icon

Compare Markham Car Insurance Quotes

Compare 30+ insurance companies and find your cheapest Markham car insurance quote now.

Compare rates from car insurance companies you trust

sonnet insurance logo
Intact insurance logo
CAA logo
RSA Insurance logo
Aviva logo
Allstate Insurance Logo
Jevco insurance logo
Economical Insurance logo
Zenith Insurance logo
Perth Insurance logo
Northbridge Insurance logo
TD Insurance logo
Gore Mutual Insurance logo
Cheiftain Insurance logo
Wawanesa Insurance Logo

How to get your auto insurance quotes on RATESDOTCA

Ready to compare quotes and save?

1

Tell us about your vehicle

Answer a few basic questions about your driving & car insurance history.

2

Compare your quotes

See quotes from insurance companies side by side.

3

Choose the right coverage

Find the right protection for your vehicle.

Get Covered

Connect with the provider and secure your rate.

Auto insurance in Markham

Markham is a city that sits within the Regional Municipality of York that makes up part of the Greater Toronto Area (GTA). Its position as an important part of the Golden Horseshoe and strong industry ties makes Markham an important business hub in Ontario. This has driven population growth in recent decades and consequently led to Markham being among the most expensive auto insurance markets in Canada.

Despite playing host to an array of industries today, Markham’s heritage is of a town focused on agriculture. However, after World War II, the town started to develop and become and urbanized centre for commerce and business, while also acting as a satellite to Toronto. This development was accelerated upon the completion Highway 404 during the mid-1970s. The highway connected Markham with Toronto and has meant traffic growth around the city has been rapid, another contributor to high insurance premiums in Markham.

Why is car insurance expensive in Markham?

Markham is located within both the Golden Horseshoe and Greater Toronto Area. It is a centre of business and commerce and helps to make up an urban sprawl that is the most economically fruitful in Canada.

This area also carries notoriety for having average auto insurance premiums that are the most expensive in Canada. Markham is no exception to the rule. The city is very expensive for customers insuring a vehicle. Ontario as a whole carries the highest premiums in the country, with a provincial average of around $1,500.

The Greater Toronto Area is the base that makes the average across the province so high. The top ten most expensive insurance markets in the country are located in the Golden Horseshoe region, and Markham is among them. There are a number of factors that cause this, and here are some of the most important:

  • Insurance companies charge too much. The private auto insurance industry has been widely criticized for allowing rates to go too high over the last number of decades. In response, companies insist that market conditions resulting from other factors mean that premiums must be high to offset risk.
  • In Ontario, companies assess insurance on factors such as driving experience, driving record, type of vehicle, policy required, and age/gender. However, insurers will also look at external factors, such as the location a vehicle will be stored and used, how busy the area is, the amount of traffic, theft rate, and likelihood of a collision. Because of the population, size, and location of Markham, insurers essentially hedge their bets with high premiums to avoid losing money.
  • Fraud. Unfortunately, auto insurance fraud is a major problem in Ontario, with the focus on the Greater Toronto Area. Crime rings have formed that ship vehicles overseas and claim them as stolen to insurers. It is believed fraud costs customers over $1 billion per year and hundreds of dollars could be saved on an average premium if fraud was removed entirely.
  • Government failures. The government spent too many years ignoring the constant growth of premiums in Ontario. Over the last three years, the provincial government has enacted a number of initiatives to lower costs. It is a slow progress, but the hope is premiums will eventually fall.

Finding affordable car insurance in Markham

Really, in Markham, the only way to feel good about an insurance premium is to shop around. Still, some customers avoid shopping and take the first quote that comes their way. This is a huge mistake, customers who do not shop around are almost always overpaying for coverage.

Comparing quotes is crucial for customers who want the best value for money and a policy that meets their specific criteria. Shopping around manually is a time consuming chore, which is why our quote comparison tool is so useful.

Latest auto articles
Rules of the Road: What Is Right-of-Way?
Right-of-way determines which driver has the right to proceed first through an intersection. But it isn’t always obvious. Here’s what you need to know.
Back to School: Safety Tips for Drivers
With the Labour Day weekend over, thousands of students are heading back to class. Drivers need to be extra cautious when driving through residential neighbourhoods and school zones. Here are a few helpful reminders for navigating the roadways safely.
Does Your Car Insurance Cover You When Travelling Out-of-Province?
The glory of autumn is upon us. Many Canadians may be thinking of taking a road trip to explore the fall foliage and scenic views outside of their home provinces. But before you go, take a few minutes to ensure your vehicle and family are covered for unexpected mishaps.