Page 40 - CU-20200201.pdf

HELPING CANADIANS
UNDERSTAND RISING INSURANCE RATES
$1.9 billion
in insured losses over 2018 due to severe weather across Canada Source: Insurance Bureau of Canada, 2019
+
60%
steady increase in housing prices in large Canadian cities such as Vancouver and Toronto, from 2010 to 2016
Source: CMHC, 2018
$30 billion+
per year spent across the P&C industry to manage and respond to fraudulent activity
Source: Insurance Information Institute, 2017
vs.
in average costs for maintenance and repair of one GMC vehicle (2007 vs. 2014)
Source: Consumer Reports, 2017
$5.2 billion
per year on average claimed for home insurance in Canada from 2010 to 2013
Source: Insurance Bureau of Canada, 2015
It’s a tough time for Canadians as the cost of home and auto insurance is going up. In a hard market, brokers play a critical role in helping consumers understand their options. Working with our broker partners, our goal is to educate Canadians with easy-to-understand information so they can make smart, confident decisions. Go to economical.com/rateincreases to learn why rates are going up, and share the link with others.
Insurance can be better economical.com/rateincreases
PROPERTY | AUTO | BUSINESS
Economical Insurance includes the following companies: Economical Mutual Insurance Company, Family Insurance Solutions Inc., Sonnet Insurance Company, Petline Insurance Company. ©2020 Economical Insurance. All Economical intellectual property belongs to Economical Mutual Insurance Company. All other intellectual property is the property of their respective owners.