Topic: Ahhh Insurance!

[mmret]

Last year's policy on an annualized basis: $1445

Offered renewal price on an annualized basis: $1550.

No claims, no accidents, no tickets, and I certainly did not get younger.
I hate insurance. Imagine what it would be like if I got into a fender bender.

[The Mighty Duck]

Reminds me of a couple years ago when ICBC posted record profits, sent everyone a rebate check, and then jacked up rates the following year. 

Insurance companies are scum.   

[mmret]

Ottawa is getting a rather large dumping of snow today. Perhaps I should head home now, very carefully...

[wing]

Meh snow -- everyone here stayed home -- scaredy cats.

[dr_spock]

Interesting, my car insurance premiums went down the same amount for this year.  I had one not at fault claim last year for a rear ender.

It appears that they increase yours to cover my decrease. 

[quadzilla]

Last year's policy on an annualized basis: $1445

Offered renewal price on an annualized basis: $1550.

No claims, no accidents, no tickets, and I certainly did not get younger.
I hate insurance. Imagine what it would be like if I got into a fender bender.

Because you are older you are more of a risk 

Except for when I moved to TO my rates have been reduced every year.

[UmroAyyar]

My car insurance premium was raised approx 10% in dec 2006, had two no at fault accidents (hit and run and slow bump from the driver failing to stop in snow). Dec 2007 premium went down about 21%.

[Wolfe]

My theory is that there are enough people out there who simply renew their insurance without thinking or comparing rates so the insurance companies have an incentive to offer competitive rates to get your business in the first place and then inch rates upwards in the following years.

My last insurance co. tried to raise my rate from $900 to $1,100 per year even though I had no claims...switched company and now I pay $750 for the '05 Tucson and $90 dollars for my old Altima! Pays to be middle aged 

...and to not live in Ontario!

[ktm525]

Last year's policy on an annualized basis: $1445

Offered renewal price on an annualized basis: $1550.

No claims, no accidents, no tickets, and I certainly did not get younger.
I hate insurance. Imagine what it would be like if I got into a fender bender.

Is that for one car? Yikes!

I just got the plicy for the Dakota. Full comprehensive with  1 million liability. $740. Even my Volvo V70R is only $825.

Is that a private insurer?

[JBrill]

Last year's policy on an annualized basis: $1445

Offered renewal price on an annualized basis: $1550.

No claims, no accidents, no tickets, and I certainly did not get younger.
I hate insurance. Imagine what it would be like if I got into a fender bender.

That's quite odd, I'd give your Insurance Company a call and ask the "What gives?"

My rates went down from last year which was surprising as I traded in my 1999 Mazda Protege for a 2007 Honda Odyssey Touring ($3k vehicle for a $30k vehicle).

Seriously, if everything for you is equal as claimed, call them up.

Jb

[Wolfe]

Last year's policy on an annualized basis: $1445

Offered renewal price on an annualized basis: $1550.

No claims, no accidents, no tickets, and I certainly did not get younger.
I hate insurance. Imagine what it would be like if I got into a fender bender.

Is that for one car? Yikes!

I just got the plicy for the Dakota. Full comprehensive with  1 million liability. $740. Even my Volvo V70R is only $825.

Is that a private insurer?

He lives in Ottawa so yes that's a private insurer. The private car insurance system here in Ontario sucks.

That probably is for one car. After I got my Miata, which is stored for the winter, I thought about getting a beater as well. I talked to my insurance broker and found that the extra insurance cost was not worth it. I considered it a huge ripoff. I've been taking the bus instead.

[mmret]

I'd threaten them with something like "ooooh i'll switch to TD Meloche Monnex!" but in reality, all the other insurers want $3k-$4k. They are by FAR the cheapest.

However I would like to know what happened, at very least.

Being 22 years old is not good for car insurance rates.

[UmroAyyar]

I'd threaten them with something like "ooooh i'll switch to TD Meloche Monnex!" but in reality, all the other insurers want $3k-$4k. They are by FAR the cheapest.

However I would like to know what happened, at very least.

Being 22 years old is not good for car insurance rates.

I still pay close to $2200 for the Camry and 30+, what are you complaining about eh? 

[RunsinLight]

I was just wondering the opposite. Mine seems to have went down by almost $30.

[mmret]

I'd threaten them with something like "ooooh i'll switch to TD Meloche Monnex!" but in reality, all the other insurers want $3k-$4k. They are by FAR the cheapest.

However I would like to know what happened, at very least.

Being 22 years old is not good for car insurance rates.

I still pay close to $2200 for the Camry and 30+, what are you complaining about eh? 

You are in TO, are you not? My insurance in Hamilton was $2300 so I imagine TO would be even higher than that

[ArticSteve]

You're 22, you drive a bought new 06 TSX which I assume has the waiver of depreciation on it, and you pay only $1550. 

Dude, that's half price. 

OK, who is the insurance carrier?  PLEASE   

[mmret]

Belairdirect. I scored a 5% student discount at the time, which rolled over into a 5% Nortel discount.

In absolute terms I can't complain but I would love to know exactly why it went UP in price.

Meloche wanted about $5k.

[wing]

Don't you guys at the big N have a plan?  I get awesome rates through my company.  I pay like $1200 for an S2000 and Mazda3

[UmroAyyar]

Belairdirect. I scored a 5% student discount at the time, which rolled over into a 5% Nortel discount.

In absolute terms I can't complain but I would love to know exactly why it went UP in price.

Meloche wanted about $5k.

Well the 'UP' reason I got earlier was 'we increased it for everyone' and the usual that the overall risk assessment has gone higher. You'd get something similar I guess.

[mmret]

Don't you guys at the big N have a plan?  I get awesome rates through my company.  I pay like $1200 for an S2000 and Mazda3

Never noticed anything like that on the employee discounts list thing.

We can buy plenty of domestic cars at invoice +2% though