Auto insurance rates decrease in Ontario, Quebec and Alberta
Kanetix's quarterly, year-over-year review of car insurance trends finds first decrease in Ontario prices in more than a year.
TORONTO, ON, April 16, 2012 - Kanetix® (www.kanetix.ca) announced today the results of its quarterly review of car insurance rates in Ontario, Quebec and Alberta. The study showed that all three provinces saw a decrease in auto insurance rates compared to Q1 2011. Ontario saw the largest change with a 3.6 per cent decrease in rates, followed by Quebec (1.6 per cent), and Alberta (1.3 per cent).
The study also shows that a growing number of customers in Ontario, Quebec, and Alberta are taking advantage of discounts, which could help them find a lower rate.
Kanetix's quarterly review of auto insurance rates is intended as a tool to spot and highlight the pricing trends of car insurance. Kanetix believes this to be an accurate reflection of what consumers are seeing when they get their renewal notice, and what they see when they shop around. The study includes all shoppers who, regardless of their driving or insurance history, found a quote and took the next step to purchase. An average is taken, from these quotes, no matter which company provided the quoted rate (e.g. direct writing companies or broker-based insurers).
These drivers are doing more than just kicking the tires, they are in the market for auto insurance at the time they are comparison shopping.
The results, and interpretations, are based on the information as entered by the shopper and may not represent their accurate driving profile or vehicle data. As such, Kanetix can make no representation or warranty, either expressed or implied, as to the accuracy of this information.
Launched in October 1999, Kanetix was Canada's first online insurance marketplace and today provides over a million quotes per year to consumers looking for insurance, as well as comparisons for mortgage rates and credit cards.
The Kanetix comparison service is a one-stop shopping environment for consumers. Each day, thousands visit the Kanetix website at www.kanetix.ca to comparison shop their various financial needs. Shoppers choose what they want to compare, obtain a quotation and complete an online application or, with the help of Kanetix connect with the provider to purchase or apply for the product over the phone.
Through its Software as a Service team, Kanetix is also the leading provider of online insurance quotation technology, developing online quotation systems, mobile solutions, actuarial tools and websites for many of Canada's largest insurance brands.
For more information, visit www.kanetix.ca or contact: