Ontario Auto Insurance

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Ontario Auto Insurance Overview

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Ontario has a notoriously high auto insurance rate and many Ontario residents question if there is actually a way to save on their auto coverage. Of course, there are many ways to save on your coverage but none is more effective than comparing quotes before purchasing.

In fact, it is recommended that you compare Ontario auto insurance quotes from at least three companies before you purchase a policy. However, you can contact insurdinary.ca for a more effective and effective quote comparison. When you contact insurdinary.ca, we will connect you to insurance advisors in Ontario who will guide you to choose the most affordable coverage.

Our insurance advisors have helped Ontarians to save hundreds of dollars on auto insurance. Furthermore, the advisors compare insurance quotes in the same amount of time it will take you to get a single policy. You definitely want to save but at the same time, you want to spend time with your family or focus on what truly matters to you. We can help you make it all possible.

To compare insurance rates click here.

Ontario Auto Insurance Details

Factors that affects Auto Insurance rates in Ontario

Auto insurance companies in Ontario consider a plethora of factors to determine the amount you pay on auto insurance. Your insurance rates are determined by the following factors or variables.

  • Your driving record and experience.
  • Your gender and age.
  • Where you drive your vehicle.
  • How you use your vehicle.
  • The type of vehicle you drive, and
  • The amount of coverage you need.

To compare insurance rate, click here.

Ontario Auto Insurance News

After Ontario Government revealed in its Fail Economic Statement that it will look into reforming auto insurance regulation in the province, it appears that the situation is favoring auto insurers.

Related legislation includes ending the rate discrimination based on the drivers’ addresses and also a review of the rate regulation system in the province carried out by the Financial Services Regulatory Authority of Ontario. The government’s statement also includes the promotion of innovation in auto insurance via a regulatory framework that would make usage-based insurance, electronic proofs of insurance, and full electronic commerce viable.

Donna Ince, SVP of personal insurance for RSA Canada told Insurance Business that the proposed changes will address the escalating costs and low profitability on the product. But insurers can still make rate changes.

She said that a significant amount of work needs to be done so as to get regulators comfortable with the rate change. She added that there is a restriction around the amount of rate you can take and also there is currently a lot of controversy about whether you can rate based on territory because it has become politically sensitive. Furthermore, another driver of rising auto insurance costs is technology especially as technology is becoming an integral part of most vehicles.

To learn more about Ontario auto insurance news click here.

Ontario Auto Insurance FAQ

Will Ontario Auto Insurance rates go down anytime soon?

What is the minimum requirement for Ontario Auto Insurance?

Why is auto insurance so expensive in Ontario?

Which Ontario auto insurance company has the best rate?

How much is average car insurance in Ontario?

What do I need to get a car insurance quote?

Do you require car insurance to legally drive in Ontario?

Average Auto Insurance Rates By Province

Description
Rate
British Columbia
$1,680
Ontario
$1,445
Alberta
$1,251
Newfoundland and Labrador
$1,132
Manitoba
$1,080
Northwest Territories
$978
Nunavut
$963
Saskatchewan
$936
Nova Scotia
$842
New Brunswick
$819
Yukon
$812
Prince Edward Island
$796
Quebec
$661

Ontario Auto Insurance Rate Changes

Description
Rate
2018 Q4 (Oct.1 – Dec. 31)
+3.35%
2018 Q3 (Jul. 1 – Sep. 30)
+2.06%
2018 Q2 (Apr. 1 – Jun. 30)
+1.1%
218 Q1 (Jan. 1 – Mar. 31)
+2.23%
2017 Q4 (Oct.1 – Dec. 31)
+1.03%
2017 Q3 (Jul. 1 – Sep. 30)
-0.1%
2017 Q2 (Apr. 1 – Jun. 30)
+0.76%
2017 Q1 (Jan. 1 – Mar. 31)
+1.24%
2016 Q4 (Oct.1 – Dec. 31)
-0.14%
2016 Q3 (Jul. 1 – Sep. 30)
+1.50%
2016 Q2 (Apr. 1 – Jun. 30)
+0.33%
2017 Q1 (Jan. 1 – Mar. 31)
-3.07%
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