Ontario Auto Insurance Rates The Highest in Canada

As you may already know, auto insurance is mandatory in Ontario. This means that anyone that operates a vehicle on a public road in the province will need to have at least a liability insurance policy that covers damage that could be done to other people or their property as a result of an accident. If you are looking for a professional then go to check online.

One of the biggest challenges that Ontario drivers face is finding affordable insurance for their car. There are 9 million drivers in the province, but they pay the highest car insurance rates in the country.

In March 2014, the provincial government has put in place various measures that would seek to reduce the cost of auto insurance in the province. Many of these measures are aimed at preventing insurance fraud, which is responsible for higher premiums for everybody, plus making sure that car insurance providers act fairly towards their policy holders.

Among the measures proposed by new legislation, the Ontario Dispute Resolution System will be transformed in an effort to help injured drivers resolve their claims faster. Furthermore, health service providers which bill auto insurers for services provided would need to be licensed by the province. This is a measure that would reduce the amount of fraud perpetrated by providers who offer treatments that weren’t necessary or that in some cases were never actually performed.

While car insurance rates in Ontario remain high, there has been some progress recently when it comes to reducing them. Rates have gone down by an average of 4.66 percent since August 2013 and many experts believe that they will slowly be going down in the next couple of years.

One thing that drivers in Ontario need to understand is that car insurance premiums aren’t only based on collective factors such as the province that they live in, but also individual factors. Basically, if a policy holder presents a higher risk of loss to the insurance company, they would be charged a higher premium.

Some factors that car insurance companies in Ontario are allowed to consider while setting prices include: the age, gender and marital status of the driver, the number of years they have been licensed to drive, the number of traffic citations and license suspensions received in the past 3 years, the number of at-fault accidents in the past 10 years and the type of vehicle driven.

Drivers in Ontario have several different insurance companies to choose from, so it would be easy for them to shop around by comparing quotes from various providers.