METHODOLOGY · MODEL VERSION SEPTEMBER 2026
How the estimate is calculated
This model helps with rough budgeting. It is not trained on insurer quotes and has not been validated against a representative Canadian premium dataset.
The calculation
We start with a monthly editorial reference value of $165 for car insurance or $155 for a detached home. We multiply that value by the factors below, then show roughly 68% to 145% of the resulting centre value, rounded to the nearest $5. The annual display is 12 times the two monthly endpoints.
| Input | Illustrative factors |
|---|---|
| Province or territory | Québec 0.78; Ontario 1.15; British Columbia 1.08; Alberta 1.10; Manitoba 0.95; Saskatchewan 0.94; Nova Scotia 1.02; New Brunswick 0.97; PEI 0.95; Newfoundland and Labrador 1.04; Yukon 1.11; NWT 1.19; Nunavut 1.25 |
| Vehicle category | Compact 0.90; sedan 1.00; SUV 1.14; pickup 1.20; luxury 1.62; EV 1.32 |
| Car age | 0–4 years 1.13; 5–10 years 1.00; 11+ years 0.88 |
| Driver experience | 5+ years 1.00; 2–4 years 1.27; under 2 years 1.66 |
| Car coverage and use | Basic liability 0.72; liability + collision + comprehensive 1.00; paid driving checkbox ×1.35 |
| Property category | Detached 1.00; townhome 0.83; condo unit 0.49; tenant 0.24 |
| Value band | Under $350k 0.78; $350k–$750k 1.00; over $750k 1.45 |
| Claims in 5 years | None 1.00; one 1.22; two or more 1.55 |
What these numbers mean
All reference values and factors above are editorial assumptions for demonstrating how different choices affect a hypothetical budget. They are not measured provincial averages, a filed rate, vehicle-specific claims data, an insurer quote, or advice to buy a policy. The province factors in particular should not be interpreted as a ranking of real insurance prices.
Known limits
The model does not ask for postal code, exact vehicle model, driver age, annual kilometres, driving convictions, deductible, property construction, flood exposure, detailed coverage or insurer. Public and private auto insurance components differ by province. Québec’s public bodily injury plan is not calculated. Rideshare and commercial coverage cannot be confirmed by this estimate.
What to do next
Request quotes from licensed providers using the same coverage and deductible, then check policy wording. For background reading, see IBC’s auto rate factors, IBC’s home rate factors, and our guides.