Applied Systems has released the first-quarter 2025 results of the Applied Rating Index, showing both year-over-year and quarter-over-quarter increases in average premium rate changes for Personal Auto and Personal Property lines.
In Q1’25, Personal Auto premium rate change increased 13.2% compared to Q1’24. Quarter-over-quarter, premium rate change increased 2.2%.
All provinces saw year-over-year increases in Personal Auto, with Ontario recording the highest at 14.7% and Alberta the lowest at 12.1%. Quebec and the Atlantic Provinces saw increases of 14.0% and 14.2%, respectively.
All provinces except Alberta saw quarter-over-quarter increases. Alberta, Ontario, Quebec, and the Atlantic Provinces recorded changes of –1.7%, 4.5%, 2.0%, and 3.3%, respectively.
In Q1’25, the Personal Property premium rate change increased 5.0% versus Q1’24. It also rose 1.7% compared to Q4’24.
Personal Property lines saw year-over-year premium rate increases across all provinces except British Columbia. Alberta, Ontario, Quebec, the Atlantic Provinces, and Saskatchewan & Manitoba recorded increases of 3.4%, 5.7%, 9.6%, 4.1%, and 4.0%, respectively. British Columbia experienced a year-over-year decline of −5.9%.
All provinces except British Columbia and Quebec saw quarter-over-quarter increases. Alberta, Ontario, Quebec, the Atlantic Provinces, Saskatchewan & Manitoba, and British Columbia recorded changes of 2.9%, 1.0%, –1.0%, 1.4%, 0.8%, and –0.5%, respectively.
Steve Whitelaw, SVP and general manager of Applied Systems Canada, said, “Following a year of inflation, higher vehicle repair costs, rising auto theft, and severe weather driving up property claims, these macro trends are being reflected in the Q1 2025 Index results.
“The Applied Rating Index remains a vital tool for tracking rate changes and guiding pricing decisions as these and other cost pressures impact loss costs and in-turn rate movement within the Personal Lines market.”
