No, it’s not your imagination: your auto insurance rates have been creeping up. And you’re not alone. It’s happening across the country, albeit for different reasons in some regions than others.
J.D. Power’s 2019 Canada Auto Insurance Satisfaction Study says that the national average increase for insurance rates currently sits at $298. Alberta has had the highest spike in costs at $326, followed by Ontario at $311, Atlantic Canada at $286, and Quebec at $213.
As a result, quite understandably, the survey shows that Canadians are increasingly dissatisfied with insurance companies and the products they offer.
“What we found is that price, while it’s always been a part of our surveying process, really was called out by customers this year as having a major influence on their overall satisfaction,” says Tom Super, Director of the Insurance Practice at J.D. Power, who led the study. “We’re finding that customer satisfaction related to price is being impacted by two major factors. One is the frequency of rate actions. Every time you open up your bill, you find that your rate has gone up once again. The second is the severity of the increase taken.”