Residents of the GTA Pay the Highest Auto Insurance Premiums - Diamond and Diamond Lawyers
  • Wednesday, 09 November 2016

Residents of the GTA Pay the Highest Auto Insurance Premiums

#AskZevBergman

Those of us who are drivers in the GTA, are feeling the firm grip of insurance providers everywhere. A new list shows that drivers who live within Toronto and the 905-area are paying the highest automobile insurance premiums in town – which isn’t going to bode well when it comes to the financially conscious. The list itself was put together by Kanetix.ca, which is an online marketplace platform that allows you to compare the top 10 most expensive auto insurance options in Toronto. The list states that Toronto and Markham are tied when it comes to being the fourth most expensive city in Ontario, this is in regards to the highest insurance premiums you can find.

Kanetix stated that Toronto and Markham drivers are going to be paying quite a bit, as the average is $1,886 annually for automobile insurance. In some cases, that number could increase up to 30 percent higher than the average, which is only going to call for more problems. However, if you live in Brampton, these numbers could seem like a blessing of sorts. Brampton comes in at number one on the most expensive auto insurance list, with their average annual fees totalling $2,392 – when compared to the provincial average, it’s a whopping 65 percent higher!

Vaughan and Mississauga come in at second/third, respectively; while the rest of the list is rounded out by: Richmond Hill, Hamilton, Pickering, Ajax, Bradford and Stoufville. Bradford and Stoufville tie for 10th place, with these estimates being based on a 35-year old driver (who has maintained a clean driving record). The GTA is the most expensive area of Ontario when it comes to auto insurance policies, although there are a few exceptions. Some of the GTA residents in areas like Whitby (which is $1,443) and Oshawa ($1,354) pay reasonably less when compared to the annual average.

If you’re in places like St. Catherines (only $1,317!) or Waterloo (by comparison, a miniscule $1,165), you’ll be able to save even more. In retrospect, some of the cheaper areas that the province can see may balance out the spectrum in a sense; the GTA pays much more because everybody else pays less. At the end of it all, it’s something that you must have handled – insurance is a must on the road. With that being said, it never hurts to shop around for the best deal possible.

While the insurance industry can be very complicated, it’s important to understand what your auto insurance covers. If you or a loved on has been injured or hurt in a car or motor vehicle accident call Diamond & Diamond Personal Injury Lawyers, Ontario Wide, at 1-800-567-HURT (4878) for professional guidance on how to proceed.

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