Home and auto rates harden in 2024 Q1
Canadian personal auto and property insurance rates continue to climb year-over-year, showing double-digit increases in 2024 Q1.
Source: canadianunderwriter.ca
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Home, auto rate increases in 2023 "highest...seen in years."
Auto insurance rates increased 10% in 2023 compared to 2022, and similarly home insurance rates saw an increase as well — up 6.6% last year.
Source: canadianunderwriter.ca
Where auto and home insurance rates are headed
Premiums rose year-over-year in all provinces in Canada in personal auto and personal property lines, Applied Systems said.
Steve Whitelaw Joel Baker Quantification Inc National Insurance Conference Of Canada Applied Rating Atlantic Canada
Source: canadianunderwriter.ca