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FSRA Says $1B Available to Ontario Drivers Due to COVID-19
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SHORT DESCRIPTION

Ontario drivers are eligible to receive nearly $1 billion in car insurance rate relief from insurers due to the COVID-19 pandemic, according to the Financial Services Regulatory Authority (FSRA).

LONG DESCRIPTION

Ontario drivers are eligible to receive nearly $1 billion in car insurance rate relief from insurers due to the COVID-19 pandemic, according to the Financial Services Regulatory Authority (FSRA). That’s a 45% increase (or more than $300 million) provided by 13 of the largest insurers since May 2020. This is equivalent to 7.1% of total annual auto insurance premiums made available to the 6.6 million drivers in Ontario. Insurance companies’ pandemic relief measures vary. They may include rebates, rate reductions, waiving non-sufficient fund fees for nonpayment, risk re-ratings, and premium deferrals.

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Have you ever bought something only to later find out that you could have gotten a better deal somewhere else? We hate that feeling. That's why, back in 1994, we set out to help our fellow Canadians avoid that sinking feeling when it came to buying insurance by creating a service that helps you compare rates. Since then, millions of Canadians have used InsuranceHotline.com to find the best rates and saved millions of dollars along the way. In 2017, drivers saved a combined $4.5 million on car
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