How much do Canadians really spend on insurance?


In a recent insurance study based on Canadian consumer experience, InsurEye found that an average Canadian consumer spends $3,100 annually on insurance. This amount is approximately the average monthly net income in Canada and 80% of consumers think this is too much!
But what does this number really mean? We thought it might be helpful for you to visualize it. To give you perspective, we’ve compared insurance expenses to our regular purchases and costs. 
Considering the fact that insurance quotes variance can be as high as 200% for some consumers, it might be time for you to compare your insurance spending with other people. You could save a lot of money for other important things in your life such as your hobbies, vacationing, etc. Check out our Insurance Price Comparison tool to find out how much you could potentially save on insurance. Also, do not forget to check out Insurance Consumer Experience tool for useful, independent consumer reviews next time you buy insurance!

  • Looking for a more affordable home insurance policy to stop overspending on insurance?
  • Get a home insurance policy for as little as $15/month: Compare these low rates to what you pay today
  • Protected against all major losses such as break-ins, hail storms, fires, sewer backup, water damage and many others
Get a free quote

Read more:

Canadians pay $840 average annually for home insurance
Top 6 issues Canadians have with their auto, home, and life insurance companies

What is the insurance price tag on a bad driving record?
Canadians spend average of $3,100 per year for insurance
4 main things you should know about life insurance in Canada



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Brilliant topic! I still impressed to read this post article.  Thanks.

Posted by Bob Shelly on Jul 4, 2012

Certainly an eye-opening article! Thanks for the information, really changes my perspective on things.

Posted by Julia Di Lena on Jun 25, 2012