The Greater Toronto Area is Canada’s most populous – and most densely populated – region. Mississauga began life as a collection of towns west of Toronto’s city limits. It wasn’t until 1968 that Mississauga was established as a town. Six years later it was incorporated as a city. Its growth as a Toronto suburb was aided by its proximity and location along major rail lines and two of Canada’s busiest highways, the 401 and QEW. As part of the GTA, Mississauga is subject to some of the highest car insurance prices in Canada. While each postal region, even within cities, has its own insurance risk rating, city averages show that Toronto drivers pay more than their suburban counterparts to the west.
2015 Car Insurance Rates
Comparing the most recent annual numbers, insurance rates were calculated across Ontario for an average motorist with a clean driving record. As Canada’s first and seventh largest cities, respectively, Toronto and Mississauga not surprisingly both placed in the top ten for annual car insurance premiums. Neither city made the top three, however. That notoriety belonged to Brampton, Woodbridge and Vaughan, suburbs across Toronto’s northern boundary.
Across the province, the model driver paid just over $1,500 annually. The same driver, located in Mississauga, paid about one-quarter more, around $2,000 each year, or about an extra $42 a month.
Move that driver into Toronto and they fare a little worse than Mississauga, paying about an additional $20 annually for the same coverage.
Toronto, being the large and diverse city that it is, experiences extensive variation in car insurance rates within its city limits. Surprisingly, the least expensive car insurance rates in Toronto dipped below the provincial average. These neighbourhoods were downtown, where residents are more likely to use transit alternatives, even when they own a car. The most expensive areas added $400 or more to the average Toronto city costs, coming in around $2,400 annually. These regions are in the northern corners of the city, both east and west.
Lowest Cost Car Insurance in the GTA
The differences in car insurance costs are probably not enough to make a motorist consider moving between Mississauga and Toronto. Location is only one of many factors that go into your car insurance costs. No matter where you live, there are some tips that can save you money using other insurance pricing factors.
- Keep it clean – your clean driving record is the single biggest factor in determining your car insurance premium. While statistical factors do play a large part, these are largely out of your control. Practicing safe driving habits and observing traffic laws is the best way you can determine your own insurance destiny.
- Go for the Combo – combining your home and auto insurance policies with one company can create savings up to 15 percent.
- Don’t Diss the Discount – signing up for usage-based insurance programs, using winter tires and other practices may qualify you for discounts. Ask your agent or broker what may be available to you.
- Shop Around – When it’s time to renew, don’t let loyalty discounts stand in the way of comparison shopping. Every insurer is different, so there may be a cheaper alternative. Use the RateFinder car insurance calculator tool to locate the most affordable companies for your needs.