Shopping for a better rate on car insurance in Markham? Car insurance rates in the city of Markham are some of the highest in the province. Drivers regularly pay more than the provincial average, and rates continue to climb. You live in a region known for higher than normal auto insurance premiums. But we can help change this.
With ThinkInsure, you can quickly compare quotes for car insurance in Markham to find a better rate. We are partners with the leading insurance companies in Canada which means we can help you save. Let us shop and compare the best rates for auto insurance in Markham. Get started online or give us a call and speak with one of our insurance advisors for a quote. You don't need to overpay for your auto insurance.
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2023-09-21
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All drivers in Markham must have the same minimum amount of car insurance coverage as the rest of the province. You can get this from any insurance company. This includes:
This is the basic amount of insurance you can have. Most drivers have more.
You also have the choice to increase liability limits and add other optional coverage such as:
Additionally, you can add policy endorsements to enhance and alter your policy. Keep in mind that more protection will increase your rate.
Learn more about how insurance works on our Ontario car insurance page.
There are steps you can take to get a lower rate. Here are some tips to get cheap car insurance in Markham :
Drivers in Markham pay higher than average car insurance rates. You can expect to pay approximately $2,100 annually for car insurance in the Markham area. Many drivers pay more than this if they have a ticket or accident on their driving record.
Costs are similar to Toronto car insurance rates and with other cities in the GTA.
2020 data from the Insurance Bureau of Canada
Have you seen your insurance costs increase in 2023? Insurance rates are in a constant state of flux, changing frequently based on insurers' assessment of data related to claims, repair costs, accidents, and various other factors. Your driving record and potential eligibility for supplementary discounts also play a role in these rate adjustments. Below you can see the changes in premiums by year in Markham:
| Year | Average annual premium |
|---|---|
| 2023 | $2,528 |
| 2022 | $1,785 |
| 2021 | $2,159 |
| 2020 | $2,523 |
| 2019 | $2,344 |
| Average rate (2019-23) | $2,268 |
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Your auto insurance premiums are affected by your driver classification. Factors like age, demographics, licence, and driving record are taken into consideration by insurers to calculate your payments. To understand the impact of these factors on your premiums, we analyzed our Markham customer quote data. Here are our findings:
| Premium | Monthly | Difference | |
|---|---|---|---|
| Driver type | |||
| All drivers | $2,371 | $198 | 0 |
| Young drivers (25 and under) | $2,901 | $242 | 22.35% |
| Middle age (25 - 50) | $2,459 | $205 | 3.71% |
| Mature/senior drivers (50+) | $1,760 | $147 | -25.77% |
| High risk drivers | $7,013 | $584 | 195.78% |
| Demographics | |||
| Male | $2,354 | $196 | -0.72% |
| Female | $2,415 | $201 | 1.86% |
| Married | $2,186 | $182 | -7.80% |
| Single | $2,575 | $215 | 8.60% |
| Driving record | |||
| Clean driving record | $2,371 | $198 | 0 |
| 1 ticket with past 3 years | $2,488 | $207 | 4.93% |
| 1 accident in 3 years | $3,279 | $273 | 38.30% |
| 1 cancellation in 3 years | $3,427 | $286 | 44.54% |
| 1 suspension in 3 years | $3,425 | $285 | 44.45% |
*****
Markham is the most expensive city for car insurance in the region. Here’s a comparison:
| City | Avg premium |
|---|---|
| Markham | $2,453 |
| Richmond Hill | $2,387 |
| Toronto | $2,268 |
| Ajax | $2,217 |
| Oshawa | $2,090 |
| Pickering | $2,018 |
| Newmarket | $1,757 |
| Uxbridge | $1,587 |
****
Where you reside within a city can affect the amount you pay for insurance. In Markham, postal codes could result in differences of several hundred dollars per year. So, if you have intentions of moving, this is an important factor to take into consideration. Take a look at how the different postal codes affect your premiums:
| Area in City of Markham | Postal Codes | Avg Premium |
|---|---|---|
| Box Grove, Vinegar Hill | L3S | $2,595 |
| Downtown Markham across to Highway 7 and 8 | L6C | $1,734 |
| Central Markham | L3P | $2,113 |
| Southwest Markham | L3R | $2,491 |
| Southeast Markham | L3S | $2,595 |
| East Markham | L6B | $2,255 |
| Northwest Markham | L6C | $1,734 |
| Northeast Markham | L6E | $2,945 |
| Locust Hill | L0H | $1,246 |
| Thornhill | L3T | $2,260 |
| Unionville | L6G | $1,492 |
***
There are dozens of car brands to choose from. The one you select will have a direct impact on your insurance premiums. Below we outline the premiums based on car brand based on Markham customer data:
| Vehicle brand | Premium | Monthly payment |
|---|---|---|
| Honda | $2,694 | $225 |
| Toyota | $2,153 | $179 |
| Hyundai | $2,361 | $197 |
| Chevrolet | $2,607 | $217 |
| RAM | $1,400 | $117 |
| Dodge | $1,400 | $117 |
| Subaru | $1,965 | $164 |
| Mazda | $2,380 | $198 |
| Nissan | $1,907 | $159 |
| Volkswagen | $2,900 | $242 |
| Mercedes | $1,689 | $141 |
| Tesla | $3,394 | $283 |
| Audi | $1,463 | $122 |
| Lexus | $2,267 | $189 |
***
Getting a car insurance quote in Markham with ThinkInsure is simple. You can get a quote online through our website. Simply enter your information to see multiple car insurance quotes. We’ll help you find the best insurance company to serve your needs. You assess your options and choose the lowest rate and save money. Or if you prefer, give us a call to get a quote over the phone.
There are many reasons why car insurance can be expensive in Markham. More traffic volume, more accidents, higher instances of theft and fraud and proximity to major highways are all factored in by insurers when assessing risk and determining rates.
You bet! We can help you get coverage for all types of vehicles (cars, trucks, SUVs, sports cars) and can get you auto insurance for all your driving needs in Markham. Whether you are a new driver, a senior, drive a classic car, or need high-risk auto insurance, we can help you get insured and save.
Yes. We work with the top car insurance companies in Markham. From Aviva to CAA, Intact, Wawanesa, Travelers, and more, we can help you get coverage from industry-leading providers. Comparing policy options from our large selection of providers allows you to get personalized coverage for the lowest price.
Looking for a cheaper rate on car insurance in Markham? See quotes from Canada's top providers in just a couple of minutes.
Get startedDriving safe and staying crash free is even more important in Markham considering how expensive car insurance is in the region. The city experiences the same congestion, road construction, and delays as other areas in the GTA. Keeping your focus on the road and shopping the market for auto insurance is paramount to getting lower premiums in Markham.
Here is some important information about driving in the city and the surrounding area:
With a population of over 360,000, Markham is the largest of nine municipalities in the York Region. It is the seventh-largest municipality in Ontario. It covers 211.5 hectares and is bounded by Steeles Avenue to the south. The northern boundary includes Highway 7 from Yonge Street east to Highway 404 as well as a line between 19th Avenue and Stouffville Road running west to Highway 404. The eastern boundary is the York-Durham line.
Here are some interesting facts about the region that can influence your car insurance costs and needs:
How you drive can have a big impact on how much you pay for your auto insurance. We’ve put together a list of tips to help you drive safely in and around Markham:
Sources
* Based on the difference between the average lowest premium and the overall average premium in Markham for estimates completed from January 1 to March 31, 2023, for drivers with a clean driving record.
** Estimated prices are based on data entered by drivers with a clean driving record living in Markham on ThinkInsure.ca.
*** Estimated premiums are based on data entered by individuals on ThinkInsure.ca from 2019-2022.
**** Estimated premiums are based on data entered by people on ThinkInsure.ca from January 1, 2021, to October 1, 2022.
***** Data from online quotes completed from April 2019 to April 2023.
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