Keep reading as we dive into the numbers throughout Canada ’ s most populous province, including average insurance rates for newfangled drivers in Ontario .
Average Car Insurance Cost in Ontario
Based on our data, Ontarians pay an average of $ 1,445 for car insurance each year as of 2020. This is well higher than the national median of $ 1,016. It ’ second besides up 1.58 % from the average of $ 1,505 anterior to February 2020.
How Much Is Car Insurance Per Month in Ontario?
many policy providers in Ontario simply divide your annual bounty by 12 when determining your monthly payments. This would mean the average price of cable car indemnity in Ontario per calendar month is $ 120.41 .
How Much Is Car Insurance Per Month in Canada?
See the list below for a breakdown of typical monthly cable car indemnity costs across Canada, based on our data and the calculation method acting used above .
- British Columbia: $123.33
- Ontario: $120.41
- Alberta: $104.25
- Newfoundland & Labrador: $94.33
- Manitoba: $90
- Northwest Territories: $81.5
- Nunavut: $80.25
- Saskatchewan: $78.83
- Nova Scotia: $70.16
- New Brunswick: $68.25
- Yukon: $67.66
- Prince Edward Island: $66.33
- Quebec: $55.08
You can besides learn more about what happens to car policy when you are moving to another state here .
How Much Does Insurance Cost for a New Driver in Ontario?
average insurance rates for young ( 16-24 ) new drivers in Ontario fall within the $ 3,000 to $ 7,000 range. New drivers aged above that bad bracket will typically pay rates that deviate less drastically from the peasant median ( $ 1,455 ) .
Keep in mind, it ’ s not good the duration of your drive record that matters. Click here to read more about the experience-related factors insurance companies take into report. One of these factors, notably, is your ticket history. As you might expect, more tickets for moving violations will lead to higher indemnity rates .
Young newfangled drivers can save money on insurance by being listed as a junior-grade or occasional driver on a parent ’ second policy. In addition to waiting until they ’ rhenium older to purchase a fomite of their own, they can make certain to progress through Ontario ’ randomness graduated licensing system a promptly as possible .
Why Average Auto Insurance Rates in Ontario Are So High
now, you may be wondering why the average price of cable car indemnity in Ontario per calendar month is so much higher than elsewhere in the area. Let ’ s count at the major reasons .
Higher Rates of Insurance Fraud
These costs get passed onto consumers ; according to one CBC report, 9 % to 18 % of the distinctive Ontarian ’ randomness indemnity premium goes directly towards offsetting the monetary value of deceitful claims that was besides discussed in this post .
Urban Hotspots Skew the Numbers
Ontario is home to one of North America ’ s most densely-populated metropolitan regions – the Greater Toronto Area. Research has shown that residents of any such populous area experience higher incidences of car accidents .
As a consequence, they pay higher premiums that subsequently skew numbers for the entire province .
Brampton, for example, has an median annual bounty price exceeding $ 2,300. Its population of 603,000 means its average indemnity premium is weighted heavier at the province grade than, say, Dufferin County ’ south ( population : 61,000 ) $ 1,200 .
Ontario’s Insurance Laws
Another reason for the high average cost of policy in Ontario is that the provincial government mandates higher minimum coverage than you ’ d find in many other regions of North America .
For example, Ontario law requires that drivers have third-party liability coverage of no less than $ 200,000. many insurers go well beyond this and recommend coverage of at least $ 2 million, which costs more .
In Quebec, meanwhile, drivers are only required to have $ 50,000 of third-party indebtedness coverage. This is one reason they pay the lowest premiums in Canada, on average .
Factors That Determine Car Insurance Rates
now that you know about average car indemnity costs in Ontario and why they ’ re thus high, let ’ s take a closer look at the person factors that determine what rate you end up with. Keep in mind these factors use even to impermanent car insurance such as policies accompanying car rentals .
Your Driving Experience in a Relevant Country
While we touched on the importance of driving have earlier, that death part is authoritative. unfortunately, many policy companies do not count driving experience if it was earned in a area not among a choice few .
If you fall under this scenario, you ’ five hundred be considered a modern driver and pay the higher premiums associated with that .
Your Age
Drivers aged 16-19 are at a higher risk of accidents than those in any early bracket, according to the U.S. Center for Disease Control and Prevention. A driver ’ randomness rate will still typically remain quite high until they reach the long time of 25. As one reaches elder citizen status, rates typically start to rise again. Cheap indemnity for seniors beyond the old age of 70 is unmanageable ( but not impossible ) to find given increased risk factors .
Where You Live
Ontario is a huge place. Drivers in rural areas face a different dress of risks than those in cities, hence the discrepancy between rates .
As a slope note, while accidents are more common in cities, they tend to be more black in rural regions .
Your Gender
male drivers are statistically more heedless than their female counterparts, accounting for a stagger 87 % of intoxicated driving fatalities in Canada. even men who give no indication early than their gender of being at gamble for driving intoxicated will pay higher rates to cover for the risk.
The Vehicle You Drive
Costlier vehicles cost more to repair. It ’ s a no brainer ! Beyond price, though, insurance companies besides look at whether the type of fomite you drive is frequently stolen or involved in accidents. It besides matters whether your vehicle is financed or leased .
Your Vehicle Usage
The come of driving you engage in is another factor insurance companies consider when calculating your premiums. naturally, the more you drive, the more likely you are to get into an accident .
Insurers will besides take into account how you use your vehicle. If you ’ ra repel to work every day or using the vehicle commercially, you ’ ll pay a higher bounty. Some insurers besides determine usage-based rates through telematics. Read more about this here .
Whether You Use Winter Tires
lake ontario has very coarse winters. Winter tires greatly reduce the likelihood of accidents, which is why insurance companies offer discounts for drivers that use them .
How Accidents Affect Your Insurance Rates in Ontario
An accident won ’ thyroxine necessarily impact your policy premiums. For case, if another driver is involved and determined to be at mistake, your rates will remain unaffected by the incident .
Your rate can silent rise for other reasons ( i.e. if your accident was part of a tendency in your area or for your fomite ) but it won ’ deoxythymidine monophosphate be because of the accident itself .
If you ’ re at defect, however, your rates may be affected and the accident will remain on your phonograph record for arsenic long as 10 years in Ontario. The exception would be if it ’ s your inaugural accident and your indemnity policy includes forgiveness .
If your premiums do rise, they may do then by more than 30 % depending on the circumstances. This may place you well higher than the average cost of car insurance in Ontario .
How Surex Helps Ontarians Find the Best Car Insurance Rates
Shopping for indemnity can be a challenge. even though you know the average car insurance rates in Ontario, individual providers weigh diverse factors differently, which means your rates will probably vary substantially from company to company .
At Surex, we ’ ll aid you find the most low-cost policy based on your position. Our brokers have helped thousands of Ontario residents. This experience allows us to help you find the best rates promptly. For exemplar, if you happen to live in any of these cities, you can get your quote right now for car indemnity in Markham, Ontario, cable car indemnity in Guelph, Ontario, car insurance in Oshawa, Ontario, cable car policy in Barrie, or for cable car indemnity in London, Ontario !
Learn more about how our serve works here .
Frequently Asked Questions
What are the cheapest cars to insure in Ontario?
The list of bum cars to insure in Ontario changes regularly based on the latest statistics. presently, however, it includes the postdate cars :
- Kia Sorento
- Mazda CX-5
- Hyundai Kona
- Toyota Corolla
- Kia Forte
- Honda Civic
- Hyundai Elantra
- Toyota RAV4
Who has the best insurance rates in Ontario?
No single party can boast of having the lowest rates in Ontario given how much things can vary based on individual factors. Start a quote with Surex to find out which ship’s company is the cheapest for you .
Does getting your G license lower your insurance?
Getting your G license will result in a lower premium than you otherwise would have had .
Which city in Ontario has the cheapest car insurance?
Drivers in Belleville pay among the state ’ sulfur lowest policy rates, falling between $ 950 and $ 1400 per class .