New data from global software provider, Applied Systems shows that personal auto and personal property insurance premiums rose across the country year-over-year at the end of the first quarter of 2025.
Notably, according to the Applied Rating Index, Q1 2025, only British Columbia personal property lines insurance experienced declines, including a 5.9 per cent decline in rates, year-over-year and a 0.5 decrease, quarter-over-quarter. Quebec enjoyed a one per cent decline, quarter-over-quarter in property lines and Alberta personal auto rates declined 1.7 per cent, quarter-over-quarter. Premiums across all other segments increased.
“For personal auto, all provinces experienced an increase year-over-year, with Ontario seeing the highest at 14.7 per cent and Alberta the lowest at 12.1 per cent. For personal property lines, all provinces except British Columbia experienced an increase in premium rate change year-over-year,” they write. “Quebec saw the highest premium rate change at 9.6 per cent and British Columbia was the only province to experience a decline in rates at an average of -5.9 per cent.”
On average, personal auto premiums increased 13.2 per cent when compared to the first quarter of 2024, or 2.2 per cent when compared to the previous quarter ending in December 2024. Personal property coverage, meanwhile, increased five per cent year-over-year and 1.7 per cent quarter-over-quarter.
