Even if you’re a model customer with no claims, other reasons beyond your control could be pushing your premium up.Extreme weather events and catastrophes are more frequent. As forest fires, floods, storms, and other weather events become more frequent, they cause extensive damage, resulting in more costly claims. Municipal infrastructure is getting older. Outdated municipal infrastructure and a higher demand for water make sewer backups more frequent, resulting in more damage-related claims (...)
Tag: rate increase
Top reasons for car insurance to increase, and ways to save
Even if you’re a model customer with no claims, other reasons beyond your control could be pushing your premium up.Fraudulent claims are increasingly common. Fraudsters who stage accidents to make money are causing rates to increase across the country. In Ontario, the Insurance Bureau of Canada reports that fraud costs an estimated $1.6 billion per year (...)