Fewer claims equal lower auto insurance rates, says the company.
Despite there being a vaccine, Canadians are still feeling the pandemic’s financial effects and will continue to for some time. It’s a reality not lost on Aviva Canada, which has announced continued rate relief for their Ontario auto insurance policyholders.
A March 19, 2021 announcement indicates that Ontario customers can expect up to 20% premium reduction when their policies renew on or after June 15, 2021. The new lower rates are available to new customers too, beginning May 1, 2021.
"We continue to see a reduced level of claims in Ontario, and we are passing these savings on to our customers," said Phil Gibson, Managing Director of Personal Insurance at Aviva Canada. "This is the second time we will reduce our personal auto rates for Ontario customers since the start of the pandemic."
Customers do not need to do anything to see their premiums reduced. There is no action required to initiate the savings.
The first time Aviva lowered its rates was last August, and the reduction amounted to 5%. With last year’s 5% reduction and things like payment deferrals, Aviva says it provided customers with $147 million in relief across a range of measures.
Aviva’s announcement comes on the heels of last week’s one-year anniversary of the province’s first declared state of emergency in response to COVID-19. Several insurers announced last week they introduced new, or extended existing, relief measures into 2021. CAA Insurance, for example, is offering a 15% rate reduction to policyholders, and Intact Insurance (and belairdirect) are offering policyholders a one-month break in premium relief.
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