Insurance Blues

[subabus]

Picked up my beautiful 1993 Exceed on Friday. Today is Tuesday and my insurance company called to tell me that they had made a mistake and couldn't insure her. She is now parked as of today unless I can get affordable insurance coverage. I live in Ontario. Can anyone give me any direction?

[jessef]

Search = ontario

Result = http://www.delica.ca/forum/need-insuran ... -9036.html

Thanks to some leads from "Bonsai", I was talking with two different insurance companies here in London, Ontario. The first quote I got was from a Company called Preferred Insurance who could only insure the Delica seperate from my wife's car and our home insurance. It was going to be with a company called Nordiq...terrible price as well. $2400/yr, $205/month!!

The second lead was for Allstate. We were able to get both vehicles and home insurance all together. Took only a couple days to sort everything. The Delica is going to be $1100/yr, or $91/month (couple bucks cheaper per month from the previous insurance I had here in Ontario until they sent a letter saying they weren't going to insure it anymore). I'm 29 years old, no claims, driving since 16 etc...

So, if you live in Ontario and need insurance on your Deli, call Jay Winters at Allstate

allstate.jpg

[Mbryant]

That is sad and upsetting news. The previous owner of my Delica had it insured at Allstate in Bracebridge. So far I have had no issue with Co-operators.

By the way did I see you driving north on Manitoba St. on Monday night?

[nxski]

I'm pretty jealous of those rates. I'm with ICBC right now and can't wait to turn 25 and get out of the system. My rates are about $290/month

[Paule]

I often laugh when I hear people bash ICBC and say private insurance is better... I've seen both sides of the coin, and ICBC is better. Hands down.

p

[konadog]

I often laugh when I hear people bash ICBC and say private insurance is better... I've seen both sides of the coin, and ICBC is better. Hands down.

p

Totally agree - That's not to say ICBC is without problems, but it's better than the alternative.

[nxski]

I don't have a problem with ICBC as an insurance agency (apart from certain flaws that you will run into with any agent), I would definitely stick with them if they could offer even a somewhat affordable option but considering the insurance payments are more than what I'm paying a month for my vehicle loan it just doesn't seem feasible at the moment. With gas and maintenance on top of that I'm looking at more than $1000 a month.

[jessef]

I don't have a problem with ICBC as an insurance agency (apart from certain flaws that you will run into with any agent), I would definitely stick with them if they could offer even a somewhat affordable option but considering the insurance payments are more than what I'm paying a month for my vehicle loan it just doesn't seem feasible at the moment. With gas and maintenance on top of that I'm looking at more than $1000 a month.

That is completely acceptable. That is because of your age. Lower age = higher risk = proven fact.

Everyone pays it. When you get the experience under your belt/driving years, ICBC rewards you with a hefty discount.

I pay $104 a month with 2mil liability, 300 comprehensive/collision, roadstar and to/from work&pleasure.

Where ICBC really does shaft you is if you get into an accident and you get a surcharge ontop of your normal rate when you're young.

Example.

I got my license at 16 and started off at 0% discount. When I was 18, I was changing lanes doing 40km/hr in Richmond and the guy in front of me slammed on his brakes because of his new cell phone (the old brick-style new for cars at the time) rang out. Fortunately, I braked in time but love tapped his rear bumper. Damage was under $200. The good news was that he was my neighbour. The bad news was that he turned out to be an ass. I offered to pay the scratch fill/paint at any bodyshop and he said okay. The next day I was contact by an ICBC adjuster that said I had to go in because of this claim the fellow just made.

$200 then turned out to be over $4,000+ in additional insurance rates over the next 6 years that I have to wait to get back to where I started in the first place.

The moral of the story is try to stay away from accidents. This is quite simple in reality because it's very simple to spot a risky situation and an aggressive driver. This awareness will save you 99% of the time. The other 1% is out of your control and if it happens, it happens.

[deli1733]

dont know how you could pay that much im 24 and am paying 140 and change for my insurance and i had an accident a few years ago...

[Pajero]

I your under 20 and need car insurance you should get quotes from private insurance and then with ICBC, after that you wont think ICBC is all that bad trust me.....I'm 30 and have never had a claim and private insurance is still way higher and i'll I was told was to come back and see again. Sorry if I'm not good enough now to get your best rates then forget it.


Joe

[nxski]

I can't even get insurance from a private agency. ICBC wasn't too bad to begin with but I did have an accident which is why it's high now. That was a year ago and I'm at a 30% surcharge now. I understand that it is a higher risk for younger people (as was proven by the accident) but they didn't have to pay a dime when I was in the accident, I fronted the $5000 of damage and still I get the shaft when it comes to insuring a new vehicle, that's what doesn't seem right. My parents get 15% lower than ICBC's best possible rate with more perks so I just can't wait until I can switch over. My monthly payments are $289 / month which would pay for my entire vehicle in less than 14 months.

[subabus]

I can't even get insurance from a private agency. ICBC wasn't too bad to begin with but I did have an accident which is why it's high now. That was a year ago and I'm at a 30% surcharge now. I understand that it is a higher risk for younger people (as was proven by the accident) but they didn't have to pay a dime when I was in the accident, I fronted the $5000 of damage and still I get the shaft when it comes to insuring a new vehicle, that's what doesn't seem right. My parents get 15% lower than ICBC's best possible rate with more perks so I just can't wait until I can switch over. My monthly payments are $289 / month which would pay for my entire vehicle in less than 14 months.

[92pajero]

I often laugh when I hear people bash ICBC and say private insurance is better... I've seen both sides of the coin, and ICBC is better. Hands down.

p

Dunno about that out in AB with private insurance with collision for my 92 pajero exceed its $487.00 a year

[nvanadm]

subabus,

any luck with your insurance in Ontario?

[RichD]

I often laugh when I hear people bash ICBC and say private insurance is better... I've seen both sides of the coin, and ICBC is better. Hands down.

It is not a two-sided coin, and you can't have seen all sides.

In an open market insurance model you have options. For example, my last insured vehicle in Quebec cost me 200 a year. That's right, 200 a year. My motorcycle was 99/yr. Yes, PER YEAR.

The exact same vehicles came with me to BC. The car went up to just under 100/mth. The bike was a bit less; 70/mth. The rates have gone up since.

There are other factors as well; for example age is a contributing factor to cost in some markets. I agree with this practice as younger drivers cost the system more and should pay a penalty. I know people who have paid a LOT more in a no fault system because they have a lot of accidents on record under age 25. I know people who have been denied insurance.

There is also the way insurance is sold. In Qc you get your plates, call your insurer and you are insured. Done. The paperwork comes in the mail. You can buy insurance from your bank, from any number of brokers - options abound. Don't like your insurance company? Go somewhere else.

Your experience is your experience. It is not the whole picture.