Auto Insurance Ontario News

Toronto the ontario government is enabling auto insurance companies to provide temporary insurance premium rebates to drivers during the covid 19 pandemic. For more than two years now ontario auto insurance rates have increased every quarter.

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Reduction will be valid for a 12 month policy term and can be combined with other cost saving measures for needed relief during covid 19 pandemic.

Auto insurance ontario news. As reported by fsra in their quarterly publication auto insurance rates in ontario have been trending upwards for some time. Social sharing ontarios average cost of auto. Ontario auto insurance rates drop by less than 1 rates have decreased on average by around eight per cent since 2013 when the liberal government promised to cut rates by an average of 15 per.

The province has amended a regulation under the insurance act to help ease the financial pressure on working people and families during this public health crisis. Thornhill on april 9 2020 cnw caa insurance announced today that it will be offering a 10 per cent rate reduction for new and renewing home andor auto insurance policy holders. Auto insurance rates in ontario are increasing by as much as 11 per cent this year despite promises from the ford government to reduce premiums.

Ontarios approved auto insurance rate changes to 2020 since 2015. Ontario minister of finance rod phillips told reporters on thursday that he had spoken recently with representatives of the auto insurance industry to convey the message that the. The ontario government is amending a regulation under the insurance act to allow auto insurers to give premium rebates to policyholders for up to 12 months following the end of the emergency.

Last quarter approved rates increased on average 260. Caa insurance to provide 10 per cent rate reduction for new and renewing home and auto policies in ontario april 09 2020 press release. Some could apparently see an increase of up to 11.

Ontario is making a regulatory change that will more easily allow auto insurance companies to provide breaks to their customers because of the covid 19 pandemic.

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