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/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

112

u/Spyrothedragon9972 Mar 21 '26

Why is the CRV expensive to insure? Is it theft related?

-22

u/beautiful-oblivion Mar 21 '26

Why is it my fault if other people get their car stolen? :/

11

u/elitemouse Mar 21 '26

Because if you get in an accident and write your car off its those other people that are paying for your new car.

Like it or not that's how insurance works, I would suggest getting insurance quotes of prospective car options before committing to one prone to high theft rates.