Auto insurance rates still higher than expected

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Toronto, January 29 (CINEWS): The Liberal government promised to lower the average auto insurance rate by 15 per cent in Ontario within two years.
Almost three years later promised most Ontarians don’t see much of a difference if at all when it comes to their premium costs.
The Financial Services Commission of Ontario (FSCO), which sets auto insurance rates in the province, issued a report that showed approved rates decreased on average by 0.15 per cent in the fourth quarter of 2015.
For Bramalea-Gore-Malton MPP Jagmeet Singh, who is the New Democrat Party’s deputy leader and consumer services critic, the rate hasn’t dropped near far enough or fast enough.
He accuses the government of doing more to lower costs and raise profits for insurance companies than taking action to reduce premiums for consumers.
According to Singh, the Liberal strategy reduces costs for insurance companies in hope the industry passes those savings on to drivers.
Has your insurance premium gone up or gone down recently. Either way we’d like to hear from you.

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