DAILY NEWS Apr 16, 2012 7:53 PM - 0 comments

Ontario sees average car insurance rates go down 3.6% in 2012 Q1

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2012-04-16

Ontario witnessed the largest reduction in car insurance rates among the three provinces considered in Kanetix Ltd.’s latest quarterly, year-over-year review.

Customers saw rates go down 3.6% compared with 2011 Q1, notes a statement from Kanetix, an online insurance marketplace. Suggesting an early positive trend fueled by Ontario’s auto reforms in 2010, the decrease is the first in more than a year.

Quebec and Alberta reported less dramatic rate decreases of 1.6% and 1.3%, respectively.

Kanetix reports that a growing number of customers in all three provinces are taking advantage of discounts, including making greater use of multi-line discounts.

In Ontario, 20% more shoppers indicated a willingness to bundle auto and home insurance. Quebec saw a 7% growth in multi-line discounts, while Alberta saw a 9% increase.



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