The next time you you renew your car insurance, you should expect a premium rate reduction.
New rules from the Ontario Government kick in today which include the way fender-benders are dealt with.
The Insurance Bureau of Canada says If you meet certain conditions; damage is less than $2,000, no one submits an insurance claim and no one is injured, your premiums should drop. The accident forgiveness covers 1 minor accident every 3 years.
Interest charged drivers who pay monthly is also being reduced.
Michael Brattman is the chair of the Insurance Brokers Association of Ontario. He’ll join Zoomer Radio’s Fight Back with Libby Znaimer after the noon news today to talk about the changes.