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Best and Worst Ontario Cities for Car Insurance Prices in 2022

Posted Aug 11th, 2022 in CARINSURANCE, Did You Know?, General, In the News, Insurance Tips, Media

Best and Worst Ontario Cities for Car Insurance Prices in 2022

Although Ontario has some of the most expensive car insurance rates across Canada, many Ontario cities have seen decreases in their rates throughout 2022.

With gas prices and living expenses rising across Canada, many people are trying to save money anywhere they can. Fortunately, in Ontario this year, many cities have been experiencing a decrease in the cost of car insurance,  with an average drop of 3.8 percent! 

The average car insurance rate in Ontario in 2020 was $1,616, followed by $1,555 in 2021. Over the past two years with the increase in Work-From-Home policies and online schooling, there has been a decrease in cars on the road resulting in fewer car insurance claims. Experts also believe that fewer new drivers, caused by a backlog in the licensing testing schedules, as well as rebates from insurance providers also contributed to the cost drop.

Even in 2022, as everyone has been slowly returning to their normal routines and daily commutes, car insurance rates have continued to decrease in many cities.

An exception to this was the city of Oshawa, which saw a 12 percent increase in car insurance premiums, as well as the cities of Pot Hope, Napanee, Trenton, Cobourg, Picton and Belleville, which experienced a 6.5% year-over-year increase in their car insurance premiums, which were re-estimated at $1,175. 

Brampton has previously been known to be the most expensive city in Ontario for car insurance premiums but no longer holds this title. Brampton has experienced the most significant drop in Ontario, 27% from 2020 to 2021. Vaughn has now claimed the title of most expensive city in Ontario to insure a car with its average annual car insurance premium at the high price of $2,179.

RATESDOTCA has compiled a Top Ten list of Ontario cities with the most and least expensive car insurance rates.

What City in Ontario Has the Highest Car Insurance Rate in Ontario?

1.     Vaughn at $2,179
2.     Ajax at $2,104
3.     Richmond Hill at $2,025
4.     Brampton at $1,976
5.     Mississauga at $1,971
6.     Pickering at $1,959
7.     Toronto at $1,953
8.     Oshawa at $1,833
9.     Whitby at $1,792
10.  Nobelton, Schomberg, Orangeville, and King City tied at $1,766

What City Has The Lowest Car Insurance in Ontario?

1.     Kendal at $1,271
2.     Port Hope at $1,175
3.     Brockville, Amherstview, Iroquois, Martintown, Elizabethtown, Cornwall, Kingston, and Gananoque all tied at $1,132

Why Does Location Affect Car Insurance Rates?

You may have noticed the most expensive cities list is filled with busy, highly-populated cities, while the most affordable list consists mostly of smaller rural towns. This is no coincidence. When living in a rural city, your risk of car theft and damage decreases, and your car insurance rates correlate with this risk. Insurance companies evaluate the statistics of car accidents, thefts, burglaries, vandalism, and insurance fraud within the area you are living. With the higher rates of traffic and crime in heavily populated cities, you are more likely to make an insurance claim when living there, so your rate may be higher.

What Factors are Considered When Determining Car Insurance Rates?

Your location is not the only factor that will be used to determine your car insurance rate. Insurance companies may also consider the following factors:

-Your driving record, including previous claims, convictions, and suspensions history

-The make and model of your vehicle

-Your age

-Your gender

-Daily and annual mileage 

-What you use your vehicle for (personal, business, or commercial)

-Additional individuals on your policy

-The age of your vehicle (newer cars are often more costly to replace, so, therefore, may be more costly to insure)

-Marital status (this mainly applies to males under 25. If you are a male, under 25 years old and married, your car insurance rates may be lower)

-The number of years you have been continuously insured without a lapse

The price will also be influenced by what type of coverage you select, as well as any additional add-ons. At Youngs Insurance Brokers, we believe it is imperative to have a $2 million liability limit or greater on your car insurance policy. 

What Can You do to Save Money on Car Insurance?

The solution to saving money on car insurance is not to move locations solely because of your high rate, however, if you are in the process of finding a new location to live, your estimated car insurance rate is a great element to factor into your decision. If you do happen to live in a busy city in Ontario with a high average car insurance premium, there are many ways you can save money on your car insurance policy, besides moving across the province!

Bundle Home & Auto Policies

By bundling your home and auto insurance policies with Youngs Insurance Brokers you may be able to save up to 30%. Along with savings, bundling your policies makes for a smoother claims process. Get your quote in just 1 click now!

Be a Careful Driver

Being a cautious driver should already be your number one priority, while savings is just an added bonus. Any collisions you are involved in can be dangerous, but they may also increase your car insurance premiums, so driving carefully will reduce your risk of claims, helping you save money on your insurance.

Install Winter Tires

Installing winter tires is a great way to not only increase your safety on the roads in the winter months but also save extra money on your car insurance policy. Many insurance companies have discounts for those who install winter tires. Be sure to install them at the beginning of the winter season for full protection and benefits!

Improve Your Credit Score

As mentioned above some insurance companies may consider your credit score when determining your car insurance premium. The thought is that individuals who have a good credit score make responsible life choices and will be less likely to file insurance claims.

Consider Installing an Anti-Theft Device or Alarm System in Your Car

Some insurance companies may offer a discount if you provide proof of an anti-theft device or alarm system that is installed in your car.

Access Group or Professional Discounts

If you are a member of a professional organization, you may be eligible for a discount on your car insurance premium. At Youngs Insurance Brokers, we offer Group Home & Auto insurance to thousands of members of associations and/or their employees across Ontario.   

As a member of a group that has partnered with Youngs Insurance Brokers, you and your family members can enjoy the exclusive benefits and savings through preferred group premium rates. 

To find out if your company has a group program in effect, contact your employer or supervisor or contact the Youngs Insurance Group department today. 

Speak with Your Ontario Insurance Broker

One of the many advantages of working with an insurance broker is that they have access to and relationships with many insurance companies. Your insurance broker will use their experience, knowledge, and connections to find you the best possible coverage, at the best price possible. 

Choose Your Next Vehicle Wisely

If you are going to purchase or rent a new vehicle in the future, consider choosing a vehicle that is identified as being affordable to insure. You may also want to consider a vehicle that has a high safety rating, as they are often more affordable to insure.  

Choose an Electric or Hybrid Car

Not only will an electric or hybrid car help with saving money on gas, but you may also qualify for a green discount from your insurance company. Speak with your insurance broker to learn more.

Although your location in Ontario may heavily impact your car insurance rate, there are many other ways you can save! Youngs Insurance Brokers assesses each individual’s driving situation to determine the best car insurance policy to ensure your coverage perfectly matches your driving experience and lifestyle. Speak with a Youngs Insurance Broker today to get the best-customized car insurance policy designed just for you!

 >> Speak with A Youngs Insurance Broker Today! 

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Disclaimer: The information provided on this blog is for educational purposes only and is not intended as professional insurance advice. The coverage, terms, and conditions of each insurance policy are unique and subject to individual circumstances. The information provided does not guarantee the availability or suitability of any insurance policy for your specific needs. You should not rely on the information in the blog as an alternative to professional advice from your insurance broker or insurance company. If you have any specific questions about any insurance matter, please consult a licensed insurance broker for personalized advice and guidance.

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