Auto insurance rates
When we write insurance policies for our members, it’s not just about the vehicle. We also think about people like you behind the wheel so we can customize each policy to our members’ needs.
To determine our rates, we consider things like:
Driver experience
Number of years driving, any accidents, traffic convictions, or driving infractions.
Vehicle usage
How much and where you drive.
Coverage
The type and amount of insurance coverage you buy.
Type of vehicle
Your vehicle’s make, model, and year.
Wawanesa provides auto insurance coverage from coast to coast through our broker partners.
What else drives your auto insurance rates?
Many external factors also influence the cost of insurance. Industry-wide, these are some of the reasons you’re seeing rising costs:
- An increase in the number and severity of auto claims, including those caused by severe weather events like floods, hailstorms, and wildfires.
- A significant increase in fraud and auto theft across Canada.
- The rising cost of auto parts and repairs as vehicle technology becomes more complex.
- Increasing costs for medical services like physiotherapy and chiropractic care following an auto accident.
- Supply chain challenges causing longer auto repair wait times.
$900 million
paid in auto member claims annually
Wawanesa is a Canadian mutual company, owned by its members – like you. We use the money we collect in premiums to pay member claims, provide excellent service, and support our communities.
What you can do to keep insurance costs affordable
Even when you see rising auto rates in the insurance industry, there are still options that can potentially lower how much you pay. Your best first step is a conversation with your insurance broker where you can review and discuss (Subject to regional availability and eligibility criteria):
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Does your coverage reflect your current vehicle usage?
If you’re driving less or parking your vehicle seasonally, you could be eligible for reduced costs.
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Do you want to revise your coverage or deductibles?
Consider increasing your deductible to reduce annual costs, or remove coverages you don’t want or need, such as glass or hail coverage.
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Do you have more than one policy with Wawanesa?
If your family has more than one insurance policy with Wawanesa, you could be eligible for savings through a multi-vehicle discount or a multi-product discount when you bundle your policies.
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Are you protecting your vehicle from theft?
Park in a covered garage if possible, keep doors locked at all times, never leave your vehicle unattended while it’s running, and install an alarm system if your vehicle does not have an immobilizer. In some regions, an anti-theft recovery device could qualify you for a discount.
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Are you considering changing your vehicle?
The make, model, and year of your vehicle influence your insurance costs, as some are safer than others or are stolen more frequently. Learn more.
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Do you want to save by consenting to a soft credit check?
In some regions, we offer guaranteed auto insurance premium discounts to members who consent to a soft credit check. Learn more.
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Are you practicing safe driving?
Safe driving is good for everyone. Not only does it save lives, but it also saves your wallet because driving convictions and license suspensions significantly increase your insurance costs.
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Do you use snow tires?
In some regions, this could qualify you for a discount.
Your Wawanesa Insurance broker is available to answer your questions and help you manage your coverage.
Are you in Ontario?
Safe driving tools, like our Drive Change telematics program, can provide insights to improve your driving habits and could make you eligible for discounts.
Do you need to make a claim? We’re here to help 24/7.
or call us at 1-844-929-2637