Pontiac Sunfires lead pack in auto insurance spikes

by Kurtis Friesen

Many Pontiac Sunfire owners across the province are experiencing an increase in auto insurance rates.
The Insurance Bureau of Canada periodically surveys insurers about each model and vehicle year to determine premiums. Every year, an assessment is issued based on the frequency of claims. The IBC recently determined older Pontiac Sunfires have been involved in the most insurance claims and deaths in recent years. The rates have seen an increase in particular models because of the higher probability of having an accident.
The IBC has a six step process in determining auto insurance rates through a process called the Canadian Loss Experience Automobile Rating.
However, not all Sunfire owners are affected by this adjustment. Windsor resident Anne Pasut is an owner of a 2003 Sunfire and says she has received no increase or any notification from her insurance company of an impending increase.
“I am with Desjardins Financial Services,” said Pasut. “I haven’t had an increased insurance rate, not even anything in the mail either.”
In the case of the Pontiac Sunfires, the model year is the determining factor for raising rates.
The IBC issues overall statistics to insurance companies in order to inform determine low-risk and high-risk vehicles. However, insurance companies have a separate process once they receive the information.
“The insurance industry has a common vehicle rate group table,” said Glenn Cooper, senior manager at Aviva Insurance. “(This is) approved by the insurance regulator to represent the relative risk by vehicle model and year of accident benefits – injury to the occupants of the car in the event of an accident – of collision and comprehensive – theft, fire and other losses.”
The IBC reports the average auto insurance premiums in Ontario nearly double the average compared to Prince Edward Island, making it the highest in Canada.