Kanetix.ca's quarterly, year-over-year review of car insurance trends
sees drop in rates
TORONTO, July 12, 2012 /CNW/ - Kanetix® (www.kanetix.ca) announced today the results of its quarterly review of car insurance
rates in Ontario, Alberta and Quebec. For the second quarter in a row, Ontario car insurance rates quoted to shoppers decreased; in Q2 2012 rates were 6.2 per cent lower
than in Q2 2011, and in Q1 2012, they were 3.6 per cent lower than Q1
Alberta car insurance rates decreased 4.1 per cent and in Quebec rates
increased 6.9 per cent. The increase in Quebec is largely influenced by
collision and comprehensive coverage options; significantly more
shoppers this year included these two optional coverages in their rates
compared to last year.
Have your rates gone down?
Janine White, VP of Kanetix.ca's Marketplace urges insurance consumers to shop around: "Consumers tend
to comparison shop when their rates go up, but are less inclined to do
so when their rates decrease. However, when rates are trending down
there's a great opportunity to save money because rates do not
uniformly change across all insurers at the same time; the company with
the lowest rate at one time may not be the company with the lowest rate
"Consumers should take a look at what they're paying and ensure they
have the best policy for the best price," continued Ms. White. "The
more quotes a driver gets, the more choices they'll have, which can
result in substantial savings."
20,000 drivers could save on their car insurance today
Kanetix's free Insurance Rate E-lert service notifies shoppers when a lower rate is available. Based on the results
of this opt-in offering, Kanetix estimates that nearly 20,000 drivers who comparison shopped their auto
insurance needs in the first three months of 2012 would today find a lower car insurance rate.
"Comparison shopping empowers consumers because it gives them options,"
said Ms. White. "Kanetix has provided millions of consumers with online insurance quotes for
over 12 years and consumers can rely on Kanetix.ca's car insurance comparison service to provide them with real choices
and accurate rates from many of Canada's best insurers."
About the quarterly review
Kanetix's quarterly review of car insurance rates is intended as a tool to spot
and highlight car insurance pricing trends. 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
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
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 further information:
visit Kanetix.ca or contact:
(416) 599-9779, ext. 343