Car Insurance Premiums

Most people are looking for low car insurance premiums. The choices you make about the coverage you want contribute to the cost of your car insurance premium.

Auto Insurance Premiums

Companies may look at a variety of factors to determine your car insurance premium including:

What You Buy

  • How many coverages you buy
  • The deductibles

Find out more about types of auto insurance coverage.

What Kind of Car You Drive

If you are buying or selling a car, you will need to re-evaluate your auto insurance needs.

Generally, the more expensive the car, the higher the auto insurance price.

Where You Drive

Generally, due to higher rates of vandalism, theft, and accidents, urban drivers pay a higher auto insurance price than those in small towns or rural areas.

How Much You Drive

People who use their car for business and long-distance commuting normally pay a higher car insurance premium than those who drive less.

Your Age, Gender, and Marital Status

Accident rates are higher for all drivers under age 25, especially young males and single males. Car insurance prices in most provinces reflect these differences.

Your Driving Record

Accidents, regardless of fault, may impact the rate. Drivers in accidents generally must pay higher car insurance premiums than those who are accident-free for several years.

How You Use Your Vehicle

Drivers who only use their vehicles for non-business related activities will generally pay a different insurance price than small business owners who rely on their cars, box trucks, or pickups to get the job done.

What Can I Do to Save Money on My Auto Insurance Premium?

  • If you're shopping for a car, consider how your choice will affect car insurance premiums.
  • Some insurers increase premiums for cars more susceptible to damage or occupant injury, and lower rates for those that fare better than the norm.
  • Ask about auto insurance discounts for insuring more than one vehicle, accident-free driving, and others.
  • Consider joining a car or van pool, or finding other transportation to work. If you reduce your driving mileage enough, you may lower your car insurance price.
  • Drive carefully.

Find out what discounts apply in your province now.

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