Average cost of insurance fpr new driver in ontario
The average cost of insurance for a new driver in Ontario can vary depending on several factors, including the driver's age, location, vehicle type, and coverage limits. However, here are some general estimates:
- According to a report by the Insurance Bureau of Canada, the average annual insurance premium for a new driver in Ontario is around $2,500 to $3,000.
- A study by Kanetix, a Canadian insurance comparison website, found that the average annual insurance premium for a new driver in Ontario is around $2,700.
- Another study by RateHub, a Canadian insurance comparison website, found that the average annual insurance premium for a new driver in Ontario is around $2,900.
It's worth noting that these are just general estimates, and the actual cost of insurance for a new driver in Ontario can vary significantly depending on individual circumstances.
Here are some factors that can affect the cost of insurance for a new driver in Ontario:
- Age: Younger drivers (16-24 years old) tend to pay higher premiums due to their inexperience and higher risk of being involved in an accident.
- Location: Drivers who live in urban areas tend to pay higher premiums than those who live in rural areas.
- Vehicle type: Drivers who own a high-performance or luxury vehicle tend to pay higher premiums than those who own a basic or economy vehicle.
- Coverage limits: Drivers who choose higher coverage limits (e.g. $1 million or more) tend to pay higher premiums than those who choose lower coverage limits (e.g. $500,000 or less).
- Driving record: Drivers who have a clean driving record tend to pay lower premiums than those who have a history of accidents or traffic violations.
To get a more accurate estimate of the cost of insurance for a new driver in Ontario, it's a good idea to shop around and compare quotes from different insurance providers.