SOURCES: Car insurance rates going down

Newstalk 1010 has learned average rates are shrinking by four per cent

They've been pressing the Liberals about keeping up their end of a deal that had the NDP support last spring's budget - a 15 per cent car insurance rate reduction.

Now, Newstalk 1010 has learned a report set to be released in the morning will reveal over the past six months, auto insurance rates have gone down by just over four per cent.

The Financial Services Commission of Ontario is behind the numbers.

This is on track with the liberal governments promise to reduce rates by 8 per cent over a year and 15 per cent in two years.

Earlier the NDP had complained about the slow progress of this promise, which was an NDP budget demand last spring.

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  1. Joao posted on 01/14/2014 04:34 PM
    Lets not forget whenever there is a provincial election that Mr. Hudak did not fight to save the taxpayer any of this reduction on their rates. Always on the side of big business Mr. Hudak is
    1. BOB posted on 01/14/2014 04:42 PM
      @Joao could of happened faster but i agree. insurance is a sham
    2. WP posted on 01/14/2014 04:43 PM
      @BOB the scammers out there which i believe there are tons probably don't help the system and the rates insurance companies charge
    3. Frankie posted on 01/15/2014 07:06 AM
      @Joao I like cost reductions too but it's not the government's job to dictate prices in the private sector. Imagine you work at McDonald's and the government legislates they have to sell a Big Mac for $ 1. Canada tried that with the Trudeau Liberals many years ago.

      Fortunately that type of socialism died here. You must lament the former USSR or perhaps the old China, Cuba, etc.
  2. AC posted on 01/14/2014 04:37 PM
    whenever there is a provincial election let's not forget that Mr. Tim Hudak did not fight to save the taxpayer anything on their insurance rates. Always on the side of big business Mr. Hudak is
  3. Ernie posted on 01/14/2014 09:11 PM
    My insurance went up last sept 1 by 17.2% on a clean record - that was 8 week after the NDP opened their mouths

    I will believe the reduction when I see it on my statement
    1. Angry Bill posted on 01/15/2014 10:05 AM
      @Ernie That's it exactly, Ernie. You've hit the nail on the head, and I see posts here by lots of nice little sheep who don't get it. Your rates rose by 17.2% for ZERO reason.. then, after what.. 4 years? Your rates MIGHT go down by something close to 15%. The end result? Your rates still went up.

      I have maintained for decades that insurance companies are nothing more than legalized racketeers. They have done NOTHING in those decades to even come close to disabusing me of that opinion.

      We're forced by government to pay private companies money, or government won't let us drive. So people's argument is that government shouldn't get involved in private companies? Really? I'M OKAY WITH THAT! By all means, give me the choice of paying usurious insurance premiums, or not. Go right ahead. What? You can't do that? Ok, then don't complain when the government wants some say in the usurious fees that the insurance racketeers charge us, when it's the government that forces us to pay those usurious rates in the first place.

      That being said, this move by the Libs to buy the NDP's support is nothing more than a shallow, meaningless act to buy votes from the mindless sheep who think this actually means something.
  4. john posted on 01/16/2014 03:21 PM
    so thay say rates are going down ea . then how come my dad renewed his insurance and it went up by % 30 . and he had no accidents for 30 years .
  5. bills8091 posted on 02/14/2014 09:05 PM
    I think lower rates are always good for customers. We all have a lot on our plates and every little bit helps. four percent may not sound like much but it adds up after awhile.

    Bill |
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