Toronto, Ontario — May 2, 2018 —Average auto premiums in Ontario and Alberta increased 1.08% and 2.46%, respectively, while rates on the East Coast saw a 0.86% decrease according to a report released by LowestRates.ca, an online rate comparison site for insurance, mortgages, loans and credit cards
The company’s Q1 2018 Auto Insurance Price Index, uses proprietary data to track the average cost of car insurance in Canada on a quarterly basis.
According to the company,while insurance prices in Ontario increased during Q1 2018, they are still down 6.1% when compared to this time last year. However, in Alberta, current rates are 6.04% higher than they were at the end of Q1 2017.
This is the first time that Atlantic Canada has been included in the Auto Insurance Price Index report, and thus far only two quarters of data have been collected.
One Response
The increased rates in Alberta might also be attributed to how people find favorable insurance rates in Alberta compared to that of Ontario. This might not be too much of a great impact for those planning to get car insurance coverage since the rates in Alberta are not as serious as it sounds. I’ve had my car covered by Surex in Alberta and the rates thus far are not something to cause worry or any concern about. Overall, Alberta would still be in a favorable spot for those seeking car insurance than that of Ontario. This was a great read. Thank you.