If you have to renew your car insurance any time soon, prepare for a possible rate increase on your renewal notice.
More than two dozen private insurance companies in Ontario have received permission from the provincial regulator to raise premiums in the coming months, and industry experts say the trend is likely to continue.
“I wish I had good news for consumers, but everything I’m hearing is that rates are increasing,” said John Shmuel, managing editor of insurance and financial website Ratesdotca.
“I really don’t know if many insurance companies right now are going to be able to keep their car insurance rates flat.”
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