auto-insurance

The Most Expensive Cities in Ontario for Auto Insurance

The popular comparison site RatesDotCa recently announced their official list of the most expensive cities in Ontario for auto insurance, updated for 2023.

The various costs for insurance companies are on the rise, as vehicle parts shortages and inflation are threatening to increase the value of claims. RatesDotCa said a rise in car theft and some more severe claims could also be factors. The average cost in Ontario for an insurance premier now $1,744 per year, RatesDotCa announced.

Brampton, where residents have to suffer sky-high auto insurance premiums, saw the average premium cost rise a whopping 37%. Brampton was once again the most expensive location for auto insurance in Ontario at an average annual cost of $2,707. At $2,325 per year, Toronto was found to be the second-most expensive city in 2023, and Mississauga was in third place at $2,311 per year. The average insurance rate in Toronto rose by 19%, according to RatesDotCa.

The top 10 cities for high insurance premiums, according to RatesDotCa, is shown below.

The Most Expensive Cities in Ontario for Auto Insurance

1. Brampton ($2,707)
2. Toronto ($2,325)
3. Mississauga ($2,311)
4. Richmond Hill ($2,188)
5. Vaughan ($2,158)
6. Pickering ($1,985)
7. Markham ($1,870)
8. Oshawa ($1,839)
9. Hamilton ($1,810)
10. Schomberg, King City, Stouffville, Aurora, Nobleton ($1,801)

Did YOUR hometown make the Top 10 list of the most expensive cities in Ontario for auto insurance?

If you’re looking for a great insurance rate in Southern Ontario and are interested in speaking with one of our licensed insurance brokers, please give us a call today at 1-877-454-4476 or submit a quote request through our quote page. Whether it’s for your auto, home, commercial business or farm, we have the markets to suit your needs!

By Dan McDonald, Marketing Coordinator