The “price is wrong” for Ontario auto insurance: IBC

Insurance Bureau of Canada (IBC)’s public awareness campaign on Ontario auto insurance has listened to disgruntled consumers and now aims to promote understanding of the reasons behind stubbornly high rates. 

“We wanted to find out what Ontarians were thinking about the high cost of auto insurance,” says IBC Ontario vice president Ralph Palumbo. “So we hit the road over the summer to listen to their concerns and encourage discussion about how to bring these costs down. Not surprisingly, Ontarians had a lot to say.”

That consumer feedback forms the basis of a 30-minute television special The Price is Wrong, which airs on OMNI TV Sept. 2 at noon. Canadian broadcaster and writer Peter Feniak answers common questions about auto insurance and explains how Ontario drivers are victims of what IBC reports as the growing abuse of the insurance system through fraud.

“What we pay for insurance is based on the cost of claims and in many cases the costs are ‘through the roof’ as a result of fraud and abuse in the system,” says Steve Kee, director of media relations for IBC. “Until we can get costs under control, we will continue to have premiums that we all agree are too high.”

IBC is continuing to visit markets across Ontario to gather consumer information about auto insurance as part of the awareness campaign.