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Cheap Car Insurance in Toronto (2024)

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MyChoice serves as an independent intermediary between you, financial institutions and licensed professionals without any additional charge to our users. In the interest of transparency, we disclose that we partner with some of the providers we write about – we also list many financial services without any financial gain. MyChoice does not operate a financial institution or brokerage and to ensure accuracy, our content is reviewed by licensed professionals. Our unique position means that we hold no recurring stake in your policy, ensuring our mission to help Canadians make better financial decisions is free of bias or discrimination. 

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Monthly PremiumsDate & TimeQuote TypeAgeGenderPostal Code
$79.61Mar 17, 2024, 02:51 PMAuto57MaleM6M2M9
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Article Contents
By <span>Aren Mirzaian</span>
By Aren Mirzaian

Updated on March 12, 2024

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

Updated March 12, 2024

Visit author page

17 minute read

Article Contents

How Can You Get Cheap Car Insurance in Toronto?

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

Compare Rates Between Insurers

Toronto 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 Toronto 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 Toronto.

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 Toronto

  • There are around 575,260 regular drivers in Toronto.
  • The average annual car insurance cost in Toronto is $1,952.
  • Toronto has an 8.27% collision rate, one of the highest in the country.
  • The average age of Toronto drivers is 40.6 years old.
  • Comparing Toronto auto insurance quotes with MyChoice can save you up to $963 annually.

Who Provides Car Insurance Quotes in Toronto?

Insurance brokers, agents, aggregators, and direct writers provide car insurance quotes in Toronto. 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 Toronto 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 Toronto

Without prior experience, finding and buying car insurance in Toronto alone can be frustrating. Fortunately, you can work with car insurance brokers to make the process easier. Depending on the nature of their business, car insurance brokers either sell policies from multiple companies or exclusively offer products from one insurer. We also work with insurance brokers to help you find the best rates.

Brokers can help you find the insurance coverage you need at a price you can afford. Here are some of our car insurance brokerage partners in Toronto you can visit for your auto insurance needs:

BrokerageAddressPhone number
Billyard Insurance Group – St. Clair691 St Clair Ave W 2nd floor,
Toronto, ON M6C 1B2
416-814-7577
MITCH Insurance Brokers110 Yonge St,
Toronto, ON M5C 1T4
888-401-4697
Leibel Insurance Group401 Bay St. Suite #1600,
Toronto, ON M5H 2Y4
416-238-8338

How Does Car Insurance Work in Toronto?

Just like in other places, car insurance in Toronto works by providing a financial benefit if you or your car is involved in an accident. As with the rest of Canada, auto insurance is mandatory, meaning you must have car insurance to avoid fines and licence suspensions.

If you get caught driving without insurance, insurers will flag you as a high-risk driver and raise your premiums. Naturally, it’s a problem – higher rates mean you must spend more money before you can legally drive. For this reason, having auto insurance is a must before buying a car and driving in Toronto.

So, what’s included in Toronto auto insurance? Here, we break down the main parts of your Toronto auto insurance policy:

These are the mandatory coverage all Toronto drivers need:

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 Toronto. 

Once you meet the minimum car insurance coverage requirements, you can legally drive in Toronto. 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 Toronto 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 Toronto. 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 Toronto 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 Toronto

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 Toronto car insurance quotes:

Age, Gender, and Marital Status

Your personal demographics influence auto insurance premiums in Toronto 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 Toronto 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 Toronto

In 2021, the average auto insurance rate in Toronto is $1,952. However, some areas in Toronto are more expensive than the rest. 

As of 2021, Toronto’s three most expensive postal codes are M3N and M9M at $2,746/year, M3L, M3J, and M9N at $2,685/year, respectively, and M9L at $2,623/year. 

Check the table below for our detailed look at the five most expensive wards for car insurance in Toronto: 

AreaPostal codeAverage annual car insurance premiums
Humber River – Black CreekM3N, M3M$2,746
Humber River – Black Creek/
York Centre/York South-Weston
M3L, M3J, M9N$2,685
Humber River – Black CreekM9L$2,623
Scarborough North/Scarborough
-Rouge Park/Scarborough Centre/
Scarborough-Guildwood/Scarborough Southwest
M1B, M1J, M1K$2,562
Scarborough Centre/Scarborough
Southwest
M1R, M1L$2,536

Least Expensive Postal Codes in Toronto

Although it’s the largest city in Canada, Toronto has some areas with low car insurance premiums. 

As of 2021, there are three postal codes where car insurance rates are well under the city average. These three postal codes are M4X, M4W, M5B, M5V, M5S, M7A, M5J, M4Y, M5H, M5G at $1,620/year, M2N at $1,652/year, and M6P, M8Y, M5T, M8Z, M8X, M6J, M8W, M6R, M8V, M6H, M9B, M6K, M6S at $1,684/year.

Check the table below for MyChoice’s detailed look at the three most affordable wards for car insurance in Toronto: 

AreaPostal codeAverage annual car insurance premiums
Toronto Centre/ University-Rosedale/
Spadina-Fort York
M4X, M4W, M5B,
M5V,M5S, M7A, M5J,
M4Y,M5H, M5G
$1,620
WillowdaleM2N$1,652
Davenport/Parkdale-High Park
Etobicoke-Lakeshore/ University-
Rosedale/ Spadina-Fort
York/ Etobicoke Centre
M6P, M8Y, M5T, M8Z,
M8X, M6J, M8W, M6R,
M8V, M6H, M9B, M6K, M6S
$1,684

Car Insurance Cost in Toronto by Age

Your Toronto car insurance cost changes depending on how old you are. Younger people typically pay higher premiums, which get lower as they age. However, premiums will rise again once they hit 65.

Here’s a detailed look at car insurance costs in Toronto categorized by age and how much you can save if you use MyChoice:

Age groupAverage costAnnual savings with MyChoice
18-20$6,968$1,386
21-24$3,982$792
25-34$2,654$528
35-44$1,952$388
45-54$1,600$318
55-64$1,360$271
65+$1,551$308

Car Insurance Cost in Toronto by Driving History

Your driving history determines car insurance rates in Toronto because it’s a good way to gauge your overall risk. If insurers think you’re a safe driver based on your driving history, you’ll get lower premiums. Conversely, having many accidents on your record means you’re a high-risk driver who may get higher premiums.

Driving violations stay on your record for years, so you may need to buy specialized high-risk driver insurance to drive legally. Here’s a quick look at how different types of traffic violations can influence your insurance rates compared to a clean driving record, based on MyChoice’s price quote data:

Driving violationAverage annual car insurance rate
Clean driving record$1,952
Insurance cancellation due to non-payment$3,201
Licence suspension for alcohol-related offences$2,342
One accident$4,294
Speeding ticket$2,537

Other Factors That Affect Car Insurance Prices in Toronto

We’ve covered several factors that influence car insurance rates in Toronto. Aside from those, several extra factors play a part in determining your Toronto 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 Toronto

As the largest city in the nation, Toronto has a lot of busy traffic. It pays to know essential information about driving in the city, so you can regulate risk and have the smoothest driving experience possible.

Here are some important details about roads, transportation, and tourist attractions in Toronto:

  • Major highways in Toronto: 401, 404, 407, Queen Elizabeth Way, Don Valley Parkway, and Gardiner Expressway
  • Public transit options: TTC (subway, bus, and streetcar), Metrolinx GO Transit (bus and trains)
  • Essential toll roads: 407 ETR
  • Ridesharing services: Uber and Lyft
  • Road trips around the city: Niagara Falls, St. Catharines, Kawartha Lakes, Muskoka cottage country and Lake Rosseau, Bruce Peninsula National Park, Blue Mountain, Algonquin Park
  • Parking space providers: City of Toronto Parking, Green P, Impark, private parking spaces
  • Top tourist attractions: CN Tower, Royal Ontario Museum, Art Gallery of Ontario, Ripley’s Aquarium of Canada, Toronto Islands, Toronto Zoo, St. Lawrence Market, Casa Loma
  • Busy intersections: Eglinton Ave. West and Martin Grove Road, Lawrence Ave. West and Black Creek Drive, St. Clair Ave. East and Mount Pleasant Ave., Finch Ave. and Yonge Street, Sheppard Ave. and Yonge Street
  • Airports: Pearson International Airport and Billy Bishop Toronto City Airport

Main Mode of Commuting in Toronto

A vast majority of Toronto’s commuters travel by personal vehicle, making up 61% of the city’s commuters. However, Toronto is also a public transit-friendly town, with 26.2% of the city’s commuters preferring it. Here’s a closer look at the main modes of commuting in Toronto:

Main mode of commutingCountsRates
Total – 25% sample data791,470100.0
Car, truck or van482,48061.0%
Car, truck or van – as a driver424,98553.7%
Car, truck or van – as a passenger57,4907.3%
Public transit207,68026.2%
Walked60,6157.7%
Bicycle15,7502.0%
Other method24,9453.2%

Commuting Duration in Toronto

Toronto is a big and busy city, so it makes sense that commute times can be a little long. 31.8% of Toronto’s commuters spend 15 to 29 minutes getting to work, while 28.1% of them spend 30 to 44 minutes doing so. Here’s a detailed look at the commuting duration in Toronto.

Commuting durationCountsRates
Total – 25% sample data791,470100.0
Less than 15 minutes130,35516.5%
15 to 29 minutes251,79531.8%
30 to 44 minutes222,01528.1%
45 to 59 minutes88,65511.2%
60 minutes and over98,65512.5%

Driving Conditions in Toronto

Your accident risk and insurance premiums may rise or fall depending on current driving conditions. Here are some key facts about driving conditions in Toronto:

  • Average daily commute time: 96 minutes both ways
  • Average annual rainfall: 831 mm
  • Average annual snowfall: 121.5 cm in winter
  • Rainy days per year: 136 days
  • Rainiest month in Toronto: July
  • Driest month in Toronto: February
  • Snow days per year: 45 days
  • Snowfall months in Toronto: November through April

Traffic in Toronto

Toronto is home to millions of people driving over one million cars. It’s a very busy city, and knowing the key facts about traffic in Toronto can help you regulate risk and ensure you don’t overpay for insurance. 

Here are some fast facts about traffic in Toronto:

  • Population: The Greater Toronto Area (GTA) boasts a population of over 6.4 million. 
  • Road length: Toronto boasts over 5,600 kilometres of road spread across 9,250 streets.
  • Daily commuters: Over 2.7 million people commute to Toronto every day.
  • Time spent in traffic annually: Most Torontonians spend about 47 hours each year stuck in traffic.
  • Average number of passengers in each vehicle: 67% of car trips in and out of Toronto are solo trips.
  • Busiest highways: Toronto’s portion of Highway 401 is the busiest highway in North America. Average Annual Daily Traffic data records over 400,000 vehicles that pass through it daily.

The bottom line is that Toronto is big and extremely busy. If you want to drive in Toronto, you need to be prepared for lots of traffic and congestion. In addition to traffic, you must deal with pedestrians and cyclists, meaning you need to really focus when driving in Toronto. Even if you practice good driving habits, Toronto auto insurance is mandatory. Get a quote with MyChoice and find the best insurance deals by comparing the entire market.

The Most Common Questions About Car Insurance in Toronto

How much is car insurance in Toronto?

The average car insurance cost in Toronto is $1.952/year or roughly $163/month. You can get higher or lower premiums depending on your risk profile, personal demographics, and other factors.

Is there first-time car buyer insurance in Toronto?

There’s no specific first-time car buyer insurance in Toronto. However, if you’re a student or underage driver, you can ask to be included in your parent’s auto insurance policy. This way, you don’t have to pay for insurance yourself.

Can Toronto police stop you?

Toronto police officers can legally stop you for any reason, whether they believe you’ve committed a crime or not. They also have the power to ask for your licence and vehicle registration. Failure to comply may lead to an arrest.

When should you change to winter tires in Toronto?

Most of the time, Toronto drivers should change to winter tires from late October to mid-November. 

Outside those months, you may need to use the “7-for-7” rule. If there have been seven consistent days of temperatures below 7 degrees Celsius, you should change to winter tires even if it’s not the usual winter months.

Is there high-risk auto insurance in Toronto?

Some insurance companies offer high-risk auto insurance for Toronto drivers. These insurance policies may have higher premiums to offset your increased risk, but they’re your best bet if you want to drive legally in Toronto.

How do you switch auto insurance in Toronto?

You can switch auto insurance simply by cancelling your current policy and purchasing a new one. You must have insurance if you want to drive legally, so ensure your new policy is ready before cancelling your current one.

How much is car insurance in Toronto after getting a G2 driver’s licence?

G2 driver’s licence holders may need to pay 25-50% more on car insurance in Toronto. G2 drivers are charged higher rates because most insurers see them as high-risk drivers due to inexperience. 

How do the police check my car insurance in Toronto?

The police in Toronto can check your car insurance by checking your licence plates with an ALPR (Automated Licence Plate Recognition) camera. In addition to that, they can pull you over and ask for your insurance documents. 

How to cancel my car insurance in Toronto?

You can cancel your Toronto car insurance if you want to suspend payments or change to another insurer by contacting your insurance company. Here’s a quick three-step guide to doing it:

1. Read your policy to learn the rules regarding policy cancellations.
2. Contact your insurance provider about cancelling your policy. Some insurers take cancellation requests by phone, while others require you to submit a written request.
3. Ask your insurance provider for proof of policy cancellation in writing.

Before going through with your cancellation, ensure you already have a new policy lined up and ready to kick in once your old policy ends. If not, you can’t legally drive until you activate your new policy.

What do I need for car insurance in Toronto?

You need to provide several documents when applying for car insurance in Toronto. Here’s what you need:

– A valid driver’s licence
– Your current insurance policy, if available
– A record of your traffic violations within the last three years
– A record of previous insurance claims within the last eight years
– Your vehicle’s make, model, and production year

If you’re still shopping for a good auto insurance policy in Toronto, use MyChoice to find the best deals.

How do Toronto car insurance rates compare to other cities in Ontario?

At $1,952/year, Toronto is the seventh most expensive city for car insurance in Ontario. At the top spot is Vaughan, with an estimated average car insurance rate of $2,179/year – well above the overall Ontario car insurance average of $1,634.

Why do Toronto car insurance rates change so often?

Toronto car insurance rates often change because of factors like inflation, the rising cost of living, and changes in vehicle risk. Generally, car insurance rates change at the start of every policy year, pending approval from the Financial Services Regulatory Authority of Ontario (FSRA).

Does adding a G1 or G2 driver affect my Toronto car insurance?

Adding a G1 or G2 driver to your Toronto car insurance policy might increase your premiums. Letting an inexperienced person drive means your vehicle’s risk of getting into an accident increases, leading to higher rates.

However, it’s still a good idea to add a G1 or G2 driver to your policy if they drive your vehicle often because it might be cheaper than a standalone policy.

When is the best time to compare car insurance in Toronto?

The best time to compare car insurance costs in Toronto is near the end of your policy year. If your policy renewal is approaching, search the insurance market to find a better deal than the one you have now.

How can I get the most affordable car insurance rates in Toronto?

You can get the most affordable car insurance rates by following these tips:

– Research multiple insurers to find the best deals.
– Bundle home and auto insurance.
– Ask for higher deductibles.
– Pay premiums annually.
– Practice safe driving habits.
– Take accredited driving lessons.
– Purchase easily-repaired cars.

Is car insurance mandatory in Toronto?

Car insurance in Toronto is mandatory, as in the rest of Canada. Drivers who are caught driving without insurance may be fined or have their licence suspended.

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, Toronto, Car Insurance Quotes Collected, 2023.

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

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

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

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

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

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

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

9. 511 Ontario Traveller Information, Ontario, Toronto.

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