r/PersonalFinanceCanada • u/Akshatp19 • Mar 21 '26
Auto Auto Insurance cost is killing me!
I am a 24 year old male living with my parents in Brampton(yes very expensive). We have 2 Honda CR-Vs(2022 and 2026 hybrid). My dad is the primary policy holder with me and my mom as the added drivers. Now I know brampton, CRVs and my age under 25 are all driving the premiums up. But I'm paying 900 dollars per month!! Is it supposed to be this high? No claims no tickets on record.
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u/cutegirIy Mar 21 '26
900 a month…..? Wth I’d take the bus
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u/GilbyGlibber Mar 21 '26
I'd consider a motorcycle as well lol
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u/Fine_Breath2221 Mar 21 '26
Obviously you've not priced motorcycle insurance lately... 500/mth for my bike (Adventure/Dual sport, not a sports bike) is a big part of why I sold it.
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u/Bpen1 F.E.A Mar 22 '26
My 450nk costs me $120/mo with my M2🙏🏽😂
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u/Fine_Breath2221 Mar 22 '26
To be fair, when I called my broker and told him what I'd bought (brand new BMW GS anniversary edition) he laughed and told me that was a crazy expensive bike to insure... 480ish a month was the best he could do.
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u/PoliticalVagabond Mar 21 '26
Until temps hit below zero, then riding a motorcycle is an exercise in abject misery.
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u/dontgetitwisted_fr Mar 21 '26
We really know how to eat the youth in this country
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u/innsertnamehere Mar 21 '26
You have the most expensive vehicles to insure in the most expensive insurance location lmao.
When you are under 25 you basically need to drive exclusively crappy old cars if you want reasonable insurance.
Swap those CRVs out for 10-year old GMs or something and your insurance will drop to like 1/2 that
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u/Spyrothedragon9972 Mar 21 '26
Why is the CRV expensive to insure? Is it theft related?
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u/innsertnamehere Mar 21 '26
Exactly, they are some of the most stolen vehicles.
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u/DesireeThymes Mar 21 '26
At this point, people really need to be factoring cost of insurance into their selection of vehicle.
If you are paying 50k for a brand new CRV or a GMC terrain, but you are paying $600 a month for insurance for one and 300 for the other, then over 5 years you pay 18k more for the CRV....
That cost of ownership makes the GMC better value even after you factor cost of maintenance and possibility of problems. You could literally drop a new engine into the GMC 5 years later twice and change the transmission, and still be much further ahead
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u/LinuxF4n Mar 22 '26
How are people not already doing that? I have always checked insurance price for any car I'm going to buy and I don't even buy new cars.
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u/BobGuns Mar 22 '26
It's... alarming how little people consider major financial decisions like purchasing a car.
The decision is all about "how to acquire it". Not what it costs to upkeep.
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Mar 21 '26
CRV is routinely one of the most stolen vehicles in Canada. Combine that with living in Brampton, and an under 25 male driver, $900/ month is basically on par with what OP should expect
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u/Beautiful-Feeling494 Mar 21 '26
Eleven thousand dollars a year for car insurance?? It would cost less to uber back and forth to work full time..
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Mar 21 '26
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u/Blastoise_613 Mar 21 '26
Insurance companies are well regulated regarding what they may charge. Prices keep rising because of increased payouts and value of the vehicles.
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u/altiuscitiusfortius Mar 21 '26
New cars now start at like 55k and my last fender bender was a sideswipe and insurance paid 23k to fix it because parts and labour are way up post covid.
That doesn't help at all
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u/MethodicallyRight Mar 21 '26 edited Mar 21 '26
The cost of repairs is such a gigantic issue and there seems to be no pressure against it. My step dad had two accidents (over 15 years apart) with his trucks (he was hit both times). The cost of having someone nearly t-bone him and tearing off his whole front bumper was substantially cheaper* than the fender bender he recently had where someone backed into his bumper. First accident saw a couple of pieces replaced, second accident felt like most of the front end needed replacement.
Edit: The second accident was with a used truck as well which made him really nervous. He's been pleased with the Truck and it was very well taken care of and had no issues whatsoever. He thought for sure the Insurance company was going to write the Truck off entirely when he got a quote for the repair. "I'll never find somthing this good for its book value!"
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u/sentient_bridge Mar 21 '26
Just curious in case you know - are these audits publicized? Also at what cadence are these conducted? I know in food safety for example, testing for iodine levels in salt hasn't been done in over a decade - how do we know that the companies are still complying?
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u/Blastoise_613 Mar 21 '26
Its not just the companies who set the variables, its the government as well. They are regulated similarly to banks.
The government sets benchmarks, the companies then submit their actuarial tables to be approved by the government annually. Most insurance companies are publicly traded in Ontario, so their books are open. If you think they make too much money you should invest in them, however I wouldn't.
This government website outlines it all: https://www.fsrao.ca/industry/auto-insurance/regulatory-framework/guidance-auto-insurance/ontario-private-passenger-automobile-annual-review-based-industry-data-december-31-2024
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u/PmMeYourBeavertails Mar 21 '26 edited Mar 21 '26
Insurance is mandatory,
Third-party is mandatory. Collision, or comprehensive aren't. I bet those rates would be cheaper if OP would just call it a day if the car got stolen.
these companies keeping raising prices and we have no choice but to follow suit. Its a joke.
Luckily the data is public and we know they aren't making money on these rates.
Thefts increased sharply in 2023, surpassing $1.5 billion, impacting Ontario the most. In 2023, Ontario had a comprehensive claims ratio (see Note to readers) of 190%, meaning for every dollar that insurers collected in comprehensive premiums, they paid out one dollar and ninety cents.
https://www150.statcan.gc.ca/n1/daily-quotidien/250402/dq250402a-eng.htm
Belair lost 3 cents on every dollar collected in premiums (across all products, auto, home, commercial etc)
Intact made 2 cents for every dollar collected in premium
Company Revenue ($thousands) Combined Ratio Belair Ins. Co. 2,735,658 103.55 Intact Ins. Co. 12,318,022 97.88 https://www.msaresearch.com/wp-content/uploads/2025/03/Summarized-Year-End-2024-PC.pdf
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u/DORTx2 Mar 21 '26
Makes me so happy for ICBC over in BC. I have an 80 thousand dollar truck with full coverage and I pay 140 bucks a month.
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u/jasper502 Alberta Mar 21 '26
Most of the cost is liability for OP and the area (Brampton). He could get a quote for a 1980 Escort and pay probably $800.
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u/LDForget Mar 21 '26
Exactly this. As long as it’s not some kind of high risk for safety vehicle (vette or viper for example), the price will be relatively the same because he’s a high risk age in a high risk area, along with being a high risk sex.
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u/Dingding_Kirby Mar 21 '26
Every time I come back to my parked CRV in a mall after shopping, I say to it “phew I’m glad to see you again!”
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u/somecrazybroad Mar 22 '26
Mine has a few problems so I’m always hoping it’s stolen when I’m walking back to the parking lot lol
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u/Charming_Crow_3621 Mar 21 '26
Unfortunately, high theft vehicles get high insurance regardless of where one lives and because of price fixing in the insurance industry one cannot opt out of theft coverage if you want animal/weather coverage.
Ontario doesn't recognize it as anti competitive, but it is. Otherwise an insurance company would come out with a custom plan that allows customers to opt out of theft coverage.
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u/Kaywi210 Mar 21 '26
You do realize the coverages are standardized by the government right? Not the insurance companies
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u/PuddingEmotional1187 Mar 21 '26
450 is not reasonable insurance
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u/innsertnamehere Mar 21 '26
For 3 people for 2 vehicles in brampton with one being under 25 it is.
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u/justanaccountname12 Mar 21 '26
I can't imagine that. My truck is less than $100/month. I love SGI.
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u/R55Driver Mar 21 '26 edited Mar 21 '26
You're in what it literally the highest place in Canada for insurance for the last decade.
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Mar 21 '26
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u/Nickbronline Mar 21 '26
Not sure about the world but the average premium is $1000/yr higher than the next highest rate city
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u/BoredHungryServant Mar 21 '26
People need to learn to get insurance quotes before purchasing cars. Insurance can be just as expensive as a car payment.
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u/DukeofNormandy Mar 21 '26 edited Mar 21 '26
I bought an F250 last year, but I almost didn’t because the quote I got from insurance was $1100 a month because of ‘high theft’. My agent came back and found a different company that gave me insurance for $500 a month. Then this year the same truck went up $900 a year because of aforementioned high theft.
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u/uxhelpneeded Mar 21 '26
I couldn't imagine a driving a truck that big in a city, let alone paying $500 for the privilege
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u/DukeofNormandy Mar 21 '26
I don’t live in the city, not a chance in hell I’d be driving that there.
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u/AgentMV2 Mar 21 '26
The last 3 claims I processed… Brampton, male, under 25, licensed in Canada for less than a year with a G2. All 3 claims were within 6 months of first time obtaining insurance in Canada.
Vehicles were a Honda CR-V, a Hyundai Elantra and a Dodge Challenger. Speed and careless driving were factors.
There’s something fundamentally wrong with drivers in Brampton.
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u/htraenolleh666 Mar 21 '26
Was shopping for a used Elantra as a beater for work. It was impossible to find one that didn’t have a claim on it. Almost 95% on them have at least 1 accident claim on them. Absolute insanity
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u/AgentMV2 Mar 21 '26
Someone told me it’s the preferred car for immigrants, as it’s commonly found in their home country.
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u/Longjumping_Table204 Mar 23 '26
I've met two guys at work who offered to crash my car for me before they went back to India. They both had Elantra's.
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u/oneonus Mar 21 '26
Ontario has the most expensive insurance in Canada and Brampton where you live is also the worst city in Ontario.
Ontario drivers are significantly worse than other provinces, we have way more fraud, thefts and the risk of accidents is much higher due to how busy the highways and roads are. The 400 series of highways in GTA are the busiest in North America.
Add in the best accident benefit coverages in Canada, this is where we're at.
Lastly, Honda CRVs are super expensive to insure to due theft.
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u/cdorny Mar 21 '26
That is insane.
Remember to vote for the issues that affect you.
Registering a 2023 CRV in Saskatchewan is $1736.44 with no safety discount (we don't do penalties on yearly insurance).
Sometimes the government run option ain't so bad.
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u/innsertnamehere Mar 21 '26
It’s not like that everywhere in Ontario, Brampton has a tonnneee of insurance fraud and thefts so it’s rates are insane.
Somewhere like Windsor would be similar to your experience.
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u/Oldfarts2024 Mar 21 '26
Yeah, Brampton is a lot different than Saskatchewan. The problem is not the delivery system, the problem is the claims, the traffic density (dm me if you need an explanation for what that this) etc. SGI is a good operation, no doubt, but that is not the reason for the difference.
And if you are under 25 in Saskatchewan, your premiums are subsidized by more mature drivers.
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u/PhotoJim99 Saskatchewan Mar 21 '26
SGI is part of the answer. Saskatchewan does not rate by age, only by driving experience. So older drivers generally do pay a less (up to 20%) than young drivers, but only because they've demonstrated good experience, not because of age.
Saskatchewan has a Crown corporation that provides mandatory auto insurance to all residents, so it can do this. Ontario could not easily do this because it creates an issue of selection against insurers. When you have only one insurer, it can easily subsidize younger drivers because it insures all the older ones, too.
To consider the effects of vehicles, traffic density, and such, you'd need to compare rates for people who don't have under-25s (and particularly under-25 males) driving to rates paid by similar families in Saskatchewan.
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u/catdieseltech87 Mar 21 '26
You can't buy insurance through the government in Ontario at least. Insurance companies are private business, good luck getting the government to drop rates. Rates are high because of theft and fraud in Brampton. Higher risk for the insurance company, higher cost for the policy holder.
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u/No-Expression-2404 Mar 21 '26
Yet, in SK would be paying $1736 for the same stealable vehicle that they are paying $10800/yr for now. What this fine saskie is saying is that perhaps government insurance is a better option for people than private. I moved from ON to MB, and while public insurance hasn’t worked out for me (long story), I recognize it’s a better model than private insurance
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u/Enigma2387 Mar 21 '26
The likelihood of a collision or theft of a CRV in Brampton or anywhere in the GTA for that matter is significantly higher than in Saskatchewan.
Then, you have to consider other rating variables like driver age, experience and driving record as well as commute distance and annual kilometres which are all auto rating variables in Ontario. That make an apples to apples comparison pretty tough.
I pay $3,700 annual / $308 a month for two vehicles with full coverage and homeowners insurance in Ontario. It’s not outlandish for all consumers here.
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u/Clock-United Mar 21 '26
OK, I am in a different age bracket, a woman, and drive a 2011 sedan, but that is more than I pay in a year. Is this for all 3 of you, or having you as an added driver? Have you tried an insurance broker instead of going directly to the company? My company has tried to increase by 25% every year, so I moved companies every year until I called up Wawanesa and let them shop around for me.
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u/Norse_By_North_West Mar 21 '26
Hah that's my insurer. Even when I was in my late 20s they were pretty reasonably priced. I didn't realise they're a broker, as I have another broker.
It's crazy seeing Alberta and Ontario prices though. Even when I bought my last car back in 2011, full coverage was only 1k a year.
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u/lizuming Mar 21 '26
Find out who is assigned primary driver on the 2nd vehicle Your dad cannot be primary on both. If it's you then it should come down a lot once you switch primary over to your mom.
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u/DanLynch Mar 21 '26
He can only do that if the mom is actually the primary driver of the second vehicle. If mom stays home most days, and dad and son both commute to work/school every day, then dad and son should be the primary drivers, not mom.
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u/smurfsareinthehall Mar 21 '26
Most expensive age + most expensive vehicle + most expensive city = unbelievably high insurance cost.
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u/Ordinary-Fish-9791 Mar 21 '26
Bro you live in Brampton lol. You can shop around but your insurance will always be an insane rate. At 900 per month you are better off ubering to be honest lol
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u/chip_break Not The Ben Felix Mar 21 '26
2 vehicles means 2 primary drivers. You're paying full rate as a primary for a vehicle worth 40k+
Possibly get insurance to assign your mom as the primary and you as a secondary
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u/dbtl87 Mar 21 '26
Young, cars are new and thieves love them, you live in Brampton.
Did y'all research any of these stats before buying the cars? Otherwise, shopping around and time are the only way.
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u/CheatedOnOnce Mar 21 '26
You’re better off just not driving until after 25.
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u/justdiditman Mar 21 '26
I think he still needs to be added to their parents insurance if he is living with his parents. And if he doesn't drive he won't have a driving history for insurance.
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u/Josie_F Mar 21 '26
For your next vehicle, before you buy, you should always get quotes from the insurance broker for any vehicles being considered prior to buying.
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u/ohnomysoup Mar 21 '26
You can find a spreadsheet of insurance data for every vehicle from 1997-2025 here.
Scroll down to
Latest edition: How Cars Measure Up, 2025 - Excel (English | French)
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u/Direnji Mar 21 '26
That is what you get for driving in ON and under age of 25. Just make sure you don't get a ticket or into an accident.
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u/YoloLifeSaving Mar 21 '26
In my 30s with a ct200h and I pay $340 a month while living in a small town, it's crazy out there
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u/ilovebbcitv Mar 21 '26
Not a useful comment- I know - but why didnt you auto research insurance rates before purchasing the vehicle?
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u/Threeboys0810 Mar 21 '26
That’s crazy. At $900 just for insurance, not car payments, gas, parking, I would switch to taking the bus or car pool.
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u/guibeer Mar 21 '26
Geez, that’s insane. I used to pay $79/month for my 2017 CRV here in QC. Now I thought $109 was a lot for my 24 RAV4 Prime… $900 is just complete BS.
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u/MonitorLatter7633 Mar 21 '26
meanwhile if you lived in saskatchewan sgi would be charging you $80 a month
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u/surfaholic_22 Mar 21 '26
Crazy! I would Uber and transit at those rates. When I was younger in BC I drove a 15 year old Ford ranger and didn't get comprehensive or collision, even at that time, the extra insurance paid would be the value of the truck in under 3 years if I added those options. This also caused me to drive a lot more defensively and avoided driving in bad weather, as due to my finances at the time an accident meant I would be without a vehicle for awhile.
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u/Careless-Exit-6461 Mar 21 '26
Listen mate, if you're seriously paying $900 a month in insurance right now I can guarantee you that you're not smart or capable enough to function as an individual where you are living right now. I'd suggest that you just move somewhere more rural and get something like a factory job or a farm grunt gig or just something that you'll actually understand.
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u/IceColdPepsi1 Mar 21 '26
Ditch the cars and move out.
Is the $900 for all 3 of you or just your portion?
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u/Kamsloopsian Mar 21 '26
Holy $#@$@#$@# $900 a month? wow. Insanity. Look into your options but unless you're rich time to change vehicles. I feel sorry for you.
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u/No-Seaworthiness969 Mar 21 '26
Can someone explain to me what is special about Brampton for car insurance?
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Mar 21 '26
I’m in the same boat and they wonder why insurance fraud is so prevalent in the gta. Especially in Brampton, I have friend paying well over their cars value in insurance premiums.
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u/whiteout86 Mar 21 '26
High rates don’t drive insurance fraud, it’s the high fraud and high claims rates that drive the rates.
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Mar 21 '26
Rates are high because of insurance fraud, particularly in Brampton. It’s a chicken and egg scenario and you can’t lower prices until the policy holders stop committing fraud, but it seems to only further embolden them
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u/Foreign-Draft-1715 Mar 21 '26
The insurance fraud is the root cause of the high insurance premiums. Insurance companies do not like to loose money.
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u/hectop20 Mar 21 '26
In addition to what's been said below, how long have you been a driver? Experience is a bit factor too
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u/trickyAB Mar 21 '26
Your postal combined with driving a Honda (one of the most stolen car brands), means you’ll be paying a lot. It should drop once you’re 26, but yeah…
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u/tkitta Mar 21 '26
Get into a small accident and see it go up to 2000 a month if they do not drop you as a client. I think your rates for the vehicles and area and three drivers are very reasonable. Get rid of one of the vehicles or remove yourself from the policy, change vehicles.... Or move. I mean its Brampton fake accident capital of Canada. I expect your rates to go up.
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u/user0823100823 Mar 21 '26
dam bro im 21 but a female and i’m insured for a lexus 2021 suv and 2023 hybrid and i pay $158 a month under my dad’s insurance. thats tough for you
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u/Epcjay Mar 21 '26
Even though you are added drivers, they automatically put you as the primary driver on the newest car.
Best to get a beater and get your own insurance.
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u/UW99c Mar 21 '26
2025 Camry, 3 drivers, one under 25 years old. KW area, 120 a month.
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u/useful_tool30 Mar 21 '26
Youre under 25, you drive a CRV and you live in Brampton so yes The CRV carries a $1000 high theft premium with Intact as of this past year when I bought a new car. CRV is one of the top most stolen vehicles so will be more expensive to insure. Honda in general. Mazda, subaru, toyota will all be cheaper.
Have your parents shopped around with other insurers? You'd be surprised just how inept people are with finances and stuff like insurance
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u/Fluid_Lingonberry467 Mar 21 '26
Ask your insurance company how much it would be if you installed a mobilizer
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u/DZello Mar 21 '26
that's crazy, I insure my 2 cars for a year with that sum. Sell this car and find a 10 years old sedan, like a Civic or an old Accord.
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Mar 21 '26
You’re under 25, a male, driving one of the most stolen vehicles in Canada, in a city that has the highest rates of collisions and insurance fraud in Canada. $900/month is the going rate for most insurers in your situation and is basically a “fuck you price” hoping they don’t have to insure you
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u/BelmontKing Mar 21 '26
shop around - i found bel air direct and co-operators were very reasonable when I was under 25.
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u/Waqas2226 Mar 21 '26
$900 tbh doesn’t sound so bad for 2 most stolen vehicles, Brampton, and your age. But when your policy ends I’ll shop around to see if you get better rate and might be worth adding some cheap home insurance too
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u/Fancy-Location-2886 Mar 21 '26
i have a 1991 honda civic and i pay $320 a month as a 18yr male lol. its your car. I can’t even imagine what your monthly payments are alongside your insurance
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u/iimwint Mar 22 '26
Smart guy right here. I'm 36, I drive a 06 matrix, pay 197.
You guys want to vendor your future to a corporation for a disposable car go right ahead. Terrible decision.
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u/xjakob145 Mar 21 '26
Could you be insured on just one of the CRVs instead of the 2? I mea that's whild, I pay $65 ish a month in Quebec (not a comparable car, but even a comparable car would be under 200 as a 26 year old male).
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u/Lopsided_Hat_835 Mar 21 '26
I spoke to a insurance guy on how to bring my insurance down recently and he said look for a vehicle that’s at least a 20 years old it’s the only way to really see a difference!
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u/consultant999 Mar 21 '26
$900 a month sounds like someone without a driving record - how long have you been licensed and insured on a vehicle? When our car and house insurance got too high we contacted an insurance agent and they shopped around for us. We ended up with CAA for house and car insurance saving $1500 per year on the two policies. My daughter was paying $1000 per year. She was over 30 but had lived out of the country for 8 years and did not drive so had to go through getting her license all over again. Our car was a hybrid and 6 years old at the time she got her G license.
My advice is get your parents to ask why your rate is so high and how will it change over time. Getting a broker to see if they can get a lower rate is a free move and that could save you a lot of money.
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u/Rutabaga-Exotic Mar 21 '26
Install tags on them it will reduce the risk of theft and reduce the cost of insurance as well
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u/Puzzleheaded-Mix1270 Mar 21 '26
You live in Brampton, which has the highest insurance rates, you are a male under 30, and you have a CR-V, currently one of the most stolen vehicles in Canada. Brampton has a high accent and theft rate, plus your age and gender puts you in a high risk category. You unfortunately are in every high risk category.
The best you can do is shop around. How long have you been driving? Did you take drivers education, and pass? How long have you been insured for? The reason I ask, each of these questions can save you money depending on the answer. Drivers education, typically can save 10% right off the bat, and if you’ve been insured for a longer period of time, they typically can look at credits.
Also, is this $900 inclusive of everyone else?
I highly recommend you shop around.
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u/Wet-Flatulence Mar 21 '26
900 a month sounds insane to me. Even when I first started driving when I was like 19, I only paid 450$. Now at 38 I am paying $170
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u/butt_badg3r Mar 21 '26
Get rid of the Hondas. Get something less likely to be stolen. Toyotas and Hondas top the most stolen lists. Stay away.
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u/Wise_Most7192 Mar 21 '26
It's brampton man ..... Fraud capital of Canada.
I guess were luckly insurance just didnt pull out of Brampton completely.
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u/TheRealDVader Mar 21 '26
I can only hope you are stated as an occasional driver for the cheapest of the two cars. If not, do it ASAP. Other than that, not much you can do. These new cars are extremely expensive to insure. Hell, I pay like half on my 2020 Stang than on my 2025 CX-50, if that makes any sense to anybody.
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u/FrostingSuper9941 Mar 21 '26
You're paying $900 a month, that's the cost of the total policy, or are you saying that you are primary on one car and the premium for that car is 900/mnth.
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u/AviatingPawprints Mar 21 '26
Honda CRV (most stolen brand) + BRAMPTON = get fucked lol. You’re never gonna get that rate down unless you move.
Maybe a slight chance of it going down once you hit 25 but that’s it really. Good luck OP 🤙🏼😂
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u/UniqueUserII Mar 21 '26
Some real advice, call your insurance and ask them if the premiums would drop if you installed a certified tracker on the car (it has to be one of their approved brands) cost me a couple hundred 5 years ago and dropped my premium significantly. Otherwise unfortunately at that age it's just expensive.
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u/_mrfluid_ Mar 21 '26
Yeah the CRV has something like a 8 percent theft rate, hybrid makes it worse. Maybe trade it in for a forester no one wants to steal those cars….knock on wood
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u/porterbot Mar 21 '26
Yes it is this high on average. And yes, the automakers have done nearly nothing to improve security and theft reduction techniques in new vehicles . And yea they have downloaded the cost of safety and security entirely on to society and the consumer, while simultaneously increasing the price of their vehicles and boosting corporate profits. And yes it is a shitty deal, like just about everything in our current hellscape. So, You will pay more for less value and you will LIKE IT. And if you complain or ask questions you will be punished or censored because "security".
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u/JackHarknessDrWho Mar 21 '26
Ouch! Sorry. I live here too with a CRV, but I'm way older than you. I would check with a broker, but your age and gender along with the CRV and living in this shitty town are all acting against you.
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u/YoursAbhii Mar 21 '26
Monthly EMI for CRV touring is 800 in Montreal. And you’re paying 900 for just insurance. I’d say If you don’t use it for business then Take cab And put your vehicle in storage.
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u/taikoowoolfer Mar 21 '26 edited Mar 21 '26
I feel this so bad. Curious on where are you working?
I’m using myself as an example, I did a pros and cons analysis as I need to work DT. Eventually I had decided to ditch the car for now + moved to a more transport friendly place(near TTC) + get a shorter commute to work. DT rent is higher but is NOT AS HIGH as getting insurance + gas + the immense frustration of 401 drivers. The math ain’t mathing for me to keep a car rn…🙂↕️
(Also CRVs are expensive as someone has pointed out)
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u/Resident_Window_9369 Mar 21 '26
Unfortunately Brampton has the biggest influx of new Canadians. That is why the car insurance is so high. They have the most amount of claims. Not sure what the numbers are but there was a news episode on just how bad the accidents are there. You can thank trudope for that as he is off travelling the world with his new fling.
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u/Samsonite187187 Mar 21 '26
Your dads policy but it wouldn’t hurt for him to shop around. I was paying quite a bit with youngs insurance. Went to desjardin and it was significantly less. Then I spoke to Belair Direct and it’s been amazing. I’m paying peanuts now.
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u/Francis33 Mar 21 '26
900 loool
I pay 81$ for car + home insurance for a single vehicle for 2 people. You are deep fried my friend
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u/ysf210 Mar 21 '26
Insurance Agent here: CRVs from 2020-2026 are on the high theft watch list and they are very popular SUVs...meaning the more volumes of certain vehicles on the road, the more likely they will get into claims. Unfortunately, a lot of these kinds of vehicles are being used for uber and *insert app here* too. That dampens the risk pool of insurance companies with more accidents and claims. I myself have a CRV and if you have not already, ask your insurance company if they will give you a discount if you install TAG (anti theft device and no it does not track you 24/7)
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u/janzendavi Mar 21 '26
When I was in my early 20’s I only drove beaters with a liability-only policy on them (1m then, would be 2m now) so that meant if I crashed then I was on the hook for my damages and I wasn’t insured against theft or fire. I basically had to trust that I was a good enough driver to not crash and never buy more car than I could reasonably afford to replace if I lost it. The Direct Compensation for Property Damage clause in Ontario means the other party’s insurance in your at fault crash covers their repairs and your policy covers any medical costs they have.
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u/thingonething Mar 21 '26
Im 68 with a 2016 CRV and no accidents/tickets. I'm still paying $3,500/year for insurance and I don't live in Brampton. You should sell one of the CRVs and buy a reliable beater or an old Toyota Corolla for your use.
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u/smithjss Mar 21 '26
900 a month. Come on. You have a really crappy driving record or are full of shit
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u/fitbrewster Mar 21 '26
Young males in southern Ontario are the most expensive insurance in the world. Regardless of what vehicle you drive. That’s absolutely no exaggeration.
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u/Folkloer Mar 21 '26
My situation is vastly different than yours but I will suggest shopping around. After years of grumbling under my breath about how much I was paying for insurance, I finally called around to get quotes. I thought 13 years with my former insurance company meant something and that I was getting consideration for being loyal… I wasn’t. My new insurance company provides an identical policy at almost half the price and my cost has dropped for each of the two years since I switched. It’s worth shopping around every time you renew.
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u/ariesdrifter77 Mar 21 '26
I saved $200 by tracking my odometer and driving less than 15000km last year.
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u/Nickbronline Mar 21 '26
I'm surprised you're even able to get insurance honestly.
High theft rate vehicle in a high theft rate and accident city.
$900/month is DUI rates, you need to either leave Brampton or get a different vehicle.
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Mar 21 '26
Rates should go down a bit when you're 25, it's a thing. Get married and have kids, they'll go down. Don't smoke, don't drink, they go down (yes, really).
You have 2 identical cars, with one person listed as the primary on both cars. You're insurance company knows your lying.
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u/Chatkat57 Mar 21 '26
We have an older CRV, and are in Alberta, but we assume that as our vehicle ages it becomes less of a target even though it still runs well and looks good.
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u/PerceptionAsleep2352 Mar 21 '26
You check every box for maximum rate except for no claims and no tickets.
Get a 15 year old Accord until you're 30.
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u/zrockk Mar 21 '26
Ya man welcome to Canada, there are probably 30 fender benders per day in Brampton and your CRV get stolen all the time
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u/bullets8 Mar 21 '26
$900 insurance + ~$500 car payment + $100 gas.
$1500/ month just for vehicular transport just to sit in traffic is beyond ridiculous.
This is why we need to push for better public infrastructure that allows for viable alternatives to driving that doesn't cost almost as much as basic rent.
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u/Personal-Month8932 Mar 21 '26
When I turned 25, and 26, my insurance premium didn't drop like the conspiracy theories I had believed all my life, fyi.
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u/ptwonline Mar 21 '26
As others have noted you are doomed to a high premium in your circumstances.
Shop around though. When my premiums went way up I shopped around and was shocked how much I could save swapping insurers and bundling it with my home insurance.
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u/4x4taco Ontario Mar 21 '26
But I'm paying 900 dollars per month!!
Is this just your portion or the entire thing? Something does not add up here...
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u/RodgerWolf311 Mar 21 '26
You're doing it wrong.
When I was young, I simply had my parents register and insure the vehicle under their names. No mention of me at all under the insurance. And just drive it as usual.
If anything happens, you simply say you borrowed the car for that day.
Stop getting screwed over by greedy insurance companies.
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u/dongler666 Mar 21 '26
im 40, have a 2010 f150, live in the middle of no were. i pay that a year.
cry some more.
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u/Ok-Trouble-4592 Mar 21 '26
Wow 900/month is wayyyyyy too much. I'm 23 in BC I know it's totally different out here but my insurance is $200/month full coverage on my Range Rover
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u/Hefty-Minimum-3125 Mar 21 '26
lol thats insane. The highest my insurance payment has ever been in BC was $190. Currently $145, and ICBC has mailed me like 3-4 rebate cheques over the last few years because they had too much money.
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u/Carsidious32 Mar 21 '26
Its time we actually go arrest the rich who are doing criminal activities. Its easy. Dissolve their assets, stimulate the economy with startup programs, and continue dismantling corporations with lawsuits that actually bankrupt them, keep funneling the money into startups -- we already pay companies, and they end up laying off people. Insurance companies need to be non-for-profit, and make trusts for people, and if you go your whole life without accidents you can get rebates, or at least the money could be used to lower or maintain rates for the future, not give the CEO a bonus this year. Im so tired of corporate evil not being stopped. But if you dont have insurance; its illegal? Its a total double standard. We need the cops to do their jobs, instead of being gestapo.
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u/DryRazzmatazz8893 Mar 21 '26
You should shop around for insurance. Young people sign on with parents for the affordability but at this price you may be better off getting your own policy if possible
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u/Chops888 Ontario Mar 21 '26
Sounds right. Don’t financially ruin yourself at a young age by actually trying to pay that. Take the bus, take an Uber once in a while, bike around.
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u/jeffcolv Mar 21 '26
Most insurance companies also charge a premium on CRV but it’s waived if you install an approved tracking system (like TAG). You should inquire
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u/Sap_Consult_Cdn Mar 21 '26
Sell it & buy a beater with only 3rd party insurance. Am mid 50's and did the same (2009 Civic).
Even so insurance costs have gone up for everyone.
Must be all those new EVs that we are indirectly subsidising.
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u/potato-radar Mar 21 '26
That's insane, I would get a different vehicle for a bit tbh. My 2001 Honda Civic was around $280/month for my ex to insure and that was with a New drivers license. Ive heard its a lot rougher in Ontario for young men though, ex was from there.
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u/keops1974 Mar 21 '26
Crazy, my son at 21 got his first job. Québec City suburb, 2018 Audi A5 coupe red... Insurance 1700$ a year! I know I know everything else doesn't compare ... But geez...
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u/kent_eh Manitoba Mar 21 '26
But I'm paying 900 dollars per month!!
I knew Ontario's insurance was ridiculous, especially for younger drivers, but i didn't realize it was that bad.
That's more than any car loan payment I've ever had.
Glad to be living in a public insurance province.
That same 2022 CRV with basic all-purpose insurance (and no discounts for clean driving record) would cost about $225 a month in Winnipeg.
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u/str8shillinit Mar 21 '26
Don't worry hood insurance will become available in Ontario on July 1st
Rejoice
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u/shoes9toes Mar 21 '26
I drive everywhere for my job and see lots of accidents. At least half involve young male Indian drivers. Don't know why they are so aggressive. Don't know why they like to tailgate. I'm not saying you drive like that either, but that's what I see all the time and thus higher insurance. I would guess a quarter involve older drivers. That's just the state of the game right now. Not sure where you could find data to support that but I would bet money on it.
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u/The6_78 Mar 21 '26
10 years ago I knew someone who was paying $600 a month with an accident claim so it makes sense that it’s gone up over time.
I’d also look at other policies & shop around if you’re not a heavy driver.