The average annual cost of car insurance premiums in Toronto is $2,071. This works out to about $172 per month. This is close to $500 more than the provincial average of $1,634.
How much is car insurance monthly in Toronto?
The average monthly car insurance rates in Ontario are between $125 to $158, depending on which part of the province you live in. This is the highest average car insurance rate among all provinces in Canada.
How to get cheap car insurance in Toronto?
Torontonians pay some of the highest rates for auto insurance in Ontario, and this is largely due to the statistical risk factors of driving in the city. Densely populated areas are more prone to car accidents, simply because there are more people walking, biking, and driving at the same time.
Why is Toronto car insurance so expensive?
Yes, $300 a month for car insurance is expensive. The average cost of car insurance ranges from about $60 per month for state-minimum coverage to $166 per month for full coverage, though individual car insurance rates vary based on factors such as driving record, age and location.