Ontario auto insurance taking a jump
By Tim Herd | KitchenerToday
Ontario has some of the highest auto insurance rates in the country. The province is second to British Columbia, and now rates are set to climb even higher. Drivers could face up to an 11 per cent increase.
Rob Deutschmann, Personal Injury Lawyer, Deutschmann Law was on the Mike Farwell Show on 570 NEWS on Thursday.
He said it’s not the same across the board. “1.6 per cent for the most part, but there are a couple of companies that had to have excessively higher rates.”
The increase in rates has started a debate between public and private insurance. BC already has public auto insurance. Deutschmann said Ontario should not follow suit because BC is seeing significant cuts, and has the most expensive auto insurance in the country.
Deutschmann added one of the issues with this increase is that the Insurance Board of Canada (IBC) and the industry have most of the control, and keeps the Ontario government out of the loop.
In Ontario, accidents and death rates are low and benefits continue to get slashed. “Since 2010 we’ve had significant cuts to accident benefits in Ontario,” says Deutschmann. A decade later he says roughly 70-80 per cent of auto accident victims in Ontario only have access to $3,500 in accident benefits.