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How auto insurance rates are trending in Alberta, Ontario and Atlantic Canada

October 8, 2021 by Jason Contant

Auto insurance rates plunged in Alberta and Ontario this spring, while rates stayed flat in Atlantic Canada, according to Q2 2021 results from LowestRates.ca’s latest Auto Insurance Price Index Report. In Alberta, rates decreased 11% quarter-over-quarter after a steep incline

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News Insurance

RATESDOTCA acquires LowestRates.ca

September 14, 2021 by Jason Contant

Editor’s Note: This story has been updated to include information from RATESDOTCA.   Rate comparison site RATESDOTCA has acquired fellow aggregator LowestRates.ca. LowestRates.ca will continue to operate as a separate site and independent source of financial services information and rates,

News Insurance

Home insurance rates dropping but no reprieve for condo owners

July 28, 2021 by Jason Contant

Personal property premiums were a mixed bag in the first quarter of 2021, with insurance for condo owners continuing to rise, but home insurance rates trending down, according to a new report from LowestRates.ca released Tuesday. Year-over-year, home insurance premiums

News ClaimsClaims CanadaInsurance

Why your clients could expect price reductions in home insurance

May 25, 2021 by Greg Meckbach

If insurers can achieve combined ratios of less than 80% in personal property, homeowners should expect to see lower prices and possibly even rebates, the CEO of LowestRates.ca suggests. “For consumers, if insurance companies are making money, then it means

News Insurance

How rising interest in electric vehicles affects auto insurers

May 18, 2021 by Jason Contant

The number of customers looking to insure an electric vehicle (EV) is rising, which is having a ripple effect on auto carriers due to the increased cost to insure these vehicles, according to a recent report from LowestRates.ca. Year-over-year, there

News Insurance

Why more auto insurers may opt for UBI

March 30, 2021 by Greg Meckbach

Ontario motorists can expect to see more insurers offering telematics now that the province is allowing carriers to impose surcharges on risky drivers. “The bottom line is that insurance companies always want to find the right price for a risk

News Insurance

Why auto rates are increasing despite fewer drivers on the road

March 6, 2021 by Jason Contant

Average auto insurance rates rose in Canada during the second half of 2020 despite the COVID-19 pandemic and lockdowns that led to fewer drivers on the road, a new report from LowestRates.ca found. The average auto insurance premium climbed by

News InsuranceLegislation / Regulation

Why opening up B.C. auto to competition could help even if it doesn’t lower prices

October 8, 2020 by Greg Meckbach

British Columbia motorists would probably benefit from more choice in auto insurance if it means they can start doing more things by phone and online, suggests the co-founder of an online price comparison site. With the provincial election scheduled Oct.

News Earnings / RatingsInsurance

The good news and bad news about Ontario auto

September 24, 2020 by Greg Meckbach

Ontario auto insurance rates were 3.7% lower in the second quarter of 2020, than in the same period in 2019, but were still higher than in the three months ending March 30, 2020, data released Tuesday by LowestRates.ca suggests. “COVID

News InsuranceLegislation / Regulation

What happens in Alberta when auto insurers are not comfortable with their profitability

September 23, 2020 by Greg Meckbach

The Alberta auto insurance industry is still suffering “hangover” from a 5% cap on rate increases that was abolished more than a year ago, with many insurers not looking for new business, suggests the co-founder of LowestRates.ca. Data released Tuesday

News Insurance

How you could save an aging Ontario auto client $14,000

July 10, 2020 by Greg Meckbach

If you are not consistently shopping around for a better deal for your Generation X and Boomer-generation auto clients, they could be paying thousands extra after reaching middle age – unless they happen to find a lower rate from from

News Insurance

How auto dealership closures affected the industry

June 23, 2020 by Greg Meckbach

Canada’s property and casualty insurance industry saw a steep drop this past April in the number of auto clients seeking policies for new vehicles, and it’s not clear how long a more recent rebound will last, the head of LowestRates.ca