Field survey · A broker tells us
I compared my premium with 7 insurers — here’s the $408 difference that surprised me
Profile: 38 years old, Thetford Mines, 2022 Honda CR-V, good record. Here’s what ads never show you.
Last week, a customer — let’s call him Marc, 38, a resident of Thetford Mines, driver of a 2022 Honda CR-V, no claims in 12 years — asked me if he was paying “the right price” for his car insurance. His current policy: $1,385/year with a major direct insurer. He thought he already had the best rate. I decided to do the full test, with the 7 main markets that I can query as an AMF licensed broker. Here’s what I found.
The profile tested (identical for the 7)
- Driver — 38 years old, 20 years licensed, own record (0 complaints, 0 points)
- Vehicle — 2022 Honda CR-V EX-L, ANNUAL MILEAGE 18,000 km
- Address — Thetford Mines, private garage parking at night
- Use — commuting 25 km, leisure at weekends
- Deductible Requested — $500 Collision / $500 Comprehensive
- Coverage — $2 million liability, collision, comprehensive, endorsements FAQ 27 + replacement cost
The results — 7 insurers, 7 different premiums
| Rank | Insurer (type) | Annual premium | Spread vs cheapest |
|---|---|---|---|
| 🏆1 | Insurer A (mutual) | $1,187 | — |
| 2 | Belayer B (Large Traditional) | $1,245 | + $58 |
| 3 | Insurer C (direct) | $1,322 | $135 |
| 4 | Underwriter D (telematics) | $1,385 | + $198 |
| 5 | Insurer E (bancassurance) | $1,442 | + $255 |
| 6 | Insurer F (Regional Specialist) | $1,511 | + $324 |
| 7 | Belayer G (Traditional) | $1,595 | + $408 |
Average prices observed in July 2026 for this specific profile. The names of insurers are voluntarily anonymized to respect commercial agreements with our partners.
The 3 surprises of the test
Marc was in the middle of the painting
He was paying $1,385/year — almost exactly the median. He wasn’t in a bad place, but he left $198 on the table a year. Over 5 years: $990.
The live broadcasts were not the cheapest
Contrary to their reputation, direct insurers came in 3rd and 4th place — not first. The mutual insurance company and a traditional one beat them on this profile.
An identical profile = 30% difference
There is no logical reason to justify a difference of $408 for the same file. It’s each insurer’s own pricing strategy that creates the opportunity — and shopping around is the only way to capture those gaps.
What ads never tell you
⚠️ The myth of the “best insurer”
No insurer is the cheapest for all profiles. No. 1 for Marc can be No. 5 for you — depending on your age, your city, your vehicle, your history. It is mathematically impossible for a single insurer to win each time. Hence the interest in multi-market shopping at each renewal.
How much you can save by stacking strategies
Of the last 500 comparisons made by our brokers in 2026, here is the breakdown of the average annual savings by combined strategies:
- Switching insurers only : average savings $340
- + Car + Home Bundle : +$150
- + Deductible $1,000 instead of $500 : +$110
- + Immobilizer or telematics : +$180
- + Declared winter tires : +$90
Typical cumulative annual savings: up to $870
A test available everywhere in Quebec
The same exercise works for any Quebec profile. Our brokers recently did this test for clients in Quebec City, Lévis, Trois-Rivières, Sherbrooke, Chicoutimi, Gatineau, Rimouski and Saint-Georges — each time with significant differences between the cheapest and the most expensive.
Frequently asked questions
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