The old adage “if a deal is too good to be true, it probably is” comes to mind after a warning from Toronto police about an auto insurance scam that’s making the rounds.
Investigators say they’ve received a number of complaints from victims who were duped by the promise of low annual insurance rates between May, 2025 and February, 2026.
Police say the suspects claim to be insurance brokers, and even provide a pink slip with a policy number from well-known insurance agencies after victims hand over their payments.
Unfortunately, the slips are fake, and investigators say many victims have only realized this after they’ve been involved in a crash, or were stopped by police while driving.
Police offer the following advice to avoid being a victim of fraud:
• only purchase car insurance directly through a licensed broker or reputable companies
• contact the insurance company directly using a phone number from the company’s official website to confirm the policy number
• avoid third-party sellers, and be wary of those offering cheaper insurance rates
• never pay for insurance upfront, as no insurance company will ask for cash or an e-transfer