Government-mandated changes on June 1 aim to lower premiums â€” at the cost of reduced benefits
Source: Driving.ca, by Lorraine Sommerfield - dated June 1, 2016 Ontarians are waking up to significant changes to their automobile insurance policies this morning.
While there is rhetoric and howls on both sides of the legislative aisle, the fact remains: The standard wording in your policy will default to you receiving fewer benefits and lower coverage in two key areas as of June 1, 2016. If your policy was renewed earlier this year, you will not see the new changes come into effect until your next renewal. But if you buy or renew a policy after June 1, the impact is immediate...to read the entire article CLICK HERE
Drivers Need to Pay Attention to Auto Insurance Changes
More Than Half of Ontario Drivers "Auto Renew"
TORONTO, May 31, 2016 /CNW/ - Upcoming changes to auto insurance mean Ontario drivers will need to take more interest in their insurance policy this year.
A recent survey conducted by EKOS Research Associates for the Financial Services Commission of Ontario (FSCO) shows that when it came time to renew their auto insurance, 52 per cent of Ontarians simply paid or took no action, making their policy renewal automatic. An additional 16 per cent couldn't remember if they had taken any action at their previous renewal. ..to read the entire article CLICK HERE
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