How much does insurance cost in Canada?

Answer 1

It depends on very many aspects, which should be taken into account. Insurance quotes can vary not just by 20%, but by 200% or more.

1. Type of insurance

There are a number of different insurance products available on the Canadian market. Most relevant for this question would be:

• Auto Insurance
• Home Insurance
• Life Insurance

2. ProvinceInsurance cost has strong variation from one province to other. For example driver in Ontario pay the highest premiums (avg. $179/month) for auto insurance, while in Quebec the lowest ones (avg. $75/month). 3. Asset Value

Logically you would pay higher insurance premiums for expensive car or home. If someone has health issues, it will obviously drive the life insurance cost up.

These inputs are just the basic ones. You need to enter more than 30 parameters to get exact quote from one of the Canadian insurance quoting platforms. Kanetix and InsuranceHotline are the most popular in Canada.

Alternatively you can use Insurance Price Comparison from InsurEye Inc. This online service uses aggregated social knowledge and shows users how their insurance spending compares to their peers.