Auto insurance update on additional premium for high theft risk vehicles – Ontario
August 21, 2023
Commercial Lines, Personal Lines
We continuously review our auto insurance offering and we're announcing updates effective September 11, 2023 for new business and November 4, 2023 for renewals.
In June, we told you about the additional premium that we implemented to address current challenges in Ontario auto insurance.
We continuously review our auto insurance offering to make sure that we provide you and your customers with competitive coverage. We also heard from you and appreciate your valuable feedback. As a result, we have further refined our offering and I am pleased to announce these updates effective September 11, 2023 for new business and November 4, 2023 for renewals for private passenger vehicles (PPV), IRCA and fleet.
What you need to know
- We have updated our list of vehicles impacted by the additional premium to apply to 2019 models and newer (previously 2016 models and newer). Other criteria announced in June remain the same.
- The additional premium now applies to targeted locations in Ontario only (previously all of Ontario).
- For PPV, the anti-theft discount is now 20%.
As a reminder, customers can reduce their theft insurance premium by installing a Tag system. Your Gore Mutual customers also enjoy $100 off the cost of installation at Speedy Auto Glass locations in Ontario.
We have also updated our FAQ. If you have any questions, please contact your Business Development representative.
Once again, thank you for your feedback and continued support.
Kate Hogan
Vice President, Broker Engagement and Performance
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