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Ontario’s most expensive cities for car insurance
December 1, 2022 by Alyssa DiSabatinoBrampton is Ontario’s reigning champ for the city with the most expensive car insurance — 62.5% higher than the province’s average. That said, the city has become more affordable since 2020, when it was 123.5% more expensive than the rest…
How auto insurance rates are trending in Alberta, Ontario and Atlantic Canada
October 8, 2021 by Jason ContantAuto 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…
RATESDOTCA acquires LowestRates.ca
September 14, 2021 by Jason ContantEditor’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,…
Home insurance rates dropping but no reprieve for condo owners
July 28, 2021 by Jason ContantPersonal 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…
Why your clients could expect price reductions in home insurance
May 25, 2021 by Greg MeckbachIf 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…
How rising interest in electric vehicles affects auto insurers
May 18, 2021 by Jason ContantThe 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…
Why more auto insurers may opt for UBI
March 30, 2021 by Greg MeckbachOntario 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…
Why auto rates are increasing despite fewer drivers on the road
March 6, 2021 by Jason ContantAverage 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…
Why opening up B.C. auto to competition could help even if it doesn’t lower prices
October 8, 2020 by Greg MeckbachBritish 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.…
The good news and bad news about Ontario auto
September 24, 2020 by Greg MeckbachOntario 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…
What happens in Alberta when auto insurers are not comfortable with their profitability
September 23, 2020 by Greg MeckbachThe 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…
How you could save an aging Ontario auto client $14,000
July 10, 2020 by Greg MeckbachIf 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…