Road rage! In the case of drivers in Newfoundland and Labrador, the rage is centred around rising costs of auto insurance and deep dissatisfaction with the status quo. They want relief from the broken system - and they want it now, according to a new Aviva Canada poll.
“The system is broken and insurers, government and other stakeholders need to work together to fix it,” said Gordon Murray, vice president of Broker Distribution, Atlantic, for Aviva Canada. “This poll shows that as auto insurance premiums increase, drivers are not seeing an increase in value. We all can – and we must – do much better for the drivers of Newfoundland and Labrador.”
Drivers in Newfoundland and Labrador pay the highest auto insurance premium rates in the Atlantic Region, at $1,090 per year on average. Premiums increased by 22% from 2008 to 2016, compared to 11% in the same time period in the other Atlantic provinces.
Rate hikes have taken their toll on consumer happiness. In the poll released today, 83% of Newfoundland and Labrador drivers said they had noticed how quickly the cost of auto insurance premiums had soared, and a huge 63% said auto insurance has become “financially difficult” to pay for.
Other results of the poll include:
The report shows widespread support for insurance premiums in the provinces to be based on the individual’s driving and claim history. Aviva will soon be releasing proposed solutions to ensure the long-term sustainability of auto insurance in the province.
