Ontario Car Insurance Rate

Has your Ontario car insurance rate gone up this year? You're in good company. Many Ontario Auto insurance companies have really raised rates so lots of people are having the same experience.

If you had a claim, accident or lots of tickets you might expect your auto insurance rate to increase. But even if you didn't have any claims or traffic tickets your rates probably increased

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Why did Ontario Car insurance rates go up?

Premiums have increased primarily because of increased Accident Benefits claims. Accident Benefits includes payments for medical treatments and lost income after an accident. It seems that more and more people are claiming high levels of treatment and assessment after an accident. And as a result costs are mounting for the insurers to the point where claims paid are higher than premiums collected.

What can you do about your auto insurance rates?

It really does pay to shop around every few years, especially when rates have been increasing. Of course you should also review your coverage to ensure that you are not over insured and the policy is rated correctly (ie how far you commute and what the vehicle is used for). But in reality, the best strategy to find the best car insurance price is to shop around. One great, convenient way to do that is to get an online quote. You can do that here (there is no obligation for this quick and easy way to get quotes):

By: Kanetix Car Insurance

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Note: Keep in mind that insurance licensing, legislation, and policies often vary by province and most certainly by country. Canada Insurance Source is a free information source. So use this site to gain a general understanding of insurance with your own area and situation in mind. This insurance information is general in nature and the policy wordings always take precedence. It is possible that there are errors and omissions in this website and www.canada-insurance-source.com, or its authors, take no responsibility. Make sure you review the "please read" page.


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