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Nova Scotians may see slight increase with insurance reforms

HALIFAX - Changes to Nova Scotia's auto insurance could cost the average driver up to $7.50 extra a year in premiums.

HALIFAX - Changes to Nova Scotia's auto insurance could cost the average driver up to $7.50 extra a year in premiums.

The province's Utility and Review Board has estimated the cost of giving drivers more flexibility in choosing the type of auto insurance they want.

Drivers would have a few options, including enhancing their insurance for an annual cost of between $6 to $7.50 or scaling it back to basic coverage.

Finance Minister Graham Steele asked the board to outline the costs of the changes after receiving a report last spring that recommended giving consumers more choice in their policies.

CFN Consultants Inc. said that developing such an option would give consumers choices they don't have now because the system prohibits lawsuits and places a cap on soft-tissue injuries.

The Finance Department is looking at the board's findings and a spokeswoman says Steele expects to bring in reforms this fall.

 
 
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