Ontario auto insurance rates increase as report slams system
Auto insurance rates in Ontario rose in the first three months of 2017, putting the Liberal government further away from its already-missed goal of cutting rates by 15 per cent by August 2015.
Approved rates posted this week by the Financial Services Commission of Ontario show an average increase of 1.24 per cent.
In 2013, the Liberal government promised a 15-per-cent average cut, but after the self-imposed deadline came and went, Premier Kathleen Wynne admitted that was what she called a ``stretch goal.''
The new approved rates put the average cut since 2013 at a little over seven per cent.
A report by Ontario's auto insurance adviser quietly posted last week found that the province has the most expensive auto insurance premiums in Canada despite also having one of the lowest levels of accidents and fatalities.
David Marshall found that the average auto insurance premium in Ontario is $1,458, which is almost 55 per cent higher than the average of all other Canadian jurisdictions.
Larry talks to the Brock student about her experience.