I don't yet have a Canadian driver's licence, and the country from where my driver's licence originates does not have a reciprocal licence agreement in place with Canada.

I am 41 years old. My foreign insurance history is long and claim-free and my driver's licence is clean, but it seems that only US foreign experience carries any weight with Canadian insurers.

I will therefore need to start at G2 licence level (i.e. halfway through what would normally be a 2 year process from scratch to obtain a full G licence) and then wait 12 months before I can obtain my full G licence.

A broker provided the following quotes this week to insure a 2009 - 2011 Cayman S:

- Monthly car premium of $487 I had specified pleasure usage only and 10,000 miles a year. I'm not in a high risk area (secure underground parking in Oakville), so I dread to think what the premium might be if I were living in one of Toronto's grittier neighborhoods...

- Multi-policy monthly premium for combined home and car insurance of $453, which breaks down to $411 for the car and $42 for home. It seems counter-intuitive that combined home and car insurance would be lower than car insurance on its own, but I guess the car premium alone is so high that the multi-policy percentage discount on that works out at a significant number relative to the home insurance.

- Car premium on its own would drop immediately to about $318 per month (or by $1,100 per year) on receiving my G licence, and with the multi-policy discount applied.

I've only spoken with one broker and would still need to shop around for insurance when I locate the car I want to buy, but these numbers are pretty sobering. I don't think the $1,100 difference in premium between my G2 and G licences is enough to keep me from buying the car I want for a year, but any reduction in these hefty sums would obviously be very welcome.

If anyone has some pointers or contacts they could share, these would be gratefully received!

 

Welcome to Canada where you must bend over and take it.

 

Keep at it and don't give up. We had to really fight with our insurance company when my wife moved from Colombia. In the end they agreed to recognize her experience when we got a letter from her insurance company in Bogota.

She was able to skip a portion of the graduated bull **** as well. But that was a few years ago.

 

Yeah, without lube too by the looks of things

Thanks Adamt. Will certainly give it my best shot, even if it means contacting all 30-odd insurers in Ontario.

 

try rbc insurance. we recently had a thread on this

 

You have to pay extra for lube.

 

Wow, what a warm open-arms welcome to Canada. But unfortunately, that's part of the experience of living in this country.

Definitely call other brokers. Certain brokers only deal with certain insurance providers, so it's quite possible the broker you spoke to only has access to a limited number of insurance companies. Maybe another broker will have access to another provider with much better rates.

Or buy an old Porsche and get classic insurance

 

BAHAHAHA

 

$487 is not bad for a new Driver on a car like that.

 

Change your deductible. The deductible on my 991 is $5,000.00 and $2,500.00 on the two MB's. That saves me a ton of money.

If you do that it could save you as much as 50% on your premium.

If you are a good driver, what are the odds any accident will be your fault. Bank the difference in premium and over a two year period it will most probably cover your deductible in the unlikely event you have an at fault accident.

Insurance companies hate insuring cars built for speed. By you putting more skin in the game they calculate you will be a more defensive driver.

 

curious what country are you from?
Christian, you can only get classic car insurance if you have a daily driver.

 

[smacks forehead] Yes, of course! I forgot about that.

 

And if you insure an older Porsche with regular insurance, depending on the year, they will not cover collision, so if you smash it..too bad for you.

 

Fixed this for you. I pay $1k/yr for pleasure use only.

 

When I was 20 years old I called TD Insurance to find out what I would pay on a 2003 911 Turbo just as a joke... It was $18,000/year.....

I am now 30 years old and own a 2002 911 Turbo, and insurance is $900/year with the same company....

Its all about risk.. If they don't know any history about you, there is more risk than someone who has had a clean record for 15 years...

peng also helps, its the lowest car insurance you can possibly have..