It is without a doubt that insurance consumers in Canada (across every province) have seen dramatic price increases within the last year. These insurance price increases, have made the headlines in each and every province during this time.
In 2017 the Insurance Bureau of Canada compiled the annual cost consumers pay for car insurance. The most expensive province for car insurance is:
British Colombia $1680 followed by Ontario $1445. The cheapest province to buy insurance is Quebec $661.
Why will insurance prices continue to rise in Ontario?
In previous years when insurance prices have increased, provincial governments have come up with band aid solutions. For example in Ontario in 2016 Auto Reform accident benefit coverages were reduced leaving consumers with potential gaps in coverage. Since then, the prices in Ontario have continued to increase but consumers still have the gaps in coverage unless they paid extra for it.
If you are looking to save more on your car insurance in Ontario, give us a call at 1-877-941-2266 today. A licensed broker can help you navigate the potential for savings without jeopardizing car insurance coverages.