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ABOUT CAR INSURANCES

 

The insurance cost for newcomers or without driving experience in North America or Canada is very high. This is, perhaps, the first unpleasant factor that you will find in your new country. A new driver in Ontario who has approved the tests to obtain license G-1 and then the road test to obtain G-2, shall be in a position to buy his new car with the respective insurance. In this case, the insurance cost of your first car may be between $350 and $450, depending on the car, brand, model and the place where he lives. The insurance cost also varies from one insurance company to another.

 

Insurance price also varies according to the brand, year, driver’s experience, place where he lives and works, car's number of doors, size of the engine and other factors.

 

 Follow the link Online Auto insurance quotes.

 

NOTE: Car insurance costs in Quebec are very much lower than in Ontario. (Between 50 and 70% lower)

 

 

RECOMMENDATION:

 

You must first ask for an insurance quotation before buying a car. In order to close the deal and register the car, you must have liability insurance.  Newcomers frequently pay an advance to secure a car that they like very much, without having an idea of the insurance cost, when they know the minimum cost that they will have to pay ($300 to $450 monthly in Ontario) they see that they cannot support the car without a good job, so they don’t close the deal and they loose the money they advanced. Remember that you will have to have a G-2 license to buy a car, take the insurance and drive it alone.

 

DIFFERENT COMPANIES - DIFFERENT PRICES

 

Many drivers, specially new immigrants, could pay $100’s, even $1000’s of dollars annually more than necessary for their car insurance. Perhaps many people believe that if they are paying more, they are getting more. But, this is not true

 

All insurance companies sell the exact insurance  policy, word per word. It’s like buy a can of coke at the variety store for $1 or pay $5 for it at a sport event. Same pop, same different price. Same insurance policy, different price.

 

Look the following rate comparation published by the government of Ontario. There are $1000’s of dollars difference between what insurance companies charge for the same policy. Same policy, different prices.

 

Ontario Government  post these charts as warnings. They are telling you that if you don’t shop and compare you are in danger of grossly aver paying.

 

Chart Source: Government of Ontario www.fsco.gov.on.ca

These rates are based on only one profile of a married couple. A 40 years old male driving a Dodge Caravan and a 39 years old female, driving a Dodge Neon. Neither driver has any tickets or accidents. This is only an example to show to the newcomers and immigrants how this business works in Canada.

 

COMPANIES

OTTAWA

TORONTO

LONDON

WINDSOR
AXA Insurance

2714

5528

3616

3896

AXA Pacific

4714

5530

3615

3897

Allstate Insurance

3141

3603

3199

2843

American Home Insurance

2528

3997

3019

3048

Aviva Insurance

2933

4420

3685

4145

Belair Insurance Company

3203

5101

3982

4819

CCA Insurance Company

2295

4472

3002

3489

COSECO Insurance

2395

4304

2648

2572

CUMIS General Insurance

2080

3660

2406

2750

Certas Direct Insurance

2246

3029

2714

2718

Chubb Insurance Company

2812

3365

2385

2901

Co-Operators General

2270

3125

2637

2920

Coachman Insurance

2131

2886

2463

2744

Dominion of Canada

2060

3767

2904

2830

Echellon General Insurance

6078

10639

6774

8265

Echonomical Mutual

1953

2703

2116

2347

Elite Insurance Company

2669

3906

3268

3500

Farmers Mutual Insurance

3244

4728

3376

4258

Federated Insurance

3394

5050

3321

4033

Federation Insurance

1953

2703

2116

2347

Gore Mutual Insurance

2484

4569

2888

3023

Guarantee Company

2638

4308

3352

3172

ING Insurance Company

3005

3839

3453

3299

Kingsway GeneralInsurance

4998

7838

5698

6449

Lloyd’s

3147

5017

3282

3782

Lombard General Insurance

2293

3732

2491

3129

Motors Insurance

2511

3880

3858

3108

Nordic Insurance

2149

3282

2604

3139

Optimun Insurance

2947

5352

3831

3483

Pafco Insurance

3911

6302

4159

4081

Pembridge Insurance

2400

3659

3118

2959

Personal Insurance Co

1391

1808

1657

1634

Perth Insurance Company

3930

5357

4203

4587

Pilot Insurance Company

2917

4648

3684

4123

Portage La Prairie Mutual

2920

4566

2956

3505

Premium Insurance Co.

2511

4317

2883

3209

RBC General Insurance

1813

2687

2332

2173

Royal & Sun Alliance

2140

3628

2818

2908

S&Y Insurance Company

2517

3399

3086

3391

Scottish & York Insurance

2651

3868

3241

3444

Security National Insurance

3312

5119

3454

4485

State Farm Mutual

2427

3775

3104

3327

TD General Insurance

2596

3807

2801

3279

TD Home Auto Insurance

2678

5199

2913

4189

Traders General Insurance

2661

3880

3312

3624

Trafalgar Insurance Co.

2596

3369

2887

3290

Unifund Assurance Co.

1763

3109

2028

2189

Waterloo Insurance Co.

1992

2735

2140

2509

Wawanesa Mutual Co.

2855

4600

3689

3529

Western Assurance Co.

2464

3942

2652

2915

York Fire & Casuality

2559

3983

3058

3029

Zenith Insurance Company

4972

7302

5472

6211

 

 NOTE: Car insurance costs in Quebec are very much lower than in Ontario. (Between 50 and 70% lower)

  

  

IMPORTANT !

    

To read more information about this topic, we recommend to  PURCHASE THE FULL VERSION OF OUR E-BOOK

 

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