Ontario Quoted Auto Rates Soar in 2010 Q1: Kanetix
April 13, 2010
Auto rates quoted in Ontario in 2010 Q1 increased by 11.6% over 2009 Q1 quoted rates, according to Kanetix’s quarterly review of auto insurance. The increase on the quoted rates “suggest that Ontario drivers are feeling the effects of rate increases approved in 2009,” said a Kanetix release. “Reforms have been announced which, it is anticipated, could slow or possibly even reverse rate increases.”
Quebec drivers obtained quotes that were 4.6% lower this year than last. About 6% opted to see how much could be saved with a two-year policy commitment, and 7% more quotes were obtained by shoppers willing to bundle their home and auto insurance, making them eligible for a multi-line discount.
In Alberta, quoted rates decreased 1.6%. “This result is consistent with the industry-wide reduction of premiums implemented on Nov. 1, 2009 for mandatory basic auto insurance,” a Kanetix release says.