Many auto insurance customers of Aviva Canada in Ontario will be seeing their premiums drop upon renewal this year, as the insurer adjusts costs based on reduced claims activity during the pandemic.
Customers can expect their auto insurance premiums to drop as much as 20% when they renew on or after June 15, 2021. This 20% reduction is on top of the 5% reduction Aviva previously introduced last August.
Aviva also said in a release that the new reduced premium will also apply to new customers from May 01, 2021 onwards.
“We continue to see a reduced level of claims in Ontario, and we are passing these savings on to our customers,” said Aviva Canada managing director of personal insurance Phil Gibson. “This is the second time we will reduce our personal auto rates for Ontario customers since the start of the pandemic.”
The insurer stated that customers do not need to take any additional action for the premium reduction; the reduction will automatically take effect once they either renew their policies, or apply for a new one.
Aviva also highlighted that last year, it offered $147 million in insurance relief, through measures such as premium reductions and payment deferrals.