FREDERICTON – New Brunswick’s consumer advocate for insurance says drivers continue to benefit from competition among companies as the average amount they paid to insure their cars last year fell by about $16.
Ronald Godin says the average insurance rate of $704 in 2013, down from about $720 the year before, is the lowest in Atlantic Canada.
When his office started in 2005, Godin says a majority of the complaints he received were about premiums, but now most calls are about claims and service.
Godin’s office will be closed at the end of this year as the province creates a Financial and Consumer Services Commission.
He says he doesn’t know how that will impact the monitoring of insurance rates.
While no records are kept of average home insurance premiums, Godin says rates are on the rise because of increased claims for storm and water damage, and a move by insurance companies to provide coverage for the replacement value of homes.
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