Ontario consumers report decrease in auto rates

A quarterly review by Kanetix shows Ontario car insurance rates reported by shoppers decreased for the second quarter in a row.

Ontario rates were 6.2% lower in 2012 Q2 than in the first quarter of 2011, and 3.6% lower in 2012 QI than in the same quarter a year earlier, Kanetix reports.

In  2012 Q2, car insurance rates in Alberta decreased 4.1% while they increased 6.9% in Quebec, notes the company statement. The Quebec increase is largely influenced by significantly more shoppers including collision and comprehensive coverage options in their rates compared with last year.

“Consumers should take a look at what they’re paying and ensure they have the best policy for the best price,” says Janine White, vice president of Kanetix.ca’s Marketplace. “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.”