First potholes and now this? Car insurance rates on the rise
Published Thursday, March 7, 2019 1:44PM EST
Last Updated Thursday, March 7, 2019 6:44PM EST
As if the pot holes weren’t enough for Montreal drivers to worry about, car insurance rates are on their way up.
The rise comes after several years of the rates holding steady and the Insurance Bureau of Canada said part of the reason for the rise is that car repairs have gotten pricier.
They pointed to newer models of cars being heavily computerized, leading to more complex repairs in terms of skill and more expensive materials.
In 2007, the average premium for car insurance was $566, dipping to $525 in 2014 and slowly climbing to the present day.
How much an individual driver’s rate will go up depends on several factors, including driving record and type of car.
“For insurers, for the past couple of years the cost of selling claims and of operating costs have exceeded the premiums they were collecting, so an adjustment was inevitable,” said Insurance Bureau of Canada spokesperson Pierre Babinsky.
A spokesperson for CAA Quebec said the best way to avoid a sizeable hike in an insurance rate is be sure to shop around for the best deal.