Is Your Vehicle One of the Top 10 Most Stolen in Canada? How it Affects Auto Insurance Rates

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2005’s top 10 most stolen cars in Canada list is out. kanetix explains why the cars' popularity with thieves affects insurance rates & why it’s important to shop around.

The Insurance Bureau of Canada (IBC) recently announced their list of Canada’s top ten stolen vehicles in 2005. According to the IBC, the most stolen vehicles were:

1. 2000 Honda Civic SiR 2-door

2. 1999 Honda Civic SiR 2-door

3. 1996 4 wheel drive Chevrolet/GMC Blazer/Jimmy S Series 2-door

4. 1994 Honda Civic Si Hatchback 2-door

5. 1993 Volkswagen Corrado 2-door

6. 1995 Honda Civic Si Hatchback 2-door

7. 1992 Chrysler/Dodge Caravan and Voyager

8. 2002 All Wheel Drive Subaru Impreza WRX, 4-door

9. 1999 Volkswagen Golf GTI Hatchback 2-door

10. 1993 Honda Civic Si hatchback 2-door

Car theft costs everyone. The IBC also reported the theft of vehicles and their components costs Canadians annually about $580 million in insurance premiums.

“Coverage for theft is included under the ‘comprehensive’ or ‘specified perils’ part of your auto insurance policy,” explains Gregory Ellis, co-founder of http://www.kanetix.ca, “so as theft increases, especially for vehicles popular with car thieves, the part of the premium you pay for comprehensive/specified perils coverage is also likely to increase.”

Comprehensive/specified perils coverage is optional, so if someone includes it on their policy, part of determining their premium requires the insurer to assess the likelihood their car will be stolen. This includes a review of theft rates in the person's region and how frequently thieves are attracted to their car’s particular make and model. Because each insurer varies in how they calculate premiums, it’s important then that people shop around for the best price. No two insurers are alike.

Getting auto insurance quotes through http://www.kanetix.ca is easy, simple and a better way to shop. Visitors can compare quotes to see if there is an insurer who can offer them a better rate than what they are paying now. For drivers looking to buy a new car, compare rates between vehicles to see how much one vehicle costs to insure over another. It may help people decide which vehicle to buy.

About kanetix

Launched in October 1999, kanetix is Canada's leading 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 at http://www.kanetix.ca 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 top insurance providers.

For more information, please contact:

Gregory Ellis

Co-founder

(416) 599-9779, ext. 201

http://www.kanetix.ca

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