Where you live says a lot about your lifestyle
What does your postal code say about you? A lot – really!
Environics Analytics, a marketing and analytical company, recently spent more than a year creating profiles and assigning them to Canada’s postal codes. It all began with information obtained from a major census in 2011 and a National Household Survey. The results profile your neighbourhood. Admittedly, it may not describe you perfectly, but it is a general look at the area you live in including the lifestyle, income, demographic and more of those living in your area.
Previous versions of this type of marketing analysis were complied in 2001 and again in 2006. A comparison of the results outlines noticeable shifts in the Canadian population. Changes such as the number of older families staying in suburban areas rather than downsizing, as well, older children are moving back home after moving out or completing their education.
Some of the segments include Vielle Ecole (Old School) found in ex-urban towns across Quebec, South Asian Achievers, which is a fast-growing segment of family-filled households in new suburban subdivisions, and Street Scenes, neighbourhoods consisting of many younger singles on the fringes of the downtown core.
Many of the postal codes in and around the Belleville area, for example, fall under the segment name of Lunch at Tim’s – Urban, downscale singles and families.
This neighbourhood is described as a dense industrial area, scattered across second-tier cities. This group consists of many singles and solo-parent families living in older single-detached homes, with some semis and duplexes. They are a tight-knit community, enjoying social meetings at local coffee shops like Tim Horton’s. They are unusually mixed in age and half of the adults in this neighbourhood are unattached. More than two-thirds own their home. They enjoy quieter past-times, but, when the mood strikes, they may venture off to the casino for a day of gambling.
Source: Canadian Geographic
Postal codes also play a big factor in home and car insurance. Insurance companies know, down to a three digit postal code, the potential for water claims based on such factors as weather, but also aging infrastructure. For auto insurance, companies know down to three digits who is most likely to have accidents or fraudulent claims. Some residents of suburban Toronto, who pay the highest car insurance rates in Toronto, feel this is unfair. However, the insurance companies are confident in the data your postal code provides.
Regardless of your postal code, we can provide the best rates for home and car insurance, no matter where you live. Call one of our brokers at 1-800-361-0941 to get the best rates.