Toronto, ON, May 01, 2025 (GLOBE NEWSWIRE) — Applied Systems® today announced the first quarter of 2025 results of the Applied Rating Index™, the Canadian insurance industry’s premium rate index. In Q1 2025, average premiums for both Personal Auto lines and Personal Property lines increased year over year. Quarter over quarter, premium rate change increased for Personal Auto and increased for Personal Property compared to Q4 2024.
For Personal Auto, all provinces experienced an increase year over year, with Ontario seeing the highest at 14.7% and Alberta the lowest at 12.1%. For Personal Property lines, all provinces except British Columbia experienced an increase in premium rate change year over year. Quebec saw the highest premium rate change at 9.6% and British Columbia was the only province to experience a decline in rates at an average of -5.9%.
Key findings for Q1 2025 include:
- Personal Auto: In Q1 2025, Personal Auto premium rate change increased 13.2% versus Q1 2024. Personal Auto premium rate change increased 2.2% versus Q4 2024.
- Personal Property: In Q1 2025, Personal Property premium rate change increased 5.0% versus Q1 2024. Personal Property premium …