There are many characteristics that go into how much you will be charged for car insurance Ontario, including age, gender, vehicle and location. You can’t change your age or gender, but both remain factors. You can change where you live, if you want cheaper car insurance rates. What are the most expensive cities for insurance in Ontario?
Car Premiums Set By Location
Have you ever wondered why companies ask where you live on your automobile insurance application? It is because insurance actuaries have boiled down the risk assessment for each geographical location. The number of accidents, thefts and claims for each city is compared to the overall average for the province of Ontario.
The insurance quote is based on how far away from the mean, each city’s accident total is. Generally, the concentrated urban centres will have higher accident figures. More traffic increases the odds of accidents.
What are the five cities with the highest insurance premiums in Ontario?
Ontario is one of the most important business centres for Canada. Ontario has the highest auto insurance rates in the country. Here are the five cities with the highest car premiums in the province of Ontario:
These cities have higher insurance rates due to traffic congestion and vehicle theft rates. There were more insurance claims from these five locations.
Should I move?
Each neighborhood has its own quality of life. It only makes sense that the larger urban cities will have higher claims figures. That does not mean that the neighborhood is bad, it just means that there is more activity.
When you are considering “where to live,” you might add car insurance Ontario to the criteria. If you can find similar properties in adjacent cities, then the city with cheaper car insurance might be the best decision. The insurance quote can also reveal potential traffic problems or vehicle theft problems.
You also might want to consider where you store your vehicle, in terms of the automobile insurance premiums. Some might keep their classical cars at a storage facility in a neighborhood with a high insurance rate. Just be aware that there may be a higher incidence of theft in that locale.
Car insurance is one of the necessities of life. You will need to include this in your monthly budget. When you are searching for the ideal place to live, just keep it in the back of your mind. Brampton may have the highest car premiums but it might also offer a higher quality of life.