Coronavirus: Ontario allows auto insurance companies to provide rebates due to pandemic

Click to play video: 'Coronavirus outbreak: Ontario government looking for relief from auto insurance industry' Coronavirus outbreak: Ontario government looking for relief from auto insurance industry
WATCH ABOVE: Ontario Minister of Finance Rod Phillips told reporters on Thursday that he had spoken recently with representatives of the auto insurance industry to convey the message that the government expects the industry to adjust their prices in light of the "unprecedented" situation presented by COVID-19/ – Apr 9, 2020

TORONTO – Ontario is making a regulatory change that will more easily allow auto insurance companies to provide breaks to their customers because of the COVID-19 pandemic.

The change will allow insurance companies to provide auto insurance premium rebates to consumers for up to 12 months after the emergency has ended.

READ MORE: Coronavirus: Ontario finance minister calls for auto insurance breaks during pandemic

Finance Minister Rod Phillips says he will be watching to see companies’ responses.

[ Sign up for our Health IQ newsletter for the latest coronavirus updates ]

Phillips says Ontario isn’t dictating a certain percentage of rebate for companies to provide, but he says it needs to be “commensurate with the scale of duress that Ontario families are under.”

READ MORE: Coronavirus: Chin-ups at west Toronto park earn man $880 fine

Story continues below advertisement

He says some companies have already done this, and the province wants to make it as easy as possible for drivers to receive discounts because so few people are driving right now.

The NDP has called on the Ontario government to mandate a three-month, 50 per cent discount on auto insurance.

Sponsored content