For drivers in Ontario, Canada, the price of insurance has become a source of consternation. This has caused many citizens to start shopping around for quotes.
This means just about everybody in the Province because drivers are all unfortunately in the same boat. The reason behind this problem is that fact that the Financial Insurance Services Commission of Ontario (FSCO) agreed to another hike in the price of insurance. This means that effectively everybody who drives a car in Ontario will see an increase in their rates.
Depending on the provider, quotes for coverage may be slightly or a whole lot more as compared to years’ past. This has increased every year since 2008 when the first round of rate increases went into effect. Close to 50% of the insurance buying public in this province has experienced a change in their quoted rate.
Unfortunately the higher price affects everybody by an average of between 2 and 3%, and that is with a good record. According to the government though, insurance rates in Ontario have been lagging for a number of years and an increase was due for a long time.
Since the first quarter of 2008, insurance rates for Ontario have been on the rise. This has affected every new and pre-existing policy to approximately the same extent depending on the driving record.
Most people will probably be looking at an increase somewhere north of 2.5%. These increases are dependant on a number of factors based on the driver, and include the kind of vehicle that is being used, the address of the citizen and the previous driving record. The good news for drivers is that FSCO is promising that these rates changes will be reasonable for each case. By ensuring that the rates being charged by insurers are fair and balanced, the ability to hold down claims costs can be easily met.
There are a number of items that drivers need to provide to an insurer to can help to pare down their premium.
And there are some great tips that consumers can also use to help save them money on their quote.
Although Ontario auto insurance quotes have been increasing for the last two years, by following some of the above guidelines, consumers can help to hold down costs for their premium amount. While this doesn’t make the process of forking over this amount any easier, saving at least some money on this type of expense has to be worthwhile.