The most expensive Toronto areas for auto insurance revealed

The most expensive Toronto areas for auto insurance revealed | Insurance Business

The most expensive Toronto areas for auto insurance revealed
According to a report by an online insurance marketplace, motorists who live in the north, east or west ends of Toronto typically pay more for auto insurance than those in the south of the city.

Kanetix.ca unveiled the results of its second annual list of the 10 most expensive and most affordable areas for car insurance in Toronto yesterday. Data from the list is based on Kanetix’s InsuraMap tool, which allows users to compare estimated auto insurance premiums based on their postal code.

“Where you live can directly affect what you pay for auto insurance, and as we see from InsuraMap, rates can vary sharply within a single municipality,” said Kanetix.ca vice-president Janine White. “That said, Toronto drivers in general, pay some of the highest premiums in the province, about 30% more.”

The report found that the estimated annual auto insurance rate for a Toronto driver is $1,886 – that’s $438 more than the average rate of the province of Ontario, at $1,448.

The top 10 most expensive neighborhoods in Toronto for this year, according to Kanetix, are:
 
Rank Postal Code Established Premium Neighborhood
1A M1B $2,595 Malvern, Scarborough
1B M1X $2,595 Rouge, Scarborough
3A M3N $2,428 Glenfield-Jane Heights, North York
3B M6E $2,428 Oakwood Village, Toronto
3C M6M $2,428 Keelesdale-Eglinton West, York
3D M9M $2,428 Humber Summit, North York
3E M9V $2,428 Mount Olive-Silverstone-Jamestown, Etobicoke
8A M3J $2,388 York University Heights, North York
8B M9L $2,388 Humber Summit, North York
10 M9W $2,261 West Humber-Clairville, Etobicoke
 
On the other hand, the top 10 least expensive neighborhoods for auto insurance were:
 
 
Legend Postal Code Neighborhood
1 M6H Palmerston-Little Italy, Toronto
2 M6G Dovercourt-Wallace Emerson-Junction, Toronto
3 M6B Forest Hill North, Toronto
4 M6C Forest Hill North, Toronto
5 M5P Yonge-Eglinton, Toronto
6 M4R Yonge-Eglinton, Toronto
7 M4N Bridle Path-Sunnybrook-York Mills, North York
8 M4P Mount Pleasant West, Toronto
9 M4S Mount Pleasant West, Toronto
10 M4T Rosedale-Moore Park, Toronto
11 M4K Broadview North, Toronto
12 M4W Rosedale-Moore Park, Toronto
13 M4V Casa Loma, Toronto