Ontario Motorists have overpaid for insurance by $5 billion

Published on May 10, 2018

According to a report by Dr. Fred Lazar, drivers in Ontario may have overpaid by as much a $5 billion on their auto insurance premiums over the past 5 years.  This works out to be an overpayment of $143.00 per year for auto insurance policy holders.

While Ontario drivers have been overpaying for auto insurance, the profits for insurance companies have grown to $1.5 billion in 2016.

As a result of the above, there is a call from interested parties for greater transparency from the insurance companies so that consumers can be better protected, informed and treated fairly. 

See the report here:

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