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      03-17-2020, 01:37 PM   #1
canadaeh89
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Car Insurance GTA (Ontario)

Hey everyone,

Got two quotes from insurance company for a 2018 BMW M2 in Mississauga for around $200/month. Is this reasonable?

I was paying about $160/month for my M235i so just wondering if this is in the ballpark of what most ppl are getting. Or any insurance company recommendations?

Thanks
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      03-17-2020, 01:53 PM   #2
S2kM2dan
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I was paying

$145
29 yr old
Ajax
0 tickets
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      03-17-2020, 01:55 PM   #3
canadaeh89
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Quote:
Originally Posted by S2kM2dan View Post
I was paying

$145
29 yr old
Ajax
0 tickets
I'm 30 with 0 tickets, I'm not sure if being in Mississauga affects it that much.
Do you mind sharing your company? Thanks
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      03-17-2020, 09:42 PM   #4
M2Cmtl
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Jesus insurance is expensive in Ontario...I will be paying 95$ per month when I get my M2C...or if (Covid...)
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      03-17-2020, 11:13 PM   #5
G80BSM
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Quote:
Originally Posted by S2kM2dan View Post
I was paying

$145
29 yr old
Ajax
0 tickets
Thats pretty good. I’m paying $178 with multiple discounts, 29 with no tickets in Halton. I paid that much for my 320xi back in the day!
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      03-17-2020, 11:16 PM   #6
G80BSM
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Quote:
Originally Posted by f31mtl View Post
Jesus insurance is expensive in Ontario...I will be paying 95$ per month when I get my M2C...or if (Covid...)
Insurance in Quebec is really cheap. I was living in Monteal and had a 328i when i started driving. My insurance was $100. When I moved to Toronto the next year, I transferred my 328 to a friend and bought a Honda Accord here. I paid $240 for my Accord in Ontario. In case you are wondering, thats the reason why I didn’t keep my Bimmer. LOL. The insurance premium on the 328 was almost $300 at that time!!
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      03-17-2020, 11:18 PM   #7
G80BSM
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Quote:
Originally Posted by canadaeh89 View Post
I'm 30 with 0 tickets, I'm not sure if being in Mississauga affects it that much.
Do you mind sharing your company? Thanks
It actually does. Insurance in the Peel region is 20-30% higher than regions like Halton. Try RBC or Sonnet. They are generally cheaper. Also, what is you liability amount?
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      03-18-2020, 03:26 PM   #8
Mister RK
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In my 30's and I pay around $130 per month through TD. My auto insurance is bundled with my home insurance for some extra discount. You can try getting a free quote from them through their online webtool. Just search on Google "TD insurance quote" and it should be the first link that pops up.
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      03-19-2020, 02:10 PM   #9
S2kM2dan
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Quote:
Originally Posted by canadaeh89 View Post
I'm 30 with 0 tickets, I'm not sure if being in Mississauga affects it that much.
Do you mind sharing your company? Thanks
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      03-21-2020, 04:30 PM   #10
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People that ask about insurance rates don't understand how insurance rates work. Insurance is such an individual thing. These threads are ridiculous.
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      06-09-2021, 12:00 AM   #11
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Hey man! If you're looking to explore more options to get possibly lower rates, I highly recommend you check out https://www.surex.com/Insurance/auto-car/ontario. It's an online insurance brokerage site that could help you get multiple quotes from the leading auto insurance providers so you can make an easy comparison from there in terms of price and coverage inclusions. It's where I get my insurance from and so far I have no complaints and I've always had a smooth and transaction with their insurance advisors. Hope this helps!
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      06-09-2021, 07:17 AM   #12
Djphonics
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Quote:
Originally Posted by NO3PUTT View Post
People that ask about insurance rates don't understand how insurance rates work. Insurance is such an individual thing. These threads are ridiculous.
Very true. Your history with your provider can have a big impact. Region is very important as well.

Gta rates are fairly high compared to rural areas.

For what it's worth though, $163/month with an accident in 17, and in 09. No convictions. Halton region

The m2 was $100 more than a 230, and $40 more than a 240, for the year.

Shop around as much as you can

Last edited by Djphonics; 06-09-2021 at 07:21 AM.. Reason: Additional info
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      06-09-2021, 08:21 AM   #13
Foggins
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We are planning on moving back to Canada in about 3 years and have been living in the US for about 15 years. Hearing crazy stories about how high our insurance premiums will be given the lack of history, and the clean US driving record means nothing. Better start saving my pennies now and hope for a good forex rate when we move back
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      06-11-2021, 08:15 AM   #14
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Quote:
Originally Posted by M2Cmtl View Post
Jesus insurance is expensive in Ontario...I will be paying 95$ per month when I get my M2C...or if (Covid...)
Quebec has a completely different no-fault system that makes it not comparable to Ontario.
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      07-20-2021, 08:25 PM   #15
dblm
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Quote:
Originally Posted by canadaeh89 View Post
Hey everyone,

Got two quotes from insurance company for a 2018 BMW M2 in Mississauga for around $200/month. Is this reasonable?

I was paying about $160/month for my M235i so just wondering if this is in the ballpark of what most ppl are getting. Or any insurance company recommendations?

Thanks
From what I understand in speaking with the Insurance agent, if you move to a new address your insurance premiums could change also. I was quoted $155/month for my M2C, then I moved to another postal code in the GTA last year, and it got bumped to $242/month. I have a clean driving history and haven't had a ticket in a very long time (and no accidents). Currently I'm paying $193/month after it was $242/month last year.
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