The average premium for Ottawa car insurance has increased 12 percent in 2019. The trends are generally continuing upwards across Ontario, as insurance companies continue to payout in increasing amounts.
Insights Into Ottawa Insurance Rates
Your insurance premium is primarily based on your personal driving record and insurance history, although there are some interesting external correlations that can influence insurance rates.
Why Do Rates Go Up?
Insurers raise rates to combat the costs associated with car repairs, claims and insurance fraud across the province. Auto insurance fraud alone costs Canadians over a billion dollars a year. Ottawa insurance rates also tend to fluctuate based on the total number of fatal collisions in the previous year. InsuranceHotline.com data combined with data released by the City of Ottawa shows that the cost of premiums rise or fall almost in lock-step with the numbers of fatal collisions in the year prior. When fatal collisions in the city fell from 29 to 22 in 2016, for example, car insurance in Ottawa fell 11.25 percent. In 2017 fatalities increased, and in 2019 insurance is up. However, 2018 saw a drop in fatal crashes, so it is possible we will see a slight reduction in rates in early 2020.
Tips to Save
Do you Qualify for Discounts?
There are many discounts insurance companies provide, most you wouldn’t know existed. There is a Good Student Discount, Student Away at School Discount, alumni discounts, union discounts, and more along those lines. Ask your provider for a list to see how you can save.
Most popular discounts for Ottawa drivers:
- Carleton University Students
- Carleton University Alumni Association
- Algonquin College Alumni Association
- University of Ottawa Alumni Association
- University of Ottawa Students
