ARTICLES

Auto Rates Still Slipping in Canada

Like political football, auto insurance can remain in storage for the Oct. 10 Ontario provincial elections. Rates have been relatively stable for months, and they have fallen substantially since the Liberal and Conservative parties last campaigned on promises to reduce premium costs, reports The Star. What is there to argue about? Well, not much. But the future could give surprises along the way. A clutch Canada could not even handle the shifts. "Ontario drivers have saved $4.5 billion since November 2003 from lower premiums as a direct result of changes to the (auto insurance) product," says Jane Voll, an economist with the Insurance Bureau of Canada. "The average premium per vehicle has dropped from $1,499 to $1,260 annually - a reduction of nearly 16 percent." Statistics Canada and the Financial Services Commission of Ontario each take a diverse methodology to calculating the cost of insurance than the IBC. Regardless of the methodology, however, the level of public anguish has sinked. The industry lobby group IBC merely takes total premiums accumulated and divides that by the number of insured autos. The computation discloses how much shoppers are spending. But not how much coverage they are purchasing. Statistics Canada attempts to do...
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Auto Insurance Quote: It's Possible To Save Money

Did you know that you can help save yourself some money by purchasing your home owner and auto insurance from the same insurance company? It s true! Sure, home owner insurance isn t usually required unless you have borrowed money in order to purchase your home and your lender requires you to have home owner insurance. For this reason, many people decide not to purchase home owner insurance. However, purchasing different insurance policies, such as a home owner insurance policy and an auto insurance policy, from the same company can usually help you obtain a multipolicy discount. In other words, you ll be able to save money! If you re in need of home owner insurance and feel that you are paying too much for your current auto insurance policy, or vice versa, ask your insurance agent about possible multipolicy discounts you can purchase. If your current insurance company does not offer any multipolicy discounts, consider looking elsewhere for a home owner auto insurance quote, such as online. Many insurance companies provide Web sites about the different kinds of multipolicy discounts they offer. Research these companies when you start looking for your home owner auto insurance quote. Talk to any...
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