Drivers in Ontario will soon be paying less to get behind the wheel.

Auto insurance rates in the province will drop by one per cent, the Canadian Press reported on Thursday. They cited a government source with the information.

The provincial regulator will make the official announcement later in the day and it will take effect in September. Drivers who are renewing their existing policies or applying for new ones will qualify for the lower rates.

 The source said the reduction is possible because the market has stabilized amid government reforms.

In April, car insurance quote firm Kanetix said auto insurance rates jumped by nearly 12 per cent in Ontario in the first three months of this year.