Vaughan car insurance

Vaughan Car Insurance – 2020 Review and Prices

Vaughan is a city located in the Greater Toronto Area (GTA) of Ontario. Like other cities in the province, car insurance service in Vaughan is provided by independent and private insurance companies, whose rates are reviewed and regulated by the provincial government.

Drivers and vehicle owners in the city of Vaughan pay one of the highest premiums in Ontario. A number of factors are responsible for this. Ontario is the second most expensive province in terms of high auto insurance rates, coming behind British Columbia. Hence, it is no surprise that some major cities pay high auto insurance rates.

However, when compared to the car insurance rates in other large and urban cities, Vaughan car insurance rate is more expensive than the provincial average. In Ontario, car insurance rates change four times a year. The Financial Services Regulatory Authority of Ontario (FSRA), which is formerly known as the Financial Services Commission of Ontario (FSCO) reviews and publishes new auto insurance rates every three months.

The FSRA/FSCO, therefore, recommends that drivers in the province should compare car insurance rates from at least three different insurers to get the cheapest rates.

Meanwhile, it is possible to get a lower and discounted car insurance rate in Vaughan. The information on this page will provide you with factors that determine your rates and tips on how to enjoy a much lower premium.

About Vaughan

Vaughan is a Canadian city located in the York Region of the Ontario province. As a part of the Greater Ontario Area (GTA), Vaughan is famously known as “The City Above Ontario”. The city of Vaughan is the fifth largest in the GTA and the seventeenth-largest city in Canada.

With a population of over 300 thousand residents (306,233 according to the 2016 census data), Vaughan attracts people from all walks of life. The city is the third-largest employment centre within the GTA, coming behind Toronto and Mississauga. Vaughan is equally the most significant contributor to the economy of the Regional Municipality of York.

Apart from its economic significance, the city of Vaughan also has a number of tourist attractions such as the Vaughan Mills shopping centre, Canadian Wonderland, and more.

Vaughan Car Insurance

Like other cities in the GTA, the city of Vaughan attracts a lot of drivers and commuters on its roads and highways, possibly as a result of its commercial, economic, and cultural significance in the region. The city also shares its high auto insurance rates popularity with its fellow GTA cities.

Vaughan has some of the highest car insurance rates in Canada, with drivers and vehicle owners paying thousands of dollars as premiums. Hence, a lot of vehicle owners and drivers in the city aren’t so lucky, compared to residents of other Ontario cities like Windsor and Sudbury.

There is no escape route. Car insurance is mandatory for all vehicle owners and drivers in Canada. It is a punishable offence to drive around without proper car insurance coverage. Drivers in Vaughan, therefore, have only the option of shopping around for the best and cheapest car insurance rates.

Although it is a known fact that auto insurance rate in Ontario is the second highest in the country, with many cities in the province having a higher than average car insurance rates, but the cities in the GTA region have premium rates that exceed other cities in Ontario.

Car insurance in Vaughan is provided by private auto insurance companies, whose rates vary widely in hundreds, and sometimes thousands of dollars. These car insurers use a number of factors to determine premiums paid by their clients, some of which are beyond the control of the drivers.

Though these car insurance rates are reviewed and regulated by the provincial government through the FSRA (FSCO), the competitive nature of the insurance market implies that there is no fixed rate or figure.

Car insurance rates are regularly reviewed every three months. Therefore, Vaughan drivers can get the lowest available rates from insurers.

Average Car Insurance Rates in Vaughan

“Drivers and vehicle owners in Vaughan can expect to pay between $2,160 and $4000 as premiums”

The strategic location of Vaughan in the GTA and other factors such as high traffic volume, theft rate, collision rate, and more have contributed to the cost of car insurance in the city. In the GTA, car insurance in Vaughan is one of the most expensive.

Therefore, drivers and vehicle owners in Vaughan can expect to pay between $2,160 and $4000 as premiums. These figures exceed the provincial average of $1,528.

Types of Car Insurance Coverage in Vaughan

The provincial government of Ontario requires all vehicle owners and drivers to have mandatory car insurance coverage on their vehicles. This mandatory coverage is the minimum for all drivers in the province. However, anyone that requires extra protection can include the optional car insurance coverage in their policy.

Mandatory Car Insurance Coverage

  • Third Party Liability Coverage

If you are at fault in a collision or accident and cause bodily injury or damage to another person, this coverage protects you from the lawsuit and covers the cost of repair or compensation. The minimum liability ion Ontario is $200,000 though most drivers opt for an average of $1 million.

  • Accident Benefits Coverage

Regardless of who is at fault in an accident, this coverage ensures that your insurance provider will take responsibility for the medical and rehabilitation expenses, and other related benefits.

  • Uninsured Motorist Coverage

If you are involved in a collision with a hit and run motorist or an uninsured or unidentified driver, this coverage pays for the repair of your vehicle.

  • Direct Compensation Property Damage (DCPD)

This coverage covers the repair of your vehicle if you are not at fault in an accident.

Additional or Optional Coverage

  • Collision Coverage

This coverage protects against damages done to your car in a collision with another vehicle or an object.

  • Comprehensive Coverage

This coverage protects against loss or damage to your car from a non-collision event, such as theft, flood, storm, vandalism, etc.

  • Waiver of Depreciation

If your insured car is a brand new car of about 24 to 48 months, if involved in an accident, you have the option of receiving a new car or the exact value of the car from your insurer.

What Factors Contribute To My Car Insurance Rate In Vaughan?

  1. Your postal code or residential location.
  2. The age and gender of the driver. Mostly, young drivers and male drivers in the city pay high premiums, as insurers consider them as high risk drivers.
  3. Your driving record and insurance history, which includes tickets, collision claims, traffic charges, and more.
  4. The type of car you drive. This involves the theft rate of the car, year, model, and repair cost.
  5. The types of coverage included in your car insurance policy.
  6. Your commute and the length of time you spend on the road.

Tips for Getting Lower Car Insurance Rates in Vaughan

  1. Shop around and compare quotes from different car insurance providers and choose the best and most affordable available rate.
  2. Apart from the mandatory coverage, choose only the optional coverage that you need in your policy. If you drive an old car, you might consider dropping some of the optional coverages.
  3. Bundle your policy by combining your home and auto insurance policies with the same insurer.
  4. If you have more than one car, consider insuring all your vehicles in a single car insurance policy.
  5. Buy and install winter tires. This guarantees your safety and can earn you up to 5 percent discount.
  6. Increase your car insurance deductibles.
  7. Pay your premiums annually to cut off administrative fees that are usually associated with monthly premium payments.
  8. Ask your auto insurer for discounts that you might be eligible for, such as membership of an alumni association discount.
  9. Choose a car with low theft rate, high safety ratings, and low repair cost.

Tips for Driving in Vaughan

  • Vaughan has a number of highways and busy roads such as Highway 400 and Highway 7.
  • Vaughan has high traffic volume on its roads, hence, expect high traffic delays and plan your route ahead with extra time.
  • Expect to stop for pedestrians and observe traffic rules. It is important to drive with caution, as the city has several cyclists on its roadways.
  • The city of Vaughan has a number of intersections with high collision rates, such as Highway 400 and Major McKenzie Drive, Weston Road and Highway 7, Rutherford Road and Jane Street, and more.
  • Vaughan experiences high traffic on its roads, especially during peak rush hours.
  • Vaughan uses the Road Watch program, which is a community-driven initiative that allows drivers and residents to report dangerous, unsafe, and illegal driving behaviour.

Most Popular Vehicles in Vaughan

The following are some of the most popular vehicles and brands insured by drivers and vehicle owners in Vaughan.

  • Chevrolet Cruze
  • Honda CR-V
  • Honda Civic
  • Hyundai Elantra
  • Jeep Grand Cherokee
  • Volkswagen
  • Mazda

Conclusion

Vaughan car insurance rate is one of the most expensive in Ontario, with drivers in the city paying auto insurance rates that are higher than the provincial average. It is essential for drivers in the city to compare rates regularly to ensure that they are not overpaying for coverage.

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