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

Updated on November 6, 2023

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

Updated November 6, 2023

Visit author page

13 minute read

Article Contents

How Can You Get Cheap Car Insurance in Richmond Hill?

You can get cheap Richmond Hill car insurance by finding the best deals. Here are several tips to help you do so:

Compare Rates Between Insurers

Richmond Hill has a highly competitive auto insurance market, so insurers are constantly vying for your business. When insurers try to give you the best deals, it’s you who wins. Compare rates and shop around to see which insurance provider fits your auto protection needs affordably.

Take Bundled Policies

One of the best ways to save money while shopping is to buy a package deal, and insurance is no different. If you bundle home and auto insurance from the same company, you’re much more likely to get lower rates.

Ask For A Higher Deductible

You must pay a deductible on insurance claims before your carrier covers the remaining expenses. A higher deductible means paying extra if something happens to your car, but it also means you’ll get lower insurance premiums.

Request Group Discounts

Many insurance companies deal in group discounts for companies and other organizations. If you’re shopping for auto insurance in Richmond Hill for work, ask your agent about group deals and discounts.

Pay Annual Premiums

Paying annual insurance premiums might look expensive initially, but it’s generally cheaper than paying them monthly. Ask your insurers about half-year premiums if you can’t afford annual premiums.

Drive Safely

Motor vehicle offences and accidents stay on your record for years. Unfortunately, any driving violation on your record will considerably increase your insurance rates. However, this also means you’ll get lower auto insurance rates if you have no offences on record.

Consider Taking Usage-Based Insurance

Usage-based insurance (UBI) or pay-as-you-go insurance tracks your driving behaviour to determine how much you must pay for insurance. Taking UBI lets you save up to 30% on your annual premiums, so it’s a good option if you consider yourself a safe driver.

Take Driving Courses

Accredited driving lessons make you a safer driver and let you earn discounts on auto insurance in Richmond Hill.

Choose the Coverage You Need

Naturally, more insurance protection leads to higher rates. While some auto insurance coverage is mandatory, you have optional insurance coverage like at-fault accident and theft protection. Review your policy and skip unnecessary optional coverage to save on insurance premiums.

Buy Affordable Cars

Cars that are expensive and hard to replace tend to get hit with higher premiums. If possible, buy affordable and reliable cars that are more common and easy to repair or replace if you want lower insurance rates.

Quick Facts About Auto Insurance in Richmond Hill

  • Richmond Hill car insurance is MORE expensive than the Ontario average.
  • The average annual car insurance cost in Richmond Hill for a driver with a clean record is around $1,863.
  • Drivers without a clean record in Richmond Hill can pay up to $4,106 annually, depending on factors like driving and claim history.
  • Comparing Richmond Hill auto insurance quotes with MyChoice can save you up to $1,323 annually.

Who Provides Car Insurance Quotes in Richmond Hill?

Insurance brokers, agents, aggregators, and direct writers provide car insurance quotes in Richmond Hill. Here’s an overview of these four insurance quote providers:

Insurance Brokers

Insurance brokers are independent professionals who help you shop for the best rates by comparing deals from multiple insurers. Because they have a bird’s-eye view of the current Richmond Hill insurance landscape, they can show you which companies offer the best insurance deals and answer any questions you may have.

Brokers take a commission from insurance companies, which could increase your rates. You might spend more money than if you had found an insurer yourself.

Direct Writers

Like insurance agents, direct writers only sell insurance products from one company. Direct writers are typically found online and are cheaper because they don’t have physical offices.

Insurance Agents

Insurance agents work for a certain insurer, so they can only offer their employer’s insurance products. However, they know their insurer like the back of their hands and might even give you discounts that brokers don’t have access to.

Additionally, insurance agents can close insurance sales independently, meaning you can purchase insurance from them right then and there. 

Insurance Aggregators

An insurance aggregator website like MyChoice compiles rates from various insurance brokers, companies, and direct writers in one place. You can browse aggregator websites to find the best deals from the top insurance companies and get quotes instantly.

Better yet, insurance aggregators are accessible online and entirely free for customers, so you can look up insurance rates without spending a single penny or leaving the house.

The Best Car Insurance Brokerages in Richmond Hill

Shopping for car insurance can be easier in Richmond Hill by going through car insurance brokerages. These companies compare policies for you and tell you what you need to know about each insurer’s policies.

Contact these insurance brokerages in Richmond Hill to help you find the best policy:

BrokerageAddressPhone number
Westland Insurance110 West Beaver Creek Rd
Richmond Hill, ON L4B 1J9, Canada
+19057648061
My Insurance Broker50 West Wilmot St #6
Richmond Hill, ON L4B 1M5, Canada
+18554825001
Freedom Insurance Brokers Inc.9019 Bayview Ave #214
Richmond Hill, ON L4B 3M6, Canada
+19055976655
All-Risks Insurance Brokers Limited11685 Yonge St
Richmond Hill, ON L4E 0K7, Canada
+19058841777

How Does Car Insurance Work in Richmond Hill?

Car insurance in Richmond Hill works by providing financial coverage in case something bad happens to you or your car, depending on the protection you choose. Auto insurance in Richmond Hill is mandatory by local laws, which means you need car insurance to avoid fines or driver’s licence suspensions.

Worse still, if you get convicted of driving without insurance, you’ll get higher premiums from carriers. This makes driving again prohibitively expensive or even nearly impossible after being caught driving without insurance. That’s why getting auto insurance is essential before buying a car or driving in Richmond Hill.

Here’s a breakdown of the key elements of your auto insurance policy:

The mandatory car insurance requirement for Richmond Hill drivers are:

Third-Party Liability (TPL) Coverage 

This insurance component provides financial compensation if you cause an accident that results in car damage or somebody getting hurt or killed. Per Financial Services Commission of Ontario (FSCO) regulations, you need at least $200,000 in TPL coverage.

Statutory Accident Benefits Coverage

This insurance component pays for your medical bills, rehabilitation, and possible funeral expenses if you get hurt or killed in a car accident, regardless of who’s at fault. Accident benefits coverage also offers income replacement worth 70% of your gross income, capped at $400 per week.

Uninsured Automobile Insurance 

Uninsured automobile insurance covers your medical bills and funeral expenses if you’re struck by uninsured vehicles or hit-and-run drivers. Additionally, it compensates for vehicular damage caused by uninsured drivers.

Direct Compensation – Property Damage (DC-PD) Insurance

DC-PD insurance compensates you for the damage other drivers cause in an accident. However, DC-PD only kicks in if the other person is at fault, they’re also insured, and the accident takes place in Richmond Hill. 

Once you meet the minimum car insurance coverage requirements, you can legally drive in Richmond Hill. However, it pays to have extra protection beyond the basics in case you get in an accident.

Since minimum car insurance only goes so far, we’ve got some extra Richmond Hill car insurance recommendations for you:

Extra TPL Coverage

The mandatory $200,000 insurance minimum can be too small, so many drivers choose to get coverage up to $2 million if they cause property damage or hurt somebody in an accident.

Additional Statutory Accident Benefits

Many people get additional coverage for medical bills and funeral expenses in their statutory accident coverage. You can also get extra income replacement protection if 70% income capped at $400 a week seems too limited.

More Comprehensive Property Damage Protection

DC-PD coverage has very specific coverage terms like the other driver also needs to be insured, and the accident must occur in Richmond Hill. To cover their bases, many people purchase extra insurance that still protects them even when the other driver is uninsured, and the accident happens in other provinces.

In addition to mandatory insurance coverage outlined by the FSCO, you can take optional insurance coverage like:

Specified Perils Protection

Specified perils insurance coverage protects you from loss or damage due to a specific cause. The most common perils insured are:

Many insurers also offer comprehensive auto insurance in Richmond Hill if you want protection from all these perils.

Accident Forgiveness

Insurers usually raise your premiums if you’re at fault for causing an accident. If you’ve been a safe driver for several years, you can take extra accident forgiveness coverage so you won’t get higher premiums if you cause an accident. Note that accident forgiveness only works on your first accident, and subsequent violations will still raise your rates.

Limited Depreciation Waiver

If you take a limited waiver of depreciation, you can receive your car’s purchase price as compensation if it’s been stolen or deemed a total loss after an accident. 

How Your Car Insurance Quotes Are Calculated in Richmond Hill

Your car insurance rates are calculated based on how risky you are to insure. Naturally, drivers more likely to get into accidents will have higher premiums than those less likely to be in an accident.

Here are seven factors that influence your Richmond Hill car insurance quotes:

Age, Gender, and Marital Status

Your personal demographics influence auto insurance premiums in Richmond Hill because different people have varying accident risks. 

Younger people tend to get higher premiums because insurance companies see them as more accident-prone than older people. Generally, your car insurance rates start decreasing when you hit 25 years old as long as you keep a safe driving record. However, insurance premiums increase again for people aged 65 and older because they’re more likely to be injured or killed in traffic accidents.

Women often get lower insurance rates because they’re seen as more careful drivers and don’t take as many risks as men.

Marital status also determines your rates because most insurance companies see married people as more financially stable and less-risky drivers. Married couples also tend to bundle home and auto insurance, saving more on premiums.

Location

People who live in urban areas often see higher insurance premiums because they’re more prone to car accidents and theft. 

Car Make and Model

Expensive cars are more costly to repair or replace, so insurance premiums are usually higher than more common vehicles. You can install security features like anti-theft devices if you have an expensive car and want to save on insurance premiums.

Driving History

People who drive safely are rewarded with lower premiums because they’re usually less likely to get into a traffic accident. Conversely, people who have gotten into multiple accidents get higher premiums because they’re more likely to be involved in another accident down the line.

Driving Activity

Logic dictates that people who drive frequently are more likely to get in an accident. Therefore, kilometres driven is one of the determining factors that set your Richmond Hill auto insurance rates.

Insurance Coverage Chosen

Your coverage options influence your insurance rates because taking more coverage gives you more protection. Naturally, the more coverage you choose, the higher your rates.

Policy Discounts

Getting discounts can lower your auto insurance rates and make them more affordable. You can typically get discounts by bundling home and auto insurance or asking for a group discount for your workplace or organization.

Most Expensive Postal Codes in Richmond Hill

Richmond Hill has an average annual car insurance rate of $1,863, almost $500 higher than the annual average in Ontario, which is $1,385. There are a couple of postal codes in Richmond Hill that have higher average insurance rates than the rest of the city.

Here are the most expensive postal codes in Richmond Hill:

Postal codeAverage annual car insurance premium
L4E 0A1$2,293
L4C 0A1$2,080

Least Expensive Postal Codes in Richmond Hill

Two postal codes in Richmond Hill share the same average annual car insurance premiums as the city average. These are the cheapest postal codes for auto insurance in Richmond Hill:

Postal codeAverage annual car insurance premium
L4S 0A1, L4B 0A1$1,863

Car Insurance Cost in Richmond Hill by Age

How old you are can affect how much you pay in insurance premiums.

Drivers under 25 have higher insurance rates because they’re considered inexperienced drivers. Conversely, drivers over 60 have higher insurance premiums in Richmond Hill because their reaction times are slower and they’re more likely to get injured or killed in an accident.

Here’s the average cost of car insurance in Richmond Hill by age:

AgeAverage annual insurance costAverage savings with MyChoice
18-20$6,651$1,323
21-24$3,801$756
25-34$2,534$504
35-44$1,863$371
45-54$1,528$304
55-64$1,299$258
65+$1,480$294

Car Insurance Cost in Richmond Hill by Driving History

Insurance companies check your driving history to determine how risky you are as a driver and charge higher premiums if you’re a careless driver.

If you have multiple traffic violations and demerits, insurance companies will consider you a high-risk driver, bumping up your insurance premiums. However, if you have a consistently clean driving record, you’re more likely to get lower auto insurance rates.

Demerits and traffic violations are “reset” every two years in Ontario, though insurance companies can check your records up to ten years back to assess your riskiness as a driver.

These different traffic violations can affect your car insurance rates:

Driving violationAverage annual car insurance rate
Clean driving record$1,863
Insurance cancellation due to non-payment$3,055
Licence suspension for alcohol-related offences$2,233
One accident$4,106
Speeding ticket$2,426

Other Factors That Affect Car Insurance Prices in Richmond Hill

We’ve covered several factors that influence car insurance rates in Richmond Hill. Aside from those, several extra factors play a part in determining your Richmond Hill auto insurance premiums:

Vehicle Model Accident Rates

Some cars are just more accident-prone than others. Even if you have a spotless driving record, owning a car model infamous for having high accident rates will increase your insurance premiums.

Vehicle Age

Naturally, older cars are more expensive to insure because they may not have all the safety features of newer vehicles. If you insist on driving a vintage car everywhere, make sure you can pay the insurance premiums.

Vehicle Repair Costs

The harder it is to repair a car, the more expensive it is to insure. You can expect high insurance premiums on luxury cars and foreign cars that don’t have a large dealership or service centre presence in Canada.

Vehicle Primary Usage and Annual Mileage

You may spend more or less time on the road depending on what you use the car for. Car usage influences insurance rates – generally, the more you use it, the higher your premiums. For instance, insurance premiums on a car you use as an Uber will be higher than on a car you almost exclusively take on weekend cruises.

A good way to measure how much somebody uses a car is by its annual mileage. If your car has low annual mileage, insurers may determine that this car is low-risk and thus grant you more affordable insurance rates.

Local Crime Rates

Living in high-crime areas means your car is at higher risk of being stolen or vandalized. If you live in an area where theft or vandalism often occurs, you may get higher car insurance rates.

Past Insurance Claims

Any auto insurance claims will drive your premiums up, regardless of who’s at fault. If you make many insurance claims, the insurer will see you as a high-risk policyholder and give you higher rates.

Loyalty Bonuses

Many insurance companies reward long-term customers with discounted rates. If you’ve been a policyholder at the same insurance company for several years, ask for a rate reduction or discount when you renew your policy.

Driving in Richmond Hill

Richmond Hill was classified as a city in 2019 and is the third-most populated municipality in the York region after the cities of Vaughan and Markham. Out of Richmond Hill’s population of 202,000, over 60% are visible minorities, making this city a diverse melting pot of cultures.

Here are a few facts about the driving experience in Richmond Hill.

  • Major highways: 404, 401, 407, 7
  • Public transit options: York Region Transit (bus), GO Transit (train)
  • Ridesharing services: Uber, Lyft
  • Parking space providers: The City of Richmond Hill, private lots
  • Top tourist attractions: David Dunlap Observatory, Richmond Hill Centre for the Performing Arts, Wilcox Lake, Mill Pond Park
  • Busy intersections: Laverock Avenue and Lucas Street, Highway 144 and Cedar Street, Laburnum Avenue and Hermitage Road
  • Airports: None

Main Mode of Commuting in Richmond Hill

Public transportation is relatively popular in Richmond Hill, with 7.9% of the city’s commuters preferring it. Like many other cities, personal vehicles still take the top spot with 86.7% of commuters preferring them. Check the table for a closer look at Richmond Hill’s modes of commuting:

Main mode of commutingCountsRates
Total – 25% sample data55,290100.0
Car, truck or van47,93086.7%
Car, truck or van – as a driver43,83579.3%
Car, truck or van – as a passenger4,0907.4%
Public transit4,3857.9%
Walked1,4352.6%
Bicycle1400.3%
Other method1,4052.5%

Commuting Duration in Richmond Hill

Richmond Hill is a rapidly growing city, so traffic may be more congested than other areas of its size. That’s why around 60% of Richmond Hill’s commuters take 15 to 44 minutes to get to work. Here’s a detailed look at the commuting duration in Richmond Hill:

Commuting durationCountsRates
Total – 25% sample data55,290100.0
Less than 15 minutes9,14516.5%
15 to 29 minutes17,86532.3%
30 to 44 minutes16,05529.0%
45 to 59 minutes5,97510.8%
60 minutes and over6,25011.3%

Driving Conditions in Richmond Hill

Driving in an area with frequent rain and snowfall can raise your insurance premiums. Take a look at these facts about the driving conditions in Richmond Hill:

  • Average daily commute time: 37 minutes round trip
  • Average annual rainfall: 744.6 mm
  • Average annual snowfall: 150.6 cm
  • Rainy days per year: 120 days
  • Rainiest month in Richmond Hill: May, October
  • Driest months in Richmond Hill: February
  • Snow days per year: 56 days
  • Snowfall months in Richmond Hill: November – April

Traffic in Richmond Hill

Richmond Hill is a rapidly growing city, with over 200,000 residents. This concentrated population means more cars on the road and a longer commute for people living in the city. 

Here are some important traffic statistics for Richmond Hill:

  • Population: 202,022 people live within Richmond Hill’s city limits.
  • City area: Richmond Hill’s city area spans 100.79 km2.
  • Average commute distance: The average Richmond Hill resident travels x km to their workplace or school. 
  • Time spent in traffic annually: The average North Bay resident spends 37 minutes in traffic daily, totalling roughly 226 hours per year.
  • Busiest highways: Highway 404 borders Richmond Hill to the east and connects to Highway 401, one of the busiest highways in the world. Highway 7 and Highway 407 border the city to the south.

The Most Common Questions About Car Insurance in Richmond Hill

Is ridesharing insurance available in Richmond Hill?

Yes, ridesharing insurance is available in Richmond Hill.

How much does Richmond Hill car insurance cost?

In Richmond Hill, car insurance costs an average of $1,863, almost $500 more than the average car insurance rate in Ontario.

Is car insurance cheaper in Richmond Hill than in Toronto?

No, car insurance is not cheaper in Richmond Hill than in Toronto. Richmond Hill’s average insurance rates are about $70 more expensive than the average rates in Toronto.

Which cars get the lowest car insurance premiums in Richmond Hill?

The cars that get the lowest car insurance premiums in Richmond Hill are typically Fiats, Buicks, and Subarus. However, this also depends on whether you buy a new or used car.

Why should you compare car insurance rates in Richmond Hill?

You should compare car insurance rates in Richmond Hill to find the best price for the coverage that you need. Different insurance companies price their policies according to different metrics, and comparing policies may get you a better rate for the amount of coverage that you want to have.

What information do you need for an auto insurance quote in Richmond Hill?

To get a basic auto insurance quote in Richmond Hill, you need to provide the details of your vehicle, such as the make, model, year, and engine type. If you provide other details like your age, driving history, and past traffic violations, you can get a more accurate quote.

Which auto insurance is the best for old drivers in Richmond Hill?

For old drivers in Richmond Hill, a policy that has all-perils coverage may be the best option. This kind of policy protects you from the greatest amount of risks associated with driving a car.

How much is car insurance for new immigrants in Richmond Hill?

For new immigrants in Richmond Hill, car insurance may be a bit more expensive than average due to the fact that there usually isn’t a driving history to draw from.

Methodology

Sample Size

We analyzed over 50,000 auto insurance quotes across Canada.

Profiles

Average rates were calculated using a standard profile and incident profiles. All personal details pertaining to the quotes and policies have been kept confidential.

Standard Profile

Single driver, one car, currently insured, and a pristine driving record. Our base profile is a 35-year-old individual (both male and female) with a spotless driving record.

Incident Profiles

We examined how rates change by evaluating profiles with a clean record (standard), one at-fault accident, a single speeding ticket, license suspension for alcohol related offenses and insurance cancellation due to non-payment.

Vehicle Details

These individuals own a 2018 Honda Civic, commute five days a week, and cover a distance of 15,000 kilometres annually.

Vehicle Models

Costs were also analyzed for different vehicles: Mazda CX-5, Ford Escape, Toyota Corolla, Honda Accord, Chevrolet Equinox, and the base 2018 Honda Civic.

Age and Homeownership

Profiles from age 18-65 (standard: 35 years) were considered. Depending on age, individuals might rent or own their homes. Age-related regulations may vary across provinces.

Team

MyChoice data science, MyChoice research.

Sources

1. Mychoice.ca Internal Data, Most Expensive Postal Codes, Ontario, Richmond Hill, Car Insurance Quotes Collected, 2023.

2. Mychoice.ca Internal Data, Least Expensive Postal Codes, Ontario, Richmond Hill, Car Insurance Quotes Collected, 2023.

3. Mychoice.ca Internal Data, Rate Cost By Age, Ontario, Richmond Hill, Car Insurance Quotes Collected, 2023.

4. Mychoice.ca Internal Data, Rate Cost By Driving History, Ontario, Richmond Hill, Car Insurance Quotes Collected, 2023.

5. City of Richmond Hill Website, Driving & Transit Information. Data Collected, 2023.

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

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

8. Weather Network Canada, Historical Averages, Ontario, Richmond Hill.

9. 511 Ontario Traveller Information, Ontario, Richmond Hill.

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