In the 19th Century, the city now known as Markham was actually over 40 smaller communities, north and east of present-day Toronto. The fourth-largest city in the GTA and 16th largest city in Canada, Markham was only boosted from town to city status in 2012. The area really only took on an urban nature in the years after World War II, with a further boost after Highway 404 was completed in the 1970s.
While Markham got its start as an agricultural region, it’s now known for its high tech industry concentration. With available land, low taxes and transportation access, the city has attracted IBM Canada, Motorola Canada, Honeywell Canada and a number of smaller technology players. With this strong employment base, Markham may be bypassing some of the factors that contribute to extremely high car insurance costs in other outlying GTA centres.
Car Insurance Costs in Markham
Markham occupies about the same space northeast of Toronto as Brampton does in the northwest. Brampton has the distinction of being the most expensive place in Canada to insure a car. While virtually all of the GTA pays more than average for car insurance, some spots are comparatively less expensive. Using 2015 figures for a single adult driver with an average sedan, the median cost for a standard insurance package was a little over $1,500 annually. Markham came in at just over $1,800 for the same coverage, about 17 percent higher than the provincial average. Compared to Brampton, however, Markham’s car insurance seems like a steal. At $2,400, Brampton drivers paid, on average, $600 more than Markham, and about 44 percent higher than the average motorist in Ontario.
Southeast Ontario, around Belleville, Kingston and Napanee, drivers paid only $1,000 for the same coverage, 50 percent less than provincial average.
The Lowest Cost Car Insurance in Markham
As long as Ontario’s minimum mandatory insurance levels are met, a Markham driver has a number of ways to control the cost of car insurance by trading off coverage for premium price. Typical methods are to choose higher deductibles for collision and comprehensive insurance coverage. While you will pay more in case of an insurance claim before the insurance company kicks in, you’ll pay less each month for car insurance coverage. Drivers with older vehicles may wish to go without collision and comprehensive coverage. It’s not mandatory, and when a motorist is prepared to write off the car in case of an accident, it can further reduce premiums.
Using QuoteFinder’s car insurance calculator, available on this page, is another way to assure you’re paying the lowest premiums in Markham for your personal car insurance needs. Simply enter your car and driving information and let QuoteFinder search through dozens of insurance companies to find the lowest cost providers available to you. All quotes are based on the same information, so you will have a the numbers you need to choose the insurer you want.