LowestRates.ca, a comparison site for car insurance rates, investigated what factors are truly impacting car insurance rates in Ontario. The company’s data revealed, over the past year, a significant 9 per cent drop in the average insurance rate with an average premium of $2,353/year dropping to $2,154/year when Ontarians shopped around for a rate. To gain a better understanding of what affects drivers’ insurance rates, the company looked at numerous factors that play a role in rising or lowering individual rates.