18Feb 2023 by Charles E. Price
Car insurance premiums in WA to creep up, commissioner warns

Car insurance premiums in WA to creep up, commissioner warns

INSURANCE
By Seattle Times staff reporter Car insurance premiums are set to increase this year, though Washington drivers will be spared the brunt of it, according to the Washington Office of the Insurance Commissioner. After years of little or no increases, car insurance premiums rose a whopping 8.4% nationwide in 2022. In Washington, that increase was closer to 2%, according to a report by LendingTree's Value Penguin.The report is forecasting that the average annual cost for car insurance in 2023 will be $1,536 in Washington, which is around 14% lower than the national forecast. Washington ranks 34th in the US for car insurance premiums. Insurance for new electric vehicles will be 28% higher across the country and in Washington, and drivers with traffic violations will see a 56% increase on average…
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13Feb 2023 by Charles E. Price
Car insurance premiums are on the rise

Car insurance premiums are on the rise

INSURANCE
Some Ontario insurers have received approval for the rate hikes as high as 15 per cent THUNDER BAY — Many drivers can expect to experience sticker shock when their car insurance policies come up for renewal this year. In Ontario, the Financial Services Regulatory Authority has already approved insurance companies' applications for rate increases as high as 11 to 15 per cent, while others have been granted smaller hikes. "Insurance rates are going to go up in the near term, because we've already seen rate approvals at FSRA come in. An insurer operating in Ontario has to apply to FSRA if they want to raise rates. It will look at the application and say 'Yes, that makes sense based on your numbers. Your costs have gone up,' " explained John…
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