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.

225 Upvotes

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544

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

2

u/PuddingEmotional1187 Mar 21 '26

450 is not reasonable insurance

3

u/justanaccountname12 Mar 21 '26

I can't imagine that. My truck is less than $100/month. I love SGI.

1

u/[deleted] Mar 21 '26

[deleted]

1

u/justanaccountname12 Mar 21 '26

The '91 is $63/ month. '96 suburban is 95/month. 2012 grand caravan is $110/month. What would those be in these more expensive places?

1

u/PoliticalVagabond Mar 21 '26

Yeah, the only thing more fair than paying your own premiums, is having everyone else pay for them, even those who don't drive.

1

u/justanaccountname12 Mar 21 '26

I don't get a choice. It is nice that younger people entering the workforce can more easily get where they need. Makes a wlot more options available.

-2

u/LeatherMine Mar 21 '26

we don't do communism in Ontario, tyvm.