Get Free Quotation Buy Online Now. That works out to an average monthly Auto Insurance cost of approximately 163 in Toronto for a.
Driving up and down the 401 doesnt come cheap.
What is the average car insurance in toronto. Residents who live outside of the downtown core or in midtown may be paying as much as 1305 more for auto insurance per year than their fellow Torontonians. Ad Extensive Motor Insurance Policy. Ontariothe most populous provinceis the second most expensive province when it comes to car insurance.
At the age of 25 the drivers average rate is less than half of the lowest rate when they turned 18. For example the average car insurance rates in Ontario are 1920 per year but annual insurance premiums are only 912 in Quebec and 1092 in Nova Scotia. This is not because women statistically have been less likely to be in a car accident but when they are in one it is less costly than accidents that men are in.
How Much is Car Insurance in Toronto. Here are some things that can impact your rates. GTA cities are the most expensive for car insurance in Ontario.
First of all our driver is a man. If you live in Toronto we bet its more than the provincial average of 1505 reported by the Insurance Bureau of Canada IBC or the 1664 the provinces regulator says Ontario drivers pay. Estimated premiums in some parts of Toronto range from 2202 to 3000 per year.
This can make it easier for those who cannot afford to pay the lump sum annual premium all at once. For younger drivers student-away discounts save 18 on average though it can be much higher up to 23. However car insurance rates vary significantly across Canada.
Do Car Insurance Companies Share Information. Where you live in the province. The average annual cost of car insurance premiums in Toronto is 2071.
Get Free Quotation Buy Online Now. Ajax is at number. Auto home bundle discounts earned a 14 savings on average according to the analysis.
Comparing these to provincial averages Torontos best auto insurance rates approximately match the average rate for the entire province. Between the ages of 18 and 21 the average rate goes down by over 100 per month every year. The average auto insurance in Ontario is over 1500 a year.
Well annual car insurance premiums in Ontario can be compared to a few things 1222 medium coffees at Tim Hortons. For example the average cost for Toronto car insurance is just over 2000 annually. Many people prefer to pay their car insurance premiums monthly.
In Brampton it is about 2400 annually which is the highest in the province. This works out to about 172 per month. Although 1500 to 1900 represents the average car insurance in Ontario there are many factors that can influence your own rates.
According to the Insurance Bureau of Canada the average cost of car insurance in Ontario is 1505. 44 per cent ahead of the Ontario average. In fact a RATESDOTCA report estimates the typical Toronto driver pays an average of 2201 for their car insurance.
The best rates for this driver depending on specific postal regions in the city drop as low as 1100 while the most expensive regions approach or exceed 2000. But if you live in Toronto expect to pay more than the provincial averagea large population means more cars on the road which means a higher likelihood of collisions theft and fraud. Toronto is number four on the list at 27 per cent above average.
In Toronto the average premium was 2201 in 2020 up by 129 from 1948 per year in 2018. However this is not an average driver in a lot of ways. To no ones surprise Toronto has some of the highest car insurance rates in the province.
Unfortunately for the millions of drivers in Toronto and Ontario Auto Insurance rates have risen considerably with premiums in Toronto averaging 27 percent higher 2017 for a 35-year-old than the already-high provincial average of 1538. And its a serious time and money saver. This is close to 500 more than the provincial average of 1634.
The average monthly cost of car insurance will depend on the cost of your total annual premium. The average annual insurance payment in Ontario for men is 1968 and 1836 for women. 125 per month is the average cost per month for vehicle insurance in Ontario.
Depending on where you live your rates could vary by hundreds of dollars annually. Some people will actually pay substantially more every year to insure a vehicle. Ad Extensive Motor Insurance Policy.
Being accident-free which means youve had no accidents during the past three to five years nets a car insurance discount of 26 on average.