Kanetix, Canada’s online market for mortgage rates and car insurance comparison sites has proclaimed the results of its periodical car insurance study. This study was done mainly to highlight and spot the pricing inclinations of car insurance quotes in Ontario. The decrement of about 1.9% in lowest rates quoted for vehicle insurance in the year of 2009 as compared to the year 2008.
The study has also revealed that the net percentage of vehicles which were 6 years old had grown by 3% in the year 2009; however this growth mostly was at the expense of some new models that dropped over the same percentage. As car becomes older, the motorists begin to drop some optional coverage like collision and comprehensive resulting lower premiums. The vending of new models have been on decline for past couple of months as customers hold their present cars for longer.
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