Archive for May, 2010

Effective September 01,2010, changes are coming to auto insurance here in Ontario. Additional accident benefit choices will allow you to customize your policy to suit your needs. These choices will give you more control over the price you pay for your insurance policy.

Price will vary based on the benefits you purchase. Rates will not be going down. These changes will stabilize the premiums in Ontario Only, not reduce.

These reforms to your policy take place September 01 2010. Your policy will remain unchanged until your next renewal. At that time , you will be provided with more information from your Insurance Company on the changes and your options. Feel free to contact our office for any information that is unclear or you wish to have clarified. It is important you understand your options and how your choices will effect your coverage.

For General information you can call our office or search the web sites of the Insurance Bureau of Canada www.ibc.ca or The Financial Services Commission of Ontario www.fsco.gov.on.ca

Changes to your Auto Insurance will give you more choice and will stabilize the price you pay on auto insurance not reduce prices you pay.

Expo Insurance Brokers Inc

Harmonized Sales Tax (HST) is coming into effect on July 1st 2010 here in Ontario. Several clients have called into our office with questions about how the HST will affect their insurance premiums.

The HST will not affect property or automobile premiums. The 8% Provincial Sales Tax (PST) will remain on property while automobile premiums will continue to be exempt.

Details as to all items that will be effected by the new tax can be found at http://www.rev.gov.on.ca/en/taxchange/index.html

Have a fantastic day

Expo Insurance Brokers