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Ontario Insurance Rates, Seriously this much increase?? (pg. 3)
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| exraver |
| What can you do? Just bend over and try to enjoy it! Ha ha, suckers. |
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| jester |
Thats ed up.
Vive le Quebec :haha: :haha: :haha: :haha:
I know someone, who probably pays that for his Ferrari. |
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| infinity HiGH |
| quote: | Originally posted by ChemEnhanced
you could just live out of your car |
it IS a really nice car! :toothless |
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| ChemEnhanced |
| quote: | Originally posted by miketg23
If the auto insurance companies are "losing money" on this then maybe it's time to go to Saskatchewan's public system. There, and I will transfer my plates shortly, I can insure the latest model of my car and even turbo charged for 500 less than I pay in Ontario. |
You can't even compare the two...there is a big difference in risk when driving in Ontario compared to Saskatchewan. |
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| Moral Hazard |
| quote: | Originally posted by ak87
So my 2003 Sentra Se-r apparently is supposed to go from $280 a month to now $430! (Completely clean record 3 years G-driver) |
Did anything else in your life change... move, change jobs, coverages, deductibles, etc.?
| quote: | Is there not any sort of cap on how much it can increase?
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Indeed, the Financial Services Commission of Ontario must review and set the rates for each insurer at each risk rating and review and approve the formula by which the insurer arrives at their risk rating. So yes, each insurer has caps set on their rates (an minimums).
Generally, if you see a massive increase in your premiums and nothing else has changed then what's happened is FSCO has approved a change in the risk rating formula or the rate of insurance your insurer can charge. If the rate is increasing this essentially means you no longer fit their target market... look around to other insurers as their rates and underwriting criteria will differ and you'll likely find one that is targeting your risk catagory; subsequently, you'll get a better rate. |
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| Nick Cenik |
| Amazingly, my rates have dropped slightly this year even though I had a $5000 accident last February! |
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| VDub |
| I pay $273 for 2 cars, 2 drivers, and the home owners insurance... |
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| miketg23 |
| quote: | Originally posted by ChemEnhanced
You can't even compare the two...there is a big difference in risk when driving in Ontario compared to Saskatchewan. |
The vast majority of Ontario is far more similar to rural Saskatchewan than it is to urban Toronto. Even when my car was insured north of Orangeville I was paying a much higher rate than I can get in Saskatoon. |
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| Magnetonium |
Ontario is a very expensive place to live, its not just insurance. Its ridiculous. My dad has a 212 area code for his mobile (PIMPIN'!!!) and pays ... $20 for unlimited monthy calling within continental USA. Try getting a deal like that with Rogers. My parents drive across the border to get groceries and , they tell me - thats how expensive is over here. |
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| Moral Hazard |
| FYI, the average rate increase approved by FSCO this year was 5.61% |
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| StereoPrincess |
well my insurance decided to go from 1600 a year to 2200 a year.
who do i complain to about the increase thing?
i guess if you are just a broker, that doesn't matter. they basically told me that they can't use the underwriter they did before and now you have to pay greater premium.
i am shopping around tho. |
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| ChemEnhanced |
| quote: | Originally posted by StereoPrincess
well my insurance decided to go from 1600 a year to 2200 a year.
who do i complain to about the increase thing?
i guess if you are just a broker, that doesn't matter. they basically told me that they can't use the underwriter they did before and now you have to pay greater premium.
i am shopping around tho. |
You could complain to FSCO but that will get you no where. |
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