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Ontario auto rates increased 9.5% on average in 2010 Q4: Kanetix


January 12, 2011   by Canadian Underwriter


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Personal auto insurance quotes in Ontario increased 9.5% in 2010 Q4, while decreasing 4.9% and 0.4%, respectively in Quebec and Alberta when compared to 2009 Q4, reported kanetix.ca.
Kanetix’s rate review is determined by taking an average of all the quotes upon which shoppers acted in 2010 Q4 and comparing that to the average from the same period in 2009.
In Ontario, reforms came into effect in 2010 Q3, which saw many insurers decrease rates, reported kanetix.ca. But due to increases implemented prior to the reforms, auto insurance consumers could still see rates higher than what they were paying in 2009 when they got their renewal, a kanetix release says.
In Quebec, kanetix.ca points to more drivers opting out of optional coverages like collision and comprehensive, as well as a 3.5% increase in drivers participating in a roadside assistance program, as contributors to the nearly 5% decrease in quoted rates.
The 0.4% decrease in 2010 Q4 in Alberta is consistent with the industry-wide reduction of premiums implemented on Nov. 1, 2010.


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