The base for car insurance in Markham is relatively high. Markham has many busy roads like Highway 7 and Highway 404, large business centers and many multi-lane intersections. However, the price of car insurance also differs based on your specific address and vehicle type.
This page allows Markham drivers to compare local rates with Ontario and other GTA communities, and also provides information about rate differences by postal area, age, driving record, vehicle and coverage. It also provides information about local accident and road use data to help readers prepare for their car insurance shopping experience.
The Markham rates below are derived from actual auto insurance quotes gathered via MyChoice from Jan-Jun 2026.
Markham Car Insurance at a Glance
According to our internal data, the median annual quote for Markham is $3,046, or $254 per month. This is 29.9% higher than the median in Ontario.
| Median annual premium | $3,046 |
| Median monthly premium | $254 |
| Markham premium vs. Ontario Median | 29.9% more expensive |
| Cheapest Postal Code | L6B ($2,781) |
| Most Expensive Postal Code | L3S ($3,533) |
Where Car Insurance Costs More or Less in Markham
Within the city of Markham there is a significant difference between postal areas. The median car insurance premium is $3,533 for L3S, but only $2,781 for L6B. That’s $752 per year apart.
That is a 27 percent difference between the lowest and highest rates. If you’re moving within Markham, that’s big enough that you should check the insurance cost for your new address before you assume it will be about the same.
| Postal Code | Median Annual Car Insurance Premium |
|---|---|
| L3S | $3,533 |
| L3P | $3,186 |
| L6E | $3,055 |
| L3T | $3,052 |
| L1R | $3,037 |
| L6C | $2,866 |
| L6G | $2,851 |
| L3R | $2,848 |
| L6B | $2,781 |
Accident Rates by Postal Code in Markham
Accident risk differs between Markham neighbourhoods, and your postal code plays a major role in determining your insurance rate. The map below illustrates the accident rate of drivers living in different Markham postal codes (based on more than 50,000 quotes from MyChoice).
Source: MyChoice Quote Database
The overall percentage of Markham drivers with at least one accident is 9.1%. However, this percentage varies depending on location, ranging from 7.4% to 9.7%.
Read More: How Markham’s 2026 Rate Change Compares with Other Cities
Areas with the highest accident rates:
- L3R — Markham Central: 9.7% of drivers have an accident on record
- L6G — Markham South / Milliken East: 9.2%
- L6B — Markham East: 9.2%
- L6E — Markham North: 8.6%
- L3S — Markham East / Cornell: 8.4%
Areas with the lowest accident rates:
- L6C — Milliken: 7.4%
- L3P — Markham Village: 7.7%
- L3S — Markham East / Cornell: 8.4%
- L6E — Markham North: 8.6%
Those driving in Markham Central (L3R) are 31% more likely to have an accident on their record than drivers in Milliken (L6C).
Highway 404 Commuting and Rapid Growth in Markham
The area is also a mix of dense suburban residential neighbourhoods, commercial/employment areas, Highway 404 commuting and ongoing construction. Intersections that are busy with multi-lane traffic may be more challenging if someone decides to make a lane change at the last moment or tailgate. Choosing your lane earlier in the approach, being aware of cyclists and pedestrians, and leaving extra time during peak hours can reduce some risks.
In fact, Markham’s data later in the article showed that both a speeding ticket and an at-fault accident could increase a driver’s clean-driver premium by about 25%. Thus, keeping your own driving record clean will be more important than whether your driving area has an accident rate that is one or two percentage points higher than average.
Read More: How Vehicle Theft Can Affect Insurance Premiums
How Markham Rates Stack Up Locally
Of the communities we compared Markham to, its $3,046 median was the highest, with Vaughan ($2,977) only $69 less and Toronto much further behind at $2,456, a full $590 lower. It’s easy to see how a move within the GTA can affect your quote dramatically, even if you’re the same driver with the same car.
| City | Median Annual Car Insurance Premium | Difference from Markham Premium |
|---|---|---|
| Markham, ON | $3,046 | — |
| Richmond Hill, ON | $2,780 | -8.7% |
| Scarborough, ON | $2,920 | -4.1% |
| Vaughan, ON | $2,977 | -2.3% |
| Toronto, ON | $2,456 | -19.4% |
| Newmarket, ON | $2,557 | -16.1% |
Inside the $3,046 Markham Premium
Approximately 46 per cent of Markham’s premium pays for coverage that is mandatory by law, while roughly 45 per cent covers vehicle damage. The remaining 9 per cent, split between optional Accident Benefits and endorsements, covers only a fraction of the total cost.
Thus, there isn’t that much premium in the small extras. A Markham driver who wants to make a significant dent in premiums might do better by shopping around for other insurers or looking at his collision, comprehensive and deductibles options, rather than trimming a few of the less expensive optional coverages.
With a vehicle that’s not new, calculate what you’re spending on your physical-damage coverage against what you could expect to pay out of pocket if you had to fix or replace the car yourself.
| Part of the policy | What is included | Median Annual Car Insurance Premium |
|---|---|---|
| Legally required coverage | Third-Party Liability; mandatory medical, rehabilitation and attendant care; Uninsured Automobile | $1,403.49 |
| Vehicle damage protection | DCPD; Collision; Comprehensive | $1,362.84 |
| Optional Accident Benefits | Selected optional benefits shown below | $267.27 |
| Optional endorsements | OPCF 44R – Family Protection | $12.40 |
| Coverage Total: | $3,046 |
As of July 1, 2026, several Accident Benefits will be optional under Ontario’s auto insurance changes (see below).
Does Age Change Your Car Insurance Cost in Markham?
The most expensive area for young drivers is Markham. The median car insurance rate for those between ages 18–20 is $7,167. That is more than twice the rate of $3,046 for drivers between ages 35–44.
When you have a new teen in a Markham household, consider whether you’re paying for too much insurance for their car. Given that the young-driver rate is already so expensive, the car they’re attached to could potentially add extra cost.
| Age | Median Annual Car Insurance Premium |
|---|---|
| 18-20 | $7,167 |
| 21-24 | $4,294 |
| 25-34 | $3,834 |
| 35-44 | $3,046 |
| 45-54 | $2,753 |
| 55-64 | $2,400 |
| 65+ | $2,370 |
The Impact of Driving History on Markham Premiums
In this sample, a speeding ticket has almost the same impact as having an at-fault accident. The clean-record median is $3,046. One minor speeding ticket bumps it up to $3,840, whereas one at-fault accident bumps it up to $3,892, representing 26% and 28%, respectively.
If your record has recently changed, compare insurance companies again. A company that offers a good rate with a clean record might not have the best rate for those with tickets or accidents on their records.
| Driving record | Median Annual Car Insurance Premium |
|---|---|
| Clean | $3,046 |
| Minor speeding ticket | $3,840 |
| One at-fault accident | $3,892 |
| Insurance cancellation (non-payment) | $3,496 |
| Licence suspension | $4,561 |
| Impaired driving conviction | $7,207 |
| Stunt driving conviction | $4,663 |
Car Model and Insurance Cost in Markham
The 2024 Subaru Forester has a median car insurance premium of $3,046, while the 2011 Honda CR-V is $3,526, the 2022 Audi Q5 is $3,753, and the 2026 Toyota RAV4 Hybrid is highest at $3,822.
That’s nearly $800 per year, averaged across the SUVs in our sample. For Markham motorists shopping for a crossover, don’t stop at the type of vehicle. The make, model, year and trim of the crossover will have a big impact on your auto insurance costs, even if every vehicle on the list has a similar function.
| Make | Model | Model year | Vehicle price | Median premium |
|---|---|---|---|---|
| Subaru | Forester 2.5I Wagon Awd | 2024 | $33,595 | $3,046 |
| Audi | Q5 Progressiv 45 2.0 Tfsi 4Dr Awd | 2022 | $56,805 | $3,753 |
| Honda | Civic Lx 4Dr | 2013 | $19,730 | $3,093 |
| Honda | Cr-V Ex 4Dr 2Wd | 2011 | $30,964 | $3,526 |
| Toyota | Rav4 Xle Hev 4Dr Awd | 2026 | $43,365 | $3,822 |
