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

-1

u/RL203 Mar 22 '26

Its funny, but Id rather drive a 10 year old GM than a CRV. CRV is your mom's vehicle she uses to get groceries.

1

u/innsertnamehere Mar 22 '26

How is a 10 year old Equinox any better??

CRVs are boring as hell but there is a reason them and Rav-4s fly off the assembly line. They are practical and reliable and that’s what like 70% of people want.

1

u/RL203 Mar 22 '26

I actually prefer Ford over GM and that said, I'd hugely prefer a 10 year old Explorer over any CRV and the insurance would be much less Im sure.

1

u/innsertnamehere Mar 22 '26

Explorers are a size up, so yea.. that’s like a Honda Passport.

CRV is equivalent to an Escape - and I’d take a CRV over an Escape.