Buying or leasing a vehicle is one of the biggest financial decisions many people in Ontario make. Beyond the sticker price, its fuel efficiency, battery range, and features, there’s another aspect that can significantly affect a household budget: Auto insurance.

To help drivers better understand this often‑overlooked factor, the Insurance Bureau of Canada (IBC) has launched a new online tool called “How Cars Measure Up”.

This free resource gives drivers insight into how different vehicle choices can influence insurance costs — helping you make more informed decisions before signing on the dotted line.

NEW CAR-BUYING TOOL
Let IBC do your homework to help you understand how a vehicle’s make and model affects your insurance premium: How Cars Measure Up

What Is ‘How Cars Measure Up’?

How Cars Measure Up is an online comparison tool developed by the IBC that allows drivers to evaluate popular vehicle makes and models. Rather than focusing on vehicle performance or luxury features, the tool ranks vehicles based on insurance data, such as:

• Frequency of insurance claims
• Average cost of those claims

By analyzing insurance outcomes, the tool shows how certain vehicles perform when it comes to repairs, collisions, and overall claims cost.

Why Insurance Claims Data Matters

Many drivers are surprised to learn that two vehicles with similar purchase prices can have very different insurance costs. That’s because insurance companies assess risk using historical claims data, including:

• How often a vehicle is involved in claims
• How expensive it is to repair after an accident
• How well safety systems reduce injury or damage

Vehicles that are more frequently involved in costly claims generally lead to higher insurance premiums. “How Cars Measure Up” pulls back the curtain on this process, giving consumers access to insights that may otherwise be hard to find.

Who Can Benefit from How Cars Measure Up?

This tool is valuable for a variety of drivers, including:

• First‑time car buyers navigating insurance costs and overall vehicle ownership for the first time
• Families choosing vehicles with safety and affordability in mind
• Drivers shopping for new or used vehicles
• Leasers comparing options and overall price before committing to a contract
• Budget‑conscious drivers looking to manage long‑term ownership costs

Whether you’re upgrading your vehicle or downsizing, understanding how different cars “measure up” from an insurance perspective can make a meaningful difference.

A Step Toward More Informed Consumer Choices

The launch of How Cars Measure Up reflects a broader push toward transparency and consumer education in the auto and insurance industries. By transforming complex claims data into accessible rankings, IBC is helping Ontario drivers connect the dots between vehicle design, safety, repair costs, and ultimately insurance premiums.

This new tool reinforces an evergreen message: the cheapest car to buy isn’t always the cheapest to own.

Before You Buy or Lease, Take a Look

Choosing a vehicle is about more than style and performance — it’s about long‑term value and financial peace of mind. Before making your next big purchase decision, exploring How Cars Measure Up can provide insights that help you avoid surprises and feel confident in your choice.

When you’ve made your next vehicle choice, reach out to a Staebler Insurance Broker to get an accurate and free quote on your insurance. Brokers will shop the market for you and help guide your decisions to ensure you’re getting the best coverage at a sustainable cost.

. . .

Staebler Insurance is a general insurance broker specializing in car insurance, home insurance, small business insurance, and commercial insurance. Staebler Insurance Brokers proudly serve Kitchener, Waterloo, Cambridge, Guelph, Stratford, Listowel, Fergus, Elora, Wellington County, Perth County, Waterloo Region, the Greater Toronto Area, Golden Horseshoe, Niagara Region, and all over beautiful Ontario, Canada. 🍁 Get a Quote to get started today.