In a city with 2.8 million residents and an estimated 1.1 million cars on the road, it’s no surprise that Toronto has some of the most expensive auto insurance rates in Ontario. Not all neighbourhoods are the same however. In fact, depending on which neighbourhood you live into your annual auto insurance premiums could vary by nearly a thousand dollars!
Kanetix has released data on the least and most expensive auto insurance rates in Ontario. Here’s a summary of their findings for Toronto:
- Casa Loma
- Playter Estates-Danforth
- Mount Pleasent East
- Rosedale-Moore Park
- Church-Younge Corridor
- Bay Street Corridor
- Waterfront Communities / The Island
Most Expensive Neighbourhoods:
- Againcourt North
Why the price difference? It could have to do with difference in how people in different neighbourhoods get around the city. People living in the central core have the best priced auto insurance, most people in these areas primarily use transit, bike or walk to get around. A stark contrast to Toronto’s suburbs where most people drive to get around. Perhaps unsurprisingly the most expensive auto insurance in Toronto is in North Etobicoke and Scarborough.