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Cheap Car Insurance North York
North York is one of the districts that makes up the city of Toronto. Its position as part of Toronto proper means it is home to very high auto insurance rates. Nestled between Etobicoke to the west, Scarborough to the east, and Old Toronto to the south, North York is a densely populated part of the city with 655,913 inhabitants (2011 census).
North York was established as a township in 1922, segmented away from the city of York. It became a part of Metropolitan Toronto in 1954 and was a dynamic neighborhood of growth. Indeed, North York grew faster than most districts thanks to its proximity to Old Toronto. Since then, North York has become established as a borough (1967) and city (1979) in its own right.
Now a part of the new amalgamated city of Toronto, North York has not lost its importance to Canada’s largest metropolitan region. Indeed, outside Downtown Toronto, North York is the city’s secondary economic hub.
North York is also famed for the diversity of its residence, reflecting Toronto’s overall image as a cultural melting pot.
As well as being home to high auto insurance rates, North York also sports the busiest section of freeway in North America. The section of Highway 401 that traverses North York runs over 400,000 vehicles per day. Combined with some of the busiest bus and rail terminals in Canada, North York is a traffic hub.
Auto insurance in North York Ontario
Before even approaching the quoting process, it is easy to deduce that buying auto insurance in North York is expensive. The district is in Toronto, Canada’s most expensive insurance market. Secondly, Toronto is in Ontario, Canada’s most expensive province for insuring a vehicle. That leads to some simple car insurance math … North York is expensive!
Toronto and its surrounding municipalities are so expensive that they contribute hugely to Ontario’s overall auto insurance premium average, which is around $1,400. There are areas in the Greater Toronto Area that have an average premium 65% higher than the provincial average.
North York is in Toronto proper. The city as a whole is the fourth highest auto insurance market in Canada, 30% higher than the Ontario average with a premium price of $1,886. However, if we take North York in isolation, the cost of insurance a vehicle is even more problematic. The city is 48% more expensive on average compared to Ontario, or about 18% more expensive than the Toronto average.
This means drivers in North York pay over $2,000 per year on average to insure their vehicles. With such prohibitive costs, ensuring you get the best auto insurance policy at the most affordable price become essential.
Like the rest of Ontario, there is a set way in which the private insurance industry calculates auto insurance, but some of the most common criteria include:
- Your driving experience
- Your driving record
- Use and location of your vehicle
- The type of vehicle you drive
- The amount of coverage you’ve selected
- Your age and gender
The Ontario government requires insurance companies provide consumers with some basic auto insurance coverage benefits, such as Third-party liability, Accident Benefits Coverage, Uninsured Automobile Coverage, and Direct Compensation/Property Damage Coverage. Each of these mandated benefits can be seen in detail on our full Ontario landing page.
It is easy to question why North York is so expensive for car insurance. There are numerous factors, including insurance companies covering risk, to rife insurance fraud. It is worth remembering that the city is a transport hub, accidents are more likely to occur, especially with the busiest strip of freeway on the continent on the doorstep. Insurance companies must cover against the risk of a higher collision frequency by raising rates.
That’s only part of the problem, however. Auto insurance fraud in Ontario is almost at epidemic levels. Crime rings, especially focused on the Toronto region, are fake-stealing cars to sell in foreign countries and claiming off insurers. Insurance companies are starting to hit back with tougher investigative techniques and more scrutiny over claims, but it is a long process.
Government has also stepped in with pledges to cut auto insurance rates and combat fraud in Ontario. Again, it is a long process that is slowly moving in the right direction. One day, drivers in North York may feel they are paying a reasonable amount for their coverage, but it hasn’t happened yet. Compare
Auto Insurance Quotes in North York
In the meantime, there are things consumers can do to ensure they get the best deal on their auto insurance. One of those things is use our quote engine here at Shop Insurance Canada. Our tool scours the Ontario auto insurance market to find the best policies at the most affordable prices. With premiums so high in North York, the best customers can hope for is to have a good deal.
It is very important to know that the best deal is not always the cheapest offer. Instead, the best deal is the policy that meets your insurance needs and does so at the most affordable price possible. Our quote engine finds those results in less than a minute.
Shopping around has become hugely important. It allows customers to find numerous quotes form major insurers before taking the plunge with a policy. We give you the tool to complete your search in seconds, making shopping around for car insurance a pleasurable experience. 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.
There are certainly other things customers can do to make sure they get the most affordable auto insurance. For example, purchasing the right car is vital. Insurance companies live cars that are known to be safe and secure. Larger vehicles with good security features are often more affordable to insure.