Can you afford 15% insurance discount?

Markham Economist & Sun

The Ontario Liberal Party wants to cut car insurance rates by 15 per cent. Is that a good idea?

Ontario drivers need to make sure they are not getting cheaper insurance at the expense of reduced benefit entitlements.

Paying less money for the same thing is a deal. But a person may be ripped off when paying less money for even less benefits.

For example, cereal makers will put less cereal in boxes by shrinking their packages and then sell them at the same or lower price.

This trick tries to convince consumers they are getting a deal when they are actually paying more per bowl.

The Liberals have a track record of slashing drivers’ benefits under the pretext of lowering insurance rates.

In 2010, they limited “minor injury claims” to $3,500. Yet insurance companies have not reduced rates for most drivers; most are paying more than ever.

The goal of car insurance is to give us financial protection. Cutting our benefit entitlements destroys the entire purpose of requiring drivers to buy car insurance.

Ontarians cannot afford a 15 per cent insurance discount if it will cost them their benefits.

Rahul Soni

MARKHAM