Asked and Answered: ICBC introduces distance-based discount, building on calls for more usage-based options
Vancouver, British Columbia — ICBC announced Thursday that it will begin offering customers a distance-based discount for those who travel less than 10,000 kilometres per year. British Columbia’s crown insurer claims this new offer will allow eligible customers to save between ten and 15 percent on the annual renewal of their optional coverage. Customers may […]
Victim Tax: Driver on the hook for nearly $9,000 repair after hit-and-runner hits her uninsured parked car
Toronto, Ontario — What was intended as a frugal decision after an unfortunate accident has left a Scarborough mother with a nearly $9,000 repair bill after her parked car was damaged in a hit-and-run. After a former boyfriend wrecked her 2021 Hyundai Sonata and left her with the $1,000 insurance premium increase that resulted, Shanise […]
Scale Models: MPI directed to adopt primary driver rate adjustment model following court appeal
Winnipeg, Manitoba — Good drivers will no longer subsidize bad drivers, according to a Manitoba lawyer following the recent court decision to adjust MPI insurance rates based on a primary driver model, rather than a registered owner model. “It will never account for the people who are actually driving the vehicle, and the people who […]
Crunching the Numbers: Catalytic converter theft rates higher than reflected numbers, report says
Toronto, Ontario — A new report from the U.S.’s National Salvage Vehicle Reporting Program (NSVRP) gets down to brass tacks on how catalytic converter thefts are costing the insurance industry and everyday drivers, more than what initial estimates may reflect. Based on data collected by State Farm, catalytic converter thefts are up 33 percent in […]
Porsche Policy: Porsche Insurance launches in Canada
Toronto, Ontario — Porsche owners now have the ability to opt into an insurance plan designed to cater specifically to their needs as the German automaker has officially launched Porsche Insurance in Canada. Customers who sign on to the OEM-affiliated insurance plan will be afforded a number of exclusive benefits, according to Porsche’s press release, […]
Picking Pockets: N.L. Immigration Minister asks auto insurers to ‘not exploit’ Ukrainian refugees
St. John’s, Newfoundland — From one hardship to another, reports have begun circulating that Ukrainian refugees arriving in Newfoundland are being charged exorbitantly high auto insurance rates, well over the average paid by most Canadians. The Canadian Press got a hold of two auto insurance quotes from a pair of Ukrainian refugees in St. John’s—one […]
Fine Print: Study finds many drivers misinformed about auto insurance coverage
Toronto, Ontario — Insurance is simply a fact of life when owning a vehicle in Canada, but a new survey from Forbes Advisor has found that many drivers lack a full understanding of what their policy actually provides. In an online survey of 2,000 U.S. adults, Forbes Advisor found that at least 40 percent believed […]
