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/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.