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Auto insurance rates to increase an average 2.06 per cent in Ontario, with many drivers seeing increases that are significantly higher. In Ontario, every insurance company must have changes to their auto insurance rates approved by the Financial Services Commission of Ontario (FSCO) and each quarter, FSCO publishes these rate changes. The latest rate changes have been released.
There is no doubt about it; Ontario car insurance is expensive. According to the Insurance Bureau of Canada (IBC), auto insurance rates in Ontario are 45 per cent higher than in Alberta, and about twice as high as the Maritime provinces.
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