| Insurance Type | Average Annual Cost (CAD) | What It Covers | Key Factors That Affect Cost |
| Auto Insurance | $1,300 – $2,200 | Liability, collision, comprehensive, accident benefits | Province, driving history, vehicle type, age, gender |
| Home Insurance | $800 – $1,400 | Fire, theft, liability, weather damage | Location, home value, size, materials, claim history |
| Tenant Insurance | $200 – $400 | Contents, personal liability, additional living expenses | Location, contents value, building security |
| Life Insurance (Term) | $300 – $800 | Death benefit payout during term period | Age, health, term length, smoking status, coverage amount |
| Life Insurance (Whole) | $1,500 – $4,000+ | Lifetime death benefit + investment component | Same as term + savings component |
| Health Insurance | $600 – $1,200 | Prescription drugs, dental, vision, extended health care | Age, province, employer coverage, existing health conditions |
| Critical Illness | $200 – $500 | Lump-sum payment upon diagnosis of serious illness (e.g., cancer, heart attack) | Age, health, coverage amount |
| Disability Insurance | $500 – $1,500 | Monthly income replacement in case of disability | Occupation, income, waiting period, benefit period |
| Travel Insurance | $50 – $300 (per trip) | Emergency medical, trip cancellation, baggage loss | Destination, trip length, age, existing conditions |
| Business Insurance | $500 – $5,000+ | Liability, commercial property, business interruption, cyber risk | Industry, business size, revenue, risk exposure |
| Pet Insurance | $500 – $1,000 | Veterinary bills, surgery, medication for pets | Type of pet, breed, age, health history |
Notes:
- Auto insurance rates are highest in Ontario and lowest in Quebec.
- Health insurance often supplements provincial health coverage (e.g., OHIP in Ontario).
- Life insurance is cheapest when purchased young and healthy.
- Some insurance types (like home or life) may offer multi-policy or group discounts.