Spring Auto Insurance Tips from Debbie Arnold

April 26, 2021

Debbie Arnold
Registered Insurance Broker

Group Business Development Manager
Sound Insurance Services


With the weather turning warmer and vaccinations ramping up in Canada, our outlook becomes more hopeful than it’s been in a year.

In Ontario, automobile insurance rates have stabilized for the first time in 3 years. However, even if your premium has not increased, that does not mean that you’re premium is the best it can be. With rate stabilization comes complacency, and shopping your car insurance rate is a good idea.

It’s also important to update the usage of your vehicle, as changing commute distances and dropping annual mileage can impact your premium. Review the rating page of your policy to ensure all the information is accurate so you receive the best possible premium.

What you may find surprising is the property rate increase. Unfortunately, during the Covid lockdowns, many people decided to try cooking for the first time and consequently house fires increased by 67%. Mother Nature is still wreaking havoc on the property insurance industry with severe windstorms and floods. This impacts everyone’s premium. So even if you remained unscathed during the last year or have been claims-free for a number of years, you may see an increase on your property premium, keeping in mind that insurance premiums are based on spreading the risk of the few among the many; unfortunately, when the few become the many, a rise in rates is predictable.

There is no cost except a little of your time to review your personal insurance requirements. It’s always best to review your policies within 30 days before the renewal for premium accuracy.

Many personal insurers are now shifting document delivery to the digital space. You may now receive only the invoice and liability cards in the mail. You may have to contact your provider to have your renewal documents emailed to you or specifically request paper copies. Although this is a much more efficient method of delivery, saving on both trees and stamps, it can cause a lot of confusion at the time of your renewal, but this will be the preferred method going forward so be prepared.

At Sound Insurance, we’re always available to discuss both your personal and commercial requirements. We’re happy to review current coverage and provide suggestions for savings and/or enhancements.

Debbie Arnold, R.I.B. (ON) C.A.I.B.
Group Business Development Manager




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