Insurance is a scam
03-24-2010, 12:11 PM
#16
Burning Brakes
Join Date: Jan 2010
Location: erin, Ontario, Canada
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I have zero accidents in 25 years, however with multiple speeding tickets my 08 C2S is $4,000 per year. 2 tickets with P-car others with winter beaters. Peel region has the highest ticket rates out of any region in GTA=I pay and I know better.
03-24-2010, 01:09 PM
#17
Three Wheelin'
Join Date: Jan 2010
Location: Durham Region/GTA East, Canada
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Well wait till your next renewal. Anyone that is renewing right now is seeing the full effect of the insurance companies grip on us. I have seen my insurance on my DD increase by 20%, and my "toys" go up almost 40% this month!!!
Zero accidents/claims/traffic tickets in over 20 years with the last 15 years with the same company! And I have a very good rate compared to when I have shopped around, in which some companies refused to insure my older "toys" at all. I need to stay put until they force me out. or sell the toys.
Zero accidents/claims/traffic tickets in over 20 years with the last 15 years with the same company! And I have a very good rate compared to when I have shopped around, in which some companies refused to insure my older "toys" at all. I need to stay put until they force me out. or sell the toys.
03-24-2010, 04:51 PM
#19
Drifting
Another money grab being floated by the insurance industry...
http://wheels.blogs.nytimes.com/2010...insurance/?hpw
Get it over with - just stick the device up my yahoo and charge the OPP a fee to watch my colon working when they pull me over.
The idea fails in that (and they know this) the device cannot SEE you failing to check your blind spot or how many cars you cut off, nor your lack of lane control or how many yellows and red lights you went through. Whats next - an increase because I drove through Scarborough and not Forest Hill on Monday??
http://wheels.blogs.nytimes.com/2010...insurance/?hpw
Get it over with - just stick the device up my yahoo and charge the OPP a fee to watch my colon working when they pull me over.
The idea fails in that (and they know this) the device cannot SEE you failing to check your blind spot or how many cars you cut off, nor your lack of lane control or how many yellows and red lights you went through. Whats next - an increase because I drove through Scarborough and not Forest Hill on Monday??
03-24-2010, 08:40 PM
#20
Rennlist Member
Thread Starter
It is indeed a racket. You should write a letter to TD, enclosing a copy of your new policy, including rates, to say 'here, eat some ****'. Doubt it'd do any good, but it might.
How much damage was there? Not only are you dealing with the premium hike, you've now also got the accident on your record which, to some buyers, will lower the value of your car. Pull a Carproof report and there it is, insurance claim for $xxxx. When we see those cars at auction, we pass, even if it's a small amount.
My rule of thumb is, unless it's a write-off, I pay for damage out of pocket. Only happened once to the P-car ($2000 paid out of pocket), and once to the Honda (day my second daughter was born I crunched the driver's side door on a concrete post in the parking garage of the hospital - still haven't got it fixed...)
How much damage was there? Not only are you dealing with the premium hike, you've now also got the accident on your record which, to some buyers, will lower the value of your car. Pull a Carproof report and there it is, insurance claim for $xxxx. When we see those cars at auction, we pass, even if it's a small amount.
My rule of thumb is, unless it's a write-off, I pay for damage out of pocket. Only happened once to the P-car ($2000 paid out of pocket), and once to the Honda (day my second daughter was born I crunched the driver's side door on a concrete post in the parking garage of the hospital - still haven't got it fixed...)
03-24-2010, 08:49 PM
#21
Rennlist Member
Thread Starter
It is indeed a racket. You should write a letter to TD, enclosing a copy of your new policy, including rates, to say 'here, eat some ****'. Doubt it'd do any good, but it might.
How much damage was there? Not only are you dealing with the premium hike, you've now also got the accident on your record which, to some buyers, will lower the value of your car. Pull a Carproof report and there it is, insurance claim for $xxxx. When we see those cars at auction, we pass, even if it's a small amount.
My rule of thumb is, unless it's a write-off, I pay for damage out of pocket. Only happened once to the P-car ($2000 paid out of pocket), and once to the Honda (day my second daughter was born I crunched the driver's side door on a concrete post in the parking garage of the hospital - still haven't got it fixed...)
How much damage was there? Not only are you dealing with the premium hike, you've now also got the accident on your record which, to some buyers, will lower the value of your car. Pull a Carproof report and there it is, insurance claim for $xxxx. When we see those cars at auction, we pass, even if it's a small amount.
My rule of thumb is, unless it's a write-off, I pay for damage out of pocket. Only happened once to the P-car ($2000 paid out of pocket), and once to the Honda (day my second daughter was born I crunched the driver's side door on a concrete post in the parking garage of the hospital - still haven't got it fixed...)
05-30-2010, 07:46 AM
#22
Rennlist Member
It isn't ?
Well perhaps you could explain why I am paying accident benefit premiums on three insurance policies, yet I can only claim on one of them even if I've had an accident in all three vehicles.
Accident Benefits should be tied to the person's driver's licence....it has nothing to do with my vehicle, but then, insurance companies would be making a lot less mney...in other words, they could scam us less. Furhtermore, I am already covered by my workplace insurance for loss of income, etc.
SCAM!!!!
Well perhaps you could explain why I am paying accident benefit premiums on three insurance policies, yet I can only claim on one of them even if I've had an accident in all three vehicles.
Accident Benefits should be tied to the person's driver's licence....it has nothing to do with my vehicle, but then, insurance companies would be making a lot less mney...in other words, they could scam us less. Furhtermore, I am already covered by my workplace insurance for loss of income, etc.
SCAM!!!!
05-30-2010, 10:07 AM
#23
Rennlist Member
As we discovered last month it really pays to shop for insurance. We had been insured through PC and word has it they want out of the business. That was pretty clear when we got a renewal 40% higher than the previous year, with no changes to our information ( $ 1950) for two cars. We shopped and found TD highest at $2300, Belair direct and CAA were second cheapest at $1700+/- and the best rate was ScotiaBank though Desjardins at $1350.00. That included the $70.00 for the first claim forgiveness.
05-30-2010, 10:14 AM
#24
Odd Posts
Rennlist Member
Rennlist Member
This is an interesting thread...as I have only experienced the opposite.
I am with TD Meloche Monnex through one of their affinity programs and have been for 15 years for both auto and residential. They have always been helpful and very reasonably priced.
My total premium for the Subaru and 996 are $2,100 per annum (it was $2,700 with the 951). That being said everything has $2,000 deductible. I have had one at fault accident (used my forgiveness) and a couple of other claims over the period and no speeding violations.
I am with TD Meloche Monnex through one of their affinity programs and have been for 15 years for both auto and residential. They have always been helpful and very reasonably priced.
My total premium for the Subaru and 996 are $2,100 per annum (it was $2,700 with the 951). That being said everything has $2,000 deductible. I have had one at fault accident (used my forgiveness) and a couple of other claims over the period and no speeding violations.
05-30-2010, 12:33 PM
#26
Instructor
Join Date: Jul 2003
Location: Wasaga Beach, Ontario
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Cheap is good but not worth it if you do need to put a claim in sometimes. Lombard basically raped me when my 911 was vandalized. I had a appraisal done the summer of 08. That fall while away on a weekend holiday due to my truck being in the shop I had to leave the car outside. Keyed on both sides and 4 knifed tires. Insurance gave me a check for under $2000. Paint was an 8/10 and tires still had nubs on them. If you don't have the money to fight them you are screwed. Even their ombudsman ignored my complaints. Insurance is definitely a scam. RBC has all my policied now but I still shop around regularly
05-30-2010, 01:02 PM
#27
Team Owner
Insurance companies charge you through the roof and intimidate you into not making a claim. There is no question, this is basically legalized extorsion. So Like Chrstien i learn to play the game . Don't buy ridiculously expensive cars get liability only , and be prepared to walk away .. because if you ever make a claim , large or small . they are gonna make it back from you in spades ,, you can count on it ..
05-31-2010, 01:56 PM
#28
Rennlist Member
05-31-2010, 02:35 PM
#29
Rennlist Member
In some respects it seems like Accident Benefits coverage picks up where our socialized medical system leaves off. So for example, if I have this correct ... if a bicyclist hits a parked car and is injured, by law the a.b. coverage on the insurance policy for the parked car picks up the medical expenses for the injured bicyclist ... just to add fuel to the car v. bicyclist debate
I think bicyclists should have to carry mandatory liability insurance. What if one hits a pedestrian and neither own a car and therefore do not have insurance.
I almost had a bicyclist take me and my motorcycle out. The bonehead did a 180 on a country road without even looking; no driveways or roads to turn into. I almost cut the inbred in half. His rear tire left a tire mark on my left engine protection bar. Lucky for him I didn't have ABS and that I didn't panic. I turned around...we, actually I had words with him.
BTW, full coverage on my 993 is under $800 if I recall. Ever notice how they lure you in with a good rate and then it goes up by far more than the inflation rate even though your car depreciates.
05-31-2010, 02:40 PM
#30
Rennlist Member
It isn't ?
Well perhaps you could explain why I am paying accident benefit premiums on three insurance policies, yet I can only claim on one of them even if I've had an accident in all three vehicles.
Accident Benefits should be tied to the person's driver's licence....it has nothing to do with my vehicle, but then, insurance companies would be making a lot less mney...in other words, they could scam us less. Furhtermore, I am already covered by my workplace insurance for loss of income, etc.
SCAM!!!!
Well perhaps you could explain why I am paying accident benefit premiums on three insurance policies, yet I can only claim on one of them even if I've had an accident in all three vehicles.
Accident Benefits should be tied to the person's driver's licence....it has nothing to do with my vehicle, but then, insurance companies would be making a lot less mney...in other words, they could scam us less. Furhtermore, I am already covered by my workplace insurance for loss of income, etc.
SCAM!!!!
