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Hello,

Thank you for sharing your situation and question with us.

You can find some detailed information in our Settlement.Org Understanding Automobile Insurance resource. This resource is from The Financial Services Commission of Ontario.

I hope this information is helpful. Please let us know if you have further questions and if there is any follow up to your question/situation.

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Anna
Settlement.Org Content and Information/Referral Specialist, CIRS
Settlement.Org

Hi HValencia789,

I had the very same problem when I first landed in Canada. As a foreign national, you are considered a new driver, as if you never had car insurance before. Depending on the neighborhood you live in this can easily result in insurance rates greater than $5000/year.
If public transport is not an option for you, I can only recommend to be careful to never ever get a ticket other than a parking ticket. It will stay on your record for three years and it will affect (i.e. increase) your insurance premiums significantly.

I was not aware that the insurance premiums increase whenever you get a ticket, and now I'm looking at extra costs of about $1000 just for one speeding ticket. The ticket itself wasn't all that expensive, but the increased insurance premiums really hurt. Which in turn enhances the safety on the street, because I'm for one will never again go faster than I'm allowed to.
But anyway, the premiums are ridiculously high in Toronto. All you can do is move to a less populated area, this can easily save you a few thousand Dollar each year until you have built an insurance record.

I hope this helps
Klaus

Hi there,

Please try to get a quote from a good broker at the time of your renewal. Adding house insurance, multiple vehicles, using winter tires coupled with an online quote will help by way of discounts. If one is a professional, one can try for a group rate through professional associations.They offer cheaper quotes. Much depends on the driving record and claims history as well. Good luck!

Navtej

Hi HValencia789,

I had the very same problem when I first landed in Canada. As a foreign national, you are considered a new driver, as if you never had car insurance before. Depending on the neighborhood you live in this can easily result in insurance rates greater than $5000/year.
If public transport is not an option for you, I can only recommend to be careful to never ever get a ticket other than a parking ticket. It will stay on your record for three years and it will affect (i.e. increase) your insurance premiums significantly.

I was not aware that the insurance premiums increase whenever you get a ticket, and now I'm looking at extra costs of about $1000 just for one speeding ticket. The ticket itself wasn't all that expensive, but the increased insurance premiums really hurt. Which in turn enhances the safety on the street, because I'm for one will never again go faster than I'm allowed to.
But anyway, the premiums are ridiculously high in Toronto. All you can do is move to a less populated area, this can easily save you a few thousand Dollar each year until you have built an insurance record.

I hope this helps
Klaus

Wow up to $5000 per year this is so much Klaus. Yes I may look into taking public transit. I hear the transit system here is pretty quick to communte around the city. Learning the system though is a whole other story. Thanks for this advice, I am looking into quotes now and will compare these to TTC annual cost before I make any quick decisions.

CB