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Article Contents
Picture of By <span>Aren Mirzaian</span>
By Aren Mirzaian

Updated on May 15, 2024

Visit author page
Picture of By <span>Aren Mirzaian</span>
By Aren Mirzaian

Updated May 15, 2024

Visit author page

5 minute read

Article Contents

Quick Facts About Auto Insurance in Peterborough

  • Peterborough car insurance is LESS expensive than the Ontario average.
  • The average annual car insurance cost in Peterborough for a driver with comprehensive/collision coverage and a clean record is around $1,239.
  • Comparing Peterborough auto insurance quotes with MyChoice can save you up to $880 annually.

The Best Car Insurance Brokerages in Peterborough

An insurance brokerage can help you find a car insurance policy that best suits your driving needs and budget once they have more details about your vehicle, driving habits, and driving history.

These are some of the top car insurance brokerages in Peterborough. Contact them if you have any questions or need help looking for an auto insurance policy:

BrokerageAddressPhone number
Westland Insurance199 Sherbrooke St
Peterborough, ON K9J 2N2, Canada
+17057433382
BrokerLink201 George St N Suite 201
Peterborough, ON K9J 3G7, Canada
+17057434211
ISL Insurance Brokers441 Water St, Peterborough
ON K9H 3M2, Canada
+18883689298
McDougall Insurance &
Financial – Peterborough
261 George St N, Peterborough
ON K9J 3G9, Canada
+17057428864

Most Expensive Postal Codes in Peterborough

The average car insurance rate in Peterborough, is $1,239/year, which is lower than Ontario’s provincial average of $1,673/year by roughly $450. The K9K area in Peterborough is the postal code with the highest car insurance premium rate in the city.

Postal CodeAverage Annual Car Insurance Premium
K9K$1,322
K9L$1,318

Least Expensive Postal Codes in Peterborough

The K9J area in Peterborough has the least expensive auto insurance rates in the city, as detailed in the table below:

Postal CodeAverage Annual Car Insurance Premium
K9J$1,114
K9L$1,115

Car Insurance Cost in Peterborough by Age

Generally, auto insurance companies will consider your age when estimating your insurance rates. 

Younger drivers are perceived as a bigger risk to insure because they have less experience on the road, making them more likely to get into accidents. Because of this, younger drivers usually have higher insurance premiums.

Once a driver reaches the age of 25, their car insurance premiums tend to go down and stabilize. However, your car insurance premiums start going up again when you turn 65. This is because car insurers see senior citizens as more likely to be injured or killed if they get into a car accident.

Take a look at how your age affects the cost of car insurance:

AgeAverage Annual RatesAverage Savings with MyChoice
18-20$4,423$880
21-24$2,528$503
25-34$1,685$335
35-44$1,239$246
45-54$1,016$202
55-64$864$172
65+$984$196

Car Insurance Cost in Peterborough by Driving History

As in any other Canadian city, your car insurance premiums in Peterborough will be affected by your driving history. Having a clean record makes car insurers deem you less risky to insure, so you’ll typically enjoy lower car insurance rates if you have no violations or demerit points.

On the other hand, having more traffic violations and demerit points on your record can lead to being labelled as a high-risk driver. High-risk drivers are seen as more likely to get into accidents or break traffic laws, resulting in higher premiums in Peterborough.

Though violations and demerit points only stay on your Ontario driving record for two years, car insurers may check your driving history for the last 10 years. This means your car insurance premiums can still go up because of previous violations, even if you’ve maintained a spotless record in recent years.

We’ve prepared a detailed overview below of how different traffic violations can affect your car insurance rates in Peterborough, based on our research:

Driving ViolationAverage Annual Car Insurance Premium
Clean driving record$1,239
Insurance cancellation due to non-payment$2,032
Licence suspension for alcohol-related offences$1,487
One accident$2,726
Speeding ticket$1,611

Driving in Peterborough

Peterborough is known as “the Electric City”, and it’s widely considered the gateway to the Kawartha Lakes region, which is known for being a natural recreational area in the province. The city also surrounds Little Lake, which is Otonabee River’s only lake, and the Trent Canal flows around Peterborough’s eastern area.

What’s it like to drive and commute in Peterborough? Here are some key facts about driving and commuting in this city:

  • Major highways in Peterborough: 115, 7A, 28, and 7 (part of the Trans-Canada Highway)
  • Public transit options: Peterborough Transit (bus)
  • Ridesharing services: YDrive Ptbo, VanBr, URide
  • Parking space providers: The City of Peterborough, private lots
  • Top tourist attractions: Riverview Park and Zoo, Canadian Canoe Museum, Peterborough Lift Lock, Jackson Park, Art Gallery of Peterborough, Peterborough Museum & Archives
  • Busy intersections: Lansdowne Street and Parkway, Monaghan Road and Parkhill Road, Parkway and Clonsilla Avenue, Lansdowne Street and High Street, and Clonsilla and Sherbrooke Street
  • Airports: Peterborough Airport

Main Mode of Commuting in Peterborough

Public transit isn’t very popular in Peterborough. There are twice as many pedestrian commuters compared to public transit users. As with most cities, personal vehicles are the commuting mode of choice in Peterborough, boasting over 22,805 users. Here’s a closer look at the modes of commuting in Peterborough:

Main mode of commutingCountsRates
Total – 25% Sample Size26,845100.0
Car, truck or van22,80585.0%
Car, truck or van – as a driver20,60576.8%
Car, truck or van – as a passenger2,2008.2%
Public transit9853.7%
Walked2,0807.7%
Bicycle3851.4%
Other method5902.2%

Commuting Duration in Peterborough

While traffic in Peterborough is relatively sparse, over one-third of its residents take 15 to 29 minutes to get to work. Another third of them enjoy short commutes of under 15 minutes. Here’s a closer look at commuting times in Peterborough:

Commuting durationCountsRates
Total – 25% Sample Size26,845100.0
Less than 15 minutes13,91551.8%
15 to 29 minutes7,24527.0%
30 to 44 minutes2,5509.5%
45 to 59 minutes1,4005.2%
60 minutes and over1,7356.5%

Driving Conditions in Peterborough

Road safety is affected by driving conditions like snowfall and rain. Consequently, driving conditions can have a major impact on your car insurance rates in a city

Here’s a guide to the average driving conditions in Peterborough.

  • Average daily commute time: 44 minutes round trip
  • Average annual rainfall: 749 mm
  • Average annual snowfall: 147.2 cm
  • Rainy days per year: 113.6 days
  • Rainiest month in Peterborough: September
  • Driest month in Peterborough: January
  • Snow days per year: 37.6 days
  • Snowfall months in Peterborough: November – April

Traffic in Peterborough

Peterborough has enjoyed moderate growth in its economy and job opportunities for the past decade. The city’s primary employers are service-oriented industries such as electronics, food processing, and automotive supplies. The city is home to many workers who commute to nearby East Toronto and Oshawa. 

Peterborough is one of the region’s major shopping destinations, boasting three large shopping centres: Portage Place, Lansdowne Place, and Peterborough Square. Major retailers like Costco and Walmart also have large operations in Peterborough, attracting many shoppers and workers from surrounding cities. 

Here’s a quick overview of the key traffic statistics in Peterborough:

  • Population: 83,651 people live within Peterborough’s city limits.
  • City area: Peterborough’s city limits span 58.61 km2.
  • Average commute distance: The average Peterborough resident travels 15.5 km every day to their school or workplace.
  • Time spent in traffic annually: The average Peterborough resident spends 44 minutes in traffic daily, totalling roughly 268 hours per year.
  • Busiest highway: Peterborough’s busiest highway is Highway 7, which is part of the Trans-Canada Highway.

The Most Common Questions About Car Insurance in Peterborough

How much does Peterborough car insurance cost?

On average, Peterborough car insurance costs $1,239/year.

Is car insurance cheaper in Peterborough than in Toronto?

Yes, car insurance is cheaper in Peterborough than in Toronto. The average car insurance rate in Peterborough is roughly $1,239/year, while the average in Toronto is $2,139/year.

Which auto insurance is the best for young drivers in Peterborough?

The best auto insurance for young drivers in Peterborough is coverage that comes at a competitive price despite their age. Young drivers tend to have higher premiums until they turn 25. If you’re a young driver looking for affordable car insurance, it’s best to shop around to get the best rates for your desired level of coverage.

How you can get cheaper car insurance in Peterborough?

Compare car insurance rates in Peterborough with MyChoice, or visit our main car insurance page to learn other ways of getting cheap car insurance quotes.

Sources

1. Mychoice.ca Internal Data, Most Expensive Postal Codes, Ontario, Peterborough, Car Insurance Quotes Collected, 2024.

2. Mychoice.ca Internal Data, Least Expensive Postal Codes, Ontario, Peterborough, Car Insurance Quotes Collected, 2024.

3. Mychoice.ca Internal Data, Rate Cost By Age, Ontario, Peterborough, Car Insurance Quotes Collected, 2024.

4. Mychoice.ca Internal Data, Rate Cost By Driving History, Ontario, Peterborough, Car Insurance Quotes Collected, 2024.

5. City of Peterborough Website, Driving & Transit Information. Data Collected, 2024.

6. Statistics Canada, 2021, Census of Population, Ontario, Peterborough, Main Mode of Commuting. Data Published March 29, 2023.

7. Statistics Canada, 2021, Census of Population, Ontario, Peterborough, Commuting Duration. Data Published March 29, 2023.

8. Weather Network Canada, Historical Averages, Ontario, Peterborough.

9. 511 Ontario Traveller Information, Ontario, Peterborough.

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