Canadian Underwriter

Auto insurance rates down in Ontario and Alberta, up in Quebec in Q4 2012

January 23, 2013   by Canadian Underwriter

Print this page

Auto insurance rates in Ontario and Alberta decreased in the  fourth quarter of 2012 over the same period the previous year, but increased in Quebec, suggests review from comparison website

Car accidentComparing rates in Q4 2012 with the same quarter of 2011, Kanetix analysis suggests a  3.3 % rate decrease in Ontario, 8.1% decrease in Alberta and 6.8% increase in Quebec.

“This marks the fourth consecutive quarter—for both provinces—that rates were lower than the year previous,” notes a statement from Kanetix.

“While a number of factors contribute to a decrease in rates, Kanetix’s results find that more drivers are taking advantage of winter tire discounts, roadside assistance discounts, group discounts, as well as online comparison services.  Quebec saw an increase in quoted rates, which could suggest drivers might not be aware of discounts they are eligible for.”

The company’s quarterly review includes all consumers who found a quote and took the next step to purchase insurance on its website. The site then takes an average from all quotes, regardless of company, for its analysis. The results are dependent upon the information that consumers provided to the website on their driving history and other relevant information.