Mississauga Third Most Expensive City for Car Insurance in Ontario
You already know that auto insurance doesn't come cheap, but did you know you're paying a lot in Mississauga?
According to a recent report released by online car insurance marketplace Kanetix.ca, Mississauga is the third most expensive city in Ontario when it comes to car insurance. For anyone who drives in the city (probably the vast majority of you), the news—though disheartening—probably doesn't come as a surprise.
While there are a lot of variables when it comes to car insurance (your age, driving record, neighbourhood, type of vehicle, etc), you can learn a lot about what you'll be paying by taking a look at your city.
According to Kanetix's InsuraMap, living and driving in the GTA is typically pretty costly. While the provincial average is $1,448 a year, Toronto and its myriad satellite cities pay more than their less central counterparts.
The number one most expensive city is Brampton, where yearly estimated premiums come in at $2,392 a year. Vaughan comes next at $2,018 and Mississauga ranks third at $1,930. Toronto follows Mississauga at $1,886. Other cities in the top 10 include Markham ($1,886), Richmond Hill ($1,783), Hamilton ($1,683), Pickering ($1,556), Ajax ($1,556), Bradford ($1,484) and Stouffville ($1,484).
Mississauga's premiums are 33 per cent higher than the provincial average.
Other larger Ontario towns pay significantly less, including Windsor ($1,375), St. Catharines ($1,317) and Ottawa ($1,142).
Cities that pay the lowest premiums include Petawawa, Pembroke and Brockville. All are estimated to pay about $1,000 a year.
While these estimates apply to all of Mississauga, it's important to remember that certain neighbourhoods actually demand higher premiums and you can look at a neighbourhood specific rundown (also courtesy of Kanetix data) here.
If you're wondering why people in Mississauga might pay more, the answer likely has a lot to do with density.
“Where you live may come with a higher premium because premium depends on location,” says Cathy Iovine, a registered insurance broker with Axion Insurance. “If your area has a high rate of claims or if your area is very highly populated [you might pay more]. Highly populated areas have higher insurance rates because you’re more likely to be involved in an accident if there are more vehicles on the road.”