Insurance rates across Canada are in part dependent on where exactly you live – right down to the postal code. While a Torontonian is likely to pay higher insurance premiums than if they lived in rural Ontario, the differences on a provincial scale are even more significant.
Insurance premiums are higher in Ontario than any other province in Canada, followed by Alberta, New Brunswick, and British Columbia. It’s no myth that your insurance is largely dependent on where you live- with a difference totaling more than $1000 in average premiums from Ontario to PEI.
No matter where you live, auto insurance is the law in Canada but there’s no reason to pay more for it than necessary. Here are just a few tips to help you keep you car insurance costs down:
- Drive carefully; a clean driving record is an affordable driving record
- Drive within the law to avoid tickets; this should be common sense for anyone and everyone behind the wheel
- Drive a car that costs less to insure; that ride that costs more than you make in a decade may be a poor choice
- Compare your car insurance costs with a free online quoting service; free, easy to use, and will give you a look at what’s available from competing insurers
Of course, prices within any given province can vary wildly depending on location; for example, average auto insurance premiums in Oshawa, Ontario are higher than those in Ottawa by more than $600. Similarly, motorists in Quebec City pay an average of $737 annually, while their Montreal neighbors face an average of $928. Differences even within a city can vary significantly; anyone who has moved from one neighbourhood to another can attest to it.
The following infographic – with provincial data provided by the Fraser Institute – breaks down the average car insurance premiums by province, a number of cities within these provinces, and, of course, how that translates to medium-sized Tim Horton’s coffees (you know, for some tangible context).
How much does insurance differ from province to province?
Top 3 Most Expensive Auto Insurance Premiums by Province:
- New Brunswick
Average Insurance Premiums from 3 Canadian cities (broken down by Tim Horton’s coffees!)
- Oshawa, Ontario – 1563 medium coffees ($2189)
- Edmonton, Alberta – 1109 medium coffees ($1552)
- Charlottetown, Prince Edward Island – 631 medium coffees ($884)
There you have it folks! No matter where you live, auto insurance is the law in Canada but there’s no reason to pay more for it than necessary. While a clean driving record is an essential component to getting the best priced auto insurance, where you live is a factor many might not consider – which they should start doing next time they’re considering changing insurers, moving residences, or purchasing a new vehicle.