[Marksquared]

I'm also in Ontario and I would never accept a 47% increase. Now rates are affected by many factors such as license class/age/past tickets and accidents.
One thing I've noticed is that when you buy the car out right the rate always seems to be lower then if you finance it.
Now they are even taking your credit score into account to give you a rate.
In Ontario I would suggest doing an online quote with insurance hotline it will give you 10 quotes and takes about 5 mins to complete

I have a brand new 2022 RAV4 Hybrid fully loaded and added full replacement value for 5 years and I pay $980 a year
if you have a clean driving record and no accidents you should not pay more then $1200 for any Toyota car in Ontario
Now if you are young and have tickets and accidents then its a free for all. They can charge you anything they want.
Co- workers of mine pays $457 per month for a 2020 F150 truck. He's crazy for paying it but he wants to drive so he pays.

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