New report shows Mississauga has fifth highest auto insurance rates in Ontario

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Mississauga has the fifth highest auto insurance rates in Ontario while neighbouring Brampton comes out on top with the province's highest numbers.

A report by LowestRates.ca confirms that Mississauga is one of the most expensive places in the province for auto insurance. Rates are 50 per cent above Ontario's average price.

LowestRates.ca is a Toronto-based rate comparison website for auto and home insurance, as well as credit cards, loans, and mortgage rates. To determine the ranking of Ontario's most expensive cities, LowestRates.ca referred to data from its auto insurance quoter in September 2020.

The full list of most expensive Ontario cities for auto insurance is as follows:

  • Brampton (123.5% more expensive than Ontario's average)
  • Scarborough (83.6% more expensive than Ontario's average)
  • North York (77.8% more expensive than Ontario's average)
  • Etobicoke (67.7% more expensive than Ontario's average)
  • Mississauga (50% more expensive than Ontario's average)
  • East York (48.1% more expensive than Ontario's average)
  • Markham (40.8% more expensive than Ontario's average)
  • Toronto (36.7% more expensive than Ontario's average)
  • Hamilton (36.2% more expensive than Ontario's average)
  • Richmond Hill (35.8% more expensive than Ontario's average)
  • Windsor (31.5% more expensive than Ontario's average)
  • Ajax (26.7% more expensive than Ontario's average)
  • Pickering (25.2% more expensive than Ontario's average)
  • Barrie (20.7% more expensive than Ontario's average)
  • Oshawa (20.2% more expensive than Ontario's average)

A "good chunk" of Ontario's most expensive cities for auto insurance are the suburbs of Toronto, LowestRates.ca found.

"Drivers in suburbs need a vehicle to get pretty much anywhere, and they drive on bigger highways and more congested roads, each of which would contribute to higher premiums since there's more risk associated," the insurance comparison service said in a blog post.

The report also found that many of the cities have a significant percentage of drivers with fewer than three years of driving experience. These types of drivers are likely to be classified as "new drivers" by insurers, and their lack of insurance and driving history means they are usually charged more for insurance.

 

 

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