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Car Insurance (pg. 2)
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| Moral Hazard |
| quote: | Originally posted by vendetta999
seems to me like they pulled "3600 for 6 months" out of their asses. i dont think its reasonable at all. |
They can't just pull it out of their asses.
I will explain this yet again. Insurance companies have to have their rates approved by the provincial government. They apply to the government for certain rates of insurance (x$ for every $1000 of coverage) for each risk rating of each class. A risk rating is the statistical likelihood that you will be involved in a loss. Risk rating is calculated by a number of factors, too many to fully explain here. Each applicant is placed into their risk catagory based on their personal charateristics and driving record. Whatever rate the government has approved for that risk rating for that insurer is what the insurer can then charge. They cannot simply pick a number.
FF - by getting those tickets off your driver's abstract and turning 25 you will likely kick yourself down two risk rating classes (you'll no longer be a high risk driver based on your record and you'll no longer be a high risk driver based on your age). Subsequently, you will have a lower rate applied to you.
Like I said earlier, if you raise your collision deductible you will lowere your premium because the chances of you having a claim above the deductible amount decreases. You could also lower your Liability limit from 1million to 200,000 (the legal minimum) which will result in much lower premiums. The risk with this, however, is that should you cause an accident in which someone suffers major injury and loss of future income $200,000 may be insufficient to cover the damages.... you will be personally liable for anything beyond the $200,000. This is a big risk but depending on your circumstance may be worth it. |
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| Floorwhore |
| quote: | Originally posted by Moral Hazard
PC Insurance - GREAT CHOICE
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Holy christ.
Just got a quote for $2004 (if paid in full) for a year!!
$167/month!!!!! |
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| Moral Hazard |
| quote: | Originally posted by VERTiG0
They still quoted me more than RBC Insurance :) |
RBC also writes at a loss..... I believe they lost 12 cents for every dollar of premium writen last year. |
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| Floorwhore |
| quote: | Originally posted by jon jon
LOL who are you trying to impress sitting in shotgun? |
some hoes n bitches..... you know. |
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| Moral Hazard |
| quote: | Originally posted by Floorwhore
they said if i had six tickets, my insurance would be taken away - and i wouldnt be able to drive in the province of ontario..... |
FYI, there is an organization called The Facility Association, which all insurance companies are part of. If no one insurance company will write a policy for you the Association MUST (by law). It's usually very expensive, however, there is never a situation where any person legally licensed in Ontario cannot get insurance. |
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| jon jon |
| quote: | Originally posted by Floorwhore
some hoes n bitches..... you know. |
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| Floorwhore |
| quote: | Originally posted by jon jon
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dibs on red. |
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| StereoPrincess |
| quote: | Originally posted by Floorwhore
Holy christ.
Just got a quote for $2004 (if paid in full) for a year!!
$167/month!!!!! |
great news! more money to spend on everything else. |
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| tw1tch |
| quote: | Originally posted by Floorwhore
Holy christ.
Just got a quote for $2004 (if paid in full) for a year!!
$167/month!!!!! |
That will also drop nicely as your tickets come off your record (assuming you don't rack up anymore). :) |
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| AdReNaLiNa |
My insurance just came up for renewal in February and it's going up even though my record is perfect now..
I'm with State Farm and they renew every six months. Last time I had a significant drop after an accident came off my record (3 years) but now the premium increased :whip:
I think I'll be checking out PC now.. any other good picks? |
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| kabelicious |
I feel your pain.
At my height, insurance was $550/mo for 4 months out of 6 on a 6-month policy. It was the suck and the bite all in one. Now, it's down to $370/mo for 4 months out of 6 and, in August, it'll all be over and I'll be back to $119/mo on a 12-month stretch.
I'm with AAA currenly and have been since I was 17. Looking around, none of them are as good a discount and I've had them forever. Right in time for poor studenthood, the rate drops....at least I can honestly say I will never speed again in my life after the hell of insurance these past four years.
:( |
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| Xavier Moriarty |
| quote: | | At my height, insurance was $550/mo |
WOW.....
i got renewal starting fab 10th and its 500.18$ and there is no way in earth that im paying that much cause thats unreal.
my monthly rate for my car is 225$, so no
ill check this out too, if not im selling my car and im not drivig for one year at least.
floorwhore 25 years old minus 2 tickets, youre one lucky bastard. your rates are gonna go wayyy down |
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