premiums Tag Archives

Tis the Season for Winter Tires and Ontario Insurers are playing Scrooge with the Discounts

Winter tires are an important part of safe winter driving. The tire rubber is more flexible and contacts cold, icy roads in a way that all season and summer tires simply can’t. Shorter stopping distances and greater vehicle control translate to a lower risk of collision and, accordingly, decreased chance of an insurance claim. In April’s provincial budget, the Ontario government promised to make insurance …

Profits Soar for Ontario Auto Insurance Companies

Last week, an updated study from York University School of Business Professors Fred Lazar and Eli Prisman was released that reveals consumers likely overpaid $1.5 billion in the last two years for auto insurance. This includes overpayments of $700 million (or about $100 for each insurance policy) in 2014 on top of the $840 million ($120 per policy) in 2013. This study is further proof …