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Rates

2026 Canadian insurance rate trends

Premiums compared across age, city and province

Canadian insurance premiums rose across the board in 2026, but the increases were anything but even — province, age and city moved in very different directions.

Term life: age vs. monthly premium

$500k · 20-year term · male non-smoker

25 yrs$25.5830 yrs$26.4235 yrs$28.0840 yrs$40.5845 yrs$63.0850 yrs$107.2555 yrs$187.25

Auto: annual premiums by province

QC
$920
MB
$1,220
SK
$1,865
AB
$1,800
BC
$1,966
ON
$1,960

Home: annual premiums across BC cities

Vancouver

1. Auto: the province gap is widening

Alberta saw the steepest auto increase at +21.3%, Ontario +11.8%. Higher repair costs, parts inflation and accident frequency are pushing rates up faster than premiums can adjust.

Quebec remains the cheapest market thanks to its government no-fault system, while Ontario drivers continue paying the highest absolute premiums.

📊 AB +21.3%, ON +11.8%, Atlantic +9.6%, QC +4% (2026).

2. Life: age is the whole story

Term life pricing is a smooth curve driven almost entirely by age, sex and smoking. The cost of $500k T20 roughly doubles between 30 and 50 — waiting is expensive.

Women pay less for life (longer life expectancy) but more for critical illness (higher cancer incidence) — the two curves cross, which surprises most shoppers.

3. Home: BC cities differ by hundreds

Within BC, average home premiums vary by hundreds of dollars between Vancouver, Surrey, Victoria and interior cities — driven by rebuild costs, fire protection and weather risk at the postal-code level.

Our charts are generated live from the rate engine and open property data, so the comparisons stay current as rate tables update.

FAQ

Which province is cheapest for auto insurance?+

Quebec is consistently cheapest thanks to its government no-fault system; Manitoba and Saskatchewan are also below the national average.

Is 2026 a good time to buy life insurance?+

Yes — life rates are still low by historical standards, and they only increase with age. Every year of delay locks in a higher premium.

Get my accurate quote →
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$1,988
Surrey
$4,900
Victoria
$1,152
Abbotsford
$2,450
Burnaby
$906
Richmond
$2,450
Coquitlam
$906
Langley
$2,450
North Vancouver
$1,988
New Westminster
$1,590
Kelowna
$1,152
Maple Ridge
$1,590
Kamloops
$1,590
Nanaimo
$1,590
Prince George
$1,440
Penticton
$1,440
Saanich
$1,590
West Vancouver
$3,675
Toronto
$1,755
Brampton
$1,404
Vaughan
$1,755
Markham
$1,755
Richmond Hill
$1,755
Ottawa
$1,404
Hamilton
$1,270
London
$1,270
Kitchener
$1,270
Waterloo
$1,270
Windsor
$1,270
Oshawa
$1,016
Barrie
$1,016
Kingston
$1,270
Guelph
$1,016
Sudbury
$1,016
Calgary
$1,823
Edmonton
$1,320
Red Deer
$1,056
Lethbridge
$1,056
Medicine Hat
$1,056
Grande Prairie
$1,320
Fort McMurray
$1,056
Airdrie
$1,320
St. Albert
$1,320
Sherwood Park
$1,320
Banff
$1,458
Saskatoon
$1,260
Regina
$1,008
Prince Albert
$1,008
Moose Jaw
$1,008
Swift Current
$795
Yorkton
$795
Winnipeg
$1,344
Brandon
$976
Thompson
$976
Steinbach
$976
Portage la Prairie
$768
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