By CRM Staff
Toronto, Ontario — February 26, 2019 —Drivers in the Greater Toronto Area continue to pay the highest auto insurance rates in Ontario.
According to Kanetix.ca’s InsuraMap, GTA drivers in the five most expensive cities are paying $500 to $1,000 more in insurance premiums compared to the provincial average of $1,473.
Ontario’s most expensive cities for auto insurance are: Brampton at $2,494, Vaughan at $2,128, Mississauga at $2,086, Richmond Hill at $2,033, and Toronto at $1,948.
Insurance premiums in Pickering, Whitby, Hamilton, and Ajax also surpassed the provincial average by hundreds of dollars.
The difference between the highest and lowest rates in Ontario is $1,487, with the lowest estimated rates being reported at $1,007.
“Auto insurance rates in the GTA continue to be the highest in the province,” says Janine White, VP of marketplaces and strategy at Kanetix.ca. “Traffic density, congestion, collision frequency, and increased repair costs due to vehicle complexity have a significant impact on the premiums drivers pay in the region. In the first 9 months of 2018 in Ontario, for example, insurers paid out $1.30 in repair and expenses for every dollar of physical damage insurance premium collected.”
Average insurance premiums in Ontario have increased by $157 since the end of 2017.
Drivers in the province can help cut down on their insurance rates by maintaining a clean driving record, purchasing home and auto insurance from the same provider, notifying your insurer that you have installed winter tires, and increasing your policy deductibles.
