Insurance Renewal Increase Calculator Canada
Compare your previous and renewal insurance premiums, include separate fees, and see the annual dollar change, percentage change and monthly budget equivalent.
Compare two twelve-month policy costs
Use the previous annual policy and the proposed annual renewal on the same tax basis. Enter premiums after discounts. Check changes in coverage separately; the calculation cannot value them.
Change in the entered annual total
Enter both annual premiums to calculate the change. Optional charges can be added when known.
Each annual total = premium + separate charges. Change = renewal total − previous total. Percentage change = change ÷ previous total × 100; the premium-only percentage uses the previous premium instead.
This arithmetic does not explain the insurer’s pricing, establish equivalent protection, predict another quote or recommend whether to renew. It does not calculate taxes, cancellation costs or future renewals.
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How to calculate your insurance renewal increase
- Take the full annual premium from each policy document. If a policy lasts six months, do not compare it directly with a twelve-month amount; use the quote comparison tool for equal shorter terms.
- Use a consistent treatment of taxes. The tool does not add tax automatically. If a premium already contains a charge, do not enter that charge again.
- Total any separately charged amounts for each year. Compare actual payment schedules if the number or size of instalments changed.
- Read the dollar and percentage changes together, then review the differences in the insurance itself. A lower total does not establish that the same risks are covered.
Each annual total = premium + separate charges. Change = renewal total − previous total. Percentage change = change ÷ previous total × 100; the premium-only percentage uses the previous premium instead.
Worked example: a 15% premium increase is not a 15% total increase
The previous premium is $2,400 with $60 in separate charges. The renewal premium is $2,760 with $120 in charges. All amounts are illustrative CAD figures.
| Part of the comparison | Amount or change |
|---|---|
| Previous total: $2,400 + $60 | $2,460.00 |
| Renewal total: $2,760 + $120 | $2,880.00 |
| Premium change | +$360.00 / +15.00% |
| Separate-charge change | +$60.00 |
| Total annual change | +$420.00 / +17.07% |
| Monthly budget equivalent: $420 ÷ 12 | +$35.00 |
The extra $60 in charges adds to the premium increase. The two percentages use different starting amounts: $2,400 for the premium and $2,460 for the total.
Questions to take to your renewal review
- Which limits, deductibles, exclusions or optional protections changed between the two documents?
- Do the documents describe the same vehicle use, property, belongings or business operations? Which details need updating?
- Which discounts and separate charges apply in the renewal, and are any charges already included in the premium?
- What is the complete payment schedule, including the first payment and all remaining instalments?
A price change does not identify its cause
The Financial Consumer Agency of Canada explains that premiums may change over time and can depend on factors including the insured goods, coverage, deductible and claims history. Ask the provider to explain the changes in your own documents. This worksheet measures their price difference; it does not diagnose the cause.
Financial Consumer Agency of Canada — How insurance works →Renewal calculation questions
Can the result show a decrease?
Yes. Renewal minus previous can be positive, negative or zero. The same formula measures an increase, decrease or unchanged cost.
Can I enter a monthly bill?
No. These fields require full twelve-month premiums. A monthly bill multiplied by 12 may miss a different first payment or fees. Use the payment calculator to total an actual schedule.
Why do the two percentage changes differ?
The premium percentage compares premiums alone. The total percentage includes the separate charges entered for each year. Each uses its own previous amount as the denominator.
What if the previous amount is zero?
The dollar change remains available, but its percentage is not defined when the corresponding previous amount is zero. A blank required premium is not treated as zero.
Source and calculation method
The source supports the insurance context. The arithmetic and the invented example are explained on this page; no market-average premium or insurer rate feed is used.
Calculator checked October 8, 2026. Insurance source checked October 6, 2026.