Car Insurance Rates On The RiseUncategorizedAugust 9, 2017If you were looking at buying a new car this year, you may want to check twice and consider the additional expenses that come with purchasing or leasing the car. Recently approved car insurance rates posted by the Financial Services Commission of Ontario shows an average increase of 0.76 per cent. During the last quarter, the rates went up by an average of 1.24 per cent. According to a report by David Marshall, the Ontario government’s advisor on auto insurance, the province has the most expensive auto insurance premiums in Canada despite also having one of the lowest levels of accidents and fatalities. In his report 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. The notion that Ontario has the lowest levels of accidents and fatalities may be small comfort to those who see what is happening in their communities every day. The City of Brampton recently had three separate incidents over one weekend where vehicles crashed into a private residence or a place of business. While it is understandable that with the busier traffic of urban living and the quietness of rural life would lead to different road situations that could affect how insurance companies determine prices based on where you’re living, human factors also weigh in when it comes to your own driving experience. To see how insurance rates differ and to determine what coverage best suits your driving needs, please feel free to contact one of our experienced broker representatives at (416)494-1268.