HOUSE INSURANCE OFFICE ONTARIO OFFERS $3.5 MILLION TO HOUSE HOUSING INSURERS ONLY IF THEY FILE CLAIMS, IT’S THE HOUR OF DECISION TODAY.
The House Insurance office is offering the $3 million incentive to homeowners to file claims if they are insured by a company whose owner or a family member owns the home.
The incentive is only available to homeowners whose property is insured at the federal or provincial level, the office said.
“We are offering this incentive in response to increasing consumer demand for the homeowners insurance programs, particularly for those who own and/or are homeowners at the provincial level,” said Peter Smith, a spokesman for the House Insurance Department.
The incentives are only available until March 31, 2019.
The offer comes just a day after a report by the National Association of Insurance Commissioners found the average Canadian home has been on the market for just three months.
The report also found the federal and provincial governments are spending less than the average in the first nine months of the year on insurance.
Insurance premiums in Ontario and British Columbia are currently at their lowest levels in five years.
“In the case of British Columbia, this will result in less expensive premiums over the long term,” Smith said.
The insurance office says the incentive will be in effect for the next three years.