Off the Record: 73 percent of insured drivers prefer to pay out of pocket for repairs
Toronto, Ontario — Nearly two-thirds of American drivers would prefer to pay out of pocket and avoid using auto insurance in the event of an accident, according to a survey of 2,000 American consumers, conducted by LendingTree. Of those who did file a post-accident claim, 24 percent regret doing so. According to LendingTree’s survey, 39 […]
Fancy Fees: Federal luxury tax on $100,000+ cars, coming this fall
Ottawa, Ontario – Details on an incoming luxury tax by the Government of Canada were released July 15. The new rules will affect manufacturers, wholesalers, retailers and importers. As of Sept. 1, the Select Luxury Items Tax Act proposed in Budget 2021 will come into effect, targeting certain vehicles and aircraft above $100,000 and some […]
Reeling in the Net: MPI reports claims costs down, net income $115.5 million
Winnipeg, Manitoba — Auto claims costs are down in Manitoba as the provincial insurer reported a 27.3 percent drop in the first quarter of 2021. “The first quarter of 2021/22 saw a continuation of the favourable claims experience of 2020/21 with the frequency of collisions occurring at a rate approximately 20 percent lower than generally […]
