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Auto insurance ontario news. Ontarios approved auto insurance rate changes to 2020 since 2015. Toronto the ontario government is enabling auto insurance companies to provide temporary insurance premium rebates to drivers during the covid 19 pandemic. 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. Social sharing ontarios average cost of auto.
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. As reported by fsra in their quarterly publication auto insurance rates in ontario have been trending upwards for some time. 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. 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.
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. 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. 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. Some could apparently see an increase of up to 11.
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