Auto ins. will be going up.

[htc***]

As of September 1, 2010 it will be a reality and depend on where you live but I think the rate will be higher in GTA. Here in Canada, people are criticizing Americans about their health insurance but we are just as bad as auto.

[JSI]

Insurance companies are the devil

:tomato

[stevenma188]

Agreed! You keep paying these ridiculous rates, yet you get screwed as soon as anything happens.

[hit26k]

son of a...

:rant :flaming :bang

[silvermist99]

what? i read an article few weeks earlier saying auto insurance will go DOWN in September and majority of the popluation should see a decrease. I just renew /insured a new vehicle a few weeks ago and it was noticably cheaper than last year.

[klym]

As of September 1, 2010 it will be a reality and depend on where you live but I think the rate will be higher in GTA. Here in Canada, people are criticizing Americans about their health insurance but we are just as bad as auto.

Correct me if I'm wrong... But I believe most insurance companies already incorporate the region you live within into your rate? Maybe I'm not understanding what your saying, they are increasing the rate just because?

[htc***]

what? i read an article few weeks earlier saying auto insurance will go DOWN in September and majority of the popluation should see a decrease. I just renew /insured a new vehicle a few weeks ago and it was noticably cheaper than last year.

I mean as of Sept. 1st, 2010, not before Sept.



Correct me if I'm wrong... But I believe most insurance companies already incorporate the region you live within into your rate? Maybe I'm not understanding what your saying, they are increasing the rate just because?


Here is a link to answer your question. (http://www.gtamotorcycle.com/vbforum/showthread.php?t=117624)

I think if you keep the same coverage than your auto ins. will going up.

[mazdaskit]

i got a letter from my insurance couple months ago saying new Canadian laws and my policy will be decreased when i renew lol so i dont know now its going up

[stevenma188]

Since I renewed my policy this Aug, will my rates go up again when I renew next year?

[XTOTHEL]

Since I renewed my policy this Aug, will my rates go up again when I renew next year?

probably. unless you switch companies and shop around, u might get a little less.

[dave2010GT]

It's actually government mandated increases because of the insane amount of fraudulent claims that have been cripling the industry. Essentially your paying more and getting less coverage.

The innocent customers are getting screwed again.

[miss_jess]

The reason for rate increase is quite easily understandable. It has increased due to fraud, so if you know anyone, friend, family member, co worker, etc. who got into a minor accident but decided to take weeks off work and claim major accident benefits. Well that is why you rates went up. Let's not forget the trusted tow truck drivers, who 'refer' you to a doctor’s office and are getting cash on the side for doing so, and of course the doctors who are submitted assessments to insurance companies and not even completing the assessments. Everyone is milking insurance companies and well they have all picked up on it.

Only solution, raise rates.

State Farm Canada alone as borrowed hundreds of millions of dollars from the corporate office in the US. The amount of money being paid out for this minor accidents is unbelievable.

Do I agree with everyone, yes, insurance rates are ridiculous. I got 2 speeding tickets this year, I am dreading my renewal next year.

What is happening effective September 1st works in everyone's favour…. Do a little research and start reading some articles. It fully explains what is going on and why they have done what they have done. They have cut accident benefits in half. Meaning the cap was $100,000 and now it is $50,000. Changes aren't seen right away, it is going to take some time for these new regulations to actually be noticed by the policy holder.

Here are some good articles.

http://www.ibc.ca/en/Car_Insurance/ON/Auto_reform.asp

http://www.news.ontario.ca/mof/en/2009/11/ontario-providing-choice-in-auto-insurance.html

http://www.insuranceicanafford.ca/site/myths-and-facts

http://www.theglobeandmail.com/globe-investor/personal-finance/rbc-warns-of-rising-insurance-fraud/article1655018/

[prinsesa]

Im already paying $325 monthly -_-

[cwp_sedan]

Im already paying $325 monthly -_-

OUCH! :(

[fini]

^^^ try being a young male having to commute long distance for work.
when i first got my insurance, no quote i received from insurers were less than $500 / month. didn't matter that i had driver training, and a clean record for a number of years since recieving my G license

I've already got mine renewed, and as a stereotyped driver, I was already paying a lot. Now I'm paying even more. Though thankfully when i moved from the mazda to my A3, it got cheaper.
While I understand the rationale behind it, I don't have to like it.
But I'm proud to say that I didn't take the weeks off work and claimed a lot of medical benefits when my car was totaled. and I mean smashed to bits.

[MAZDA Kitten]

Thanks Jess for that answer; very informative

[bman13]

Hmmm...mine should be going down as someone else stated, if it goes up, I will start shopping around.

[miss_jess]

Thanks Jess for that answer; very informative

:)


Hmmm...mine should be going down as someone else stated, if it goes up, I will start shopping around.

Then start shopping. After seeing some people's renewal... chances on your insurance actually decreasing seems very slim. For the ones that have decreased, its a mere $5/month.

[Pokey]

Yep - less coverage, higher rates. I've already been warned by my company about the increase (mine's in October) :(

[antifuse]

Yup, thank you very much insurance fraudsters. Bleh.

[bman13]

Yup, thank you very much insurance fraudsters. Bleh.

I blame insurance companies for bad management.

[Pokey]

Everyone blames those who commit fraud - I can sympathize though - if you're paying $500/month for insurance and something fairly minor happens which is TOTALLY the other drivers fault and you have a chance to milk it for all it's worth, wouldn't you?

At my age, I've probably paid enough in insurance to buy a new V6 accord by now (not that I would) and a lot of people have paid MORE, receiving nothing in return, so when something happens they don't want to just walk it off and get back to work, they develop a back/neck injury or whatever to finally feel like they are getting their moneys' worth. I'm not saying that I personally would, just that I can see why it might happen.

[antifuse]

Everyone blames those who commit fraud - I can sympathize though - if you're paying $500/month for insurance and something fairly minor happens which is TOTALLY the other drivers fault and you have a chance to milk it for all it's worth, wouldn't you?

Personally? No, I wouldn't. But hey, to each their own. Can't really blame the insurance companies, though, for having to charge more in order to recoup the costs of all the people defrauding the system.

[Rob23]

Everyone blames those who commit fraud - I can sympathize though - if you're paying $500/month for insurance and something fairly minor happens which is TOTALLY the other drivers fault and you have a chance to milk it for all it's worth, wouldn't you?

At my age, I've probably paid enough in insurance to buy a new V6 accord by now (not that I would) and a lot of people have paid MORE, receiving nothing in return, so when something happens they don't want to just walk it off and get back to work, they develop a back/neck injury or whatever to finally feel like they are getting their moneys' worth. I'm not saying that I personally would, just that I can see why it might happen.

its called KARMA, eventually your going to get ****ed doing stupid shit like this. either go to jail for fraud or one day you might acually hurt your back or neck permanently and get no compensation. then you deserve it in my opinion. thats just pathetic faking an injury, seriously.

[JashiK]

its called KARMA, eventually your going to get ****ed doing stupid shit like this. either go to jail for fraud or one day you might acually hurt your back or neck permanently and get no compensation. then you deserve it in my opinion. thats just pathetic faking an injury, seriously.

Agreed.

[prinsesa]

I think insurance companies should put more time in investigating the claims.
We cant stop people from taking advantage, heck, everyone does it (not faking injuries but on other stuff)
So the only solution is to investigate into claims further.

[antifuse]

I think insurance companies should put more time in investigating the claims.
We cant stop people from taking advantage, heck, everyone does it (not faking injuries but on other stuff)
So the only solution is to investigate into claims further.

Which costs more money, and causes premiums to rise. :)

[htc***]

Either way, fraud or no fraud. the premium will be going up anyway.

[prinsesa]

Which costs more money, and causes premiums to rise. :)

Which costs more?
a more in depth investigation (opinion from more than one doctor or more regular assessments of injuries or recommended treatment/equipment for the "injured")
or
claim from a person who is "injured" and is on short term disability for a couple of months?

I feel like the latter part will cost more.

[miss_jess]

I think insurance companies should put more time in investigating the claims.
We cant stop people from taking advantage, heck, everyone does it (not faking injuries but on other stuff)
So the only solution is to investigate into claims further.
I am only speaking on behalf of State Farm when I speak, however, I know all other insurance companies are in the same position.

Our accident benefits team at State Farm is basically 3 months behind in claims. That is how many claims there are! They don't have time to investigate, they are trying to get through the claims as fast as possible. It really is a lose lose situation.

What you're saying is you think your insurance company should investigate it? Are you willing to wait months before you see a dime? Because if they were to investigate it, the chances are, you will be waiting that long. They need to talk to everyone involved in the accident and everyone involved around you. Witnesses, police, ambulance, tow truck driver, doctors, family, friends, coworkers... the list goes on.

Or, you file a claim, you fake an injury, you milk the system and it everything gets paid because having a client wait a month after an accident to see some money to pay for bills is poor customer service if you ask me.

Don't get me wrong. I actually 100% agree with you. They should be investigating it. I have a friend who works in accident benefits and they approached their manager and said this client is committing fraud. The manager said, just pay it, there is no time to investigate it. It's sad. But it is reality.

With the new legislation coming September 1st, it is supposed to help out with this fraud being committed. Time will tell.

[JSI]

I am only speaking on behalf of State Farm when I speak, however, I know all other insurance companies are in the same position.




Exactly why we have to consider where your opinion is coming from.
We have to take it with a grain of salt. Of course someone working for an insurance company will defend their actions.

Personally I think it is a load of crap and they are just gouging their customers for as much as they can.

[Burner]

Exactly why we have to consider where your opinion is coming from.
We have to take it with a grain of salt. Of course someone working for an insurance company will defend their actions.

Personally I think it is a load of crap and they are just gouging their customers for as much as they can.

They're just passing on the increased costs to the customer, just like any business would do. The problem lies in the attitude that they've taken to just let costs skyrocket almost unchecked. They know that they can just get an approval to increase rates the next year to cover the extra costs. That's why fraudsters have been so successful.

[Noisy Crow]

Personally I think it is a load of crap and they are just gouging their customers for as much as they can.

It's called Capitalism. There are lots of insurance companies out there......... I switched and saved a bundle of money each year.

[m_bisson]

My insurance went down when i got my 2010 because of the added airbags and standard ABS. Cool eh?

[JSI]

It's called Capitalism.

Not really but I get your point.


Capitalism is an economic system in which the means of production and distribution are privately owned and operated for profit; decisions regarding supply, demand, price, distribution, and investments are not made by the government

Honestly socialized auto insurance, like our health care would be a pretty good thing now that I think about it.

But that is getting off topic.

[Burner]

Not really but I get your point.


Honestly socialized auto insurance, like our health care would be a pretty good thing now that I think about it.

But that is getting off topic.

Insurance prices aren't set by the government. Insurance companies do that. All the government does in Ontario is approve insurance companies rate scales. It's arms length regulation at best.

[DruidB]

Insurance prices aren't set by the government. Insurance companies do that. All the government does in Ontario is approve insurance companies rate scales. It's arms length regulation at best.

Hence why a socialized system would be better...

[Noisy Crow]

Hence why a socialized system would be better...

Better in terms of..... Service? Price? Accountability? Choice?

[DruidB]

Better in terms of..... Service? Price? Accountability? Choice?

Better in terms of Price (the factor that affects everyone, not only those making claims).
Accountability and service should not change very much and does not affect us very much unless your making claims every five years. And obviously Choice would be reduced lol.

[Burner]

Hence why a socialized system would be better...


Better in terms of Price (the factor that affects everyone, not only those making claims).
Accountability and service should not change very much and does not affect us very much unless your making claims every five years. And obviously Choice would be reduced lol.

You're a bit misguided here. Government agencies aren't known for offering cheap services.

I came to realize years ago that the problem with auto insurance in Ontario isn't with the companies that provide the service. It's with the minimum coverage that Ontario regulation requires. Drop the minimum liability coverage to 100k or so and the accident benefits to next to nothing and you'd see premiums of $250/year.

[stormin84]

Im already paying $325 monthly -_-

wow...i'm paying about $50 less then you for 2 cars, a bike and house insurance.

[DruidB]

You're a bit misguided here. Government agencies aren't known for offering cheap services.

I came to realize years ago that the problem with auto insurance in Ontario isn't with the companies that provide the service. It's with the minimum coverage that Ontario regulation requires. Drop the minimum liability coverage to 100k or so and the accident benefits to next to nothing and you'd see premiums of $250/year.

I'm basing my assumptions off of the provincial BC system. I have a 28 year old family member with a new car paying $92 a month. They live just outside of Vancouver and have BC Basic coverage. And its a 3 series BMW

Basic Autoplan includes:

$150,000 for medical and rehabilitation costs for each injured person
$200,000 for damages claimed by other drivers
$1 million per person if the at-fault motorist is under-insured

Im 30 yrs old and paying $138 now with a multi-car discount on my Mz3 and im an hour away from the GTA. And this was the absolute best price i could find.

Seems like a better deal to me.

[Burner]

I'm basing my assumptions off of the provincial BC system. I have a 28 year old family member with a new car paying $92 a month. They live just outside of Vancouver and have BC Basic coverage. And its a 3 series BMW

Basic Autoplan includes:

$150,000 for medical and rehabilitation costs for each injured person
$200,000 for damages claimed by other drivers
$1 million per person if the at-fault motorist is under-insured

Im 30 yrs old and paying $138 now with a multi-car discount on my Mz3 and im an hour away from the GTA. And this was the absolute best price i could find.

Seems like a better deal to me.

It's cheaper because the system in BC isn't subject to Ontario's overly rich accident benefits. If you want to get those kind of rates here then contact your local MPP and tell them to want the regulation on minimum insurance coverage brought in live with the rest of the country.

[prinsesa]

Mine's increasing =/ $397 a month now...paying $750 a month for my car pmt+ins =|

Today's been a really bad day..bad news after bad news =(

[bman13]

Mine's increasing =/ $397 a month now...paying $750 a month for my car pmt+ins =|

Today's been a really bad day..bad news after bad news =(

well I'm sure your crazy young and it's your area. I guess I shouldnt complain mine went up to $173ish for insurance. Then again, I started off with $330 a few yrs back. Amazing how much an Alumni discount+over 25 makes a difference.

[prinsesa]

I actually have an alumni discount too thru TD meloche monnex =|
I'm 21, female, no bad records or what not..
I think my insurance company is sniffing cocaine or something, me insuring a bmw is much cheaper than my 3 =| wtf !
Oh and I live in an expensive neighbourhood, does that affect it? =|

[silvermist99]

I actually have an alumni discount too thru TD meloche monnex =|
I'm 21, female, no bad records or what not..
I think my insurance company is sniffing cocaine or something, me insuring a bmw is much cheaper than my 3 =| wtf !
Oh and I live in an expensive neighbourhood, does that affect it? =|

TD MM is weird!! their calculations are seasonal... changes every month. Early last year (winter) I remember getting quotes and the bmw, was similar priced to the mz3 i had... then in summer when I actually got the car it turned out to be $400 more a year than the online quote.

Different postal codes have different rates.

I'm paying about $175 a month for my bmw, M 26, 1 ticket, multiline discount. This is with $1500 deductible and 7500km /year tho.

[Pokey]

its called KARMA, eventually your going to get ****ed doing stupid shit like this. either go to jail for fraud or one day you might acually hurt your back or neck permanently and get no compensation. then you deserve it in my opinion. thats just pathetic faking an injury, seriously.

I didn't say that Idid this. But there seem to be thousands out there that do, and everyone along the way gets their cut. I'm sure there are plenty of people out there with "injuries" who don't work but vacation several times / year to 'get away for a while'....

[prinsesa]

TD MM is weird!! their calculations are seasonal... changes every month. Early last year (winter) I remember getting quotes and the bmw, was similar priced to the mz3 i had... then in summer when I actually got the car it turned out to be $400 more a year than the online quote.

Different postal codes have different rates.

I'm paying about $175 a month for my bmw, M 26, 1 ticket, multiline discount. This is with $1500 deductible and 7500km /year tho.

What?! You must be 90 years old! KIDDING! If my insurance was $175 a month, I will get a BMW or Lexus IS *dreams*
Well, which insurance company are you with? Still TD?

[VaderX]

Mine went down by $9/month. My dads stayed the same. House insurance went up by $10 though.

[klym]

My insurance went down as well this year. Dropped about $10/month, down to 190/month. I'm 22 with a 2005 Mazda 3GT and one ticket (No points).

[Slade]

I just called this week to setup my insurance for new apartment and my rate is staying the same

Hard to believe 4 1/2years ago when I got my Mazda I was 21, 3 tickets, 3 points - car payment was $400month - Insurance was ~$500month, I was paying $900month to drive :(

Now fast forward to now, I'm 26, 2008 Canyon (2 years newer than my 3 was), and my insurance is only $178month with a $500 deductible and my truck payment is only $300month (7 year loan ftl :(), now I am only paying $478month to drive.

[bman13]

Mine is going down like $10ish dollars a month :)

[Pyro]

to the guys that rates dropped....you should check your coverage, make sure it's the same. Apparently TD MM is reducing coverage on renewal ....I'm going to have to check my policy when I renew in a few months.

[VaderX]

to the guys that rates dropped....you should check your coverage, make sure it's the same. Apparently TD MM is reducing coverage on renewal ....I'm going to have to check my policy when I renew in a few months.

Yup, the coverage did go down a bit but so did my deductable from 500 to 400.

[bman13]

to the guys that rates dropped....you should check your coverage, make sure it's the same. Apparently TD MM is reducing coverage on renewal ....I'm going to have to check my policy when I renew in a few months.


Yup, the coverage did go down a bit but so did my deductable from 500 to 400.

Mine is dropping because I forgot to disclose I have winter tires which with anti-theft = discount :)

[Pyro]

Mine is dropping because I forgot to disclose I have winter tires which with anti-theft = discount :)

haha nice, who are you with?
I think i asked TD MM about it once and they said they dont offer a discount for winter tires

[SilentJay]

So overall, who seems to offer discounted rates? I've checked with all the major chartered banks, big-name insurance companies, kanetix, CAA, TD MM (our provider right now)...

3 cars, 3 drivers (parents and I), and house is running us about $4500 this year. I have a fender bender that's supposed to be removed this Aug, but otherwise both my parents have clean records (more than 30 years of clean driving records) + one of the cars is on liability only!

Oh, and is this standard practice now? Apparently there is a $500 deductible on accidents that aren't your fault??

[alhope34]

For the first time since I got my MS3 my insurance is going up this year. Went from $300 a month to $330.

[bman13]

haha nice, who are you with?
I think i asked TD MM about it once and they said they dont offer a discount for winter tires

Johnson Insurance.