According to the Insurance Bureau of Canada drivers pay an average of 1832 a year for car insurance.

How are auto insurance rates calculated. And if you tend to amass speeding tickets like a kid collecting hockey cards youll pay a major premium. The factors that determine your car insurance rates can be divided into four categories. Type in your postal code.

From vastly differing numbers to myths here and there youve heard throughout your life and have seen online it can be a lot. In Ontario and beyond car insurance providers use complex algorithms based on a plethora of factors to determine each drivers unique insurance rate. Answer a few basic questions about your driving car insurance history.

The base premium either rises or falls depending on your driving and insurance history. This will help you to understand the car insurance premium rates and give you a fair idea about how much you will have to pay. The car insurance calculators are free online tools that quickly and efficiently tell.

Car insurance rates are regulated by the states but as long as companies observe state laws they are free to charge what they wish. If you havent been driving long enough to establish a record youll pay a premium for that. Are car insurance rates set by law.

Your driving profile ie. Our car insurance premium calculator will automatically generate the number of kilometers you travel annually. Here is how car insurance rates are calculated.

Sports cars tend to have high operating costs and you will save money if you lower your. The number-one factor used in calculating car insurance rates is your driving record. Your rates are determined based on a combination of the following four objective risk-based factors.