If saving money is your goal for 2014, look to your Ontario auto insurance rates for an opportunity at some easy money.
Every New Year, we all do it; we say we're going to save more, pay down our debt and pay closer attention to our budget. But let's face it, the last few years have been rough on all of us and it's getting increasingly harder to find fat to trim. Now, it's not too often (read: ever) that you hear about prices dropping, especially Ontario car insurance rates, but the coming year-and 2015 too-will see many drivers get cheaper auto insurance.
Car Insurance Ontario
The provincial government's Auto Insurance Cost and Rate Reduction Strategy, announced in August 2013, is expected to decrease the cost of auto insurance by an average of 15 per cent within two years. The cheaper auto insurance rates will happen in phases, the first round should show up on drivers' auto insurance renewals by August 2014, and by August 2015, the full 15% average reduction should be fully realized.
Cheaper car insurance rates are already happening. Read, CAA Makes An Aggressive First Move On Car Insurance Rate Reductions.