Car insurance

Let's look at why the cost of auto insurance in Canada has gone up:

Claims are on the rise

• A return to regular driving habits translates into more accidents.
• New, and even used, vehicles are harder to come by, which can mean a higher number of car thefts.
• Extreme weather events, such as heavy rain, high winds and hail can also push up the number of claims made.

Claims are more costly

• Today's vehicles, equipped with driver-assistance features, cost more to repair.
• The general lack of vehicles, replacement parts and staff shortages at body shops and garages slow down claim-processing times and result in additional costs.
• Inflation has also caused the cost of parts and labour to creep up.
• Physical rehabilitation fees for accident victims have also increased.

All of these factors can affect your car insurance price, whether you've made a claim or not.

Did you know there are ways you can save on car insurance? For example, if you're a careful driver, sign up for our Ajusto program and you could lower your insurance premium.

Despite the price hike in car insurance, we're working hard to remain a competitive choice. Contact us if you have any questions about your premium. We'll help you find a solution that's right for you.

Your car insurance premium is the price of your insurance. It's the amount you pay monthly or annually to maintain your coverage.

Your car insurance policy is the contract you have with your insurer. It outlines what situations and losses are covered by your insurance.

Your deductible is the amount you have to pay out of pocket when you make a car insurance claim. Example: Let's say you have a $500 deductible, and you have an accident that's covered by your policy. If the repairs cost $5,000, you pay the first $500 and your insurance pays the remaining $4,500.