Canadian drivers are increasingly turning to usage-based insurance (UBI), particularly since the beginning of 2023, new data from rate aggregator RatesDotCa found. Quotes for UBI from the rate comparison site were up 18.22% year-over-year, RatesDotCa said Mar. 31. The data…
More than half of Ontario motorists (57%) believe distracted driving is the greatest threat to road safety, yet a quarter (24%) of Ontarians admit to distracted driving despite knowing its risks, a recent RatesDotCa survey reveals. Distracted driving ranks as…
With carpooling on the rise for those feeling inflation’s burn, and among millennials who are often keen to reduce their environmental footprints, brokers should ensure they’re asking about clients’ high-occupancy-vehicle habits, said one auto insurance expert. “What you tend to…
Insurers had predicted consumer driving habits would return to pre-pandemic levels during 2022, or 2023 at the latest, but inflation may be throwing a wrench in those forecasts, said a recent industry survey. Almost half (48%) of Canadians have made…
Canadian male policyholders are more interested in electric vehicles (EV) than female policyholders, according to a Deloitte survey — and this could affect their already pricier insurance rates, said RatesDotCa. Of the Canadians buying a vehicle in the next three…
Insurers across Canada gave drivers a break on their premiums during pandemic lockdowns to reflect a sharp reduction in the number of kilometres they were driving each month. But, even as 20% of Canadians report they’re driving to work more…
Client sent a text while driving and got caught? A conviction for that infraction beyond the police fine can cost a driver a 70% premium hike when it’s time to renew, said a new study from RatesDotCa. The study was…
Financial Services Regulatory Authority of Ontario’s (FSRA) recent approval of auto insurance rate increases for several insurers signals inflation may finally be making its way into the world of auto insurance prices, according to rate comparison site Ratesdotca. “Currently, FSRA…
Men and young people aged 18-34 are more likely than women and those aged 55+ to engage in road rage behaviours, finds a recent Ratesdotca survey. Although men and women claim to engage in road rage equally (51% respectively), men…
Eighty-three per cent of Canadian drivers engage in at least one distracted driving behaviour, and this has only increased in the past year, finds a recent survey. But distracted driving doesn’t come without its costs. Non-digital distractions lead the…
While it may be too early to tell how the end of provincial COVID-19 restrictions are influencing auto insurance claims, industry experts are bracing for higher claims severity, a return to pre-pandemic levels of traffic, higher auto rates due to…
Inflation hit a multi-decade high of 5.7% this February. Industry observers warn this could go even higher before it goes lower, and the auto insurance industry is not immune to it. How long will it be before drivers feel the…