TORONTO— NDP Auto Insurance critic Tom Rakocevic (Humber River—Black Creek) continues to call for a 50 per cent reduction in auto insurance rates during the pandemic as new statistics from the Toronto Police Service show that vehicle accidents are down by more than half since last March — yet insurance premiums continue to rise.
“At a time when many Ontario families are struggling to make ends meet, the Ford government is letting auto insurance premiums rise while auto insurers have banked an extra $2.7 billion during this pandemic,” said Rakocevic. “The Ontario NDP and I have been calling for a 50 per cent reduction in auto insurance premiums for months. Doug Ford is letting insurance companies gouge drivers, and it’s got to stop.
“B.C. has just lowered premiums for all drivers, and the Ford government can do this in Ontario — but Ford has put the interests of wealthy corporations before everyday Ontarians.”
Data from the Toronto Police Service shows that during the 10-month period between March 17 and Jan. 22, accidents were down by 53.6 per cent from the previous year. The data also shows that even when lockdown restrictions were lifted, accidents were still down significantly from the previous year.
Rakocevic said that the Ford government has allowed auto insurers to artificially inflate the savings it claimed to give back in rebates by including the number of people who have switched their coverage to comprehensive or fire and theft.
“These were not any additional savings as drivers have always been able to switch their coverage to comprehensive or fire and theft even before the pandemic, and your vehicle cannot leave the driveway,” Rakocevic said. “In fact, I’ve heard from many drivers whose premiums actually went up after they re-activated their auto insurance policy.”