Toronto, Ontario – A new report by online insurance marketplace Kanetix found that auto insurance rates dropped slightly in Alberta and Quebec in the first quarter of 2010, compared with the same time period in 2009, but increased almost 12 per cent in Ontario.
In Alberta, rates quoted decreased by 1.6 per cent, consistent with the industry-wide reduction of reduction of premiums implemented on November 1, 2009 for mandatory basic auto insurance. The company said that almost three-quarters of shoppers getting quotes indicated that they change their tires seasonally, taking advantage of a new discount.
In Ontario, an increase of 11.6 per cent was observed, which Kanetix suggests is a result of rate increases approved in 2009. Reforms have been announced which could slow or possibly even reverse rate increases, but changes are not expected to come into effect until the second half of 2010.
Quebec drives obtained quotes that were 4.6 per cent lower than in the first quarter of 2009.