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Hoping there are some insurance experts here. I am currently paying $125 a month for car insurance living in Courtice. Clean record. I am moving to Toronto sometime in the fall. Looking around the Vic Park area. Any ideas on what it would go up to? Also would there be a big difference in rates from, say, North York to Scarborough?
That is just about impossible to answer, with any degree of certainty. Too many variables, like distance you drive per month, age of the car, replacement costs if it is totalled, body damage repair costs following an accident, your driving record in Ontario, liability coverage amount, rental car provision, and on and on.
In general, the older the car the lower the repair costs, and of course your past driving history is an open book to the insurance company, by paying 10 dollars to the MTO get your entire driving record, since you were first licensed in Ontario. If you are under 30 years of age, you are a "higher risk " than I am at age 68, with a 44 year accident free record, and putting less than 12,000 kilometres a year on my car.
I shake my head at 22 year olds who are driving new mustangs, and paying over a thousand dollars a month for insurance. My entire cost per year is only about 600 dollars, with full coverage. On a four year old compact car.
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