Car insurance Newmarket, ON
Part of a series on car insurance rates in Ontario.
Car Insurance Newmarket FAQ
What is the average car insurance cost in Newmarket?
In Newmarket, Ontario, the cost of car insurance can vary depending on several factors, including the driver’s age, driving history, vehicle type, and chosen coverage levels. According to available data, the average annual car insurance cost in Newmarket is approximately $3,216. However, it’s essential to note that this is just an average, and individual rates may differ significantly. The premiums can be higher or lower depending on the specific circumstances of each driver and the insurance company they select.
For a more accurate estimation of car insurance expenses in Newmarket, it is recommended to obtain quotes from multiple insurance providers and compare their rates and coverage options. This will help you identify insurance costs that suit your specific needs and situation. To simplify the process and save time and money, consider contacting aha insurance to work with an insurance broker who can compare quotes from leading insurance companies on your behalf.
How do I know if I have the most complete car insurance?
To determine if you have the most complete car insurance coverage, you should review your insurance policy and assess the specific coverage options it includes. Here are some steps to help you evaluate the completeness of your car insurance:
Understand Your Policy
Read through your insurance policy documents carefully. Familiarize yourself with the coverage types and limits outlined in the policy, including liability coverage, comprehensive coverage, collision coverage, uninsured/underinsured motorist coverage, medical payments coverage, etc.
Compare Coverage Options
Compare your policy’s coverage options with what is typically considered comprehensive car insurance coverage. A comprehensive policy should offer a broad range of protections that adequately safeguard you against various risks and potential losses.
Check for Optional Coverages
Some car insurance policies offer optional coverages, such as roadside assistance, rental car reimbursement, and gap insurance. Review these optional coverages and consider whether they would be beneficial for your needs.
Assess Coverage Limits
Evaluate the coverage limits of each type of coverage in your policy. Ensure that the limits are sufficient to protect your assets adequately and cover potential damages or liabilities in case of an accident.
Verify Special Situations
If you have unique circumstances, such as a classic car, expensive modifications, or business use of your vehicle, make sure your policy adequately addresses these situations.
Consider Personal Needs
Take into account your personal financial situation, risk tolerance, and the value of your car. The most complete car insurance for one person might not be the same for another, as individual needs vary.
Consult with an Insurance Broker
If you are uncertain about the completeness of your coverage, consider reaching out to an insurance agent or broker. They can help you review your policy, understand the details, and offer advice on any additional coverage that may be beneficial for you.
Stay Informed about Changes
Regularly review your insurance policy and keep yourself informed about any updates or changes in coverage made by your insurance provider.
Remember that complete car insurance coverage is subjective and can vary based on individual preferences and needs. It’s essential to strike the right balance between comprehensive coverage and affordability, ensuring you have adequate protection without paying for unnecessary extras.
What is dangerous driving, and how does it impact my car insurance rate?
Engaging in dangerous driving, which includes reckless behaviour like excessive speeding, aggressive driving, DUI, and distracted driving, poses significant risks to yourself and others on the road. As a consequence, insurance companies view such conduct as high-risk behaviour, leading to several negative impacts on your car insurance rate. Dangerous driving can result in higher premiums due to the increased risk associated with insuring a driver with a history of reckless behaviour. Furthermore, repeated traffic violations or severe offences may even lead to policy cancellation or non-renewal by the insurance provider. Additionally, finding coverage might become difficult as some insurers may be reluctant to provide insurance to high-risk drivers. It can also lead to the loss of good driver discounts, further raising insurance costs.
When you engage in dangerous driving, you pose a higher risk of causing accidents and injuries to yourself, other motorists, pedestrians, and property. Insurance companies assess risk when determining car insurance rates, and a history of dangerous driving behaviour can significantly impact your premiums.
How can I get the best car insurance?
When searching for the optimal car insurance in Newmarket, it is crucial to navigate through a multitude of choices and discover the coverage that aligns with your specific requirements and financial constraints. This undertaking can feel overwhelming, given the diverse offerings from insurance providers, each with its own rates, coverage choices, and customer service quality. To secure the best car insurance in Newmarket, it is imperative to follow a thorough process that encompasses the following steps:
Research and Compare
Start by researching different insurance providers and the coverage options they offer. Look for reputable insurance companies with good customer reviews and ratings. Compare policies, coverage limits, deductibles, and premiums to find the best fit for your requirements.
Assess Your Needs
Evaluate your specific insurance needs based on factors such as your driving habits, the value of your car, your budget, and any additional coverage you might require. For example, if you have an older car, you might consider dropping comprehensive and collision coverage to save money.
Check Discounts
Many insurance companies offer various discounts, such as safe driver discounts, multi-policy discounts (if you bundle multiple insurance policies with the same provider), and discounts for certain safety features in your vehicle. Inquire about these discounts and see if you qualify for any.
Maintain a Good Driving Record
Your driving history plays a significant role in determining your insurance premiums. Maintaining a clean driving record with no accidents or traffic violations can help you qualify for lower rates.
Increase Deductibles
Increasing your deductible—the amount you pay out of pocket before insurance kicks in—can lower your premium. However, ensure you can comfortably afford the higher deductible if you need to make a claim.
Consider Usage-Based Insurance
Some insurers offer usage-based insurance programs that track your driving habits using telematics devices or smartphone apps. If you are a safe driver, you may be eligible for discounts based on your actual driving behaviour.
Review Coverage Annually
As your circumstances change, so might your insurance needs. Review your policy annually to ensure it still meets your requirements and to check if you can find better deals with other providers.
Seek Advice from an Insurance Broker
If you’re unsure about the best options for your situation, consider consulting an independent insurance broker who can provide personalized advice and help you compare quotes from multiple insurers.
What are the 3 types of car insurance in Newmarket?
In Newmarket, Ontario, drivers have the choice of selecting from three main categories of car insurance coverage. These three primary categories of car insurance coverage in Newmarket offer different levels of protection and benefits, allowing drivers to tailor their policies according to their specific needs and preferences.
Liability Coverage
In Newmarket, Ontario, this represents the essential coverage mandated by the province’s law. Liability coverage ensures financial protection if you are found responsible for an accident that results in injury or property damage to others. It covers the expenses for the damages and injuries suffered by others, but it does not extend to your own injuries or property damage. Liability coverage is a fundamental part of standard car insurance policies in Ontario, which usually encompass uninsured motorist coverage, direct compensation-property damage (DCPD) coverage, and accident benefits coverage.
Collision Coverage
Collision coverage is an optional component of your car insurance policy that provides financial protection for your vehicle in the event of an accident, regardless of fault. It covers the cost of damages up to the vehicle’s current market value minus the deductible you’ve chosen. This coverage is particularly useful for valuable vehicles or those with ongoing car loans. However, for older vehicles with lower market values, it may be worth considering whether the cost of collision coverage outweighs the potential benefits. Consulting with an insurance agent can help you determine the most suitable coverage based on your vehicle’s value, driving habits, and budget.
Comprehensive Coverage
Comprehensive coverage is an optional addition to your car insurance policy that provides protection against non-collision incidents such as theft, vandalism, and weather-related damage. It covers the costs of repairing or replacing your vehicle up to its current market value after you pay the deductible. This coverage is particularly valuable for those living in areas prone to such incidents or with high-value vehicles, but it’s essential to consider the cost against potential benefits for your specific situation. Consulting with an insurance agent can help you make an informed decision tailored to your needs.
How does mileage impact my auto insurance rate?
Higher mileage means more exposure to potential risks, making you statistically more likely to be in accidents, which can lead to higher insurance premiums. On the other hand, some insurers offer discounts to drivers with lower annual mileage, as they present a lower risk. Usage-based insurance programs can also be beneficial for low-mileage and safe drivers, providing personalized discounts based on actual driving behaviour. To impact your auto insurance rate positively, be honest about your mileage, maintain a clean driving record, and explore usage-based insurance options if you are a low-mileage driver with safe habits.
Fast facts about auto insurance in Newmarket
Average annual car insurance rate
Regular drivers in the city
Collisions per year (approximately)
%
Collision rate for the city
Average age
Average household income
%
Unemployment rate
Population
Understanding car insurance in Newmarket, Ontario
Newmarket is a bustling town nestled just an hour north of Toronto, about halfway to Barrie. Chosen for its real estate and small town feel, it has access to both Highways 400 and 404.
This makes it another classic suburban satellite community for professionals working in Toronto during the week., and the numbers show it. 66% of Newmarket’s labour force commutes outside of the town for work. That’s 28% of the town’s entire population.
That’s going to have a big effect on the town’s average car insurance rate, especially since about 75% of the town’s commuting workforce does so as a driver. Highway exposure and extended commuting exposure has that affect on car insurance rates for many GTA communities.
Combined with a moderate collision rate and a moderate crime severity index, Newmarket sits on the upper-middle end of the car insurance spectrum.
Get your bundle on & save!
Want even cheaper insurance? Save up to 50% on home and up to 15% on car insurance when you bundle them.
Get your bundle on & save!
Want even cheaper insurance? Save up to 50% on home and up to 15% on car insurance when you bundle them.
Busting myths about driving and insurance in Newmarket
Myth: Newmarket is cheap because it’s outside of Toronto.
You’d think so, but housing is actually on the expensive side for a town of Newmarket’s size.
The average price for a detached home well exceeds $700,000, and the average rental price for a two-bedroom apartment sits around $1,750 per month in early 2020. There
Myth: The “Dog Patch” is dangerous and not a place to raise kids.
Generally, the area referred to as the “Dog Patch” gets a negative reputation that it doesn’t deserve. A former York Regional Police chief, Armand Labarge, has said that it doesn’t generate more 9-1-1 calls than any other area in Newmarket. Pay attention to specific streets more than the neighbourhood.
Myth: You’ll have to find work outside of Newmarket and commute a lot.
It’s entirely possible, but there’s a reasonable chance at employment within the city. 34% of the town’s employable workforce drives to work within the town, and 37% commutes to work somewhere else in York Region, according to Statistics Canada. Only 29% of people commute outside of York Region for work on a daily basis.
Myth: Newmarket is going to stay a small town forever.
Newmarket’s population of more than 80,000 people places it on the cusp of city status, which is why retailers have established a presence here. In fact, Newmarket is set to grow by another 33,000 people and another 32,000 jobs by 2050, which will make it a popular real estate location in the future.
How Newmarket’s rates compare to other cities in Ontario
- North York: $4,261
- Etobicoke: $4,199
- Brampton: $4,071
- Scarborough: $3,825
- East York: $3,605
- Woodbridge: $3,603
- Richmond Hill: $3,579
- Mississauga: $3,473
- Markham: $3,389
- Niagara Falls: $3,321
- Bowmanville: $3,308
- Peterborough: $3,259
- Pickering: $ 3,245
- Newmarket: $ 3,216
- Hamilton: $3,201
- Brantford: $ 3,158
- Maple: $3,150
- Whitby: $3,087
- Ajax: $3,053
- York: $2,999
- Toronto: $2,983
- Barrie: $2,924
- Thornhill: $2,871
- Waterloo: $2,867
- Caledon: $2,780
- London: $2,765
- Fort Erie: $2,720
- Oakville: $2,720
- Sault Ste Marie: $ 2,713
- Kitchener: $2,705
- Milton: $2,680
- St Catharines: $ 2,550
- Windsor: $2,536
- Woodstock: $2,513
- Innisfil: $2,505
- Burlington: $2,476
- Kingston: $ 2,360
- Cambridge: $2,297
- Oshawa: $2,295
- Guelph: $2,268
- Gloucester: $2,256
- Stoney Creek: $2,222
- Nepean: $2,196
- Ottawa: $2,195
- Sudbury: $2,005
- Kanata: $2,002
- Thunder Bay: $1,973
- Wasaga Beach: $1,958
Quick tips on insurance and driving in Newmarket
Avoid Newmarket’s worst intersections.
Every town has some bad intersections. Avoid the worst ones in Newmarket whenever possible to reduce your chances of a collision (and higher rates):
- Yonge Street and Green Lane
- Davis Drive and Bathurst Street
It’s also worth mentioning caution when entering and exiting Highway 404 onto Murlock Drive.
House hunting in Newmarket? Tour neighbourhoods with low crime rates.
Crime rates affect everybody’s car insurance rates—home insurance premiums, too. Check out these neighbourhoods:
- Bogarttown
- Stonehaven
- Crowder Blvd
- Summerhill
Working in Toronto? Take the train south into the city.
You can take the Barrie line to get to Union Station with relative ease. It has limited runs throughout the day, so make sure you time it properly (and you can plan your trip here).
You can also take a bus between the Newmarket terminal and the Aurora GO station, taking the train into Toronto from there. It’s a fair distance, but it’s doable.
Sources for fast facts about Newmarket:
- Statistics Canada, Newmarket 2016 Census Profile
- Ministry of Transportation, 2016 Road Safety Report
- YorkRegion.com, “Low-income stigma felt across region”
- YorkRegion.com, “Newmarket, Georgina and Vaughan top York Region’s worst roads list”
- YorkRegion.com, “BIG 5: York Region’s most dangerous intersections revealed”
- GO Transit, System Map | Trip Planning
- Chan Khamphoomee via YouTube, “HD Drone Footage – Fly Above Beautiful downtown Newmarket, Canada”
- YorkRegion.com, “Renewing Newmarket: Challenges and opportunities”
Source for average insurance rates by city:
- Survey of 2,800 auto insurance policy holders in Ontario
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