Cost of auto insurance jumps 20 per cent in Oakville, 15 per cent in Burlington


Published May 5, 2023 at 10:20 am

Ontario's average estimated auto insurance premium rose 12 per cent in 2023 compared to 2021, according to data from the RATESDOTCA Insuramap, an interactive online map that shows the average insurance rates by postal code. PEXELS PHOTO

Much like the rest of the province, the average auto insurance premium in Halton Region has gone way up in the last two years.

While average premium’s in Ontario rose 12 per cent in 2023 compared to 2021, that jump sounds like a bargain when you look at the price hikes in Oakville and Burlington, according to data from the RATESDOTCA Insuramap, an interactive online map that shows the average rates by postal code.

Oakville, which ranks 19 on the list of most expensive insurance rates by Ontario city, now has an average premium of $1,683. That’s up 20 per cent from 2021 when an average premium cost a driver $1,408.

Cost of auto insurance also took a substantial leap in Burlington. While the city is listed 31 on the list, the cost of an average auto premium jumped 15 per cent from $1,374 in 2021 to $1,586 this year.

Both Georgetown and Acton were also tied with Oakville at 19 on the list for most expensive auto insurance. Average rates in Halton Hills went up 10 per cent from $1,526 to $1,683.

The lowest hike in the Region was in Milton. Ranked 27 on the list, Milton premiums jumped just eight per cent to $1,612 compared to 2021 when a similar auto premium would run a driver $1,498 for the year.

The average estimate premium is currently $1,744, marking the largest increase in the history of the Insuramap survey. That’s up from Dec. 2021 when the province was dealing with COVID restrictions and an average auto premium cost a driver $1,555.

Drivers have returned to their pre-pandemic routines since the lifting of COVID restrictions and operating costs for insurers are climbing due to surging inflation.

Vehicle and parts shortages along with longer wait times for car repairs and a slight rise in vehicle thefts that have resulted in a jump of the number of claims filed have led to rising auto premium costs.

While average auto premiums have jumped significantly in Oakville and Burlington, it’s still a fair bit cheaper than Brampton, which once again tops the list of the most expensive car insurance premiums in the province.

After falling to fourth in last year’s survey, Brampton premiums have jumped a staggering 37 per cent from an estimated average of $1,976 in 2021 to $2,707 this year.

York Region cities dominate the rankings, including Vaughan, last year’s top spot holder. Vaughan fell to the middle of the list at $2,158 annually, although its rate remained mostly stable, declining by only 1 per cent year-over-year.

Toronto ($2,325 per year) and Mississauga ($2,311 per year) displace Ajax and Richmond Hill for the second and third spots.

Most expensive car insurance premiums in Ontario 2023
Rank City Average 2023 estimated premium Average 2021 estimated premium Change (%)
1 Brampton $2,707 $1,976 37%
2 Toronto $2,325 $1,953 19%
3 Mississauga $2,311 $1,971 17%
4 Richmond Hill $2,188 $2,025 8%
5 Vaughan $2,158 $2,179 -1%
6 Pickering $1,985 $1,959 1%
7 Markham $1,870 $1,744 7%
8 Oshawa $1,839 $1,833 0%
9 Hamilton $1,810 $1,564 16%
10 Schomberg, King City, Stouffville, Aurora, Nobleton $1,801 $1,766 (Schomberg, King City, Nobleton), $1,582 (Stouffville, Aurora) 2% (Schomberg, King City, Nobleton), 14% (Stouffville, Aurora)

Rate estimates are based on a 35-year-old driver of a 2019 four-door Honda Civic with a clean driving record.

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