October 10, 2017 by Staff
Brampton, Vaughan and Mississauga are the most expensive cities in Ontario for car insurance, according to research by Kanetix.ca.
The company conducted research on car insurance premiums in Ontario cities based on the assumption that the hypothetical insured is a 35-year-old driver of a 2014 Honda with a clean driving record.
Kanetix.ca found that the provincial premium average is $1,316 but that many cities in the Greater Toronto Area exceed that amount. Brampton is the most expensive Ontario city for car insurance with an estimated premium of $2,268; Vaughan comes in second place with $1,825; and Mississauga makes the podium with $1,788.
Markham, with an estimated premium of $1,785, and Toronto, with an estimated average premium of $1,743, round out the top five. The research notes that 22 Toronto neighbourhoods, such as parts of Scarborough, likely have residents that pay $2,000 or more for their auto insurance.
Other Ontario cities whose estimated insurance premiums are higher than the provincial average include Richmond Hill ($1,709), Ajax ($1,519), Hamilton ($1,497), Pickering ($1,450), and Whitby ($1,399).
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“With more drivers on the road, it comes as no surprise that six out of 10 of the province’s most populous cities are listed (Toronto, Mississauga, Brampton, Hamilton, Markham, and Vaughan),” notes Kanetix.ca’s announcement.
But the company reminds consumers that population does not solely determine insurance rates and that high numbers of claims and expensive claims within a particular region are good indicators of premium levels.
Kanetix.ca also published the list of cities in which estimated premiums are among the lowest in the province. These include Kingston, Cornwall, Brockville, Cobourg, and Belleville, which can lay claim to estimated premiums ranging between $850 and $900 per year.
This story was originally published by Canadian Insurance Top Broker.