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Richmond Hill Auto Insurance

Richmond Hill, Ontario, sits just north of Toronto and considers itself one of the chief commuter towns to cities all over the York Region. As a safe, family-oriented city, it boasts friendly neighbourhoods with careful drivers and low collision rates. Does that mean drivers in Richmond Hill are good candidates for cheap car insurance rates?

Not exactly. The average customer seeking car insurance in Richmond Hill is 40 years old, makes just over $100,000 a year, and pays a whopping $3,600 for car insurance each year.

Is Car Insurance Expensive in Richmond Hill?

Ontario car insurance is disproportionately higher than in other Canadian territories, and the city of Richmond Hill suffers more than others from these prices. 

Coverage is broken down into two categories: mandatory and optional. 

By law, drivers must purchase third-party liability coverage, direct compensation property damage, uninsured driver protection, and accident benefits protection.

Drivers must pay for a minimum of $200,000 in coverage. Still, they have the option of increasing their coverage up to $2 million by opting-in to comprehensive coverage, collision, transportation replacement, and other optional insurance policy endorsements. 

According to the Insurance Bureau of Canada, average auto insurance rates across Ontario as of 2020 are $1,505 and rising. Richmond Hill rates average more than double that amount at $3,579 a year.

Additionally, if you are leasing or financing your car with a loan, you may be subject to higher rates. Unless you drive a luxury vehicle, we suggest you opt-out of extra coverage, though My Choice understands that you want to protect yourself against any future car trouble. 

Driving In & Around Richmond Hill

Where you drive affects your insurance rates. With Highway 404 leading into the heavy traffic of Toronto downtown and cities around the York Region, insurance companies are wary of Richmond Hill drivers.

Insurance companies always measure your risk to them. The more densely populated an area, the more people drive there, which means those regions have a higher likelihood of vehicle collisions, vandalism, and theft.

Even though Richmond Hill’s drivers have a lower collision rate than most other cities in Ontario, 75% of residents commute to other cities every day. Moreover, the collisions that do happen have resulted in the highest fatalities in the entire York Region.

Medical expenses and rehabilitation bills can add up much higher costs than car damage, and insurance company employees understand how this affects their company firsthand.

How to Find Cheap Car Insurance in Richmond Hill

Even though each insurance company looks at the same basic information you provide them, it pays to shop around. Different companies offer different rates based on the amount of risk they are willing to take. It also matters how the company and its clients are faring when you want to purchase your coverage.

If existing customers cost an insurance company money and have several active claims on the books, their auto insurance rates will rise. Conversely, if the company has a lot of good drivers and few claims, they may offer deals that favour you. Doing your research into auto insurance companies’ backgrounds may provide an insider’s look at the market.

Minimum coverage car insurance rates vary dramatically between companies. At times, you may see differences up to $5,000 a year in premiums. Richmond Hill has plenty of insurance companies to choose from, and we can help you compare quotes from all of them.

Do Your Research to Save on Car Insurance in Richmond Hill

If you’ve done your research, used the My Choice aggregator, and still feel your rates could be cheaper, you can take a few more steps to find a better deal. Before you buy auto insurance, there are a few factors to consider.

First, put yourself on an annual billing payment plan and bundle your car insurance with other types of insurance plans like your house, motorbike, or RV policies.

While it’s tempting to spread out the payments, paying annually can help you avoid small fees that add up quickly. Plus, prompt payments and multiple types of insurance payments lead to lower premiums and reduced rates.

Next, monitor your driving habits using usage-based insurance policies. Use your GPS to prove where you drive and how well you do it. The more driving experience you have, the lower your premiums become.

Young drivers have a hard time finding cheap insurance rates, but by taking driving classes and maintaining good grades, you can make your driving habits an asset and help lower your insurance rates.

You can also leverage your memberships to unions and alumni associations. These organizations often have partnerships with insurance companies that offer great deals.

Check the model and make of your car, as well. If it has high scores in crash tests, low theft rates, or a low-power engine, you may be entitled to cheaper insurance rates. Even installing winter tires makes a difference, as it shows you’re serious about safe driving.

Find a Cheap Quote for Richmond Hill Car Insurance Here!

If you want to compare insurance in Richmond Hill, Ontario, get in touch with our team today. Using your basic information such as postal code, driving experience, and vehicle make and model, we will find you an unbiased, comprehensive, and secure list of quotes.

Finding the right insurance for our customers is what we do best. At My Choice, we have the knowledge, expertise, and consumer data necessary to find you the best possible Richmond Hill car insurance quote available.

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