Most and least expensive Ontario cities to buy car insurance revealed
Ontario has some of the highest car insurance rates in the country, but for the first time in a long time premiums are actually coming down.
"It's definitely good news," Tanisha Kishan, insurance expert with RatesDotCa, told CTV News Toronto.
With so many people still working from home during the second year of the pandemic and traffic remaining light on many highways, car insurance premiums in Ontario have dropped an average of 3.8 per cent.
"A lot less vehicles on the road equals a lot less claims, which translates into premium decreases for consumers," Kishan said.
According to RatesDotCa, the average Ontario auto insurance premium in 2020 was $1,616. Last year it dropped to $1,555, a 3.8 per cent decrease.
The City of Brampton, which has long held the title as the most expensive city in Ontario to insure a car, saw the largest decline in premiums of 27 per cent.
"I think that Brampton premiums were high for so long they just had the most room to fall," Kishan said.
The city with the most expensive auto insurance in the province is now Vaughan, with an estimated annual premium of $2,179.
It's followed by Ajax, Richmond Hill, Brampton and Mississauga.
Despite being the most expensive, all five cities still saw a reduction in rates.
The Financial Services Regulatory Authority of Ontario (FSRA) has approved more than 100 rate reductions and 42 various rebates during the pandemic.
"We would definitely agree that rates have stabilized and in many cases are quite a bit lower," said Tim Bzowey, Executive Vice President of Auto Insurance Products at FSRA.
While not every driver will see a reduction in rates, it may be advisable to shop around to find a better deal.
"Rates vary a lot from insurer to insurer, so please shop around to make sure you are getting the best rate available to you at the time," said Bzowey.
Not every city saw decreases and one of the largest hikes in the province took place in Oshawa, where insurance premiums jumped 12 per cent.
Among the most inexpensive places to insure a car were in Cobourg, Port Hope, Picton and Kingston where each had an average annual premium of about $1,100.
FSRA said the lower rates won't last forever as it's expected when the pandemic ends and driving habits return to normal premiums will start to creep back up.
Top ten most expensive cities in Ontario for car insurance
- Vaughan $2,179
- Ajax $2,104
- Richmond Hill $2,025
- Brampton $1,976
- Mississauga $1,971
- Pickering $1,959
- Toronto $1,953
- Oshawa $1,833
- Whitby $1,792
- Nobleton, Schomberg, Orangeville, King City $1,766
Cheapest cities in Ontario for car insurance
- Kendal $1,271
- Port Hope $1,175
- Amherstview $1,132
- Brockville $1,132
- Iroquois $1,132
- Martintown $1,132
- Elizabethtown $1,132
- Cornwall $1,132
- Kingston $1,132
- Gananoque $1,132
CTVNews.ca Top Stories
What Michael Cohen said on the stand in Trump hush money case
The star prosecution witness in Donald Trump's hush money trial took the stand Monday with testimony that could help shape the outcome of the first criminal case against an American president.
Western University researchers unlock potential 'cure' for ALS
New research out of London, Ont.’s Western University is shedding light on a potential cure for ALS, in which the targeting of the interaction between two proteins can halt or fully reverse the disease’s progression.
Collapsed Baltimore bridge span comes down with a boom after crews set off chain of explosives
Crews conducted a controlled demolition Monday to break down the largest remaining span of the collapsed Francis Scott Key Bridge in Baltimore.
Police release 3D images of young child found in an Ontario river two years ago
Police have released a three-dimensional image of a young child whose remains were discovered in the Grand River in Dunnville, Ont. almost two years ago.
Kamala Harris drops F-bomb during White House live-stream
U.S. Vice-President Kamala Harris used a profanity on Monday while offering advice to young Asian Americans, Native Hawaiians and Pacific Islanders about how to break through barriers.
Behind the barricades: How protesters spend their first days in a new encampment
Students in Montreal describe life in a newly erected encampment in Montreal as a whirlwind of preparations, from facing rain and a potential police crackdown to setting up a space for the exchange of ideas.
Security video caught admitted serial killer disposing of bodies in Winnipeg garbage bins
Security video caught admitted serial killer Jeremy Skibicki on multiple late-night outings, disposing of body parts in nearby garbage bins and dumpsters in the middle of the night.
Canucks' Soucy suspended 1 game, Zadorov fined $5,000 for post-game crosschecks on McDavid
A Vancouver Canucks defenceman has been suspended for a game and another was handed a hefty fine after a scrum broke out at the end of Game 3 against the Edmonton Oilers Sunday night.
'Judge Judy' Sheindlin sues for defamation over National Enquirer, InTouch Weekly stories
'Judge Judy' Sheindlin sued the parent company of the National Enquirer and InTouch Weekly on Monday for a story that she said falsely claimed that she was trying to help the Menendez brothers get a retrial after they were convicted of murdering their parents.