Auto insurance in Kitchener
To understand auto insurance premiums in Kitchener, it is important to understand how the Ontario market performs against the rest of Canada and why the province is so expensive to insure a vehicle.
Firstly, it is important to know that insuring a vehicle in Ontario is not really expensive. It is something of a myth that has built up because some areas in the province are hugely expensive. For example, customers living in northern regions of Ontario are paying averages that meet national expectations.
However, Toronto and the surrounding Greater Toronto Area (the Golden Horseshoe) are very expensive for drivers to insure a vehicle. The provincial average is currently at around $1,450, but in the GTA region customers are paying anywhere from $1,700 to $2,300 on average. It is this market that drives up Ontario’s average insurance price overall.
So, where does the City of Kitchener stand in this situation? Somewhere in between is the simple answer. It is not as affordable as northern Ontario or some population centres like Barrie, but it is more affordable than the Greater Toronto Area.
Indeed, Kitchener represents a unique market because it shows the two sides of Ontario auto insurance costs. For example, the South Central and Kitchener East areas have an average price of between $1,300 and $1,600. This makes it near or above the average province cost for many motorists. However, the Northwest and North Central regions have an average price of around $1,130, which is lower than the Ontario average.
Needless to say, it is usually the case that location is a factor in how insurers calculate the price of a policy. In Kitchener, where you live is even more important.
There are other factors to consider when an insurance provider calculates your coverage:
Driving Record: Arguably the most important factor in determining auto insurance in Barrie is your driving history. Traffic infractions such as DUIs or previous failed insurance payments will act negatively upon the cost of coverage. For example, a driver with one license suspension in the last six years will pay over $3,000 for their car insurance on average. This is more than double the average cost for the city ($1,000-$1,300).
Policy Options:All insurers offer a basic insurance policy under Ontarian regulations. However, customers can add to their policies with added benefits and coverage. These extras can add cost to the overall price of the policy.
How much and How far: Simply put, if you use your car regularly and drive long distances, your insurance will be more expensive on average than a driver who uses their vehicle less.