Insurance review coming in Ontario.

[ZR]

TORONTO - The Ontario government is reviewing the province's auto insurance system in a bid to lower rates for drivers.
It says it will examine practices in other jurisdictions to find ways to make improvements and introduce more competition in the system.
The Progressive Conservative government also says it will consult with drivers, insurance companies and other stakeholders until Feb. 15 to find ways to lower rates.

A report commissioned by the previous Liberal government found in 2016 that Ontario had the most expensive auto insurance premiums in Canada despite also having one of the lowest levels of accidents and fatalities.
The Liberals had promised an average decrease of 15 per cent in insurance rates by August of 2015 and when that self-imposed deadline passed, then-premier Kathleen Wynne admitted it had been what she called a "stretch goal."
Finance Minister Vic Fedeli said the government will also create a regulatory framework that allows for modernization in the auto insurance sector.

[Blackmare]

And after an in depth analysis that costs us millions it will be found that we've in fact been paying too little and our rates will go up...Hope we actually see the decrease this time around.

[ZR]

They've certainly pissed away tons of dough looking into it in years gone by and yes hopefully some action this time.

[mavrrrick]

rates better go down...mine went up for buying a newer car!!!

[newbiestangowner]

I’ll believe it when I see it.
Who likes to see profit margins decrease?

Noooooobodyyyyyyy


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[RedSN]

And after an in depth analysis that costs us millions it will be found that we've in fact been paying too little and our rates will go up...

This is probably not far off the truth.

Private members' bills aim to end auto insurance postal code 'discrimination'. Both PCs and the NDP say they will introduce their own legislation (october 2018)

This "insurance review" will likely be used to level the playing field. So yes, most of us will likely see rate increases due to this rocking of the boat.

[Gr8Stang]

Could we also see a reduction in our vehicle plate renewals....PLEASE! With the waste of time/money E-test gone, I'm sure the renewal rate could be decreased.


I know, I know......I'm dreaming.

[G-ForceJunkie]

My rates are reasonable right now. If they end risk differentiation by postal code, I suspect I'll see a big jump in rates.

[True Blue]

Survey:

https://www.ontario.ca/form/survey-m...rdable-ontario

[Stephen06GT]

My rates are reasonable right now. If they end risk differentiation by postal code, I suspect I'll see a big jump in rates.

This.