Ontario Car Insurance Rates Have IncreasedAccording to the Financial Services Commission of Ontario, car insurance rates for many Ontario drivers will be going up at renewal, instead of down.

In Ontario, every insurance company must have rate changes approved by the Financial Services Commission of Ontario (a regulatory agency of the Ministry of Finance) and every three months, FSCO publishes these rate changes.

The FSCO results are out: in the third quarter of 2016, approved rates increased on average 1.50 per cent. This compares to a 0.33 per cent increase in the previous quarter as well.

Read, Compare, Question and Shop Around: It's Vital

"Ontario has a very competitive marketplace," FSCO says in its quarterly statement. "Rates for the same coverage vary based on each insurer's claims experience and the insurer's rating system." As a result, FSCO urges consumers to shop around for auto insurance.

This is especially true with the June 1, 2016 auto insurance reforms that are now in effect.


With more than half (52 per cent) of Ontario drivers auto renewing their policy, FSCO has previously said that Ontario drivers will need to take more interest in their insurance policy this year, and are encouraging all Ontario drivers at renewal to:

  • Learn more about the reforms
  • Compare their new policy's coverages and options to their previous policy
  • Call their insurance representative to discuss options and ask questions
  • Shop around to get the best price and the policy that meets their needs

The reforms brought about changes that require drivers to make important decisions about their auto insurance coverage, particularly with how it will meet their needs in the event of a collision.

We shop the market to help you get the lowest rate and best coverage

The single most important factor in lowering your car insurance rate and getting the best coverage for your needs is to shop around compare insurance quotes. Kanetix.ca customers, for example, save an average of $750. We shop the market to help you find the lowest car insurance rate on the policy that best meets you needs.

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