Car Insurance in Cambridge

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Something you might not know about Cambridge is that it is the second largest community in the Waterloo region. The area consists of seven cities and townships in total and is home to parks, recreation, arts, entertainment, and business.

BrokerLink compares rates from a wide range of providers, ensuring you get the best deals available.

What is Cambridge car insurance?

Car insurance in Cambridge isn’t just something you’re required to have. It’s a smart way to protect yourself when the unexpected happens. You pay a monthly premium, and in return, your insurance provider helps cover the costs if you’re in a collision or your vehicle gets damaged or stolen.

That said, your coverage should match how and where you drive. In Cambridge, that could mean navigating busy city streets, braving winter weather on Highway 401, or driving through quieter rural routes. Whether you’re commuting to work or heading across town, the right insurance gives you peace of mind.

Do you need car insurance in Cambridge?

Car insurance in Cambridge and throughout the province of Ontario is government-regulated. In other words, anyone driving in Cambridge must carry auto insurance. If you are caught driving without it, you risk:

Severe fines ($5,000-$50,000)
A suspended licence
Having your car impounded

But while following the law matters, it’s not the only reason to carry car insurance in Cambridge. If you get into an accident without coverage, you’d be on the hook for any damage or injuries you cause, and that can get expensive fast. Contact a local insurance broker to help you find affordable car insurance in Cambridge. With so many auto insurance companies to choose from, it’s easier to let a broker find coverage that suits you and your lifestyle!

Types of auto insurance coverage in Cambridge, Ontario

Anyone driving in Ontario, including Cambridge, must have at least the minimum required car insurance coverage. This includes third-party liability, accident benefits, and uninsured automobile coverage. But besides standard car insurance coverage in Cambridge, there are also additional types available that insurance providers will suggest to Ontario drivers. Here's how these common types of auto insurance can protect you:

Third-party liability coverage helps you in the event of an at-fault car accident. This policy covers medical bills and vehicle repair costs if you injure a third party or damage another driver's car. It also helps cover any legal fees you may face. In Cambridge, drivers need a minimum of $200,000 in third-party liability coverage because it is a mandatory insurance policy.

Your insurance policy will provide mandatory coverage if you or someone else requires financial assistance after a car accident. Accident benefits coverage will come into effect regardless of who was responsible for the accident. This policy covers medical expenses that are not covered by OHIP, such as rehabilitation and prescription medication.

Uninsured automobile insurance will help you if you get into a car accident with an underinsured or uninsured driver who cannot afford to cover any expenses from the car accident. It will also provide coverage if you get into a hit-and-run with an unidentified driver.

Your Cambridge car insurance can also include DCPD coverage. If you need to file a claim, you can file it with your own insurance company, which will issue the payout directly, instead of filing through the other driver's insurance. This speeds up the claims process. However, it will only provide coverage if you are not liable for the accident. As of January 2024, this coverage is no longer mandatory.

If you get into an accident with another vehicle or object on the road, it does not matter who is at fault for the accident, as collision coverage covers the costs regardless. Under the collision coverage section of your Cambridge policy, you can receive compensation to help pay for property damage caused by the accident, such as vehicle damage.

Comprehensive coverage is another option that many Cambridge drivers opt for. Standard auto insurance in Ontario can protect against collisions, but it will not keep drivers safe from other incidents on the road. Comprehensive coverage does, which is why your Cambridge insurance company will encourage you to get it. It can protect against theft, vandalism, water damage, fire, falling objects, and much more.

Another type of optional car insurance coverage popular among Cambridge drivers is accident forgiveness. Accident forgiveness is additional coverage that can be added to your car insurance plan as an endorsement to protect your driving record and to help prevent your insurance premium from increasing if you have an at-fault accident claim.

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Ways to save money on car insurance in Cambridge

Car insurance in Cambridge shouldn’t cost you more than it needs to—and that’s where BrokerLink comes in. Our local insurance experts are here to help you save with smart, practical tips tailored to drivers in the area. Whether it’s bundling your policies or installing winter tires to qualify for a discount, we’ve got plenty of ways to help you get the best value on your Cambridge car insurance.

Discounts

Bundle your other insurance policies together

Want a simple way to cut your auto insurance costs in Cambridge? Try bundling. If you also have home insurance, tenant insurance, or recreational insurance, like coverage for your motorcycle, boat, or RV, you could save by combining it all with one provider. Many insurance companies also offer multi-vehicle discounts if you insure more than one car or mix in other types of vehicles.

Use winter tires

Cambridge winters can get icy and unpredictable. If you're regularly driving along Highway 401 or on snow-covered city streets, winter tires can make a big difference. They give you better traction and handling, and most insurers offer a discount (often up to 5%) just for having them during the colder months.

Install an anti-theft device in your car

Car theft is a growing concern across Ontario, and Cambridge has seen its share of incidents. Installing an anti-theft device, like a GPS tracker or alarm system, can reduce your risk, and many insurers will reward you with a discount for the added protection.

Maintain a clean driving record

Safe driving pays off. The fewer tickets, collisions, or claims you have on your record, the better your chances of qualifying for lower insurance rates with a safe driver discount. Drive carefully, and your good habits could help keep your premiums down.

Savings Options

Make annual payments instead of monthly

While monthly payments are convenient, they can come with added fees. If you can swing it, paying your premium in full once a year usually helps you avoid those extra costs and can save you money over time.

Increase your car insurance deductible

Increasing your deductible is another great place to start. Most policies give you the option to choose anywhere from $250 to $2,000. The higher your deductible, the lower your monthly payments. Just make sure it’s an amount you’d be okay paying out of pocket if you ever need to make a claim.

Work with a local Cambridge insurance broker

A local BrokerLink advisor in Cambridge is here to work for you, not the insurance companies. We shop around and compare quotes from trusted providers to help you find the right coverage at the best possible rate. Whether you're driving along Franklin Boulevard or hopping onto Highway 401, we’ll make sure your policy fits your lifestyle and local driving needs.

How insurance companies calculate Cambridge auto insurance premiums

There are many factors that go into determining car insurance costs, such as your age, gender, the type of vehicle you drive, how often you drive, your driving history, and what types of coverage options you choose. But another significant factor is your location. Car insurance companies consider factors specific to where you live and work when determining your car insurance rates, such as:

Local driving risks

Cambridge Today reported that Cambridge ranks 10th in Ontario for drivers with accidents on record, with 12.5% having had an accident, and 12th for driving infractions, with 11.03% having violations. Having at-fault accidents or multiple driving infractions on your driving record can lead car insurance providers to label you as a high-risk driver. As a high-risk driver, you're at risk of much higher premiums or even having your policy cancelled.

On top of that, in 2024, fatal collisions in the Waterloo Region increased by 50% compared to 2023, with major injury collisions rising by 32%. Since Cambridge drivers are higher on the provincial list for accidents and driving infractions, plus the increase in fatal and major injury collisions, insurance companies are likely to take these increased risks into account when calculating new car insurance costs for someone in Cambridge.

Local crime rates

Auto theft has become a major problem across Ontario, and Cambridge is no exception. According to data from the Ministry of Transportation (MTO), between November 2021 and mid-January 2024, 291 vehicles were reported stolen, with Chevrolet Silverados or Toyota Highlanders being the most stolen vehicles. This means that drivers in Cambridge are likely to see this increased risk reflected in their car insurance premiums. In fact, the Insurance Bureau of Canada (IBC) reported that auto theft claims hit over $1 billion in 2023 alone, which has added around $130 a year to the average insurance premium in Ontario.

Local weather risks

Severe summer storms have been wreaking havoc across southern Ontario, causing significant insured damage to many cities, including Cambridge. For example, in 2023, Ontario got hit with some major summer storms and flash floods. According to the IBC, those storms led to more than $340 million in insured losses, with about $80 million of that (roughly a quarter) being just for repairing or replacing vehicles damaged by the weather.

Then, in 2024, severe summer flooding in southern Ontario exceeded $1 billion in insured losses. To help recover these significant losses, insurance companies will often increase premiums. As we mentioned, in addition to local factors, there are many other factors that car insurance companies take into consideration when determining your Cambridge car insurance rates. If you’re wondering what your Cambridge car insurance premium might look like, reach out to BrokerLink for a free, no-obligation quote.

How to get a car insurance quote in Cambridge

Getting a car insurance quote in Cambridge is easier than you think, especially when you have a BrokerLink insurance broker on your side. Here’s how to do it:

1. Reach out to us

You can reach us by phone, email, or in person at any one of our locations throughout Ontario.

2. Tell us about yourself

We’ll ask a few quick questions about your vehicle, driving history, and the kind of coverage you're looking for.

3. We shop for you

Our brokers shop around and compare quotes from some of the best car insurance companies in Ontario to find you the best rate and coverage options available.

4. You pick your policy

We’ll present the best-fit options and help you choose a policy that suits your budget and lifestyle.

That’s it! No pressure, no hassle. Contact a BrokerLink broker in Cambridge today and let us help you save time, money, and stress on your auto insurance.

Contact BrokerLink for a free Cambridge car insurance quote

Do you still have questions about purchasing car insurance in Cambridge? Want to learn more about mandatory auto insurance in Ontario, discuss the optional coverage types available to you, or request a free auto insurance quote? Contact BrokerLink today.

As your local car insurance broker in Cambridge, we’re here to help you find the most affordable coverage. Whether you’re commuting every day or just enjoying life around the city, we’ll compare car insurance quotes and policies to get you the best fit.

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