Any driver in Ontario will know that the province is home to excessively high auto insurance premiums. Indeed, statistics show that Ontario is the most expensive car insurance market in Canada, with an average premium of $1,551.
While insuring a vehicle in the province can be prohibitive, there are some areas of Ontario where auto insurance prices are more reasonable. Luckily, North Bay is one such place. Compared to the provincial average, car insurance in North Bay is a bargain.
Location is hugely important. Ontario’s high auto insurance market is mostly caused by the Greater Toronto Area and the Golden Horseshoe. The most populated region in Canada, the Golden Horseshoe is rife with fraud and auto insurance premiums are expensive to reflect prime location, increased change of theft and collision, and fraud.
North Bay is located hundreds of kilometres from Toronto, so the city escapes the influence of the GTA region. Average auto insurance premiums in North Bay are around $1100, or nearly $400 more affordable than the provincial average.
While the average car insurance premiums in North Bay is a bargain in Ontarian terms, it is still expensive compared to other Canadian provinces. Indeed, if the city was a province, it would be the third most expensive in the country, with only Ontario ($1,551) and British Columbia ($1,237) with a higher average rate.