For the second quarter in a row, average Alberta car insurance rates decrease

TORONTO, January 15, 2010 - Today, Kanetix® (, Canada's online marketplace for insurance quotes and mortgage rates, released the results of its Alberta quarterly car insurance premium study. The study identified a 1.3 per cent average decrease in the lowest auto insurance rates quoted on Kanetix in Q4 2009 compared to Q4 2008.

This end of year decrease comes as no surprise. On November 1, 2009 an industry-wide reduction of premiums in Alberta, by 5 per cent, for mandatory basic auto insurance was implemented. The mandatory basic auto insurance includes Third Party Liability and Accident Benefits.

"While it is often easy to review and accept the renewal notice from your current insurer, especially if your premium decreased, it's important that drivers compare their rates with competing insurers every year," says George Small, Co-founder of Kanetix Ltd. "By comparing rates annually, drivers can review their coverages, explore all of the discount options available to them and see if there is a better rate available."

As an online auto insurance shopping service that provides real-time quotes from many well-known competing insurers, Kanetix makes it easy for drivers to shop around. Too often people assume that competing insurers offer the same rates; when, in fact, rates can vary wildly between providers. No two companies are the same and the company with the lowest rate when a policy was first purchased may not be the company with the lowest rate today.

While shopping at, drivers should keep the following tips in mind to help get the lowest possible Alberta auto insurance rate:

Consider discounts

There may be discounts that you are not already getting that you may be eligible to receive. For example, some insurers offer a discount if you change your tires seasonally saving you up to 5 per cent.

Think about raising your deductibles

The higher your deductibles the lower your premium. For example, policyholders with deductibles set to $500 could save up to 5 per cent by raising them to $1,000. Keep it affordable though, because this is how much you'll have to cover should you need to submit a claim.

Don't pay for optional coverage you do not need

Review your policy to see if there are optional coverages included in your current policy that you may not need. For example, if you drive an older car and your collision and comprehensive deductible is set to a dollar amount that is more than the value of your car, it may no longer make sense to: a) keep these coverages, or b) keep these coverages at the current deductible amount.

About the study

Intended as a tool to spot and highlight the pricing trends of car insurance, the Kanetix study is released quarterly. Kanetix believes this study to be an accurate reflection of what auto insurance consumers are seeing when they get their renewal notice from their current insurer, and what prices consumers see when they shop around for coverage. The study includes all drivers, regardless of their driving or insurance history, and is based on the lowest rate quoted, no matter which company provided it (e.g. direct writing companies or broker-based insurers).

The results of the study are determined by comparing the average lowest auto insurance premium quoted online for Alberta shoppers through Kanetix in Q4 2009 (October, November and December) with the average from the same period in 2008. The results, and resulting interpretations, are based on the profile 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.

About Kanetix

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.

For more information, visit, or contact:

Kanetix Ltd.

- 30 -

Back to top