Ontario auto insurance is the most expensive program in the country and the most complex so it seems to be always in the spotlight, whether with consumers, lobbyists, politicians and especially our own family members when sitting down having dinner.
It is mandatory to have liability insurance on your vehicle at all times, so it is often referred to as a grudge purchase and we completely understand why that would be the case
The majority of premiums, or 74% collected go towards paying for injuries and damage to the vehicle; As health care costs continue to rise as well as the cost to repair newer vehicles, we expect this figure to continue to climb going forward
Risk characteristics that impact rating are:
Stay tuned for further updates on the automobile landscape, including autonomous vehicles and ride sharing and how this could change the landscape over the next 5 years!
We know that auto insurance premiums are one of your largest household expenses, which is why we continually shop our clients’ premiums to ensure that they are not over paying for their auto insurance. Call us for a free comparison of insurance quotes: 905-452-5127