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Car Insurance in Markham

Markham is a city that sits within the Regional Municipality of York that makes up part of the Greater Toronto Area (GTA). Its position as an important part of the Golden Horseshoe and strong industry ties makes Markham an important business hub in Ontario. This has driven population growth in recent decades and consequently led to Markham being among the most expensive auto insurance markets in Canada.

The 2011 census showed that the population of Markham stood at 301,709, but today (2016) the population is believed to be nearly 350,000. This makes the city the fourth-largest community in the Greater Toronto Area. Only Toronto, Mississauga and Brampton are more populated than Markham, although it is only since July 1, 2012 that the community has been classed a city.

It is quite an honor to have a town named after you. William Markham lends his name to the city of Markham after John Grave Simcoe named the original settlement after his friend. Simcore was the Lieutenant-Governor of Upper Canada between 1776 and 1807, while Markham was the Archbishop of York between 1776 and 1807.

Despite playing host to an array of industries today, Markham’s heritage is of a town focused on agriculture. However, after World War II, the town started to develop and become and urbanized center for commerce and business, while also acting as a satellite to Toronto. This development was accelerated upon the completion Highway 404 during the mid-1970s. The highway connected Markham with Toronto and has meant traffic growth around the city has been rapid, another contributor to high insurance premiums in Markham.

Since its days as an agricultural hub lessened, Markham turned to other industries. Now it is a noted location for business services, while in 2010 accounted for 22% of the city’s total workforce. Technology and life science have also found a home in Markham, with IBM serving as the largest employer in the city.

A diverse range of multinational industries are represented by Canadian headquarters that are located in Markham. Some of the companies based in the city include: Honda Canada, Hyundai,[9] Advanced Micro Devices,[10] Johnson & Johnson, Avaya,[11] IBM,[12] Motorola,[13] Oracle,[14] Toshiba,[15] Toyota Financial Services [16] and Honeywell.

Auto Insurance in Markham


Markham is located within both the Golden Horseshoe and Greater Toronto Area. It is a center of business and commerce and helps to make up an urban sprawl that is the most economically fruitful in Canada. This area also carries a notoriety for having average auto insurance premiums that are the most expensive in Canada. Markham is certainly no exception to the rule.

The city is very expensive for customers insuring a vehicle. Ontario as a whole carries the highest premiums in the country, with a provincial average of around $1,400.

The Greater Toronto Area is the base that makes the average across the province so high. The top ten most expensive insurance markets in the country are located in the Golden Horseshoe region, and Markham is among them.

With an average auto insurance premium of $1,886, Markham is the fourth most expansive auto insurance market in Ontario and in Canada. Drivers in the city pay on average 30% more for their car insurance than the provincial norm. There are a number of factors that cause this, and here are some of the most important:

Insurance companies charge too much – The private auto insurance industry has been widely criticized for allowing rates to go too high over the last number of decades. In response, companies insist that market conditions resulting from other factors mean that premiums must be high to offset risk. In Ontario, companies assess insurance on factors such as driving experience, driving record, type of vehicle, policy required, and age/gender.

However, insurers will also look at external factors, such as the location a vehicle will be stored and used, how busy the area is, the amount of traffic, theft rate, and likelihood of a collision. Because of the population, size, and location of Markham, insurers essentially hedge their bets with high premiums to avoid losing money.

Fraud – Unfortunately, auto insurance fraud is a major problem in Ontario, with the focus on the Greater Toronto Area. Crime rings have formed that ship vehicles overseas and claim them as stolen to insurers. It is believed fraud costs customers over $1 billion per year and hundreds of dollars could be saved on an average premium if fraud was removed entirely.

Government failures – The government spent too many years ignoring the constant growth of premiums in Ontario. Over the last three years, the provincial government has enacted a number of initiatives to lower costs. It is a slow progress, but the hope is premiums will eventually fall.

Affordable Auto Insurance in Markham


Because Markham drivers pay 30% over the Ontario average for car insurance, getting the very best deal available is essential. Shop Insurance Canada employs a quote engine that provides near instant results and allows customers to find the best policy for them at the very best price.

Really, in Ontario, the only way to feel anyway good about an insurance premium is to shop around. Still, some customers avoid shopping and take the first quote that comes their way. This is a huge mistake and means paying hundreds of dollars more than is necessary. Customers who do not shop around are almost always overpaying for coverage.

Comparing quotes is crucial for customers who want the best value for money and a policy that meets their specific criteria. Shopping around manually is a time consuming chore, which is why our quote engine is so useful:

  • We scour more than 25 of Canada’s leading insurance providers to come up with a list of quotes that offer you the very best coverage at the very best price.
  • Our team of brokers—not agents—works for you, not an auto insurance company.
  • We are based in the Toronto, so understand the market and the challenges of insuring a vehicle in the city.
  • Shop Insurance Canada can quickly provide impartial advice when it matters most.
  • We act as an intermediary between you and the auto insurance companies to find you the lowest Toronto car insurance quote available.

Car Insurance Premium By Province


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