Insurance suggestions for 'high risk'?
08-25-2010, 01:21 PM
#1
Nordschleife Master
Thread Starter
Insurance suggestions for 'high risk'?
A member of my family (not me) has 5 speeding tickets in the last 17 months and has been quoted $12000 for insce.
Does anyone have any suggestions where I might be able to get it cheaper?
Thanks.
Does anyone have any suggestions where I might be able to get it cheaper?
Thanks.
08-25-2010, 01:24 PM
#2
Burning Brakes
Join Date: Jul 2009
Location: Markham, Ontario, Canada
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I think with that kind of record, it may be hard to get a reasonable rate. Drivers age, experience, the type of car and residential location also play a factor in the rate.
With that said, I can pm you the info to my insurance fellow, my renewal is up next week and he quoted me $1200 less per year then my existing provider who I've been with for 6 years.
With that said, I can pm you the info to my insurance fellow, my renewal is up next week and he quoted me $1200 less per year then my existing provider who I've been with for 6 years.
08-25-2010, 01:28 PM
#4
Burning Brakes
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Not always true, I've been with my broker for 6 years and I went directly to an Allstate agent. He quoted me the same policy with some other benefits and its almost $1200 cheaper. This is within the last couple of weeks.
08-25-2010, 01:39 PM
#5
Nordschleife Master
Thread Starter
I think with that kind of record, it may be hard to get a reasonable rate. Drivers age, experience, the type of car and residential location also play a factor in the rate.
With that said, I can pm you the info to my insurance fellow, my renewal is up next week and he quoted me $1200 less per year then my existing provider who I've been with for 6 years.
With that said, I can pm you the info to my insurance fellow, my renewal is up next week and he quoted me $1200 less per year then my existing provider who I've been with for 6 years.
08-25-2010, 02:09 PM
#6
Drifting
5 tickets in 17 months??? Wow. Sounds like they don't want him - hence the $12K est. If that includes claims then I could see the bill, but without impacts I guess with 5 tickets they figure he's due for one and depending on the car(s) he drives and his age etc - yeah they want to 'de-customer' him from their company.
Looks like each ticket nailed him at some math rate increase per that looks like Voodoo math. Something seems fishy that they would check to see if he had tickets unless it was a policy of this firm to do so. I know the Ministry charge a fee to insurance companies so if you had 14000 clients this could add up in a hurry. Maybe they do an over 16 under 25 check as a policy? I'm safe!!
The only other way to get cheaper rates is if you buy a company and self insure...
Looks like each ticket nailed him at some math rate increase per that looks like Voodoo math. Something seems fishy that they would check to see if he had tickets unless it was a policy of this firm to do so. I know the Ministry charge a fee to insurance companies so if you had 14000 clients this could add up in a hurry. Maybe they do an over 16 under 25 check as a policy? I'm safe!!
The only other way to get cheaper rates is if you buy a company and self insure...
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08-25-2010, 02:32 PM
#8
Burning Brakes
Join Date: Jan 2010
Location: erin, Ontario, Canada
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5 tickets in 17 months??? Wow. Sounds like they don't want him - hence the $12K est. If that includes claims then I could see the bill, but without impacts I guess with 5 tickets they figure he's due for one and depending on the car(s) he drives and his age etc - yeah they want to 'de-customer' him from their company.
Looks like each ticket nailed him at some math rate increase per that looks like Voodoo math. Something seems fishy that they would check to see if he had tickets unless it was a policy of this firm to do so. I know the Ministry charge a fee to insurance companies so if you had 14000 clients this could add up in a hurry. Maybe they do an over 16 under 25 check as a policy? I'm safe!!
The only other way to get cheaper rates is if you buy a company and self insure...
Looks like each ticket nailed him at some math rate increase per that looks like Voodoo math. Something seems fishy that they would check to see if he had tickets unless it was a policy of this firm to do so. I know the Ministry charge a fee to insurance companies so if you had 14000 clients this could add up in a hurry. Maybe they do an over 16 under 25 check as a policy? I'm safe!!
The only other way to get cheaper rates is if you buy a company and self insure...
08-26-2010, 12:47 AM
#9
Rennlist Member
how much does facility want for him?
try kanetix.ca website it compares insurance companies based on your info.
Imagine what his insurance would be on a CGT.
it would be cheaper for him to take taxi's everywhere for 3 years till his record is clean.
try kanetix.ca website it compares insurance companies based on your info.
Imagine what his insurance would be on a CGT
.it would be cheaper for him to take taxi's everywhere for 3 years till his record is clean.
08-26-2010, 10:59 AM
#12
Three Wheelin'
Yikes, only 20 and she's got herself into this type of insurance
situation, she's got a long, long road ahead to fix things.
Like others have said, the insurance company is telling her they
don't want to insure her. She may get similar treatment from other
companies. If so, I'd advise taking a few years off from driving,
use public transit until all the violations come off her licence,
then apply for insurance again. Essentially, she'll be looked at as
a "new" driver at that point, and rates will be high, but still
much lower than as a "high risk" driver.
In the meantime, so she doesn't make things worse, explain to her
how a speedometer works and how it can be used in conjunction
with signs on the side of the road to avoid speeding tickets.
situation, she's got a long, long road ahead to fix things.
Like others have said, the insurance company is telling her they
don't want to insure her. She may get similar treatment from other
companies. If so, I'd advise taking a few years off from driving,
use public transit until all the violations come off her licence,
then apply for insurance again. Essentially, she'll be looked at as
a "new" driver at that point, and rates will be high, but still
much lower than as a "high risk" driver.
In the meantime, so she doesn't make things worse, explain to her
how a speedometer works and how it can be used in conjunction
with signs on the side of the road to avoid speeding tickets.
08-26-2010, 01:17 PM
#13
Race Car
Wow, with that kind of driving record I'd be thinking of turning in the car and heading to a bicycle shop... I'm surprised she's been allowed to keep her license.
The best thing to do would be to sell the FJ and buy something much older and cheaper. I know it's not attractive, but it's true. My brother in law was in the same position several years ago - he was driving an F150 and paying over 10k a year for insurance. He sold it and bought a used Focus and his insurance was cut in half. A few years of clean driving and he's back down to regular rates again. Other than that, I'd imagine she's stuck. She might just have to pay those rates for a few years. But if she keeps her nose clean, I think they'll come down fairly quickly. I think tickets drop off your record after 2 years. (might be 3?)
The best thing to do would be to sell the FJ and buy something much older and cheaper. I know it's not attractive, but it's true. My brother in law was in the same position several years ago - he was driving an F150 and paying over 10k a year for insurance. He sold it and bought a used Focus and his insurance was cut in half. A few years of clean driving and he's back down to regular rates again. Other than that, I'd imagine she's stuck. She might just have to pay those rates for a few years. But if she keeps her nose clean, I think they'll come down fairly quickly. I think tickets drop off your record after 2 years. (might be 3?)
08-26-2010, 01:29 PM
#14
Burning Brakes
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