Cheap Richmond Hill Car Insurance Quotes
Richmond Hill drivers save $578* on average by comparing car insurance quotes on InsuranceHotline.com
Jump straight to...
- How does Richmond Hill auto insurance work
- Mandatory & optional coverages in Richmond Hill
- How much does car insurance in Richmond Hill cost?
- Richmond Hill car insurance rates by postal code
- Factors that influence your Richmond Hill auto insurance premium
- Frequently asked questions about Richmond Hill auto insurance
How does Richmond Hill auto insurance work
Just north of Toronto, in the South Central area of York Region lies Richmond Hill. It is the third most populous municipality in the area.
Drivers living in Richmond Hill are under Ontario insurance regulations and are required to take out basic third-party liability, statutory accident benefits, and uninsured automobile insurance. For added protection Richmond Hill drivers can buy optional car insurance from their providers.
All Ontario citizens operate under the no-fault insurance system, meaning drivers can request benefits from their own providers only, regardless of who is at fault in an accident.
Like the rest of Ontario towns and cities, Richmond Hill auto insurance companies operate as private companies, competing for your business. You can also purchase insurance from brokers, agents or providers directly (also known as direct writers). Ontario offers no public auto insurance options.
Changes to Ontario's auto insurance in 2024
Ontario is currently in the process of reforming how auto insurance works in the province. The goal of this is to reduce the amount of coverage drivers are forced to take out, and in turn, lower their premiums.
Some of the proposed changes include:
- Option to remove the caregiver benefit, housekeeping and home maintenance expenses benefit, income replacement benefit, and death and funeral benefits (benefits for medical, rehabilitation, and attendant care will remain mandatory, however).
- Making auto insurance companies the first payer for medical and rehabilitation benefits (at the moment, a person's private medical insurance is the first payer). This change is meant to streamline the claims process and lead to earlier resolution.
- Option to remove direct compensation for property damage (DCPD) coverage (in effect since January 2024).
How to get the cheapest Richmond Hill car insurance quotes
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| Cheapest Rate | $3,177 |
| Average Rate | $8,540 |
| Savings: $5,363 (63%) | |
| Cheapest Rate | $2,019 |
| Average Rate | $4,718 |
| Savings: $2,699 (57%) | |
| Cheapest Rate | $3,191 |
| Average Rate | $5,496 |
| Savings: $2,305 (42%) | |
Mandatory & optional car insurance coverage in Richmond Hill
| 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. |
| 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. |
| Direct Compensation-Property Damage (DC-PD) | Optional | DCPD is included in all standard insurance policies, but Ontario drivers can apply to remove it. DCPD pays to repair or replace your car if you're in a collision where the other driver is at fault. You lose this coverage by removing DCPD, as well as your ability to sue the other driver for repairs. |
| 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 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 16: Suspension of coverage | Optional | This allows you to suspend your insurance coverage for 30 days or more during periods when you aren't using the car. |
| OPCF 43: Waiver of depreciation | Optional | Ensures your insurance company won't factor in depreciation when settling a claim; you will receive the amount you initially paid for the car. |
| OPCF 44R: Family protection coverage | Optional | Ensures your costs are covered if you and your family are involved in an accident with a driver with less liability insurance than you. This endorsement will cover the remainder. |
| OPCF 13C: Limited glass | Optional | For a lower premium, you can limit or exclude any coverage for glass damage that might've been in your policy. |
| OPCF 40: Fire and theft deductible | Optional | Adds a deductible (an amount you must pay before your insurance company chips in funds) for a theft or fire damage claim. |
How much does car insurance in Richmond Hill cost?
According to RATESDOTCA’s Insuramap, the average cost for Richmond Hill auto insurance in 2021 was $2,205, which is an 11.4% decrease from 2020’s premium of $2,286.
That’s a relatively big difference from the Ontario average premium of $1,555. Richmond Hill, despite having some rural areas, borders Toronto and is a fairly congested and densely populated area. There are also major thoroughfares and highways running through it which pose higher risks for drivers and Richmond Hill auto insurance providers.
Richmond Hill car insurance rates by postal code
Richmond Hill, north of Toronto, is a relatively diverse area in terms of geography. While some parts are still very rural with large swaths of farmland and beltline land, other areas that border Toronto are quite dense and heavily populated with both industry and residents.
The cheapest areas for Richmond Hill auto insurance are in the L4S and L4B postal codes, which is north of Major MacKenzie Ave. and borders Markham. The most expensive are is L4E, area sometimes referred to as Oakridges. As new immigrants flock to the Greater Toronto Area, more and more housing developments are popping up in this area making it more congested and densely populated. The year-over-year change was 2% higher in 2021 at $2,293 per year versus 2020’s $2,240 per year premium.
Also, many main throughfares such as Bathurst, Bayview and Yonge Streets run through these areas as does Highways 407 and 7. A drive along these stretches reveals not only residential subdivisions but many manufacturing facilities.
| Richmond Hill | Avg 2021 premium | Avg 2020 premium | YoY change |
|---|---|---|---|
| L4B0A1 | $1,863.00 | $2,240.00 | -17% |
| L4C0A1 | $2,080.00 | $2,460.00 | -15% |
| L4E0A1 | $2,293.00 | $2,240.00 | 2% |
| L4S0A1 | $1,863.00 | $2,202.00 | -15% |
Recent annual car insurance savings unlocked by real Richmond Hill drivers
Here are some recent examples of savings found by real Richmond Hill drivers using InsuranceHotline.com.
Savings $58
Vehicle 2021 Toyota Corolla 4Dr hatchback
Driver details 20 years, Female
Best premium $1,393
Second best $1,451
Savings $217
Vehicle 2022 Subaru WRX Sport Tech 4 DR AWD
Driver details 18 years, Male
Best Premium $2,287
Second Best $2,504
Savings $158
Vehicle 2022 Tesla Model 3 long range 75D 4DR AWD
Driver details 42 years, Male
Best Premium $813
Second Best $971
Savings $76
Vehicle 2021 Honda Civic
Driver details 28 years, Male
Best Premium $1,024
Second Best $1,100
Savings $47
Vehicle 2022 Nissan Kicks S 4DR 2WD
Age 30 years, Male
Best Premium $746
Second Best $793
Savings $55
Vehicle 2022 Ford F150 King Ranch Hybrid Supercrew 4WD
Age 40 years, Male
Best Premium $562
Second Best $617
Age
You may be as old as you feel but Richmond Hill car insurance companies might see it another way. Younger drivers are considered less experienced and perhaps riskier than drivers with a history and maturity that goes with age.
The vehicle you drive
There’s more to cars than the four wheels and paint. Richmond Hill auto insurance providers look at the risk factor involved in high-end car maintenance and theft potential, reliability and safety features. Talk to your agent or broker about how your car falls into a high or low risk category.
Where you live
Because Richmond Hill is so diverse, driving considtions and safety may vary greatly. Richmond Hill auto insurance companies will assess the risk of the potential for collision and theft against less congested areas that have fewer people living there.
Also, your home may have alarms and security that could affect the rates you pay for Richmond Hill auto insurance.
Your driving record
The safer you drive, and the more you maintain a good driving record, the better your Richmond Hill auto insurance rates can be. Providers will want to know if you are a risk factor or have good driving habits now and in the past.
Your insurance history
The amount of claims (or lack of claims) you have will matter. Richmond Hill auto insurance companies will assess your risk based on the number of claims you’ve made over time. The assumption is that a pattern of claims is likely to continue and will cost the insurance company money.
The coverage options you choose to include in your policy
Besides mandatory insurance coverage, Richmond Hill residents can opt into optional coverage. This type of optional coverage can include products that reimburse you for physical damage to your car by circumstances that are not covered in a standard policy. Another form of optional insurance includes endorsements, which are special contracts that amend a standard policy.
Your policy's deductibles
Deductibles is the amount of money you agree to pay for repairs of benefits before Richmond Hill auto insurance benefits kick in. Agreeing to a higher deductible means you pay out more first, and your insurance company pays less. A lower deductible does the opposite.
Generally, Richmond Hill car insurance companies favour higher deductibles placing less risk and money loss on them.
If you’re bundling with other insurance products, such as home insurance
Gender and marital status
Fairly or not, Richmond Hill auto insurance companies look at married people as lower risk and more responsible drivers. Younger, unattached drivers, may have fewer obligations and responsibilities, and therefore are considered a higher risk driver.
The company’s own insurance claims history
Richmond Hill auto insurance companies require capital reserves to pay claims when they occur. The greater the claims, the more money that is required, and potentially, the higher the rates are to customers to make up for that cashflow issue.
What can I do to get cheaper car insurance in Richmond Hill?
Shop around
One of the best ways to find cheaper car insurance in Richmond Hill is comparison shopping. InsuranceHotline.com will provide you with up-to-date and immediate quotes from some of the top Richmond Hill auto insurance companies.
Increase your deductible
When making a claim there will always be an amount you’ll have to pay up front before your Richmond Hill auto insurance company pays. That amount is a deductible and the more you offer to pay up front, the less your premium can be. A low deductible will ultimately mean a higher Richmond Hill auto insurance rate.
Pay your premiums annually
Annual payments for Richmond Hill auto insurance will help decrease your premiums. Why? Insurance companies prefer having the cash up front in case they need it for other or future claims.
Multi-line discount
Bundling your home, auto and life insurance under one company can help save you as much as 15% on your premiums.
Insure all vehicles together
The more cars you insure under one policy the more you can save from your Richmond Hill auto insurance company. Save anywhere from 10% to 20%.
Winter tire discount
Winter tires at the right time of year can reduce risk and potential for claims. Richmond Hill auto insurance companies will reward that with a discount of up to 5%.
Review your policy annually
Reviewing your Richmond Hill auto insurance policy can do a few things. First you can see if you still need all the coverage you had from a year ago. You can save a termination fee by simply renewing, and you might be able to renegotiate your policy under better terms.
Telematics
Using a telematics device to monitor your driving habits and behaviour can save you money. Safer drivers with clean records will be rewarded for their habits. Ask your Richmond Hill auto insurance company if this is something that can work for you.
Ask about discounts
Ask your insurers about other discounts beyond winter tires and telematics. Some union members, association members and alumni can save on their premiums. Ask your Richmond Hill car insurance company about these group discounts.
Driver education
A little knowledge is dangerous but a lot can save you money on your Richmond Hill auto insurance. Taking a driver’s education course can help improve your driving skills, remind you or teach you strategies you didn’t know about and reduce your risk factor as a driver. Richmond Hill auto insurance companies will look favourably on anything that reduces risk.
Compare quotes and save on Richmond Hill auto insurance
Richmond Hill car insurance rates are increasing, and quotes can vary by hundreds if not thousands of dollars for the exact same protection. If you dont shop around, you are almost certainly paying too much.
InsuranceHotline.com helps drivers compare rates from over 50 of Canada's top insurance providers. We show you your options side by side, making it easy to find the best price and coverage. Our service is free and there is never any obligation to buy.
Richmond Hill drivers who compared quotes on InsuranceHotline.com saved an average of $1,088* on their annual premium.
*Shoppers in Richmond Hill who obtained a quote on InsuranceHotline.com from January to December 2023 saved an average of $578 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 InsuranceHotline.com.
Frequently asked questions about Richmond Hill auto insurance
How can I find the cheapest Richmond Hill car insurance?
Finding the cheapest Richmond Hill car insurance starts with shopping around. Comparison sites like InsuranceHotline.com offers immediate, up-to-date quotes that meet your driving needs.
You can also talk to a broker or agent (or directly to an insurance company) to discuss your needs and how best to find cheap Richmond Hill auto insurance.
Who has the best auto insurance in Richmond Hill?
No two drivers or Richmond Hill car insurance companies are alike. Identify your needs as a driver and seek out the company that can best accommodate your insurance issues and budget. Using InsuranceHotline.com can help with that as can talking to your agent or broker.
Can I get car insurance in Richmond Hill as a newcomer?
Newcomers to Richmond Hill can most definitely get car insurance. You may need to proove your driving history from your home country. You can talk to an agent or broker about which companies can assist and offer rates that meet your budget.
Also, you may consider asking a friend or relative to assign you as a driver under their policy until you gain more experience in this country.
