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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Bad Credit Auto Insurance - How To Get the Best Rates

Having bad credit doesn't make you a bad driver, but it will raise your auto insurance rates. Here's how to get a cheap rate on bad credit auto insurance. Bad Credit Auto Insurance As strange as it may sound, your credit rating directly affects your auto insurance rating with some companies. Auto insurance companies have figured out that people with bad credit file 40% more claims than people with good credit. If you have bad credit your insurance could cost you 20% to 50% more in insurance premiums than someone with good credit. The good news is not all insurance companies use your credit rating as a factor in determining your insurance rating, and some states won't allow insurance companies to use it. So if you've been labeled as a bad credit risk, or suspect you may be, you should shop around for auto insurance with other companies. There are websites where you can get auto insurance rates from a number of A-rated companies, and also get advice from insurance professionals, absoluelty free of charge. All you do is fill out a simple questionnaire about the type of car you own and the type of insurance you want, wait for...
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