Ontario’s Auto Insurance Rates are Increasing Up to 11% and Will Remain Among Highest in Canada
February 13, 2020, Kitchener, Ontario
Posted by: Robert Deutschmann, Personal Injury Lawyer
CBC Ratio-Canada reported late last week that although the Ford Government promised ‘transformative’ changes to Ontario’s auto insurance regime, the Financial Services Regulatory Authority of Ontario has approved increases to car insurance. Twenty insurance companies in Ontario were approved increases of 10% and 11%.
Ford’s promises of major reforms tabled with the 2019 budget didn’t specifically address lower premiums however they were targeting increasing the range of policy plans that drivers could chose from and making claims processes more streamlined. This move was intended to benefit drivers by creating more competition and hopefully lower premiums.
As I have highlighted in my Deutschmann Law Annual Insurance Survey, many drivers are not aware of how the claims process works and the deductibles and maximum payouts they are entitled to receive in the event of a car accident. Despite Ontario having one of the lowest auto accident and death rates in the country drivers here pay one of the highest premium rates in the nation. In fact the average premium in Ontario is almost double the lowest premium rates in the county.
Ontario has an average premium of $1,500 while Quebec has the lowest of $717 (Insurance Bureau of Canada figures). BE has the highest rates at just over $1,800.
Injured parties often find making claims very difficult with insurers denying many claims that are valid. They also find benefits like Income Replacement Benefit capped at rates approved decades ago, with deductibles on some settlements at nearly $40,000 which are indexed annually.
If you have been injured in a car accident call me. I will help you get the settlement you deserve and help you navigate the claims system. The last thing you need when you’ve been hurt in a car crash is to have to fight for benefits that you though you were paying for.
Call today for your free consultation 1 (866) 414-4878
|Posted under Accident Benefit News
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About Deutschmann Law
Deutschmann Law serves South-Western Ontario with offices in Kitchener-Waterloo, Cambridge, Woodstock, Brantford, Stratford and Ayr. The law practice of Robert Deutschmann focuses almost exclusively in personal injury and disability insurance matters. For more information, please visit www.deutschmannlaw.com or call us toll-free at 1-866-414-4878.
It is important that you review your accident benefit file with one of our experienced personal injury / car accident lawyers to ensure that you obtain access to all your benefits which include, but are limited to, things like physiotherapy, income replacement benefits, vocational retraining and home modifications.