Ranked: yearly auto insurance costs by province

Ranked: yearly auto insurance costs by province

Ranked: yearly auto insurance costs by province Manitoba leaders are pleased to announce that their constituents had the lowest annual utility costs and second lowest auto insurance rates in the country, according to a new Deloitte LLP report that calculated rates for the year ending March 2015.
 
During that timeframe, Manitoban drivers paid an average of $1,211 for automobile insurance, significantly lower than the Canadian average of $2,153.
 
 “It is part of our commitment to keep life in Manitoba affordable,” Manitoba Finance Minister Greg Dewar told outlets. Still, Saskatchewan had the most reasonable premiums, calculated at $1,163 for the year.
 
In drawing the comparisons, Deloitte used the weighted average of auto insurance costs in an urban center and a rural center of each province. The rates were based on a pool of ten car models, drivers and coverages, accounting for vehicle popularity and the province’s demographics.
 
Its findings are:
 
Province Auto Insurance Costs for the year ending March 31, 2015
British Columbia $1,717
Alberta $2,897
Saskatchewan $1,163
Manitoba $1,211
Ontario $5,567
Quebec $1,364
New Brunswick $1,849
Nova Scotia $1,887
Prince Edward Island $1,937
Newfoundland $1,933
Average $2,153
 
Many brokers may express shock at Ontario’s staggering figure, which is highly disproportionate to other provinces. Still, high premiums are nothing new for its drivers. 
 
“It’s got the highest population density, the worst roads, and a high rate of theft,” John Bordignon, State Farm Insurance spokesperson, told The Globe and Mail with regard to the City of Toronto. “The costs reflect those risks.”