The most expensive city for car insurance in Ontario revealed
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It’s getting more expensive to drive a car in Ontario and rates in at least one city have jumped by nearly 40 per cent since 2021, a new report says.
It’s getting more expensive to drive a car in Ontario and rates in at least one city have jumped by nearly 40 per cent since 2021, a new report says.
Rising inflation, an ongoing shortage of vehicles and their parts, as well as an increase in car thefts are behind the hike, according Ratesdotca.
Those factors, paired with the fact more drivers are hitting the road as the COVID-19 pandemic appears to be in the rear view, show that auto insurance premiums across Ontario have increased by 12 per cent in the last two years.
In December of 2021, that last time Ratesdotca surveyed the province, the average estimated auto insurance premium was $1,555 based on sample quotes for a 35-year-old male driver with a clean driving record who drives a four-door sedan.
Now, the company estimates the average premium to be $1,744.
While that may seem like a lot, it’s cheaper than what auto insurance will cost you in Brampton.
That city tops the report’s top 10 list for most expensive cities in Ontario for auto insurance, where driving will cost you an estimated $2,707. In 2021, rates in Brampton were $1,976.
