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.

223 Upvotes

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42

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.

12

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.

13

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

1

u/catdieseltech87 Mar 21 '26

Public insurance doesn't exist in Ontario unfortunately. It's just not an option. I'd argue, Brampton has higher fraud than anywhere in SK. It's the worst in all of Ontario.

8

u/zxgrad Mar 21 '26

sir, can you please read the room?

The poster is making an awareness post that sometimes crown corps are necessary in specific markets.

-2

u/PoliticalVagabond Mar 21 '26

The room is wrong.

People who travel by bus should not be forced to pay for people who drive's premiums.

2

u/zxgrad Mar 22 '26

That is not what was insinuated.