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 Post subject: Auto Insurance Question
PostPosted: Thu May 18, 2017 9:33 am 
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Wife has had 2 minor at fault collisions in the last 12 months. The first was covered by our accident forgiveness but the second we haven't put through insurance yet. I'm wondering from insurance people or someone with experience what kind of premium increase we will be facing on renewal. Debating right now whether to put the second one through insurance or pay cash. Thx.


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PostPosted: Thu May 18, 2017 10:01 am 
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In my experience its going to come down to how bad these collisions were and what they will do to your wife's profile in your insurance providers system.

Insurance is really (in my opinion) only to be used if you kill or seriously injure someone. If you have the means to address this outside of insurance I would. However you also need to gauge the other persons willingness to settle this way. If its a minor fender bender its best for both parties. In a no fault system accidents are accidents and they do contribute to higher rates on both ends eventually.


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PostPosted: Thu May 18, 2017 1:44 pm 
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Does the other driver have your info or plate number? Were any charges laid or did they file a report? If they decide at any point to go through insurance, you'll have no choice. And honestly, when I'm the one who is not at fault, I always go through insurance regardless of how bad I feel for the other driver. I disagree a little with the above comment... It's pretty much never better doing it outside insurance for the person who isn't at fault. In Ontario any comprehensive or not-at-fault claims can't affect your premium, and any repairs are warrantied by the insurance company regardless of fault.

I've claimed a number of times over the last 2 years due to some bad luck.. hit and runs, broken windshields, etc., and had one at-fault accident where my car was totaled (long story), and I've claimed them all through insurance without any problems. Having a second at-fault would definitely suck, but there are too many factors that go into your rate, so it's hard to say how much your premium will increase. Some companies (like RBC) allow you to ask through an anonymous hotline. Good luck!


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PostPosted: Thu May 18, 2017 2:35 pm 
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Location: Milton
Ontario auto insurance rates - The highest in the nation. What a scam they are. Shame that our extreme left provincial government spent the last 10 years trying to save the planet instead of managing our affairs. When they did try to reduce rates for us all they did was lower the coverage and rates either stayed the same or in most cases still ended up higher.

Quote:
"A report by Ontario’s auto insurance adviser quietly posted last week found that the province has the most expensive auto insurance premiums in Canada despite also having one of the lowest levels of accidents and fatalities."

https://www.thestar.com/business/2017/04/19/auto-insurance-rates-in-ontario-increase.html


Oh, and my adventurous youngest daughter recently arrived in Perth Australia on a two year work visa.

Her rent, nice place is $99 per week. Her first full time job, $25 per hour plus benefits. She is now about to buy a used car to get around and her insurance quotes range from $62. to $67. per month :shock:

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PostPosted: Fri May 19, 2017 6:57 am 
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If the government did not put a lid on the rates, the rates would have shot up much higher, now we have much lower coverage for same or bit higher premium.


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PostPosted: Fri May 19, 2017 7:53 am 
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Carl wrote:
If the government did not put a lid on the rates, the rates would have shot up much higher, now we have much lower coverage for same or bit higher premium.


Right. Managed well. I guess that's why we have the highest rates in the country even though we have the lowest levels of accidents and fatalities. Terrific. Lucky us.

I'm not sure you remember how it all went down Carl. Probably not. Yes. The province did go to the insurance companies to reduce rates but only because the NDP pushed them to do that. The insurance companies said fine, but we will also reduce coverage. So rates did lower for about 2 years. Then rates went up again. Now the insurance companies get more money for even less coverage and as an added benefit to them, most people a frightened to even call them for anything except the worst cases in fear that their rates will skyrocket.

Like I said. Terrific. Why people defend being abused is beyond me.

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Last edited by Halton Home Inspector on Fri May 19, 2017 8:04 am, edited 1 time in total.

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PostPosted: Fri May 19, 2017 8:02 am 
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it is a "win win" situation for insurance companies.


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PostPosted: Fri May 19, 2017 9:02 am 
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My holdings in the insurance industry thank you for your business.

Here's a tip: you can't stop the train from moving, so get on board.


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PostPosted: Fri May 19, 2017 9:43 am 
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Halton Home Inspector wrote:
Carl wrote:
If the government did not put a lid on the rates, the rates would have shot up much higher, now we have much lower coverage for same or bit higher premium.


Right. Managed well. I guess that's why we have the highest rates in the country even though we have the lowest levels of accidents and fatalities. Terrific. Lucky us.

I'm not sure you remember how it all went down Carl. Probably not. Yes. The province did go to the insurance companies to reduce rates but only because the NDP pushed them to do that. The insurance companies said fine, but we will also reduce coverage. So rates did lower for about 2 years. Then rates went up again. Now the insurance companies get more money for even less coverage and as an added benefit to them, most people a frightened to even call them for anything except the worst cases in fear that their rates will skyrocket.

Like I said. Terrific. Why people defend being abused is beyond me.


You're absolutely correct. The rates did go down minutely for less coverage and now they're poised to go up again. This is the masochist syndrome. The more this gov't adopts policies that hurt the ordinary citizen the more often they get elected.


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PostPosted: Fri May 19, 2017 11:04 am 
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Quote:
You're absolutely correct. The rates did go down minutely for less coverage and now they're poised to go up again. This is the masochist syndrome. The more this gov't adopts policies that hurt the ordinary citizen the more often they get elected.


If you recall it was the NDP that forced them to do something about our high insurance rates. I assume then that the governments heart was not really in it so changes and negotiations were not done well and the insurance companies were able to pull the wool over the governments eyes while giving them a swift kick.

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PostPosted: Fri May 19, 2017 12:15 pm 
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I love how you guys think a different government would swoop in on their white unicorns and save us all from our high cost of living, and the terrible evils forced upon us by the big bad Liberal government.

We're screwed either way, gents. Now raise a glass to the unions and thank them for our 3-day weekends!!


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PostPosted: Fri May 19, 2017 2:20 pm 
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thegrandfromage wrote:
Wife has had 2 minor at fault collisions in the last 12 months. The first was covered by our accident forgiveness but the second we haven't put through insurance yet. I'm wondering from insurance people or someone with experience what kind of premium increase we will be facing on renewal. Debating right now whether to put the second one through insurance or pay cash. Thx.


Hello, I am an agent with Allstate insurance. There are many factors to consider in this situation, if you want you can email me and I can get you the best answers I can, or call me as well. Hopefully I can help you out.

Cheers,

Caleb

519-620-4449 EXT. 5013
cchir@allstate.ca


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PostPosted: Fri May 19, 2017 11:36 pm 
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Hodor wrote:
I love how you guys think a different government would swoop in on their white unicorns and save us all from our high cost of living, and the terrible evils forced upon us by the big bad Liberal government.

We're screwed either way, gents. Now raise a glass to the unions and thank them for our 3-day weekends!!


You're right to some extent however this gov't has squandered so much of our tax dollars that, for example, the gas plants screw up is a "gift" that keeps on giving. Recent info shows that they are now close to coming on stream in areas where they will only be required for part time use and I think there is a question whether the one in Napanee will ever be needed. Their costs will never be paid for except maybe by our grandchildren. If we are unable to exert any pressure on gov'ts to be accountable then you can expect more of the same mediocre policies because they know the public doesn't care about high deficits or botched up projects as long as they get free daycare, free drug plans, free dental plans, free university tuitions and on and on. One day the piper will have to be paid and maybe it will come in the form of hiking up our taxes to a 56% rate similar to what exists in the Scandinavian countries.


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