Brampton car insurance rates decline, but residents still pay more than most Ontarians
Published October 7, 2021 at 9:34 am
Car insurance prices are dropping in Brampton, but it’s still one of the most expensive cities for drivers in the country.
According to a recent report from LowestRates.ca, car insurance rates in Brampton dropped seven per cent in the second quarter of 2021 and 15 per cent year-over-year.
It was the second most significant quarter-over-quarter change among cities in southern Ontario, and it was the most significant year-over-year change.
Prices in many GTA cities have been falling, which has been attributed to fewer collisions being reported, likely due to an overall decrease in the number of drivers on the roads.
However, in December 2020, the average price of car insurance in Brampton was $2,698, the most in Ontario by a wide margin, and according to the city, some residents pay as much as $3,301—more than double the average provincial rate.
Additionally, as vaccination rates continue to increase, and many employees prepare to return to the office, more drivers could be hitting the roads before the end of the year, which would likely see prices start to rise once again.