Guelph, ON (Aug. 26, 2013) – Co-operators General Insurance Company is once again lowering insurance rates for private passenger automobile clients in Ontario, effective October 15. Altogether, The Co-operators has reduced its auto insurance premiums in the province by 12 per cent since the start of 2012.
The impact of The Co-operators rate reductions on individual clients will vary, depending on a number of factors including where they live, the vehicles they drive, their driving records, as well as the amount of coverage and deductibles selected. The Financial Services Commission of Ontario (FSCO) reviews filings from insurance companies to ensure that their proposed rates are justified, based on claims experience and other factors affecting costs.
In 2012, The Co-operators was in a position to pass on savings to its clients due to the positive impact of the auto insurance reforms in Ontario. This action is consistent with its co-operative mission, vision and values. The further reduction in 2013 reflects continuing positive experience with the ongoing auto insurance reform efforts in Ontario. The Co-operators looks forward to working with the government to find further cost savings in the coming years.
“Ontario drivers pay a lot for their insurance, so we’re very pleased that we’ve been able to reduce our rates significantly over the past couple of years,” said Kathy Bardswick, president and CEO of The Co-operators. “While auto insurance is highly regulated and policies are standardized to some degree, there are a number of choices drivers can make to suit their particular needs and preferences. It’s a good idea to speak with your advisor to make sure you have the amount of coverage you want at a price you’re comfortable with.”
For more information on auto insurance in Ontario, contact your advisor or visit FSCO’s website. To get an auto insurance estimate from The Co-operators in as little as 30 seconds, visit auto-estimate.cooperators.ca or call or visit your local Co-operators advisor.
About The Co-operators
The Co-operators Group Limited is a Canadian-owned co-operative with more than $34 billion in assets under administration. Through its group of companies it offers home, auto, life, group, travel, commercial and farm insurance, as well as investment products. The Co-operators is well known for its community involvement and its commitment to sustainability. The Co-operators is listed among the 50 Best Employers in Canada by Aon Hewitt; Corporate Knights’ Best 50 Corporate Citizens in Canada; and the Top 50 Socially Responsible Corporations in Canada by Sustainalytics and Maclean’s magazine. For more information visit www.cooperators.ca.
Source: The Co-operators