Auto Insurance Rate Approvals

Auto insurers need approval from FSRA to change the rates they use to calculate premiums for their customers. Insurers seek approval to change their rates because their view of risk and projected costs change.

FSRA’s role as the auto insurance rate regulator is to ensure that a company’s proposed rates are just and reasonable and not excessive. An insurance company also needs to charge enough to cover its operating expenses, pay future claims obligations and earn a reasonable profit.

A customer’s premium can change because of an insurer’s approved rate change overall. Premium changes can also be a result of changes in the customer’s own circumstances, such as moving to a new location, purchasing a new vehicle or a speeding ticket.

Learn more about auto insurance and factors that impact your premium at FSRA’s Auto Insurance Consumer Hub.

Rate approvals database

The Rate Approval database provides consumers with timely information about approved rate changes for every auto insurer in Ontario.  Search the database for rate approvals.

Approvals are updated regularly and date back to January 1, 2018.

FSRA encourages consumers to use the database as a signal of a potential rate change coming their way. Consumers can decide whether to contact their insurer for more information, shop around for a better deal, or both.

Emergency rate approvals – COVID 19

We continue to protect the interests of consumers by monitoring auto insurance rates and changes in driving during the pandemic. Since the implementation of our Emergency Filing Process, auto insurers have reported more than $1.3B in consumer relief in response to the COVID-19 emergency. View private passenger automobile (PPA) emergency relief.

Concerns or complaints about your premium or rate?

  • contact your insurance agent, broker or company to ask about your policy and the price you pay
  • shop around for a better price. You are under no obligation to accept your current insurer’s renewal offer, and you may find better prices with another company
  • file a complaint to FSRA