TORONTO, May 23, 2006 - As part of Canada Road Safety Week, police in Ontario gave out hundreds of tickets last weekend. It's been reported that over 800 were handed out, mostly for speeding. If you were stopped and ticketed by the police this past long weekend, what can you expect when it comes to your auto insurance?
"Many people have visions of huge auto insurance rate increases," explains Gregory Ellis, Co-founder of Kanetix. "but for most this is often not the case. It all depends on your insurer."
To illustrate the differences between insurers, online quotes were obtained this week for a 34 year-old person in Toronto, driving a 2004 Toyota Corolla. First, quotes were obtained for this driver with a clean driving history then, with a newly added minor speeding ticket.
Ten insurers provided instant online quotes in both scenarios and the following is a summary of the results:
- Four out of 10 quotes did not change with the addition of a minor speeding ticket.
- Four out of 10 quotes increased by 4-6 per cent (about a hundred bucks) with the added speeding ticket.
- Two out of 10 quotes increased by almost 20 per cent.
An increase in rates is often the result of a loss of a discount which, with a ticket, the driver no longer qualifies for, like a conviction-free discount or good-driver discount. So if you have just been caught speeding, fear not-even if your current insurer raises your rate, you can still get a good rate on your car insurance elsewhere. The secret is to shop around and compare rates from several insurers. Don't assume that your current policy is the best deal.
At www.kanetix.ca/auto-insurance, Kanetix offers consumers a better and quicker way to shop for auto insurance. Getting quotes through Kanetix is straightforward and the quotes are displayed in an easy-to-read and compare chart format.
Launched in October 1999, Kanetix is Canada's leading national, online insurance marketplace. The Kanetix insurance information and shopping service brings consumers and insurance companies together in a one-stop shopping environment. Each day, thousands of consumers visit the Kanetix website to compare insurance quotes from a variety of Canadian insurance companies. Kanetix visitors can select the insurance quote of their choice and where available, choose to complete the application for coverage online or purchase their policy over the phone.
In addition to the insurance marketplace, Kanetix is a leading provider of online insurance quotation technology and develops online quotation systems and websites for some of Canada's leading insurance providers.
For more information, please contact: