Insurance costs for your MINI are influenced by a multitude of factors and car brands are one of them.
Canadian car insurance companies actually catalogue claims costs by car make and model. The Canadian Loss Experience Automobile Rating (CLEAR) functions as a central repository for this data. Unfortunately, this information isn’t publicly accessible for the most part, though the Insurance Bureau of Canada compiles a redacted version of the database that you can use to see how your MINI stacks up against other cars in terms of claims costs (lower claims costs = a lower car insurance premium).
A lot of other factors that influence your insurance costs are out of your control, unfortunately. This includes the province or territory you call home makes a difference. Only Alberta, the Atlantic provinces, Ontario, Quebec and the Territories have private insurance markets. The provincial government is the insurance provider in all other provinces. Insurance costs in provinces with privatized insurance tends to cost more than in provinces with public insurance.
MINI drivers in big cities may find themselves paying higher premiums than those in smaller towns or rural communities. There can be variations in MINI insurance quotes between jurisdictions that you may not be aware of. For example, a resident of Toronto will pay more for car insurance than someone who lives in a smaller city like Peterborough, which is 140 km northeast of the province’s capital.
But there are things you can control. Your driving history matters a lot. Racking up speeding tickets and traffic violations will increase the cost of your MINI insurance, so avoid these at all costs. Having made claims on your drivers insurance in the past impacts your rate as well. For added security, you can purchase a claims protection endorsement, which is like a get out of jail card for your first claim.
MINI vehicle insurance quotes can also vary depending on how long you’ve had your licence. MINI insurance for young drivers can cost more than it does for experienced, older drivers. The costs are compounded by the fact that some insurers will view MINI as a luxury brand. If you’re a cost-conscious parent, be forewarned — a MINI is not the ideal starter car for a teenager.
Because of these and other factors, using average MINI insurance costs may not give you the accurate information you need. You’re better off applying for custom quotes online to get the true cost of insuring your MINI.
Check out real MINI car insurance rates offered to recent LowestRates.ca visitors.