Rising Auto Rates 

As many Ontario residents are finding out, their auto insurance premiums are rising and there are a few reasons for this.
  • Technology in cars – Cars are built with more autonomous features, sensors in mirrors, rear and front bumpers, and windshields all add to the costs of repairs.
  • Fraudulent claims – after a few recent studies it was determined that each driver pays $236 of premium a year based on fraudulent claims. This affects the whole industry.
  • Medical costs – If you’re in an accident its not just a car that might need to get repaired but also the people involved. The cost of these services, physiotherapy, and chiropractor are increasing year after year.

There are many discounts one can get with an auto policy that will help lower the premium.
  1. Bundle your home/tenants with your auto, ie put them at the same company. This can save you up to 10 % off your premium.
  2. If you have multiple cars in the home, make sure you have them at the same company with a multi vehicle discount.
  3. Winter tire – using winter tires between the months of November and April can reduce your insurance premium by up to 5%.
  4. Retiree – Retired? You can get a discount on your auto insurance.
  5. Conviction free – tickets and infractions can stick with you up to 3 years. Clean up that driving record for up to 15% discount.
  6. Usage based Insurance – Some insurance companies offer incentives for monitoring your driving habits. Many offer 5% to signup and if you are a good driver further discounts can apply.

At Hope & Harder we are here to help you choose insurance that makes sense for you.  We live and breathe insurance and have an understanding what companies are doing in the market place and when to anticipate rate increase. Contact us here or give us a call to see how we can help.