Canada’s largest city is also home to some of North America’s worst traffic jams. Commuters in the Greater Toronto Area can even have longer average drives to work than even the smog-choked freeways of Los Angeles. Lately, Vancouver has been edging Toronto, and improvements are being made in the GTA, but it remains that if you want a short drive to work, Toronto is not your town.
All that driving has an impact on the cost of operating a car. Not only will you spend more on gas than a driver travelling the same distance in non-congested traffic, but there are also specific wear-and-tear aspects that free-moving traffic doesn’t cause. And let’s not forget car insurance. With the extra time spent on heavily traveled roads, the greater the risk that you will have a traffic incident that results in an insurance claim. Even if you don’t, those in your area who do drive insurance company statistics way up, and you will end up paying more if you live in an area with a history of higher claims.
Car Insurance Costs in Toronto
All of the GTA suffers to an extent from higher car insurance premium. A recent study considered an average driver with an average car, choosing an average auto insurance policy. Calculating annual premiums, the study found that this driver would pay from $1,014 to $2,393 depending on where in Ontario the driver lived. That’s a spread of almost $1,400.
The average Toronto driver paid just over $2,000 under that study’s test scenario. In the surrounding area, Mississauga, Thornhill, and Markham all paid less than Toronto, while Vaughan, Woodbridge, and Brampton all paid more. Brampton has the dishonourable mention of the most expensive area in Canada for car insurance.
Factors that place Toronto under the higher priced suburbs could include car owners driving less and using transit more. Car insurance fraud seems to be rampant in the northwest of Toronto and Brampton. Inflated insurance claims due to crime may be driving up claims costs and car insurance premiums as a result.
Finding Low-Cost Auto Insurance in Toronto
Though insurance companies draw from the same statistical data to calculate car insurance premiums, each company uses its own “recipe” to try to gain an edge over its competitors. For that reason, not every car insurance company will charge you the same price.
The best way to narrow the field and identify who has the lowest cost insurance for your needs is through the QuoteFinder car insurance calculator. It’s a free service that’s anonymous as well. You can enter the pertinent driving and personal information without identifying yourself. You can even get a quote while car shopping, to see if one vehicle costs less to insure. QuoteFinder will take your information and identify the lowest prices for the insurance you want. You can then choose your insurance company with confidence that you’re getting a competitive price. The more accurate the information you enter into the calculator, the more accurate your quotes will be.
Part of your annual vehicle operation cost, insurance premiums represent a substantial chunk of your income. The average driver in Ontario spends about 3.5 percent of his income on car insurance, the highest rate in Canada.
In the city of Toronto, premiums vary widely, due to high volumes of traffic and areas with historically more accidents occurring within them. Your postal code has a lot to do with how much insurance you pay. A quick, easy and free way to assure yourself you’re getting a competitive rate is through using a car insurance calculator.
What Is a Car Insurance Calculator Toronto?
Making use of deep Internet searches, a car insurance calculator takes your information and factors in the long list of variables involved to present estimated quotes on the coverage you need.
Not all insurance calculators are created equally. Many insurance companies offer convenient quote generators, though these are limited to their own products. You’ve already found a car insurance calculator – right here on this page — that takes your information and generates the best quotes from several insurance providers, after searching through dozens of companies. Simply enter your postal code to get started. The more information you add, the more accurate your quote will be.
Toronto Postal Codes
Where you live is only one of the factors that affects your car insurance premiums. Your final rate depends on other things such as your driving record, the make, model and year of your vehicle, where and how much you drive.
When looking at average insurance rates for Toronto neighbourhoods, there is a huge spread between lowest and highest rates.
Top 5 Highest Average Neighbourhoods by Postal Code
- M3N – North York/Downsview $2,422 annually
- M9V – Etobicoke/Albion $2,418
- M1X – Scarborough/Upper Rouge $2,373
- M1B – Scarborough/Malvern $2,370
- M9L – North York (Humber Summit) $2,343
Top 5 Lowest Average Neighbourhoods by Postal Code
- M6G – Downtown/Christie $1,479 annually
- M5P – Central/Forest Hill North $1,486
- M4P – Central/Davisville North $1,503
- M4S – Central/Davisville $1,505
- M6J – West Toronto/Trinity $1,511
The difference is tremendous, almost $1,000 between high and low premiums. Some of the reasons for this difference is that the downtown and central areas may have more people using transit regularly and that those in the northeast and northwest corners are more likely to drive greater distances and on a daily basis as part of their work commutes.
Considering that the average car insurance bill in Ontario was about $1550 in 2012, there isn’t much of a break on rates anywhere in Toronto. The best you can hope for is a premium about average. Since every car insurance provider calculates premiums in their own way, using their own formulae, it makes sense to use a car insurance calculator that searches many companies, whether you’re shopping for first-time insurance, upgrading or renewing existing coverage. Enter your postal code here and get started.
The car insurance calculator Toronto is particularly useful for persons wanting to buy an auto insurance policy. The calculator helps in determining a rough estimate of the possible premium payable for the insurance. This helps you in making the best of decisions as regards your auto insurance policy. This means that you are able to estimate your insurance cost for your car allowing you to plan your expenses and go for a plan that fits perfectly into your budget.
The car insurance calculation is also a great solution that can help in the comparison of different auto insurance quotes. It makes it possible for you to find the best car insurance quotes that satisfy your need and fits your situation.
The car insurance calculator Toronto is also a time-saving tool as you are able to save some time that would have been otherwise spent on trying to find the best possible quote. It does not just help you find the most appropriate quote; it ensures that you are getting the right service as you get the coverage that is best for your car in all aspects. This allows you to put all the factors involved into consideration before you make your decision.
Getting the best car insurance requires that you get the adequate support needed that covers all aspect of the insurance policy and even as you try to secure your car against loss due to damage or theft, the decision you make in the process of selecting your auto insurance policy can make or mar the essence of buying car insurance in the first place. This makes it even more important to employ the use of a car insurance calculator Toronto as it ensures you make an informed decision in your choice of auto insurance deal and you can be sure of nothing but quality service.
Once you are able to effectively use the car insurance calculator Toronto for the selection of a car insurance deal, the next step is to find out the precise cost of the coverage, allowing you get the best service possible from the quote.
Car insurance calculator Toronto is your key to getting the best insurance policy at an amazing deal. You, therefore, want to be sure you have it handy and enjoy the benefit that comes from using it, which is, of course, getting the best coverage for your car without having to go through too much unnecessary stress.
Tips for Getting the Best Possible Toronto Car Insurance Rates
Sometimes being cheap isn’t a bad thing. if you’re a driver in Toronto, you’re probably well aware that car insurance can eat up a huge portion of your monthly budget unless you’re willing to get creative and find lower rates or other ways to save. If you live in the Toronto area and want to save money on your auto insurance premiums, read on for some tips for getting the lowest Toronto auto insurance rates.
1.) Give plenty of details to your insurance company.
You’ll need to fork over information about your postal code, marital status, car’s features including safety add-ons and more. Talk about your daily commute, how far you go and any other details you can think of. Insurance companies will automatically provide you with the highest worst-case scenario quotes unless you give them details to help them find discounts and lower rates because of low mileage or other perks.
2.) Shop around and get quotes from several companies.
You’d be surprised, but auto insurance rates can vary greatly between providers. You can save as much as 300% just by picking a different company that offers the same coverages you’re used to. When you’re shopping around, don’t forget to call your current company – they may be able to lower your rates or give you a new-customer discount that you wouldn’t otherwise be eligible for.
3.) Increase your deductible.
Nobody likes this idea, but a higher deductible means lower insurance rates. Going from $250 to $500 can save you over a hundred dollars on your insurance premiums, but you need to make sure that you have the extra resources needed to cover the deductible in the event of an accident.
4.) Drive less.
This is easier said than done. If possible, find out what you need to meet the threshold for a driving discount and then divide that by the number of days that you drive the car. Aim to drive less than that number each day. Some ways you can lower your driving include carpooling, public transportation or working from home. Even just taking public transportation for a vacation can save you in the long run.
5.) Change primary drivers on your plan.
If you’re married, look at insurance quotes between the male as the primary driver and the female as the primary driver. You may find that you can save money by simply listing the female as the primary driver for the more expensive vehicle. You should also only insure young drivers on the safest car you own rather than a sports car.
6.) Get an anti-theft device installed in your car.
A car alarm or a tracking system can help get you a discount from your insurance company. Anti-theft devices reduce the risk of your car being stolen, thereby lowering your risk and netting you some good savings on your insurance plan. You can also take a defensive driving course if your insurance company will allow you to in order to lower your rates.