According to the Insurance Bureau of Canada, the average cost of car insurance in Ontario is $1,505. Using an average of average rates from five communities — Niagara Falls, Niagara-on-the-Lake, Port Colborne, St. Catharines and Welland — our data suggests there’s about a 42% difference.
But Niagara car insurance prices still vary between communities. According to LowestRates.ca data, the auto insurance premiums in Niagara Region for these five communities, starting with the most expensive, are found in:
- Niagara Falls (About 74% more than the Ontario average)
- St. Catharines
- Port Colborne (About 23% less than Niagara Falls)
The size of communities in Ontario varies from Canada’s biggest city, Toronto, to sparsely populated rural areas. As a result, insurance rates vary widely.
Since the size of the community you live in can often impact your premium, it shouldn’t be surprising it costs more in communities that fall within the heavily-populated Golden Horseshoe.
Many Niagara residents commute to Toronto for work and put thousands of kilometres on their cars annually.
More residents and more drivers, equal more potential for collisions. Your rates have to reflect that.
But even higher-than-average rates can still vary due to your personal profile and needs. This includes the type and age of your vehicle, your personal driving history, and how comprehensive the coverage is.
So don’t fret about Niagara Region residents having higher premiums than the Ontario average. Your own Niagara car insurance costs may vary depending on your unique needs and profile.