๐A recent report predicts a continued rise in car insurance premiums for 2024, attributing the increase to inflation and a surge in auto thefts. Ratesdotca's 2024 auto outlook reveals that Ontario has already approved rate hikes for around two dozen insurers in the first quarter, with some seeing up to a 25% spike. Daniel Ivans, Ratesdotca's insurance expert, highlights the unusual pace of these increases. The average annual premium in the Greater Toronto Area (GTA) is currently $2,391, and a 25% rise could result in an additional $600 annually for drivers.โ
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