Ontario auto insurance premiums up 14% from 2017: auditor

Ontario’s Comptroller General said the average auto insurance premium in the province increased 14% from 2017 to 2021 to $1,642.

Bonnie Lysyk said in her annual report today that Ontario has one of the lowest car accident injury rates yet has the highest private auto insurance premiums in Canada. It states that it has

She said several other reports over the past decade have made the same finding, but the government has not directed regulators to take significant action.

For example, Ontario could follow the example of British Columbia and Saskatchewan and introduce mandatory certifications for auto repair businesses to protect against fraud, Lysyk said.

She also found that auto insurance rates vary wildly within the state, with the exact same person driving the same car paying $1,200 a year in London, Ontario, but in Brampton, Ontario. I was paying $3,350 a year.

The government directed Ontario’s financial services regulator to begin a review of its framework earlier this year.

This report by the Canadian Press was first published on November 30, 2022.