Published on November 18th, 2013 | by Jordan
CAA Insurance Trounces Industry Rate Reduction Average
As many Ontario motorists are already aware, the Ontario Liberal government recently unveiled a plan to slash auto insurance rates over the next two years. But instead of slowly rolling out these discounts like other insurance providers, CAA Insurance is taking a more aggressive approach within the first year by lowering third quarter rates by more than ten times the provincial average!
The Financial Services Commission of Ontario (FSCO) is the government body that regulates auto insurance in the province, and its third quarter findings report that the average decrease in insurance rates was just 0.68% across the entire market from July 1st to September 30th 2013. On the other hand our rates were reduced by an average of over 8%! “Ontario has the highest auto insurance rates in the country. Bringing those rates down by reducing fraud and unnecessary industry costs will save millions in payouts and help control premiums,” says Matthew Turack, VP of CAA Insurance Company (Ontario).”With our proposed rate reduction, ongoing work to eliminate insurance fraud and the introduction of new technologies, we hope we can lead by example and pass the benefits on to those drivers of good standing.” When was the last time you got an auto insurance quote from CAA? It only takes a minute, and it could save you a bundle!
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