Insurance Gets Cheaper for Ontario Drivers with Winter Tires

By: Justin Leung on October 16, 2015

The Ministry of Finance has confirmed that a plan first proposed in April to require auto insurers to give discounts to drivers that install winter tires on their car will go into effect starting in January 2016.

The press release gives details regarding the new program as well as reiterates the goals the ministry has in regards to auto insurance. It wasn’t too long ago that the Liberal government of Ontario promised to cut insurance premiums by an average of 15 per cent earlier this year, however that has yet to occur and premiums have actually gotten slightly higher

Charles Sousa, the Minister of Finance affirmed his dedication to lowering the cost of auto insurance in a press release.

“Our government is committed to reducing insurance costs and lowering premiums after recently introducing important and necessary reforms to the auto insurance system. Auto insurance is dependent on individual drivers’ behaviour, and this winter season, drivers across Ontario will be able to save more on their auto insurance by installing winter tires. Consumers are also encouraged, as with any insurance product, to shop around for the best possible rate and package that meet their needs.”

Considering the failure to meet their targets on lowering insurance so far, this plan could help them save a little face in the eyes of Ontario drivers. While it isn’t clear just how much of a discount they will require insurers to offer, it’s good news for drivers heading into the cold weather season. Winter tires are essential for enhancing traction, handling, and braking during icy conditions.

Drive safe, Ontario! 

Image Courtesy of Adobe Stock

 

Comments