Did you know that, in the province of Ontario, an insurance company can’t charge higher rates for certain historical data, such as credit history, but what they can do is reward you for good behavior?
Here’s a list of some of the historical criteria that cannot be taken be held against you in Ontario:
You credit history – while your credit rating can’t be used against you, it can lower your rate with some insurance carriers the lower your score, the lower risk you are and the lower your rate may go.
whether you own a credit card;
how long you have lived in your current home;
accidents where you are less than 25 per cent at-fault where the accident occurred on or after September 1, 2010;
whether your vehicle is owned or leased; and
whether there was a period of time where you had no automobile insurance coverage.