Motorists in Brampton pay the most for auto insurance in Ontario - 65% higher than the provincial average - according to a list that ranks the 10 most expensive cities in the province.
The list is part of an annual series prepared by online insurance exchange company Kanetix.ca. Findings from the list show an estimated difference of $1,436 annually between the most expensive and least costly premiums.
“While there are a lot of variables that go into determining what you pay to insure your vehicle, one of the most influential factors is where you live,” commented Kanetix.ca vice-president Janine White. “If you reside anywhere in the GTA, chances are you’ll be paying a lot more.”
The ranking is as follows, with figures based on a theoretical single 35-year-old driver with a clean driving record.
||Compared to provincial average
The online insurance marketplace also found that the average auto insurance premium in Ontario is roughly $1,448 per year, although the province’s most highly-populated cities and towns tend to have premiums that are much higher.
Kanetix.ca’s study discovered that the town of Hawkesbury had the lowest typical premiums in Ontario, at $956. Other provinces with auto insurance premiums lower than the provincial average include Whitby ($1,443), Oshawa ($1,354), St. Catharines ($1,317), Kitchener ($1,251), Cambridge ($1,172), Waterloo ($1,165), Ottawa ($1,142) and Guelph ($1,128).
The list suggests that areas with higher premiums, particularly those that are heavily populated, experience more traffic congestion or have a higher percentage of commuters. Other areas attract higher premiums due to their tendency to see more traffic accidents or car thefts.
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