Markham among most expensive cities for car insurance

Markham rounds out the 10 most expensive cities for car insurance in Ontario, according to an insurance comparison service.

In response to an “alarming escalation in auto theft,” My Choice conducted a study using both its internal quote data and Ministry of Transportation data to determine the correlation between carjacking rates and auto insurance premiums across Ontario cities.

The study looked at the carjacking rates across cities with populations or more than 100,000 and compared those to the monthly insurance premiums across the same cities. The top 10 cities with carjacking rates per 1,000 people and the average 2024 premium in brackets are North York (5.42; $2,202) Brampton (5.25; $2,922), Etobicoke (4.96; $2,030), Scarborough (3.84; $2,710), Vaughan (3.69; $2,447), Ajax (3.61; $2,104), Mississauga (3.59; $2,315), Toronto (3.32; $2,139), Richmond Hill (2.61; $2,248) and Markham (2.25; $2,447).

Some 40,510 vehicles of all types were registered as stolen in Ontario between November 2021 and January 2024, according to Ministry data. That averages out to more than 50 thefts a day. For a vehicle to be registered as stolen, it means the owner has given it up: it’s gone for good, rather than taken for a joyride and recovered.

According to a report posted by the Insurance Bureau of Canada, auto thefts cause car insurance premiums to rise by an average of $130 annually for Ontario drivers. “But that’s only part of the story,” the report says. “Ontarians are paying more than $1.6 billion to cover the costs associated with auto theft, from law enforcement and court resources to the mental anguish of being victimized to the general economic costs.”

The auto theft crisis is also creating unsafe communities across the country as many of these thefts are linked to organized crime and the proceeds are used to fund the trafficking of guns and drugs, the report adds. One in four Canadians say either they or someone they know has had their car stolen in the last five years.

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