Kanetix Review

Compare insurance providers, their policies, and their rates all in one spot

WRITTEN BY
Priya Correia
Updated August 26, 2020


RATING

Kanetix helps Canadians compare insurance providers, their policies, and their rates all in one spot. Rather than having to sift through every insurance company individually, Canadians can perform a quick search on Kanetix’s online marketplace to make finding and picking a policy quick and easy. Kanetix promises to help streamline the search for an insurance policy while also saving you money. 

Let’s take a closer look at Kanetix to help you determine if this is the right platform to begin your search for an insurance policy. 

How Does Kanetix Work?

With Kanetix, you can search and compare more than 50 Canadian insurance companies and their policies in one snapshot. In addition to providing convenience, Kanetix is also designed to help consumers save on their next policy by quoting some of the lowest rates available. 

To start the process, you’ll be asked to complete a quick questionnaire based on the exact type of policy you are looking for (ie. auto, home, or life insurance). Based on the answers you provide, Kanetix will populate a number of rates from their pool of insurers. With dozens of policies and providers to choose from, your chance of getting the lowest rate out there is pretty good. 

Then, choose the rate and policy that you think is a good fit for you, and start the application process online with the help of a trusted advisor. 

Types of Insurance Kanetix Offers

Kanetix offers a wide range of insurance types, including the following.

Car Insurance Policies 

Car Insurance. To protect yourself, the occupants and contents of the vehicle, and to protect against liability if a collision with another vehicle was to occur, you need car insurance. Insurers will take a number of things into consideration that will influence your quote, including the following:

The following information is needed to make sure your quote is accurate:

  • Your age
  • Your gender
  • Your location
  • Type of license you have
  • Driving and accident history
  • How the vehicle is used
  • Annual mileage
  • Type of car insurance coverage required

Vintage and classic car insurance. Classic cars are defined under this policy as those 25 years or older. The car must not be driven daily, and the value of the vehicle cannot be any more than $150,000. This insurance policy will consider your age, driving history, location, age of the car, number of kilometres driven during the year, and whether or not the car has been modified. 

RV and travel trailer insurance. Save on RV insurance to offset the cost of your RV. Take out a year-round policy to protect yourself from liability and to cover any damage, even if you only use the vehicle during warmer months. This type of policy can protect your investment and give you peace of mind. Factors considered for RV insurance are the weight, location of the RV, and what it’s used for.

Motorcycle insurance. Much like a typical auto insurance policy, your motorcycle insurance policy will take into consideration your age, location, riding experience, make and model of the motorcycle, and the type of license you have to operate it. 

Home Insurance Policies

Home insurance. If you own a home and it’s mortgaged, you’ll need a home insurance policy. Even if you don’t have a mortgage, home insurance will protect you, your family, and your belongings. It will also protect you against any liability. Considering the magnitude of this investment, protecting it with a home insurance policy is a smart move, and Kanetix can help you comparison shop among dozens of insurance providers to help you get the best rate and coverage. 

Tenant insurance. If you rent your home, you’ll still want to have some form of insurance. Tenant insurance will cover you for your possessions, living expenses if you are forced out of your home, and protection against litigation. 

Condo insurance. Your condo corporation may have its own insurance policy, but it won’t cover you for your own personal use. The condo corporation’s insurance policy will only cover the structure and common areas. But the contents in your unit are not covered, which is why you need your own condo insurance policy.

Title insurance. This insurance policy will cover any losses associated with title fraud, issues with the title on your home, and survey problems. Kanetix offers title insurance quotes from FCT, which is considered Canada’s leading provider of title insurance. This one-time premium is valid for as long as you own your home. 

Travel Insurance Policies

Travel insurance. Medical bills that you might have to cover while travelling are not usually covered in full by your provincial healthcare plan. If you travel, you won’t be covered for medical expenses in case you get hurt or sick, unless you have a travel insurance policy. Kinetix offers this important type of policy, and users can save as much as 68% when comparing travel insurance on their site. All you need to do is provide your postal code, destination for your trip, and some passenger info.

Snowbird travel insurance. Canada is home to thousands of “snowbirds” who spend a good chunk of the winter months in warmer destinations to escape the cold. But while they’re basking in the sun, they’ll still need some insurance to cover them that their provincial plan won’t cover. Snowbirds can save as much as 53% on travel insurance with Kanetix.

Visitors insurance. If you’re not a Canadian resident and are planning to visit Canada for up to a year to stay with family or friends, are working here temporarily, or recently moved to Canada and are waiting for coverage under a provincial health insurance plan, then a visitors insurance policy can bridge the gap. This insurance is available in Alberta, BC, Ontario, Quebec, and Nova Scotia. You can also opt for the Super Visa insurance policy which will cover you for up to two years at a time and can be valid for up to 10 years. It also allows for multiple re-entries into Canada. 

International students’ insurance. Many students from across the globe study in Canada and an insurance policy can cover them while studying abroad. In case of an emergency, an insurance policy can provide coverage that their policy from back home does not cover. 

Life Insurance Policies

Life insurance. When a life insurance policyholder dies, the policy will pay out a certain amount to your beneficiaries. This is particularly important during years when you still have a mortgage and have dependents that may not be able to carry debt burdens without you. You can choose from term insurance (which can last from 10 years up to the age of 65) or permanent insurance that doesn’t expire until your passing.

Critical illness insurance. This covers you in the event of a medical emergency that affects your ability to work and meet your financial obligations. This type of policy will kick in to give your family the financial coverage needed when income is cut short due to an injury or illness suffered. 

Health Insurance Policies

Health insurance. Get quotes within minutes with Kanetix for health insurance policies. Canadians are covered for medical care, but provincial health plans do not cover everything. You can top up the type of care and treatment you receive with a health insurance plan, which is especially helpful for those who are self-employed or do not receive any employer benefits. 

Dental insurance. Provincial health plans do not cover dental cleaning appointments or procedures. But with a dental insurance policy, your twice-annual appointments, cavity fillings, root canals, and other dental procedures will be covered up to a certain amount without you having to pay in full. 

Business Insurance Policies

Auto insurance. This type of business insurance policy will cover corporate vehicles. Commercial auto insurance policies can include coverages that you won’t see in a typical personal-use auto insurance policy. 

General liability insurance. Available to businesses in Alberta and Ontario through Kanetix, this insurance will protect your business if you are ever taken to court. It covers claims for things such as personal injury, bodily injury to others, and property damage. This is among the more common business insurance policies that business owners take out. 

Property insurance. Much like a private residence would have home insurance, so should a business’s commercial property. Business coverage is available in many professional occupations, trades, and services and can help you protect what you’ve worked for. 

Oil and gas industry insurance. Professionals in the Alberta oil industry can receive an oil and gas insurance quote online through Kanetix, which is specifically designed for this particular sector. 

Errors and omissions insurance. This will protect you if someone claims to have suffered financial loss due to an error, omission, or negligence on your part. It is available to businesses in Ontario and Alberta through Kanetix. 

How Much Does It Cost To Get Insurance With Kanetix

Insurance policy premiums will vary a great deal in cost from one person to another, and for different types of policies. That said, certain factors play a key role in the cost of insurance, including with Kanetix, and include the following:

  • Your age
  • Your gender
  • Your health
  • History of family health
  • Your occupation
  • If you smoke or not
  • Additional coverage

Further, each type of policy may have its own unique factors that insurers will look at. For instance, car insurance policies will also depend on the type of car you want to insure and how many kilometres you put on it per year, while a home insurance policy will depend on things like the condition of the home and where it’s located. Kanetix makes it easy to get a quick and accurate quote.

Pros and Cons of Using Kanetix Insurance

Pros

  • Free to use. Get quotes from dozens of insurance providers at no charge. 
  • Discounts available. Kanetix promises to help you save a few dollars off your insurance premiums by obtaining quotes through them. They also provide discounts for people from various organizational memberships. For example, people who are part of a student association, go to a certain university, or work for a certain employer can qualify for a 30% discount.
  • User friendly. The Kanetix platform makes it easy to compare different prices and different providers within their network. 
  • Access to many insurance companies. While some platforms similar to Kanetiz may only have a handful of providers in their network, Kanetix offers access to over 50 companies. 
  • The questionnaire is quick to complete. All insurance policies will require certain pieces of information from you to be able to provide you with an accurate quote, but Kanetix’s line of questioning is quick to go through. 
  • Many lines of support. You can get in touch with an advisor via various channels, including phone, email, and mail. 
  • Get multiple rates and policy details in one convenient platform. There’s no need to look at various insurance companies individually. Instead, Kanetix allows you to look at all policies on one page for easy comparison. 
  • Several types of policies offered. Some insurance brokerages only provide access to a limited number of insurance types, but Kanetix offers several different types, including life, auto, home, and even pet insurance. 
  • Renewal reminders. Kanetix will automatically alert you when your insurance policy is coming due, giving you some time to make comparisons with other insurance providers before settling on a new policy. 

Cons

  • Not all policies are available in all provinces and territories.
  • No live chat.

How Will I Receive My Benefit?

In the case of life insurance, your beneficiaries will need to get a copy of your death certificate and submit a claim to the insurance company. Your insurance policy won’t automatically kick in; instead, your beneficiaries will have to take steps to claim their benefit. 

The claim can take a few weeks to process, but the exact length of time will depend on the circumstances that must be dealt with. When the claim is processed and approved, the benefit will be paid in a lump sum. The money can then be used to pay off a mortgage or any other debts, or for any other purpose. 

In the case of other types of insurance policies, such as home or auto insurance, you can submit a claim yourself after an incident occurs that has left you with a bill to pay. The insurance company will likely need to see some documentation surrounding the incident, such as photos or an in-person visit from an insurance agent. Once all pertinent information is collected, the insurance provider will either approve or deny your claim. If approved, you should be paid out a specific amount that should adequately cover any damage incurred. 

Kanetix Insurance Application Process

Before applying for an insurance policy through Kanetix, you’ll need to obtain a quote first. To do so, you’ll need to follow these steps:

  • Enter the requested information, such as your name, address, the type of policy you want, and all the details that the particular policy requires (ie. car make and model for car insurance). You’ll also need to choose the level of coverage that you need, as you may be allowed to customize your coverage if you have additional needs that a basic policy might not cover.  
  • Compare the quotes that Kanetix instantly populates.
  • Choose the best rate.
  • Lock in the rate that you are quoted with the associated insurance provider.

If you need help selecting an insurance provider and policy, you can speak with a licensed advisor. From there, you can begin the application process with the insurance provider you choose, all online and from the comfort of your home without having to visit an insurance agent in person. 

Where is Kanetix Insurance Available in Canada?

Where insurance is available in Canada through Kanetix depends on the category of insurance you’re looking for:

  • Car insurance – Alberta, Ontario, Quebec
  • Home insurance – Ontario and Alberta
  • Life insurance – BC, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, New Brunswick, Nova Scotia
  • Health insurance – Ontario, BC, Alberta
  • Business insurance – Ontario

Kanetix Overview 

FeatureCar InsuranceHome InsuranceTravel InsuranceLife InsuranceHealth InsuranceBusiness Insurance
CostFree quoteFree quoteFree quoteFree quoteFree quoteFree quote
AccessibilityOnline; appOnline; appOnline; appOnline; appOnline; appOnline; app
Provinces OfferedAlbertaOntarioQuebecOntarioAlbertaDepends on location travelling toBCAlbertaSaskatchewanManitobaOntarioQuebecNew BrunswickNova ScotiaOntarioBCAlbertaOntario
Number of Insurance Companies in Network50+50+50+50+50+50+

Is Kanetix Insurance Right For Me? 

If you love the idea of being able to quickly and conveniently search for quotes from dozens of insurance providers for all types of insurance policies available, then Kanetix may be the right tool for you. It’s free to use, and you can quickly compare quotes from different top insurers -across Canada, all from the convenience of your mobile device. Kanetix definitely makes obtaining an insurance quote as simple as possible while helping you save money.