In accordance with measures announced by the Québec government, effective January 1, 2027, the tax rate on insurance premiums in Québec will increase from 9% to 9.975%.
What does this mean for you?
This change applies to all property and casualty insurance products that are currently subject to the tax, including automobile, home, and business insurance.
It is important to note that this increase is the result of a government tax measure and does not represent an increase in the insurance premium charged by your insurer.
What will the impact be?
Here are a few examples:
Annual Premium | Current Tax (9%) | New Tax (9.975%) | Difference |
1 000 $ | 90,00 $ | 99,75 $ | 9,75 $ |
2 000 $ | 180,00 $ | 199,50 $ | 19,50 $ |
4 000 $ | 360,00 $ | 399,00 $ | 39,00 $ |
Monthly Payments and Renewals
Based on the information currently published by the tax authorities, the new rate will apply to premiums paid on or after January 1, 2027.
If you are enrolled in a monthly payment plan or if your insurance policy renews around that date, the amounts withdrawn may be adjusted to reflect the new applicable tax rate.
Our Commitment
Our team is currently making the necessary adjustments to ensure a smooth transition and minimize any administrative impact on our clients.
For any questions, do not hesitate to contact our brokers : 1 866 961-3553