Incentive for people who pay car insurance

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For years, insurance companies have been gouging Ontarians with little to no consequences. I propose that our government look at a solution to this to provide incentive for Ontario car owners and operators.

We pay insurance monthly or yearly. If we claim, our rates go up. If we don't claim sometimes (but not always) we are "rewarded" with a decrease in our insurance rates.

I propose that an act be put in place wherein a driver who has a clean driving record for ten years receives a rebate of premiums paid. For ease of mathematics, let's say you pay $1000 a  year for vehicle insurance. If you don't claim, at the end of the 10 years ($10,000 paid), you receive a cashback bonus of $5000. If you drive a further 10 years with no claims, you receive the same 50% back on what you have contributed.

I feel this will give drivers clear incentive to drive safely. The way it stands now, the only winners are the insurance companies who arbitrarily charge what they will and we have no options if we wish to drive. Time for insurance companies to give back to the people who pay their bills!