage.
Familiarize yourself with the endorsements below to see if they make sense for you.
Take stock of the above coverages and decide how much will give you peace of mind. But also remember that more coverage will increase the cost of your annual premium.
One way to save money is to compare the coverages you want among many difference insurance providers. You can use a site like Insurancehotline.com to do that quickly and for free.
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The average car insurance premium in Cambridge in was $1,402, according to data from RATESDTOCA.
The average in Ontario, by comparison, is $1,555, meaning that insurance in Cambridge is about 10% less expensive than the provincial average.
Residents living in the Cambridge postal codes of N1R and N1S will find premiums ranging from $1,378 to $1,475.
The cheapest car insurance is in postal code N1S, at $1,378, while the most expensive insurance is in N3H, at $1,475.
|Cambridge postal code||Average 2021 car insurance premium|
Cambridge, Ontario is a city that likes to entertain. Home to the country's oldest farmer's market (which still operates out of the original building it started in back in 1830), residents of Cambridge also enjoy cultural events such as the Cambridge Highland Games, the annual dragon boat race and Christmas in Cambridge, not to mention hundreds of hectares of parkland! It's no wonder the city is growing alongside neighbouring Kitchener and Waterloo. Together, the three cities comprise the heart of the Waterloo region.
For drivers, this means there's plenty to see and lots to do. Nobody wants to waste precious time shopping around for car insurance when they could be out enjoying the day with their families. That's why InsuranceHotline.com has become the go-to destination for millions of Canadians looking to save on their auto insurance. Our service compares quotes from more than 30 of Canada's top insurance providers making it easier and faster for Cambridge-based drivers to save on their car insurance. Find out what you could be saving by comparing car insurance quotes today.
|City||Average 2021 premium||Difference from Cambridge average in 2021|
Insurance companies take a wide range of factors into account to price insurance. It’s important to understand that different insurers calculate risk differently. That means while one insurer may rate your neighbourhood as higher risk to insure a vehicle in, another insurer will gauge it less risky based on their data. So be sure to always compare your quotes.
While there are some factors that you don’t have as much control over when it comes to car insurance, there are still many things you can do to save money. Below, we list out some steps you can take to cut down on your annual costs.
Annual Savings: $339
Driver: Male, age 36, Cambridge, ON
Driving: 2016 Mazda 3 4DR
Current Rate: $1,872
Lowest Rate Available: $1,533
Insurance Company: Ayr Farmers Mutual Insurance
Annual Savings: $617
Driver: Female, age 27, Cambridge, ON
Driving: 2014 Kia Soul
Current Rate: $2,491
Lowest Rate Available: $1,874
Insurance Company: Portage Mutual Insurance
Annual Savings: $594
Driver: Female, age 43, Cambridge, ON
Driving: 2016 Hyundai Sonata 4DR
Current Rate: $1,779
Lowest Rate Available: $1,185
Insurance Company: Gore Mutual Insurance
Car insurance is a necessity when it comes to owning a car. But if you're not with the right auto insurance provider, it may be costly. If you're looking for ways to save money on Sudbury car insurance, the best way to save is to compare rates. Car insurance rates are always changing and will vary by company, which is why it pays to shop around.
When it comes to determining insurance rates there are many factors that are taken into consideration. One of the biggest ones is your driving record. Many people think, only drivers with tickets, collisions or both need to shop around, but InsuranceHotline.com data shows that even drivers with a clean driving record benefit too!
While getting quotes at InsuranceHotline.com, almost 70.4 per cent of Cambridge drivers indicated they have a clean driving history with no tickets, accidents or licence suspensions to speak of. That's a good chunk of the population. The rest may have a blemish or two on their record.
Every province has compulsory coverages that you must have as part of your policy. In addition to these compulsory coverages, there are optional coverages that you can add to your policy for an additional fee. These include:
The majority of drivers opt for collision and comprehensive coverage, but it depends on a number of factors including the age of your vehicle. If you're interested in any of these coverages, be sure to speak with your insurance representative when purchasing your policy and don't forget to ask any questions you m ay have.
Shoppers in Cambridge obtained a quote on InsuranceHotline.com in 2021 saved an average of $636. Total savings represents the average savings multiplied by the number of shoppers who generated a quote in 2021. Compare your Cambridge insurance rates today to see if we can help you save money, too, because who couldn't use a little more savings in their wallet?
Finding the cheapest car insurance means using a site like Insurancehotline.com to compare your options. Not all car insurance companies will offer you a low rate. Some may deem you to be riskier to insurance, and will charge you accordingly. The only way to find the cheapest rate is to compare online!
Different people will find that different companies offer them the cheapest rate. That’s because companies will look at a variety of factors, including your driving history, where you live and what kind of car you drive to determine what you should be paying. And they all judge the risk of insuring you based on those factors in different ways. That means that the cheapest company for one person may not be the cheapest for another. To find out which company is willing to give you the best rate, compare online.
Insurance companies are businesses that price risk based on their best judgment. If you get into an accident, they will have to raise your premiums to account for the fact that you cost them money and may be riskier to insure than they initially expected. Other factors outside your control can also drive rates up. For instance, there has been a surge in inflation recently, which has made cars more expensive to repair, thus meaning those costs get passed on to consumers in the form of higher insurnace costs.
*Shoppers in Cambridge who obtained a quote on InsuranceHotline.com in 2021 saved a total of $636. Total savings represents the average savings multiplied by the number of shoppers who generated a quote in 2021.