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How our index works

 
  • Trend line
    The trend line

    We set a baseline of 100 in Q2 2017. The average price in that quarter will be considered the benchmark to measure future increases or decreases.

  • Database
    Consumer database

    Thousands of Canadians get a quote on LowestRates.ca. We use that data to track how much the average driver is paying for their car insurance.

  • Provincial breakdown
    Provincial breakdown

    We collect data in multiple provinces so you can compare pricing trends in your own province to what Canadians are paying across the country.

What factors affect auto insurance prices?

 

Insurers base their pricing on how much of a potential risk someone is to insure. To figure that out, insurance companies will look at a variety of data. These include someone’s age, sex, marital status, where they live and their driving history. The type of car you drive will also affect your rate — a more expensive car will be more expensive to repair, for example, and so an insurer will price their premium accordingly.

Why are prices in every province and territory so different?

 

Some provinces in Canada have public auto insurance, while others have a private system. This makes pricing different in each of Canada’s 10 provinces and three territories. British Columbia, which has the highest average auto insurance premium in the country, has a public system. But following close behind is Ontario, which has a private system. Insurers will base their pricing on the cost of claims in a given quarter: if the amount they pay out rises, so will your auto insurance.

Why doesn’t the Auto Insurance Price Index include my province or territory?

 

LowestRates.ca launched coverage in Quebec and Atlantic Canada in October 2017, meaning that there wasn’t enough data to include those provinces in the initial launch of the index. However, as the number of Canadians in those provinces receiving quotes grows, so too will our database. Those provinces will be added in future editions of the LowestRates.ca Auto Insurance Price Index.

Comparing auto insurance quotes saves you money

The LowestRates.ca quoter lets you compare auto insurance prices from leading insurers in Canada. The best part? It takes just three minutes to get your quotes.