The Most Expensive (And Cheapest!) Areas For Car Insurance in Toronto

If you live in the north end of the city, whether it's the east end or west end, chances are you're paying more for your insurance then those living in the city's centre and midtown.

Average Auto Insurance Rate in Toronto

Kanetix.ca's InsuraMap lets you compare auto insurance rates from across the city to determine the most expensive, and affordable, areas for auto insurance in Toronto. What does InsuraMap show us this year? Well first, it tells us that the estimated average annual Toronto car insurance rate to be about $1,886, but there is a huge range in rates depending on where in the city you live. And, compared to the provincial average ($1,448), Toronto auto insurance rates as a whole are about 30 per cent higher.

What Affects Your Auto Insurance Rate?

Where you live has a direct impact on your rates. Some neighbourhoods have higher levels of auto theft, while others contain intersections that are more prone to collisions. Insurance companies study statistical data and determine how factors may affect a driver's rate regardless of their personal driving and insurance histories.

However, your personal driving record and insurance history also have an impact. Your insurance provider's claims experience, the type of vehicle you drive, when and where you drive your car, and other variables such as the age and experience of any drivers on the policy are also taken into consideration.

This is why drivers are encouraged to shop around for car insurance and compare rates. A better deal is often waiting around the next bend.

Top 10 Most Expensive Car Insurance Rates in Toronto

According to Kanetix.ca's InsuraMap, the following are the most expensive areas to insure a car in Toronto.

The Most Expensive Areas for Car Insurance in Toronto

Two of the most expensive areas, M1B and M9V, happen to contain intersections with some of the highest collision rates in the city based on a 5-year period from 2009 to 2013 (the most current information available): Islington Avenue at Albion Road, and Sheppard Avenue at Morningside Road. It's possible this may contribute to higher insurance rates in these specific neighbourhoods.

The Cheapest Car Insurance Rates in Toronto

We can't do a most expensive list without looking at the cheapest neighbourhoods in Toronto as well. Based on InsuraMap information, in each of the following areas the estimated premiums come in around $1,640 a year.

The Least Expensive Areas for Car Insurance in Toronto

You Are Probably Paying Too Much For Car Insurance!

No matter where you live in Toronto, chances are you are probably paying too much for your car insurance coverage. And, just because you live in an expensive city doesn't mean you have to pay expensive rates. The following tips will help you spend less on your auto insurance premiums:

  • Maintain a clean driving record.
  • Bundle your auto insurance and home insurance policies to see savings of 5 to 15 per cent.
  • Install winter tires and save up to 5 per cent.
  • Increase your deductible and save up to 10 per cent, just make sure you can cover the amount in the event of a claim.
  • Pay your premiums annually, in one lump sum, instead of monthly to avoid the extra fee that many companies charge to administer payments each month.

Lastly, it goes without saying that we're keen on comparison shopping, but it is absolutely one of the easiest ways to save. Kanetix.ca customers, for example, save an average of $750. We shop the market to help you find the lowest rate and get your coverage. Know for certain that you're getting the best deal possible today, and compare car insurance quotes at Kanetix.ca.

Back to top