You probably know that car insurance is required throughout Canada.
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The Canadian government requires drivers to obtain car insurance because it ensures that everyone can pay the expenses (personal or third party) if they are involved in an accident. But did you know that the average cost of car insurance varies from one province to another?
Reading: How much is insurance in canada
In this article, we will answer several frequently asked questions, such as “How much does car insurance coverage cost in Canada?” and “what is the typical cost of car coverage in my province?”.
how much does car insurance cost in canada?
On average, Canadian drivers pay between $1,300 and $1,800 for auto insurance coverage each year. It’s hard to pin down an exact number because there are several different types of auto insurance options and several factors influence the total price.
Some of these factors include the following:
- vehicle make and model
- driving history
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Getting Average Car Insurance in Canada: What Are the Provincial Cost Differences Drivers Need to Consider?
As mentioned above, the average price of auto insurance varies from province to province. this is because each province has its own unique risk factors and variables. Also, some provinces have government-run auto insurance programs, which can lead to a price increase (due to lack of competition).
the average prices (by province) are:
British Columbia: The average cost of auto insurance in British Columbia is approximately $1,832 per year. British Columbia car insurance is provided by a government-operated group, giving drivers fewer options to choose from.
Ontario: The average cost of auto insurance in Ontario is approximately $1,528 per year. In Ontario, auto insurance is provided by private companies. There is no government-provided auto insurance coverage in Ontario.
Alberta: The average cost of car insurance in Alberta is approximately $1,316 per year. car insurance in alberta is provided by private companies, giving drivers a number of options to choose from.
saskatchewan: The average cost of car insurance in Saskatchewan is about $1,233 per year. Saskatchewan auto insurance is provided by a government group, which means there’s very little wiggle room when it comes to pricing and options.
Newfoundland and Labrador – The average cost of auto insurance in Newfoundland and Labrador is approximately $1,168 per year. drivers in newfoundland and labrador buy coverage from private auto insurance companies.
Manitoba – The average cost of auto insurance in Manitoba is approximately $1,140 per year. In Manitoba, car insurance is provided by a government-operated organization, which means there are only a handful of coverage options and prices.
nova scotia – The average price of auto insurance in Nova Scotia is approximately $891 per year. Drivers in Nova Scotia can compare auto insurance quotes from several reputable private auto insurance providers.
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new brunswick: The average price of auto insurance in new brunswick is about $876 per year. Car insurance is provided by private car insurance companies in New Brunswick, giving drivers a wealth of options.
Prince Edward Island – The average price of car insurance on Prince Edward Island is approximately $861 per year, putting it on par with the other Maritime provinces. On Prince Edward Island, car insurance is offered by private companies.
Quebec: The average price of car insurance in Quebec is approximately $717 per year, making it the cheapest province on the list. In Quebec, car insurance is provided by a government-operated organization, but drivers can also combine this coverage with privately offered insurance.
As you can see, there is a big difference between the provinces at opposite ends of the list. The average price of auto coverage in Quebec is less than half the average cost in British Columbia.
Bonus: Click the link below to find out which cities have the cheapest auto insurance (on average) in Ontario.
tips to save on car insurance in canada
While you may not be able to take advantage of all savings opportunities if you live in a province with government-provided auto insurance, all drivers are encouraged to try the following tips and tricks if they want to reduce their rates:
go to driving school
Going to driving school is a fantastic option for young drivers who want to be proactive about saving on car insurance.
keep a clean driving record
Having a clean driving record incentivizes your auto insurance provider to lower your rates over time. some providers even offer “no accident” discounts to drivers who can go a year or more without having an accident.
remove bells and whistles from your policy
If you have a car of modest value, you may not want to invest in extensive auto insurance coverage. drivers who want to save can forego some specialized add-ons or additional types of coverage. although you won’t be as protected, you will save a significant amount of cash.
raise your deductible
Increasing your deductible is an easy way to save on monthly or annual auto insurance payments. however, if you increase your deductible, be prepared to shell out more money if an accident occurs in the future.
buy a used car
New vehicles generally cost more to insure because they have a higher replacement value. As the name implies, replacement value is the amount of money needed to repair or replace the car. if you buy a used vehicle, the replacement value will be much less. therefore, used cars are ideal for young drivers who do not have much experience on the road.