You pay for auto insurance, Government steps in, You pay more
As of tomorrow morning some new things come into effect for those of you with cars. Your coverage is now half of what it used to be! Yay!
Apparently in an effort to grant MORE options to users, the government forced insurance places to have a lower minimum and a higher maximum. While the intentions WERE good, here’s how it’s already shaping up: You pay more for less.
Insurance companies decided that it would be easier (and better) if you paid the same amount for less coverage than you currently get. If you want to move back to what you WERE paying, you’ll have to cough up more cash.
Oddly enough, this won’t affect you until you get your insurance renewed, but because of legislation earlier this year, they’ll claim the price increase is actually because of that. Huzzah for the government stepping in!
http://www.torontosun.com/news/columnists/joe_warmington/2010/08/30/15190321.html
http://www.torontosun.com/news/torontoandgta/2010/08/30/15190226.html
