NEWS PROVIDED BY

Kanetix.ca

TORONTOOct. 10, 2017 /CNW/ – There are a lot of variables that go into determining your car insurance premiums including your driving record, insurance history, the make and model of your vehicle, and how likely it is to get stolen to name just a few. Another important factor that matters is where you live. But how much does where you live truly matter?

When all else is equal, except the postal code, Kanetix.ca’s InsuraMap charts out how significantly premiums can vary depending on where you live.

2017’s most expensive cities for auto insurance in Ontario

If you live and drive anywhere in the Greater Toronto Area (GTA), chances are you’re paying a lot for your auto insurance coverage. Provincially, the average comes in at about $1,316, yet many cities in the GTA exceed the provincial average.

The most expensive cities for auto insurance in Ontario are:

City

Estimated Premium

Brampton

$2,268

Vaughan

$1,825

Mississauga

$1,788

Markham

$1,785

Toronto

$1,743

Premiums in Richmond HillAjaxHamiltonPickering, and Whitby also exceed the provincial average. To view the full list, along with the estimated premiums for each city that made the top 10, click here.

2017’s most expensive neighbourhoods for car insurance in Toronto

As Canada’s largest city, it’s estimated that the city average for auto insurance premiums comes in at $1,743 per year. However, there are 22 neighbourhoods in Toronto where residents likely pay $2,000 or more; and, some of the most expensive premiums are found in parts of Scarborough.

The most expensive areas in Toronto for car insurance are found within the following postal codes:

Postal Code Starting With

Neighbourhood

Estimated Premium

M1S

Agincourt North

$2,384

M1V

Milliken

$2,384

M1W

L’Amoreaux

$2,384

M1B

Malvern

$2,313

M1X

Rouge

$2,313

To view the map that shows where premiums exceed $2,000 a year and to see which neighbourhoods pay the least for their auto insurance coverage, click here.

About InsuraMap

InsuraMap is an interactive tool, which lets drivers see how rates compare to other parts of their city or province. It is available to drivers in OntarioAlbertaQuebecNew BrunswickNova Scotia, and Prince Edward Island.

All estimated premiums are based on a 35-year-old driver of a 2014 Honda with a clean driving record.

About Kanetix.ca

Launched in October 1999Kanetix.ca was Canada’s first online insurance marketplace and today provides over a million quotes per year to consumers looking for insurance, as well as comparisons for mortgage rates and credit cards.

The Kanetix.ca comparison service is a one-stop shopping environment for consumers. Each day, thousands visit the Kanetix.ca website to comparison shop their various financial needs. Shoppers choose what they want to compare, obtain a quotation and complete an online application or, with the help of Kanetix.ca connect with the provider to purchase or apply for the product over the phone.

SOURCE Kanetix.ca

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