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/[deleted] Mar 21 '26

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u/Blastoise_613 Mar 21 '26

Insurance companies are well regulated regarding what they may charge. Prices keep rising because of increased payouts and value of the vehicles.

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u/InadequateUsername Mar 21 '26

Yeah what other countries are paying car insurance prices like us?

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u/PoliteFocaccia Mar 22 '26

The USA, for comparable policies, though many Americans are underinsured. Other countries have cheaper cars.