Auto Insurance Rates Stabilizing in Ontario
October 18, 2010
McGuinty Government Auto Insurance Reforms Helping Ontario Drivers
Ontario released figures that show average auto insurance rates decreased by almost 0.1 per cent, on average, in the third quarter of 2010. This marks the second consecutive quarterly reduction.
Ontario’s auto insurance reforms took effect on September 1, 2010. These changes are meant to stabilize the costs on claims by reducing excess assessment and transaction costs. This will ensure more accident benefit dollars go to treating victims and keep auto insurance accessible and affordable for Ontario families.
QUICK FACTS
- Average auto insurance rates decreased by a little more than one per cent, on average, in the second quarter of 2010.
- Under the McGuinty government, auto insurance rates are up less than five per cent since 2003. This is lower than the inflation rate for the same period of 12.5 per cent.
