ontario inflation

Yet another regular bill is about to get more expensive in Ontario amid inflation

The pressures of inflation are taking a toll on every aspect of daily life in Canada this year, with the price of groceries, takeouttransportation, rent, accommodation — basically, everything — hitting highs not seen in a while, and in some cases, in decades.

People living in already-exorbitantly expensive cities like Toronto are definitely feeling the burn on their wallets, and while the rate of price increases is gradually slowing down, for one bill, it's about to get worse.

Canadians who drive may notice that in the coming months, their car insurance may be costing them a lot more, with a potential increase of up to 12 per cent with some providers.

The experts at Ratesdotca told news outlets like CTV Toronto this week that fees at a number of companies have already spiked, and will continue to do so.

It follows a recent approval by the Financial Services Regulatory Advisory of Ontario for certain companies to do so, after premiums lowered during lockdown. People were staying home while traffic levels and thus accidents were way down. (Insurer rates are influenced by the payouts they have to give during a given period.)

Some special offers and rebates that popped up during the pandemic are also no longer on the table.

While companies like Intact and Aviva have recently raised rates by around 3 per cent, some, like Zenith, have boosted theirs by over 10 per cent.

Meanwhile, drivers are also experiencing higher costs to repair and otherwise pay for their vehicles (and buy new ones) amid general inflation.

Just another reason to try and take public transit more often, especially as we move into the colder months when cycling and walking are less feasible options — at least the cost of the TTC is thankfully staying put, for now.

Lead photo by

Jeremy Gilbert

Latest Videos

Latest Videos

Join the conversation Load comments

Latest in City

Doug Ford reverses controversial Greenbelt sell-off in Ontario after scandal

Someone turned one of Toronto's speed enforcement cameras into a garbage bin

The CNE saw record-breaking attendance in 2023

One Toronto speed camera has pulled in a mind-boggling $3.6 million in just 17 months

Vehicles on Ontario highway fail to stop after striking woman who fell from overpass

The salmon run returns to Toronto rivers and here's how to see them jump in 2023

Lengthy wait times on delay-plagued TTC streetcar line have people fuming

The TTC will spend $10 million to curb out-of-control crime on transit