Canadians will pay $1500 more on insurance: who will be affected

Raise the payment to owners of relatively new cars of popular brands. For example, a Toyota Highlander manufactured from 2019 through 2024 will cost the owner the same $1500 per month more. And the same 2017 brand will remain the same in insurance coverage. Experts also explained how Canadians can save money and avoid higher payments.

To do this, at a minimum, you need to install the agency-required means of protecting the car – either a professional alarm system, or at least a steering wheel lock. And the second, cardinal option: move to a “grown-up” car. For example, insurance for a 2024 Volkswagen Jetta will cost 6 percent more than the same 2018 model.