Resource Hub

Insurance Rates Have Come Down…For Drivers Already Paying Nothing!

TORONTO — 7,896 tickets issued, as reported last week by the police on their crackdown for driver’s producing licensing, ownership and insurance documents.

1,658 drivers could not provide evidence of insurance, 233 admitted to driving without insurance and 18 falsified insurance documentation.

Direct insurance violations contributed to 24% of the crackdown.

1,317 people could not produce a licence. No licence, no insurance.

By November 2003, 222,773 drivers, up from 62,000, were put in to the high-risk Facility insurance company. Then Facility increased their rates by 53%, forcing thousands of drivers out, only to find even higher rates with other insurers.

For example a 30 year-old with 1 accident in 2004 lands himself a Facility rate of $7,006.

High-Risk Insurer rates, ranged between, $5,884 to $8,903.

Driving without insurance is only a $5,000 fine, if caught. What a deal!

Drivers must move back to regular insurance markets at reasonable rates. The rate for this driver would then be only $2,905.

www.InsuranceHotline.com helps drivers find lower rates.

Add Comment

Featured Articles

A Guide to Commercial Insurance Terms

Insurance terms can be difficult to understand, and when it comes to protecting your business, it’s vital that you have a clear view of what your coverage entails. Getting to know the meaning behind some of the common… Read More

Keeping Your Business Insurance Affordable

Like any other part of running your business, you want to keep the business insurance coverage within the company’s budget. It’s important to have all the coverage you need, but it’s also important for that… Read More

The Extra Business Insurance Well Worth Considering

Business insurance is designed to protect every aspect of the company you have built from the ground up, and make certain a mistake or an accident doesn’t spell the end. Most business insurance policies are a package… Read More