Drivers Still in the Dark

You are here:
Home
News

Many Ontario drivers are still unaware of the changes to their auto insurance, effective this Wednesday, says RSA.

August 30, 2010

Nearly 70% of Ontario drivers are unaware of how the pending auto reforms will affect their insurance policies, according to a Leger Marketing survey by RSA Canada. Only 2% of the 1,524 respondents have a confident grasp of the new legislation and its effect on costs.

“These statistics show there is real opportunity for brokers to educate drivers on the host of improvements the auto reforms will bring,” said Irene Bianchi, VP Claims & Corporate Services, RSA.

The new legislation is effective Wednesday, September 1, and allows Ontario drivers to customize their auto insurance policies to meet individual needs. Additionally, it will allow more choice around medical, rehabilitation and attendant care.

Ontario drivers, who pay about 25% more for auto insurance than drivers in other provinces, are encouraged to contact their brokers to learn how the new legislation will affect them and to ensure they have adequate insurance coverage, said Bianchi.

RSA recommends keeping the following tips in mind:

Increase your deductibles – By increasing your deductible you are assuming a larger portion of your losses and lowering your insurance premiums. The deductible is the amount you pay for a covered loss before the insurance company starts paying.
Use the same insurance company for all vehicles – Many insurers offers a discount to drivers who insure more than one personal use automobile. You may also qualify for a lower rate if your property is insured with us.
Low Mileage Premiums – If your annual mileage is low, tell your broker and you could qualify for special premiums.

For a full list of the auto insurance reforms brokers and their clients can visit:

http://news.ontario.ca/mof/en/2009/11/ontarios-proposed-auto-insurance-reforms.html