Your insurance rate is calculated using a number of variables that predict your personal level of risk. The variables include:
RATING CLASS: Based off driving experience and how much you use your vehicle.
ACCIDENT AND CONVICTION RECORD: Having a history of reckless driving leads to higher insurance premiums.
COVERAGE: Depends on policy type (deductibles, optional extensions, limits, etc.)
VEHICLE TYPE: Calculated by the make and model of the car, safety features, etc.
RATING TERRITORY: Based on the address and area of operation of the vehicle. There are 55 geographical rating territories in Ontario, 10 of which are in the Greater Toronto Area. Why 55? Because FSCO mandates a maximum of 55 different regions.