There are always lots of questions about insurance in Canada, and in
particular, Toronto. This is becoming a huge issue. Last week on the
local news there was a story about a lady who moved here last year
from overseas. She was paying $3000 per year for a 1986 Mazda at the
time. Unfortunately she had a "fender bender" with the car and
reported it to the insurance company. They told her it would increase
her payments, probably about $600 per year. Imagine her surprise when
she got her renewal last week for a total of $13,330 per year! It was
due within a month. She was also told that, if she decided not to
drive anymore and take cabs or hire a limo whenever she needed to, her
policy would be even higher if she renewed at a later time because she
would be considered a new driver again! I do not know the outcome of
this at this point, however, the reporter and IBC (Insurance Bureau of
Canada) did indicate that this type of a hike was not allowed. Also,
to that end, the new Government of Ontario under Dalton McGuinty, has
frozen rates and is starting to roll them back, but that only begins
now...so, the good news is the government recognizes this is an issue.
Perhaps the best thing to do would be to contact the IBC and ask them
what you should do, if they hear from enough people it might help. I
wish you all luck. Destination Canada Publications.
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