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How much does car insurance cost in Markham in 2026?
In 2026, the average car insurance premium in Markham is $2,900 per year (about $242 per month). Premiums in Markham are 9.32% higher than the provincial average of $2,653. This makes Markham 172nd out of 181 Ontario communities for car insurance affordability.
How Rates.ca finds the average car insurance premium
Rates.ca’s Auto Insuramap is an interactive map that shows how car insurance rates compare across Ontario’s forward sortation areas (FSA).
The estimated premiums for each FSA are based on the average of the three lowest premiums quoted. These quotes were acquired from Rates.ca using a specific driver profile: a 40-year-old male driver with 16 years of continuous insurance history, driving a four-door Honda Civic that is approximately five years old at the time of quoting.
Very young men tend to pay more for car insurance than young women. We made our driver persona 40-years-old because the differences in premiums for men and women tend to resolve by then. We also made it male to avoid understating the premiums.
From there, we matched the FSAs to their corresponding city, town, or community, along with the number of quotes we received from real Rates.ca users in that area. The average premium for each municipality was weighted based on the number of quotes.
The estimated premium for all of Ontario was calculated by averaging the municipal averages.
Key numbers: Markham car insurance
- Drivers in Markham pay an average of $242 per month and $2,900 per year for car insurance.
- Markham is 172nd out of 181 Ontario communities for car insurance affordability.
- Rates vary by postal code within Markham. Premiums are lowest in L6C at $2,572 and highest in L3S at $3,085.
- After years of increases, premiums are stabilizing — now is a good time to shop around and compare quotes.
As of March 2026
Changes coming to Ontario car insurance in 2026
Car insurance prices in Ontario will continue rising in 2026, but not as sharply as they did in 2023. Still, many drivers may notice higher premiums when their policies renew this year.
- Factors like increasing healthcare costs, cars being more high-tech, and auto theft are leading to higher insurance claims payouts. Insurance companies have raised premiums to cover these costs.
- On July 1, new rules will also change how accident benefits work in Ontario. Some benefits that used to be included automatically will now become optional.
- If you get a new policy after July 1, many accident benefits will not be included unless you ask for them.
- Choosing to do away with the newly optional accident benefits may save up to 5%, but you could lose access to tens of thousands of dollars in critical benefits.
- With the cost of everything rising, it can be tempting to cut down on coverage. Comparing car insurance quotes can help you save without giving up protection.
Markham auto insurance rates compared to the GTA
According to Rates.ca data, drivers in Markham pay about $2,900 per year for auto insurance as of March 2026.
Drivers here pay premiums that are higher than in Burlington, which is the cheapest city for car insurance in the GTA at $2,109 per year.
However, insurance costs in Markham are lower relative to the premiums in Brampton, the most expensive city in the region at $3,802 per year.
Compared to the GTA’s overall average premium ($3,072), car insurance rates in Markham are 5.59% lower.
Car insurance premiums depend on many factors, such as the number of claims in an area, the amount of time drivers spend on the road, and each driver’s personal and insurance history.
Markham vs. the GTA: average car insurance rates (2026)
| Rank | City | Annual premium | Difference vs. Markham (%) |
|---|---|---|---|
| 1 | Burlington | $2,109 | -27.28% |
| 2 | Oakville | $2,167 | -25.28% |
| 3 | Uxbridge | $2,175 | -25.00% |
| 4 | Port Perry | $2,193 | -24.38% |
| 5 | Whitchurch-Stouffville | $2,203 | -24.03% |
| 6 | Newcastle | $2,235 | -22.93% |
| 7 | Sunderland | $2,260 | -22.07% |
| 8 | Orono | $2,269 | -21.76% |
| 9 | Newmarket | $2,275 | -21.55% |
| 10 | Halton Hills | $2,317 | -20.10% |
| 11 | Georgina | $2,380 | -17.93% |
| 12 | Milton | $2,384 | -17.79% |
| 13 | Aurora | $2,397 | -17.34% |
| 14 | East Gwillimbury | $2,399 | -17.28% |
| 15 | Bowmanville | $2,407 | -17.00% |
| 16 | Courtice | $2,435 | -16.03% |
| 17 | Whitby | $2,483 | -14.38% |
| 18 | Richmond Hill | $2,491 | -14.10% |
| 19 | Oshawa | $2,559 | -11.76% |
| 20 | Pickering | $2,650 | -8.62% |
| 21 | Ajax | $2,692 | -7.17% |
| 22 | Caledon | $2,794 | -3.66% |
| 23 | Downtown Toronto | $2,888 | -0.41% |
| 24 | King City | $2,894 | -0.21% |
| 25 | Markham | $2,900 | 0.00% |
| 26 | Mississauga | $3,078 | 6.14% |
| 27 | Scarborough | $3,180 | 9.66% |
| 28 | East York | $3,207 | 10.59% |
| 29 | Vaughan | $3,259 | 12.38% |
| 30 | Etobicoke | $3,277 | 13.00% |
| 31 | North York | $3,348 | 15.45% |
| 32 | Brampton | $3,802 | 31.10% |
GTA average premium: $3,072
Updated March 2026
Markham car insurance rates by postal code
The lowest average premium in Markham is found in the L6C area, where drivers pay $2,572 annually. Meanwhile, drivers in L3S have the highest average premiums at $3,085 per year.
Car insurance rates in Markham vary by postal code. Differences in neighbourhood characteristics — such as claims frequency, collision rates, theft patterns, and traffic density — influence what drivers in any given area pay, since insurers use these factors to predict how likely customers will be to file a claim.
Markham car insurance: average premiums by postal code (2026)
| Rank | Postal code | Annual premium | Monthly premium |
|---|---|---|---|
| 1 | L6C | $2,572 | $214 |
| 2 | L6E | $2,582 | $215 |
| 3 | L3P | $2,616 | $218 |
| 4 | L3R | $2,960 | $247 |
| 5 | L6B | $2,965 | $247 |
| 6 | L3T | $2,973 | $248 |
| 7 | L6G | $2,987 | $249 |
| 8 | L3S | $3,085 | $257 |
Why we don't show complete postal codes
The first three characters of your postal code signfy the forward sortation area (FSA). An FSA covers a specific geographic region used to sort and deliver mail. Each FSA contains multiple postal codes.
Auto insurers also use FSAs to understand risk in an area. For example, if an FSA has more accidents or vehicle thefts than average, insurers may see that area as higher risk. This can lead to higher insurance premiums for people who live there.
We look at premiums at the FSA level because it shows clearer, more reliable pricing patterns. Since each FSA contains many postal codes, using the whole FSA helps smooth out small differences between individual addresses and gives a more accurate view of trends in your area.
Recent car insurance quotes in Markham
Recent auto Insurance Quote from Markham, Ontario
Male, 48 years old
2022 HONDA ODYSSEY EX
June 20, 2026
Cheapest Quote
$ 139 / month
$ 1,664 / yearAverage Quote
$ 262 / month
$ 3,143 / yearSavings
$ 123 / month
$ 1,479 / year
47 %
Recent auto Insurance Quote from Markham, Ontario
Male, 64 years old
2022 TOYOTA COROLLA CROSS L 4DR 2WD
June 20, 2026
Cheapest Quote
$ 219 / month
$ 2,623 / yearAverage Quote
$ 363 / month
$ 4,356 / yearSavings
$ 144 / month
$ 1,733 / year
40 %
Recent auto Insurance Quote from Markham, Ontario
Male, 53 years old
2017 HYUNDAI TUCSON 1.6T 4DR AWD
June 20, 2026
Cheapest Quote
$ 187 / month
$ 2,243 / yearAverage Quote
$ 297 / month
$ 3,568 / yearSavings
$ 110 / month
$ 1,325 / year
37 %
The best car insurance companies of 2026
Drivers should always compare multiple quotes to find the best policy for their needs, and that doesn’t always mean the lowest-priced premium. Instead, a great rate should provide value and quality, with attentive customer service, an easy claims process, and personalized policy offerings.
The Rates.ca Annual Best Auto Insurance Study surveyed 14,676 auto insurance customers in Ontario about their experiences with Canada’s top auto insurance providers. These customers are from five major insurance brokerages that collectively serve more than 220,000 personal line customers.
Customers were asked about their satisfaction levels across multiple categories, from claims processing to ease of communication, as well as coverage options and overall trustworthiness.
Here are the top-ranking auto insurance companies in 2026.
Rates.ca Annual Best Auto Insurance Study 2026
CAA Insurance Company
About the winner
CAA Insurance Company ranks as the top insurer for the third year in a row, also placing first in: Most Trustworthy, Best Product & Value, and Best Communication & Clarity.
Customers praise its low rates and strong claims service. Many use its recommended repair shops.
Its products address real needs, like MyPace, which rewards low-mileage drivers skeptical of traditional usage-based insurance.
Key takeaways
- CAA Insurance leads the market with strong customer satisfaction.
- Competitive rates are the top reason customers choose it.
- The company scores highly for product value, meeting customer needs, and policy innovation.
- It also excels in communication clarity, with nearly all respondents satisfied with their policy documents and over half reporting they are very satisfied.
Intact Insurance
About the winner
Intact Insurance achieved outstanding scores for its claims process. Customers find Intact reps easy to reach, knowledgeable, and proactive. The vast majority report quick claims resolutions.
Over half of customers bypassed their broker and went straight to Intact, underscoring its reputation for hassle-free service.
Of all insurers, Intact Insurance customers are also the most likely to use the company’s app for updates.
Key takeaways
- Intact Insurance is a trustworthy brand, according to the majority of customers surveyed.
- Top-ranked for ease of its claims process; customers say it’s clearly outlined and that reps are helpful.
- Quick claims handling drives satisfaction, with nearly two-thirds of those very satisfied.
- Intact Insurance customers are more likely to reach out directly than calling their broker.
Northbridge Insurance
About the winner
Northbridge Insurance promises quick support: calls are answered within 20 seconds, and an adjuster follows up within three hours.
This speed and efficiency helped drivers rank it among Canada’s best car insurers.
It earns strong marks for claims experience, and customers say it delivers solid value for the premiums they pay without compromising service.
Key takeaways
- Northbridge Insurance is a trustworthy brand according to survey respondents.
- Earned top marks for claims experience across virtually all aspects of the claims process
- Ease of claims handling and expert representatives are key strengths for Northbridge Insurance.
- High ratings for product offerings and overall value.
How we got our ranking
To properly evaluate how great an insurance company is, you have to look way beyond online reviews. In collaboration with Pollara Strategic Insights, we surveyed 14,676 drivers in Ontario about their interactions with their insurers and specific experiences when filing claims to capture new trends and evolving expectations.
According to our methodology, we also asked them to rate their satisfaction with their insurance companies across a few critical areas, including: brand trustworthiness, claims experience, communication, products and billing.
This year, we also expanded the field and allowed insurers to rank for the following titles:
- Best Overall
- Most Trustworthy
- Best Auto Claim Experience
- Best Product & Value
- Best Communication & Clarity
To find the best overall scores, we took the scores for each survey category and weighted averages based on customer demographics, brokerage and insurance carrier.
Mandatory and optional auto insurance in Markham
| Protection type & status | Coverage details & risks |
|---|---|
| Third-party liability [MANDATORY] | $200,000 minimum in coverage is required. Provides coverage in the event of a lawsuit resulting from an accident where you are at fault. Ontario drivers are encouraged to buy at least $1M in third-party liability insurance. |
| Accident benefits: Basic medical & rehab [MANDATORY] | Provides coverage if you are injured in an accident, regardless of who is at fault. Covers medical expenses that aren’t covered by OHIP. |
| Accident benefits: Income & family support [OPTIONAL] | Replaces lost wages, caregiver costs, and funeral expenses. After July 1, 2026, this coverage is no longer included by default on new policies; you must actively opt-in to keep your income safety net. Renewing policies will keep this coverage. |
| Uninsured automobile [MANDATORY] | Provides up to $200,000 in coverage if you are injured or killed by an uninsured driver, or if your vehicle is damaged as a result of a hit-and-run by an unidentified, uninsured motorist. |
Direct compensation property damage [OPTIONAL] | DCPD is a standard coverage. It covers damage to your car, or loss of use of your vehicle, if someone else is at fault. DCPD is automatically included in all policies, but an insurance professional can remove it using form OPCF 49. Insurance experts, as well as the Ontario regulator, warn against this. |
| Collision [ADD-ON] | Covers the costs of repairing or replacing your vehicle following a collision with another vehicle, an object, or property. Usually required for leased vehicles. |
| Comprehensive [ADD-ON] | Covers damages caused by named perils identified under the specified perils coverage, as well as losses from other perils like falling or flying objects, theft, fire, hail, windstorms, missiles, and vandalism. Usually required for leased vehicles. |
| Specified perils [ADD-ON] | Covers damages caused by named perils such as theft, attempted theft, explosions, natural disasters like fire, lightning, windstorm, hail, rising water, earthquakes, and also other perils specified in your policy. Specified perils do not cover damages due to vandalism, breakage of glass, etc. |
| All-perils [ADD-ON] | Combines collision/upset and comprehensive coverage. Also provides additional protection if a household member or an employee steals your vehicle. |
| OPCF 20: Replacement vehicle [ADD-ON] | Covers the cost of your transportation replacement and rental car insurance if you were to get into a car accident or if your vehicle is stolen. |
| OPCF 27: Rental car liability [ADD-ON] | Covers if you damage a borrowed or rental vehicle. The coverage limit is usually around $25,000 to $50,000. |
| OPCF 39: Accident forgiveness [ADD-ON] | Protect your premium from rising when you have your first at-fault accident. |
| OPCF 43: Depreciation waiver [ADD-ON] | Protects you by removing your insurer's right to deduct depreciation from the value of your vehicle when settling a claim. This coverage is for new vehicles with fewer than 5,000 kilometres. |
| OPCF 44R: Family protection [ADD-ON] | Increases your coverage if you're injured or killed in a collision involving an underinsured, uninsured, or unidentified driver. This coverage also applies if you or a family member is injured as a passenger, pedestrian, or cyclist. |
| OPCF 49: DCPD opt-out [ADD-ON] | Removes DCPD coverage from your insurance policy. |
| Legend | Essential: Critical coverage you should always have, with few exceptions Caution: Think carefully before removing Optimal: Useful add-on |
Markham borders the city of Toronto, making it not only a great city in its own right but close to the amenities and excitement of its neighbour. The diversity of Markham is also one of its greatest attributes.
On your hunt, remember that certain factors will affect your car insurance premium:
Where you live: Each Markham community has unique characteristics. Some are at higher risk and prone to theft, vandalism, or collisions. Some are at less risk for these kinds of events. Insurance companies will look at the risk factors where you live and charge accordingly.
Driving history: All insurance companies will want to see your driving record to assess your claims history. Drivers looking for Markham auto insurance will pay more if they have a history of at-fault collisions than drivers who do not. Lowering risk is always behind your insurance companies' decisions.
Deductibles: This refers to the amount you agree to pay before you receive your insurance benefits. Raising your deductible means you are willing to pay more. Your car insurance company will lower your premium in return. Reducing your deductible, on the other hand, will also have the opposite effect.
Your policy: Your insurance needs depend on your age, your marital status, and how often you use your car. Adding a secondary driver to your policy will increase your premium, as will buying optional insurance coverages, like collision and comprehensive insurance.
Insurance history: Because insurance companies in Markham assess risk above all else, your insurance history will play an important part in that assessment. Avoid late payments, making claims, and at-fault collisions to stay in your insurance company's good graces.
How to get the cheapest car insurance in Markham
- Compare quotes
Using sites like Rates.ca can help you save money on your Markham auto insurance premiums. Get up-to-date quotes at the click of a button by entering basic information about you and your car.
Not only will you be able to compare the top insurance company rates in the area, but we'll also connect you to an insurance professional. They'll be able to answer any questions you might have and will get you set up with your new policy.
- Increase your deductible
Changing your deductibles is a great way to save on your Markham auto insurance. The higher the deductible you agree to, the lower your premium will be. While you will save on Markham auto insurance at the front end, beware that repair costs will come more from your pocket. That's the trade-off for the cheaper Markham auto insurance rate.
- Adjust your policy as needed
Buying Markham auto insurance should not be a set-it-and-forget-it kind of proposition. Check your policy annually to see if it still meets your needs and if any changes in your driving habits would warrant a decrease in coverage.
- Bundle home and auto insurance
Buying home and auto insurance with the same company is known as bundling. It will reduce your annual insurance costs by up to 15%.
- Apply for discounts
Many insurance companies offer discounts for specific groups such as seniors, alumni groups or members of associations. Discounts are also available to drivers who:- Install winter tires seasonally
- Use public transportation to commute to work
- Offer to install a telematic device that monitors your driving habits
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Frequently asked questions about Markham car insurance
Everything you might want to know about Markham car insurance
How can I get the cheapest Markham car insurance?
Getting cheap Markham auto insurance starts with comparison shopping. Using Rates.ca instantly lets you get quotes from Markham's top insurance companies. Just a few pieces of information about where you live and your driving needs, and you’ll be able to compare the cheapest rates in the area.
Which company has the cheapest car insurance in Markham?
It is difficult to determine who offers the cheapest car insurance in Markham. Each driver has different needs and risk factors. Comparison shopping on Rates.ca lets you see for yourself the lowest and highest rate insurance companies are willing to offer you.
Can I get month-to-month car insurance in Markham?
Month-to-month car insurance coverage is not available in Markham. Most companies require a one-year commitment for insurance policies, or you could purchase a full year's coverage and cancel it later. You'll be charged a fee for cancelling.
Short-term policies also exist if you rent a car or only need insurance for a few days or weeks. Talk to an insurance professional to see what options are available.
I am a newcomer to Canada. How can I buy car insurance in Markham?
First, make sure you have a driver's licence. The Ontario government has a grace period from the time you arrive to change over your license.
Ontario has reciprocal licencing agreements with select countries. If your home country isn't on the list, you may need to pass a driving test to receive a full G licence. Check with DriveTest, which provides driving exams and licencing in Ontario, to understand the requirements.
After you've crossed the licensing hurdle, you can get insurance. Some Canadian insurance companies will count your driving experience from your home country. Unfortunately, not all will. You may need to build your insurance history from square one, making finding an accommodating insurance company all the more critical.
Begin that process by comparing multiple insurance and brokers in minutes using a rates comparison site like Rates.ca. Similarly, you can talk to individual brokers to find out which insurance companies offer cheap Markham auto insurance.
Markham car insurance rules and regulations you need to know
You must have car insurance if you own or drive a car in Markham.
Auto insurance in Markham, just like any other city in Ontario, is regulated by the Financial Services Regulatory Authority of Ontario (FSRA), an arm of the Ministry of Finance. FSRA's mandate is to ensure prices are reasonable for consumers while allowing companies to finance operating costs, create reserves for future claims, and generate profits for shareholders.
If you drive, own or lease a car and do not carry valid auto insurance, you can be subject to hefty fines ranging from $5,000 to $50,000 on the first conviction. For subsequent convictions, police can seize your car and suspend your licence for up to a year.
Driving without valid auto insurance will lead to insurers deeming you a “high-risk” driver. People labelled high-risk pay higher-than-average premiums and have to contend with companies refusing to sell them insurance altogether. If you are injured in an accident while driving or occupying an uninsured vehicle, you may not be entitled to receive income replacement and non-earner benefits, and you may not be able to sue the at-fault driver for compensation.
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Joel Kranc, Freelance writer
Joel Kranc is a freelance writer and content provider who has worked with Rates.ca since 2019. He holds an MA in political science from the University of Toronto and a film certificate from New York University.
He has been published in and worked for such companies as CNN, Rogers Media, Institutional Investor Magazine, The Globe and Mail, Infrastructure Investor, BenefitsPRO Magazine, Global Finance Magazine, With Intelligence, the CPP Investment Board, Hospitals of Ontario Pension Plan, and many more financial services and industry publications.
He is the author of "Retirement Planning in 8 Easy Steps," which, when released in 2015, was No. 11 on the Publisher's Weekly US Bestseller List for Business and Finance, beating out Mark Cuban's "How to Win at the Sport of Business."
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Disclaimers
*More than 50% of Rates.ca users in Ontario who obtained an auto insurance quote from January to December 2025 saw savings ranging from $250 to $1,050, with an average savings of $583.87. The average savings amount represents the difference between the users’ average lowest quoted premium and the average of the second and third lowest quoted premiums generated by Rates.ca.
**The Registered Insurance Brokers of Ontario (RIBO) is the self-regulatory organization in charge of overseeing insurance brokers working in the province. Its mandate is to protect the public by ensuring that brokers meet provincial standards for licensing, professional competence, and ethical conduct. It maintains a public database of registered brokers, which displays a broker's licensing status and their standing within RIBO.