Ontario Auto insurance

[Alta4ever]

The Frontier Centre for Public Policy isn't government...they rather hate government and were using the study to say that MPI was bad (they showed that it was in some ways, but it backfired on them in other ways). I'm using real numbers. You're using anecdotal evidence that can't be verified.

You damn right it can be verified and why would I lie those are my rates. The kenetix quote I got just a second ago, you just can't admit that you are wrong that government solutions are not always best nor reign supreme. Step back from you idelogical postion.

here are all of the Kanetix rates in my quote

Call us here at Kanetix and we'll introduce you to a licensed representative from any of the insurance companies listed below.

1-888-854-2503 toll-free

416-598-5401 from a local area code

COMPANY PREMIUM NEXT STEP

· Ways to pay: Credit card, ABW, cheque

· A- pd A.M. Best

· Discounts: Experienced driver, Multi-vehicle

$2240

per year

· Ways to pay: Credit card, ABW, cheque

· B++ pd A.M. Best rating

· Discounts: Multi-vehicle, Multi-line

$2366

per year

· Ways to pay: Credit card, ABW

· Paying monthly? No fees or interest.

· B+ pd A.M. Best rating

· Discounts: Multi-vehicle, Claims-free, Conviction free, Occupational, Preferred parking

$2739

per year

· Ways to pay: ABW, cheque

· B pd A.M. Best rating

· Discounts: Multi-vehicle, Multi-line

$2893

per year

· Ways to pay: Monthly credit card, Full payment cheque

· A A.M. Best rating

· Discounts: Multi-line, Multi-vehicle, Conviction free, Occupational

$3167

per year

· Ways to pay: Credit card, ABW with deposit

· A- pd A.M. Best rating

· Discounts: Conviction free, Multi-vehicle, Multi-line

$3332

per year

· Ways to pay: ABW, cheque

· A A.M. Best rating

· Discounts: Conviction free, Multi-vehicle, Multi-line

$3736

per year

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Note: These premiums are estimates and are provided solely for the means of comparison. Actual premiums may be higher or lower than the estimated amounts. Automobile Insurance in Alberta is not subject to tax. Quoted premiums do not include any administration service fees charged for monthly payments. By providing these comparison rates, Kanetix is not selling, soliciting or recommending any of these companies or policies.

Kanetix does not have a direct relationship with AXA Pacific Insurance, Pembridge Insurance Company , Royal & Sun Alliance Canada.

[Smallc]

You damn right it can be verified and why would I lie those are my rates. The kenetix quote I got just a second ago, you just can't admit that you are wrong that government solutions are not always best nor reign supreme. Step back from you idelogical postion.

Yeah, because I always say that the government is always the solution. In this case, it is. As I've already told you, and is shown in more than one study (the FCPP one being one of the latest), we pay less for more on average than anyone. We don't have the lowest rates, but when you compare coverage, we do. You can believe what you want, and keep thinking that the free market has all the answers. I'll enjoy some of the best, lowest price coverage...and electricity.

[Alta4ever]

Yeah, because I always say that the government is always the solution. In this case, it is. As I've already told you, and is shown in more than one study (the FCPP one being one of the latest), we pay less for more on average than anyone. We don't have the lowest rates, but when you compare coverage, we do. You can believe what you want, and keep thinking that the free market has all the answers. I'll enjoy some of the best, lowest price coverage...and electricity.

And I'm telling you that you can't average prices between different companies, in the private market people pay the lowest price they can get period. All insurance studies fail to make that distinction. They don't compare real policies they use made up numbers, with made up factors. The fact is you don't know enough about the insurance industry to understand that. Did they use a residual market quote for some, did they use main line market quotes. Did they use grid rate numbers, what discounts were used, Did they factor in policies that offer accident waiver endorsements?

Did they take median policy rates rather then mean, what did they use for a company, what companies participated in the survey? I would love to see how they got the intact (or ING rate) since they use credit scores as a rating factor.

[Topaz]

Maybe the insurance companies should be forced to change the way they charge customers. The more accidents and tickets you get the more your insurance increases. Why should all drivers have to pay other others? It wouldn't matter your age either, until you have an accident or a ticket it should be a reasonable amount. Right now, they charge by where you live, credit ratings, your sex, etc. which I don't think that's fair. When they lose money in the stock market they should be able to come back on us, either.

[Alta4ever]

Maybe the insurance companies should be forced to change the way they charge customers. The more accidents and tickets you get the more your insurance increases.

It does work this way to a certain degree, but all rates have to be filed and approved by the insurance ombudsman in the province. So the provincial government has final say.

[guyser]

Maybe the insurance companies should be forced to change the way they charge customers.

They have, some now use credit rating/postal codes to determine rates.

The more accidents and tickets you get the more your insurance increases.

Correct, as it always has.

It wouldn't matter your age either, until you have an accident or a ticket it should be a reasonable amount.

So a 50 yr old with a clean record should pay the same as a newly lic'd driver of say 19yrs old? Dont think so, and actuaries will show you the incidence rate for people of varying ages and charge accordingly.

Right now, they charge by where you live, credit ratings, your sex, etc. which I don't think that's fair.

If you lived in Timmins do you think you should pay the same as someone who lives in downtown Toronto? There are numerous reasons why that wont work. And it goes both ways as plenty of areas way up north cannot get glass coverage due to all the gravel roads.

When they lose money in the stock market they should be able to come back on us, either.

FSCO dictates that the companies have assets available to cover the liabilities, if a shortfall occurs then the rates have to go up.

It aint perfect, but not sure what could be improved.....apart from 'some' of the bs lies we get.

Edited August 25, 2010 by guyser

[M.Dancer]

Our Insurance is coming up in September. I got a quote from TD

1,000,000 liability

1000 deductable

and the usual stuff....

$94.o8 per month

...less if we move our home insurance over to them

That is a savings of about 10030 per month we pay now.

Edited August 25, 2010 by M.Dancer

[Smallc]

See, now that is far more what I'm used to hearing of private insurance. Deductibles are often quite high.

[guyser]

Our Insurance is coming up in September. I got a quote from TD

1,000,000 liability

1000 deductable

and the usual stuff....

$94.o8 per month

...less if we move our home insurance over to them

That is a savings of about 10030 per month we pay now.

One car? No driving to work?

And the $1000 ded is for All Perils?

If yes, good rate. Especially for TO . I pay almost triple that...one bad ticket.

[M.Dancer]

One car? No driving to work?

And the $1000 ded is for All Perils?

If yes, good rate. Especially for TO . I pay almost triple that...one bad ticket.

One car, one driver..no claims (no accidents either) no tickets..been insured for over 11 years...been a driver for 27...the wife might take the car to work twice a week...and then drive a whopping 1 km to her place of business.

I can't imagine what it would cost to insure me...

51.....NEVER HAD A LICENSE!!!

[Alta4ever]

See, now that is far more what I'm used to hearing of private insurance. Deductibles are often quite high.

And that is ontario not alberta.

[Smallc]

And that is ontario not alberta.

And? I would wager a great deal of money that the average person in Alberta doesn't pay what you claim to.

Edited August 25, 2010 by Smallc

[Alta4ever]

And? I would wager a great deal of money that the average person in Alberta doesn't pay what you claim to.

Are you calling me a liar?

[Smallc]

Are you calling me a liar?

I'm saying that if you pay those rates, based on studies that have been done, they are exceedingly rare for private auto insurance.

[M.Dancer]

The easy way to find out is to go to one of the sites and get a quote as if you live in Alberta .

I would imagine that Calgary's rates are not far off Toronto..while Red Deer's are less.

[scribblet]

I haven't read the whole thread on this, but, my son who lives in the GTA just saw his insurance premiums rise by $100.00 a month, no claims, no tickets, etc. etc. His yearly premium with no collision (it's an old car) is $2956. per year. If he moved out of town to where we are, it would go down to $980.00 but it's too far to commute. BTW, for calculating insurance purposes, the GTA can stretch from Burlington to Oshawa.

I've been phoning around for him and did find a couple of places about $600.00 cheaper including CAA, but his company wants $250.00 to cancel the policy. What he will gamble on I suppose, is that the new company won't raise it as much next year. I suppose he got notice and didn't read it, now it's too late. Scam artists.

Edited August 25, 2010 by scriblett

[Smallc]

The easy way to find out is to go to one of the sites and get a quote as if you live in Alberta .

I would imagine that Calgary's rates are not far off Toronto..while Red Deer's are less.

He'll tell you that those quotes don't count.

[guyser]

The easy way to find out is to go to one of the sites and get a quote as if you live in Alberta .

I would imagine that Calgary's rates are not far off Toronto..while Red Deer's are less.

How ab out a third of the price? Maybe not quite, but seriously reduced for Calgary vs TO.

I did a quote, $928 -$1045 was the range. I used Calgary SW area code. I assume thats inner city Calgary.

Currently I pay $3814 , one slightly better than "bad" speeding ticket.

Edited August 26, 2010 by guyser

[guyser]

I haven't read the whole thread on this, but, my son who lives in the GTA just saw his insurance premiums rise by $100.00 a month, no claims, no tickets, etc. etc. His yearly premium with no collision (it's an old car) is $2956. per year.

I will respectfully suggest that something is amiss here. No tickets, no claims and no collision? Something doesnt jive.

Has he had a record, unbroken ,of insurance for the past 5 years?

While true, the rates will vary wildly for all those places outside of TO.

I've been phoning around for him and did find a couple of places about $600.00 cheaper including CAA, but his company wants $250.00 to cancel the policy. What he will gamble on I suppose, is that the new company won't raise it as much next year. I suppose he got notice and didn't read it, now it's too late. Scam artists.

Scam? Thats unfair.

He had his renewal policy a minimum of 45 days prior to renewal. He could have cancelled that at anytime up to the renewal date (and likely a few days past )

Something says to me the whole story isnt being told to you.

[Bonam]

I laugh at the insurance rates I used to have to pay in Canada until moving down to the states. Government monopolies make for ridiculous rates. I am paying less than 1/3 as much down here. In Canada (BC), my insurance payments were more per month than the lease payments on my car, which is just pure ridiculousness. ICBC: $2463/year. Now, from a private company in the US: $731/year.

Edited August 26, 2010 by Bonam

[Guest TrueMetis]

ICBC: $2463/year.

My brother has to pay similar rates, after he totaled 3 different cars and lost his license more times than he should have been allowed to.

[Smallc]

I laugh at the insurance rates I used to have to pay in Canada until moving down to the states. Government monopolies make for ridiculous rates.

They generally don't actually, but BC hs the most expensive of the publicy insured rates. The coverage is also probably not 1:1.

Edited August 26, 2010 by Smallc

[scribblet]

I will respectfully suggest that something is amiss here. No tickets, no claims and no collision? Something doesnt jive.

Has he had a record, unbroken ,of insurance for the past 5 years?

Scam? Thats unfair.

He had his renewal policy a minimum of 45 days prior to renewal. He could have cancelled that at anytime up to the renewal date (and likely a few days past )

Something says to me the whole story isnt being told to you.

Yes, he has an unbroken record for about 12 years, he drove the Lumina (it was mine) on our insurance. I gave it to him 4 years ago so he had to take a separate policy out, same company so continuity. If he moved to where we live his rate would drop to $980.00

I know all of it because we pay his premiums for him to help him out. Obviously he didn't read his notice and I didn't know until I checked my bank account. I have spoken twice to the insurance company who agree that he has a clean record, there are no claims, tickets or anything, that is not in question with the insurance co. I've been told that all rates in the GTA have gone up, his was so high because of the car he drives (a 99 Lumina)which has a high number of accidents and injuries , yadda yadda. I don't buy that although there are a large no. of Chev Luminas on the road. Secondly and most likely, this company applied early for their rate increases and got it, other companies haven't applied theirs yet, it's coming.

He will be switching to CAA when he gets the money to pay the cancellation fee, we will save that in about 4 months.

[guyser]

I laugh at the insurance rates I used to have to pay in Canada until moving down to the states.

Why laugh? You pay less and get less.

I am paying less than 1/3 as much down here. In Canada (BC), my insurance payments were more per month than the lease payments on my car, which is just pure ridiculousness. ICBC: $2463/year. Now, from a private company in the US: $731/year.

So?

Your lease payments were under $200 and you put a lot of money down. Great!

Relevance?

[guyser]

I've been told that all rates in the GTA have gone up, his was so high because of the car he drives (a 99 Lumina)which has a high number of accidents and injuries , yadda yadda. I don't buy that although there are a large no. of Chev Luminas on the road.

Somebody BS'd you. A Lumina is not a high risk car. And it being a '99 makes that more so.

Secondly and most likely, this company applied early for their rate increases and got it, other companies haven't applied theirs yet, it's coming.

Pretty much every single company has increased rates. Some more than others.

He will be switching to CAA when he gets the money to pay the cancellation fee, we will save that in about 4 months.

My advice is to leave it until renewal next year. With the changes that are coming Sept 1st he will have more coverage until it renews as he will be grandfathered until then.