Auto insurance rates jump 12 per cent in Ontario, fall in Quebec and Alberta.

[htc***]

April 13th 2010, THE CANADIAN PRESS

By comparison, rates in Quebec fell by 4.6 per cent and rates in Alberta dropped 1.6 per cent.

The quarterly review by online quote provider Kanetix says the numbers show rate increases that were approved last year are beginning to hit Ontario drivers.

The provincial government has been criticized for allowing insurers to raise rates two or three times in 12 months.

But the government has also announced changes to auto insurance that will kick in this summer, including a move that will allow drivers to buy reduced insurance coverage.

Lawyers and health-care providers have warned this could see accident victims forced to pay for their own care.


http://autos.sympatico.ca/automotive-news/3737/auto-insurance-rates-jump-12-per-cent-in-ontario-fall-in-quebec-and-alberta


Discussion : what do you think about reduce insurance coverage???

[sp3GT]

What does reduce insurance coverage mean? I dont think it does me any good since I always buy full coverage.

[mazdabetty]

Since when do we have to pay for health care in Canada? hahahah we'll be rejected now if we pay lower insurance rates? :loco doesn't make sense...

[SirWanker]

In Ontario, the insurance coverage is no-fault so it will be your own insurance company that pays for any claims. You will be responsible, at your discretion,for maintaining the existing level of coverage or opting for lower coverage.

[JashiK]

Since when do we have to pay for health care in Canada? hahahah we'll be rejected now if we pay lower insurance rates? :loco doesn't make sense...

i think they are referring to accident benefits i.e. in home care, physio, speech therapist and etc... will be reduced to buy reduced rate policies, but who knows. That's just my guess.

[mazdabetty]

Yeah I figured that too, but then nothing's changed then really... if you don't have full coverage now, you don't get the full benefits, correct? (Or do you? I have no idea..)

[JashiK]

for example you have the option of $1,000,000 or $2,000,000 liability coverage. One has a higher prem. than the other.
I'm guessing there will be different packages for Accident Benefits with different coverage limits for i.e. physio and other stuff, lower coverage limits = lower insurance prems.
now OHIP doesn't cover much for these types of services, so if you choose a lower pkg and run out of coverage, you'll end up paying out of pocket for services you need.

I'm purely guessing though. I have no clue what changes are to come for Ontario.

[Burner]

I'm planning on reducing my coverage on the car. My bike however, I'll keep the rich accident benefits.