Time To Shop Around for Car Insurance Rates: Liberals Revive 15% Discount Plan Jul 18th

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Great news for responsible drivers: after being shelved during the June Ontario provincial election, the Liberals have given new life to a plan to slash auto insurance premiums by an average of 15 per cent.
The Auto Insurance Cost and Rate Reduction Strategy mandates the discount must be implemented by providers as of August 2015. The Liberals announced the revivement of the bill Tuesday, expressing confidence that it would be in place by the proposed deadline, despite only a third of price cuts (an average of 5.44 per cent) rolled out since the bill was announced last September. As well, they have admitted a previous deadline to implement an average 8 per cent cut by this August will not be achieved.
It is estimated that a 15 per cent reduction in premiums would save the average driver $225.
A Great Time to Shop Around
About a dozen companies have already slashed rates by 10 per cent or more since the bill was introduced, and Ontario Finance Minister Charles Souza is confident more will follow as the mandated deadline approaches and competition ramps up among the industry…

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