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A big-city oasis in the middle of rural southwestern Ontario, London is Canada’s 11th largest city. Serving as a banking, education and manufacturing centre, the area’s flat geography has led to a sprawling, spread out the city. No transit beyond buses means that the population is largely car-based, and with a downtown area that lacks parking and grocery shopping, much of the population lives outside the city’s core.

Car Insurance Premiums in London

Though London is the sixth largest city in Ontario, it doesn’t score in the top ten for expensive car insurance. The average driver pays a little more than the provincial average though, likely due to the size of the city. Though London has about 140,000 fewer residents than Brampton, for example, it is about 160 square kilometers larger than the more populous GTA city.

This population to area ratio has two effects when it comes to influencing car insurance rates. The larger area of London means it’s more likely that more people drive a greater distance compared with other municipalities. On the flip side, though, there shouldn’t be the same congestion as other centers, so collision risk is reduced.

There’s no inner city or ring freeway. Though highways 401 and 402 skirt the city to the south and west, neither is a conventional rush hour route for commuters, so highway traffic accidents, with the potential for more expensive insurance claims due to speed and multiple car incidents, aren’t as prominent as in other centres.

Affordable Car Insurance in London

As an Ontario city, cars must be insured to operate on city streets. Working under the provincial system, which is a mix of no-fault and tort-based insurance, a London motorist has a number of ways to control the cost of car insurance.

Mandatory coverage is required and this consists of third-party liability coverage, statutory accident benefits coverage, uninsured automobile coverage, and direct compensation-property damage coverage. Ontario requires only $200,000 in third party liability, but many motorists opt for $1 million in coverage as a more realistic dollar amount and the additional cost is small.

Additional liability and accident benefit coverage are available as well. These additions are likely to become more popular as the Ontario government is reducing and combining coverage amounts to aid the insurance industry corral out of control car insurance premiums.

Collision and comprehensive insurance are also available to protect drivers from the cost of repairs in collision and non-collision incidents, respectively.

QuoteFinder’s Car Insurance Calculator

To assure you’re paying the lowest premium for your car insurance, checking rates with QuoteFinder’s car insurance calculator provides a concise overview of the lowest prices available for your car insurance situation. It gives accurate quotes based on your London or area postal code. Enter your other data and QuoteFinder will check dozens of car insurance providers, returning the lowest cost quotes.

About the Author: Robert Davis

He is an insurance content professional with vast knowledge and a special aptitude and interest in imparting insurance education. He has authored many articles on insurance.

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