Business Report: Auto insurance rates soaring

Drivers are dealing with soaring insurance rates in parts of the GTA. Plus, customer satisfaction is slipping for Air Canada and WestJet, and a new version of Google will be powered by AI. Richard Southern explains.

[richboy]

Get your car rear ended and ask for $40, 000 from the insurance company. That’s the only way to recover those nasty premiums

[vasilytanygin]

I remember times when insurance was expensive comparing to monthly gas cost.

[kdejvviihd]

Vote for a mayor that wants more bike lanes. Insurance goes up because they have the power and leverage to ask for more. When people have safe and good alternatives like riding an Ebike, insurance companies lose thier leverage over the people. 70% of drivers today would be totally fine or better with an Ebike. The great drop in insurance rates and gas prices happen when bike lanes are good enough that more higher income professionals use them with fancy fun Ebikes. Bicycle theft is also much less of an issue because just in 2022 and 2023 we got new bike locks that simply can not be cut no matter what tools a thief could have + Also saving $1000/m is not a bad deal. Be brave make the change and you will be happy.

[carlospulpo]

AI should be a wake up call to the governments that the current system of taxing people based on employment as a source of revenue is not likely to be viable in the future. On one hand you have a economic system that favors the least number of human based assets doing the work as they are expensive. However, the tax system is based on generating an ever increasing revenue from the income stream of the humans assets(workers) while robots , AI and other forms of income producing work enabling assets are untaxed at that level.

They are in direct opposition to each other!

[thehazelnutspread]

They can't justify it with accident reports. This is just ONE MORE way to get you to stop driving and be held hostage in your little 15 minute GHETTO.

[RiseAgainstDisciple]

Get your policy updated with your COVID vaccine information for lower quotes

[sinthujankethes]

The supposed car drivers who still want Toronto to be car oriented still don't realize with more drivers on the road will allow auto insurance companies to jack rates for everyone, regardless of your driving past. You are basically paying through the nose for the privilege to drive a metal box that society has mandated that's it's a liability on our streets. There has never been a greater financial incentive to support better bike lanes, public transit and walkable city's than ever to actually give people the freedom to choose not to drive and not bankrupt yourself. The whole driving means you are free was the marketing the car companies sold 100 years ago and you are still falling for it by paying them hand over fist every year and you don't even realise it. Any selfish driver that complains about bike lanes and transit priority deserves the exorbitant auto insurance they will face because of the lack of options they prevent and just prefer to keep the status quo to keep the car industry afloat with your money.