Jeune magique et intellig
2008-08-11, 10:28 PM
Drivers from Moncton, Saint John and the Acadian Peninsula in northeastern New Brunswick can expect their insurance rates to go up.
The new fees will be up to 10 per cent more than what drivers are currently paying, New Brunswick consumer advocate Ronald Godin said.
The changes are a result of a new system that is dividing the province into 11 regions based on the risks drivers face. The province had previously been divided into four regions.
Most companies that are raising rates, however, are only hiking them by a few per cent, Godin said.
Drivers will find out when their insurance is up for renewal whether their rates will increase.
The change won't mean more money for the insurance industry, because rates in other parts of the province are going down, Godin said.
About 114,000 drivers will face an increase while 266,000 drivers can expect to see their rates decrease.
The rate changes make sense and are fair to consumers, Godin said.
"You pose a greater risk if you are in a city like Moncton as opposed to a rural community outside of Woodstock," Godin said. "The reality was insurance risks were different in different parts of the province."
The changes to the insurance industry were introduced by the current Liberal government.
The new fees will be up to 10 per cent more than what drivers are currently paying, New Brunswick consumer advocate Ronald Godin said.
The changes are a result of a new system that is dividing the province into 11 regions based on the risks drivers face. The province had previously been divided into four regions.
Most companies that are raising rates, however, are only hiking them by a few per cent, Godin said.
Drivers will find out when their insurance is up for renewal whether their rates will increase.
The change won't mean more money for the insurance industry, because rates in other parts of the province are going down, Godin said.
About 114,000 drivers will face an increase while 266,000 drivers can expect to see their rates decrease.
The rate changes make sense and are fair to consumers, Godin said.
"You pose a greater risk if you are in a city like Moncton as opposed to a rural community outside of Woodstock," Godin said. "The reality was insurance risks were different in different parts of the province."
The changes to the insurance industry were introduced by the current Liberal government.