Auto Insurance Toronto

Toronto, the capitol of Ontario is known for it’s diverse population, nightlife and of course, the CN Tower. Toronto residents love the city and are proud to live there.

Auto Insurance in Toronto, Ontario

Downtown Toronto is a driver’s paradise, said no one ever. With so many condo buildings and businesses in the area, the city had to stop cars from entering King St so that transit can get by. 

My advice as a Toronto Insurance Broker; if you live and work in the downtown core and do not need to buy a car, save your money and just use transit. The actual cost of the car (finance/lease), auto insurance, parking and gas can take a huge chunk out of anyone’s monthly paycheck. 

I Need a Car…How Much will Toronto Auto Insurance Cost? 

Living in any major city’s downtown core is never cheap. From high rent to expensive groceries, auto insurance is no exception. According to a survey done by Kanetix, the most expensive postal code in the City of Toronto is M6H. The average in that area is $2325 per year. Keep in mind that this is based on that entire area. If you have accidents, tickets of insurance cancellations on your record, it can be much higher. 

How Can you Keep Your Toronto Auto Insurance Rates Low? 

Here are a few tips that will keep your rates as low as possible. Remember, there are always factors out of your control such as how all your neighbors drive which impact that areas claims ratio. These tips are ones which you are in control of.

1. In 2019, one of the biggest changes we have seen are regarding cancellations for non-payment. If an insurance company cancels your auto insurance policy because there were billing issues, you can expect your next policy to be much more expensive. Many companies now do not accept clients who have had a non-pay cancellation. 

2. The obvious tip is to stay away from tickets and accidents. We are noticing the insurance companies penalizing clients who have at-fault accidents a lot more now than before. You will be rated for accidents for 6 years while tickets for 3. Drive defensively and don’t get tickets! 

3. Bundling up! Yes, Winters in Canada are very cold and bundling up makes sense there too! But when it comes to auto insurance, if you can move your current property insurance policy to the same company, you can qualify for up to 20% off! 

4. The final tip can have one of the biggest impacts and that is to shop around. With so many auto insurance companies offering insurance in Ontario all at different rates, the only way to get the lowest price for your postal code is by shopping around! Make sure when shopping around you select the same coverage and endorsements so that you are comparing correctly and are not missing any information. 

Getting The Best Auto Insurance Rate in Toronto

This is where an insurance broker’s expertise and connections can help! Filip Ambroziak only deals with Ontario’s largest and most reputable auto insurance companies and can find the best rate and coverage for you. Once you are in the quoting system, quoting renewals takes seconds! 

Call (416) 803-2113 or email filipa@pbnet.ca for a quote today!

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