Province to make announcement on automobile insurance prices

Ontarians will discover far more on Tuesday about a achievable lower to automobile insurance coverage costs.

Finance Minister Charles Sousa is set to make an announcement at 9:30 a.m. at the Macdonald Block on Bay Street.

The information release says it’s about the province’s “auto insurance price and rate reduction strategy.”

The Liberal government agreed to an NDP demand for a 15 per cent lower in car insurance charges over 2 years in purchase to get last year’s provincial spending budget passed, including an 8 per cent cut in the initial 12 months.

Auto insurance coverage charges have dropped a complete of 4.66 per cent because August 2013, in accordance to latest figures provided by the Financial Companies Commission of Ontario in mid-January.

Click here for an interactive insurance coverage charge comparison instrument.

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