REPORT: YOUR AUTO INSURANCE PREMIUM IS ON THE RISE
Feb 10, 2020
By Bob Komsic
You and your wallet.
Auto insurance rates in the province are reportedly going up as the Financial Services Regulatory Authority is said to have given some 20 insurance companies the green light to increase premiums by around 10% to just over 11%.
Ontario has the second highest average cost of auto insurance; $1,505-a-year, despite having one of the lowest collision and death rates in the country, according to the Insurance Bureau of Canada.
The Ford government promised major reform of the auto insurance system in its first budget last April.