kanetix releases study results that show auto insurance premiums can vary by over $900

TORONTO, November 9, 2006 – Today, kanetix (www.kanetix.ca), Canada's insurance marketplace, released results of a recent study that shows auto insurance premiums can vary by over $900 for the same coverage.

Using Ontario as an example, kanetix looked at over 8,000 recent online auto insurance quotes provided to visitors with no previous tickets, accidents or claims. Each of these visitors was quoted a premium from about 10 of Canada’s most competitive insurance providers. The lowest and highest premium from each visitor’s quote was then recorded and the average difference in premium was calculated. The results showed that premiums differed on average by over $900.

“The number one reason most consumers don’t shop around for their insurance is because they believe the price they pay with their current insurance company is the same price they would pay anywhere else,” explains Gregory Ellis, Co-founder of kanetix. “But the fact is prices can vary greatly and only shopping around will ensure you are paying the lowest price.”

Consumers looking to take advantage of the current insurance market should start by comparing quotes from a variety of insurers. At www.kanetix.ca/auto-insurance, kanetix offers consumers a better and quicker way to shop for auto insurance. Getting quotes through kanetix is straightforward and the quotes are displayed in an easy-to-read and compare chart format.

About kanetix
Launched in October 1999, kanetix is Canada's only national, online insurance marketplace. The kanetix insurance information and shopping service brings consumers and insurance companies together in a one-stop shopping environment. Each day, thousands of consumers visit the kanetix website to compare insurance quotes from a variety of Canadian insurance companies. Users can select the insurance quote of their choice and choose to complete the application for coverage online or purchase their policy over the phone.

In addition to the insurance marketplace, kanetix is the leading provider of online insurance quotation technology and develops online quotation systems and websites for some of Canada's leading insurance providers.

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For more information, please contact:

Gregory Ellis
Co-founder, kanetix
1-888-854-2503
www.kanetix.ca