A Year of Rate Hikes: Ontario Car Insurance Rates Have Increased Again Jan 15th

All about Canadian insurance. Learn the ins and outs and get the latest news.
Latest News

Should I invest my money or buy a life insurance policy instead? + MORE Feb 8th

Q: My wife and I are both 40 and have two kids—ages 5 and 7. We are considering buying a joint last-to-die life insurance policy that would cost a fixed $7,105 per year for ten years. That’s a total of $71,050 and the policy would pay $500,000 when the last of us dies. This is a proposition.... More »

What’s my RRSP contribution limit? Feb 12th

If you’re like many Canadians, you’re hoping you’ve paid enough tax in 2018 and may even be looking forward to a hefty tax refund. You can help ensure that happens by knowing the details of your Registered Retirement Savings Plan (RRSP), what sets them apart, your cont.... More »
A Year of Rate Hikes: Ontario Car Insurance Rates Have Increased Again
Here at RateSupermaket.ca, we keep you in the loop of different ways to save, whether it be on your mortgage, through investments, or on your car insurance. The Financial Services Commission of Ontario (FSCO) has reported that Ontario car insurance rates have increased by 3.35 per cent on average.
Car insurance rates fluctuate based on a number of different factors. However, before an insurance company can change rates, it must first be approved by the Financial Services Commission of Ontario (a regulatory agency of the Ministry of Finance).
FSCO publishes approved rate changes quarterly, and the latest results are in:
In the fourth quarter of 2018, approved rates from auto insurance companies increased by 3.35 per cent on average.
The list of approved rates seemed to be wide-ranging, seeing as this time around, some companies were approved for an increase of just 1.65 per cent, while another company inflated its rates by 34.87 per cent.
“Consumers are urged to shop around for auto insurance,” FSCO said in its quarterly statement…

Continue Reading On ratesupermarket.ca »

Share

PinIt
Compare insurance quotes through Kanetix.ca - save time and money!