What city has the highest insurance rate in Canada?

Asked by: Abigail Rippin  |  Last update: February 11, 2022
Score: 4.7/5 (10 votes)

The city with the most expensive auto insurance in the province is now Vaughan, with an estimated annual premium of $2,179. It's followed by Ajax, Richmond Hill, Brampton and Mississauga.

What city has the highest car insurance rate?

Albans, New York, the country's most expensive city for car insurance according to our research, pay 487% more per year for full coverage than drivers in the country's cheapest city, Findlay, Ohio.

Why is insurance in Ontario so high?

On average, Canadian insurers are paying out as much in claims as they're earning in revenue. ... Insurance fraud, increasingly severe weather, and a handful of secondary factors have raised the cost of insurance in Ontario over the last two decades.

Which city has lowest insurance in Ontario?

Drivers in the City of Kingston have reason to celebrate. Insurance rates website Ratesdotca has come out with its annual list of insurance rates based on city, and Kingston stands out as the cheapest place to drive.

Is car insurance cheaper in BC than Ontario?

Is Car Insurance Cheaper In BC Than Ontario? No. British Columbia has earned the reputation for being the province with the highest insurance rates.

British Columbia will soon have the highest car insurance rates in Canada

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Why is insurance so high in Alberta?

Power said the increases are due to a number of factors: built-in vehicle technology is expensive to repair, distracted driving is on the rise, and Alberta's weather is changing. All of these factors have increased the amount of consumer claims and their associated costs, she said.

Which Canadian province has the cheapest car insurance?

Among the 10 provinces, insurance rates vary considerably, with Quebec holding the lowest average premium and British Columbia (B.C.) registering the highest figure.

Who pays the highest car insurance?

Insurers generally charge more if teenagers or young people below age 25 drive your car. Your gender – Statistically, women tend to get into fewer accidents, have fewer driver-under-the-influence accidents (DUIs) and—most importantly—have less serious accidents than men.

Is car insurance cheaper in Mississauga than Brampton?

A report by LowestRates.ca confirms that Mississauga is one of the most expensive places in the province for auto insurance. Rates are 50 per cent above Ontario's average price. ... Brampton (123.5% more expensive than Ontario's average) Scarborough (83.6% more expensive than Ontario's average)

Is car insurance cheaper in Hamilton than Toronto?

Is Car Insurance Cheaper In Hamilton Than Toronto? Yes. Even though rates can be expensive in Hamilton, they are still more affordable than Toronto car insurance and rates in other cities in the province.

How much does it cost to insure a car in Ontario?

The average auto insurance cost in Ontario is $1,634 per year. Most drivers pay in the range of $1,300 to $1,800 annually. Rates are higher or lower depending on your location, the type of vehicle you drive, driving history and many other factors.

Is car insurance more expensive in Ontario?

Ontario – $1,528

Ontario—the most populous province—is the second most expensive province when it comes to car insurance. Driving up and down the 401 doesn't come cheap; the average auto insurance in Ontario is over $1,500 a year.

How much is the car insurance in Toronto?

How much is car insurance in Toronto? The average cost of car insurance in Toronto is roughly $2,000 per year, or about $170 per month.

Which place has the highest insurance rates?

Detroit has the distinction of having the highest car insurance rates in the country, 284.1% more than the national average.

Is insurance cheaper in the city or country?

The cost of insurance is likely to be much lower for cars based in rural areas because the majority of accidents happen in towns and cities and crime rates are statistically higher in urban areas.

How much is car insurance in Mississauga?

What Is The Average Cost Of Mississauga Car Insurance? The average car insurance rate in Mississauga is $2,086 per year. This makes it one of the top 5 most expensive cities to buy insurance. The average Ontario driver pays about $1,634, so Mississauga drivers pay over $400 more per year for their auto insurance.

Why car insurance is expensive in Brampton?

Rates.ca says it cost $1,976 last year for the average driver in Brampton to insure their vehicle. ... It is believed that the COVID-19 pandemic has factored into the decline in premiums, thanks to an increase in remote work and a commensurate drop in collisions and insurance claims.

Is car insurance higher in Toronto?

Toronto is one of the costliest cities when it comes to auto insurance premiums, as Torontonian motorists pay an average of $2,201 per year. Torontonians who live in the downtown core or midtown can expect to pay even higher auto insurance rates, which range from $2,202 to $3,000 per year.

Who pays more for car insurance males or females?

For the most part, men and women pay about the same amount for car insurance. For typical adult drivers, we found only a slight difference between the cost of insurance between men and women. We found a price difference of less than 1% between men and women in their 30s.

Where do insurance companies get money?

Most insurance companies generate revenue in two ways: Charging premiums in exchange for insurance coverage, then reinvesting those premiums into other interest-generating assets. Like all private businesses, insurance companies try to market effectively and minimize administrative costs.

What age group pays the most for car insurance?

Your age is one of the biggest drivers of your car insurance rate. Young male drivers tend to pay the most for car insurance, with 18-year-old men paying an average of $5,650 per year for full coverage, according to 2021 rate data pulled from Quadrant Information Services.

Is BC insurance more expensive than Alberta?

A study conducted by MNP on behalf of the Insurance Bureau of Canada, a group advocating for private insurance companies, found British Columbians are paying up to 42 per cent more for insurance compared to Alberta drivers. ... “The big difference between Alberta and B.C. is who you are buying your insurance from.

Which Canadian provinces have no-fault insurance?

Currently there are six provinces operating under a no-fault insurance system:
  • Ontario.
  • Nova Scotia.
  • New Brunswick.
  • Quebec.
  • Prince Edward Island.
  • British Columbia.

Is insurance more expensive in Alberta?

Are the car insurance premiums in Alberta higher than in Ontario? According to the most recent numbers from the Insurance Bureau of Canada, Alberta is the third most expensive province for car insurance, after British Columbia and Ontario.