Will location-based auto insurance pricing be disposed of now that Doug Ford is premier

by | Aug 1, 2018 | Auto Insurance

Although the topic was not addressed by the premier himself nor was auto insurance mentioned in the Plan for the people, it was an issue the PC party spoke about. As it stands, drivers in urban areas usually pay more for their auto insurance than drivers in rural ones. High population areas, where there are more drivers on the road, typically experience higher claims, as a result, higher rates are faced as well.

Before Ford was elected as leader of the PC party, the party touched on the topic of ending auto insurance pricing that takes into account your address. In order to keep premiums affordable to Ontarians, the party stated that location-based auto insurance pricing would be eliminated. Not officially part of the party’s platform leading up to the election, there is still a possibility that this issue will be called on again as auto insurance premiums in the province have risen. The truth is that Ontario drivers pay the most for their auto insurance coverage compared to the rest of Canada.

Auto Insurance Price Index charts (CNW Group)

With nearly 10 million drivers in Ontario and FSCO releasing the Q2 2018 approved rate changes, Ford will have to grapple with the topic of auto insurance sooner than anticipated.

It is unclear if Premier Ford has planned for the future of auto insurance, in the meantime if you’d like more information on what you can do NOW to save on auto insurance don’t hesitate to contact us to learn about your options.

 

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