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poolays 04-01-2013 04:49 PM

insurance
 
Anyone know where to get a good deal on car insurance? i pay $215/mo now for just liability and i think its a bit high. I have no accidents,no tickets and im 25. Also its hard trying someone to insure my 92 E36 to begin with

pawelgawel 04-01-2013 05:52 PM

quite high... You should always call around every two or three years and get quotes. your biggest problem is your Postal Code... it makes a world of a difference. Toronto Brampton and Mississauga have crazy rates.

If you have a family outside of GTA, see if you can use their postal code. you can have two, one as mailing address and one as permanent address.

poolays 04-01-2013 06:12 PM

Thanks for the tip :)

poolays 04-01-2013 09:31 PM

i just got a quote for a 98 328i that im gonna buy, using the same home adress, it is $208/month for a newer car, weird....... Belair Direct seems to be the cheapest across the board unless i change my adress to my cottage in huntsville which lowered the quote on my 92 to 104/month. crazy..................

madonthemike 04-02-2013 12:49 AM

Quote:

Originally Posted by poolays (Post 1604159)
i just got a quote for a 98 328i that im gonna buy, using the same home adress, it is $208/month for a newer car, weird....... Belair Direct seems to be the cheapest across the board unless i change my adress to my cottage in huntsville which lowered the quote on my 92 to 104/month. crazy..................

If you are part of a professional organization you may get better rates with TD Meloche Monnex or The Personal.

propr'one 04-02-2013 08:02 AM

when you post insurance threads, be sure to post your commute. my car is not a commuter as it is not my primary transport to work/school and this drops my premiums significantly.


i do not recommend lying about where you live. it is very easy for an insurance adjuster to prove you lied about where you lived and deny your claim.

pawelgawel 04-02-2013 07:40 PM

^ He wouldn't be lying, legally you can use two addresses. I guess you can look at this as a loop hole. Insurance companies use loop holes 99% of the time ;)

damameke 04-02-2013 09:21 PM

Quote:

Originally Posted by pawelgawel (Post 1604312)
^ He wouldn't be lying, legally you can use two addresses. I guess you can look at this as a loop hole. Insurance companies use loop holes 99% of the time ;)

Yup,, ask Mike Duffy, he knows how collect $20,000 per year on his cottage that he never lived in as his primary home..but it is legal until proven otherwise

Beemsboy27 04-03-2013 12:15 PM

Who are you with for insurance?

propr'one 04-03-2013 12:47 PM

I'm with dominion of canada. There's not much point in lying to your insurance company, since they can and will deny your claim because of it. its not very hard to prove where someone lives.

canukgtp 04-04-2013 02:01 PM

Wow those are crazy rates, I don't even pay 140$/mth for full coverage on my M3 as secondary vehicle and 08 Silverado as daily driver...

I've got a group rate with TD Meloche Monnex for being a grad from my university, so as mentionned above, look into that if you have some association or professional org.

nab24- 04-04-2013 02:21 PM

His insurance is outrageous because he live in toronto, i live up in keswick and the rates are equally as bad. I put mine fully under my mothers name and had her insure it so im only paying 70$ a month for just liability.

Try getting a quote from belair direct. Thats who im with on my neon and they are by far the cheapest price i could find. 21 same thing no accidents or tickets.

Nab24-

hockeyfan27 04-05-2013 02:56 PM

Quote:

Originally Posted by poolays (Post 1604102)
Anyone know where to get a good deal on car insurance? i pay $215/mo now for just liability and i think its a bit high. I have no accidents,no tickets and im 25. Also its hard trying someone to insure my 92 E36 to begin with

Your price is about average for a single car policy in GTA. If you can combine your car with a property insurance you can get 10-15% off the car. If you have 2 cars; yours and your g/f's or significant other, you can put both cars on one policy to get a 10 - 15% multi-vehicle discount.

There are a good number of companies out there that are OK with the older cars. You'll likely have better luck with a broker as they have access to more companies than a call centre/bank.


Quote:

Originally Posted by pawelgawel (Post 1604105)
quite high... You should always call around every two or three years and get quotes. your biggest problem is your Postal Code... it makes a world of a difference. Toronto Brampton and Mississauga have crazy rates.

If you have a family outside of GTA, see if you can use their postal code. you can have two, one as mailing address and one as permanent address.

Quote:

Originally Posted by poolays (Post 1604114)
Thanks for the tip :)

Getting quotes every 2-3 years is good advice.
Lying on a contract that is supposed to provide you millions of dollars of compensation if you need it... not as wise.

If you get caught lying about your address (read: the territory the car is primarily operated in) or who actually drives the car etc... it is worse to your record than any accident or conviction and stays on your record longer.

Quote:

Originally Posted by poolays (Post 1604159)
i just got a quote for a 98 328i that im gonna buy, using the same home adress, it is $208/month for a newer car, weird....... Belair Direct seems to be the cheapest across the board unless i change my adress to my cottage in huntsville which lowered the quote on my 92 to 104/month. crazy..................

Every car gets an individual rating based on the claims experience of that specific model. A new Volvo wagon will almost always be cheaper then even the oldest BMW sedan. A Subaru sedan will almost always be cheaper then a ford wagon. it doesn't always make sense! (it is insurance, after all).

Quote:

Originally Posted by nab24- (Post 1604611)
His insurance is outrageous because he live in toronto, i live up in keswick and the rates are equally as bad. I put mine fully under my mothers name and had her insure it so im only paying 70$ a month for just liability.

This seems like a neat cost saving measure, but it doesn't build your own insurance experience and one day when you go to get your own car in your own name, you'll get spanked with a beginners rate. I've seen people lose a potential job because it was too expensive for their prospective employer to add them to the company policy. It doesn't matter how long you've been borrowing your mommy's car. You can even be paying the lease/loan on the car and the insurance being withdrawn from your account. If you aren't listed on the policy as an operator, you aren't getting credit for the experience.

Putting the consequences of getting caught before/if anything happens aside.
Now, let's say you have an accident and injure a passenger in the other car. You're at fault and they successfully sue and win. As the owner of the car, you MOM gets sued. If the award is beyond the limits of 'her' policy it's her assets they come after.

It is a lot of risk to assume on a parents part to save your kid a grand or two a year.

OP: Go to the IBAO website to find a local broker or PM me if you'd like a quote.

Good luck!

nab24- 04-05-2013 03:09 PM

No im only doing that with my bimmer, i have a dodge neon thats fully under my insurance for that exact reason.

pawelgawel 04-05-2013 03:51 PM

Everyone knows Insurance companies are one of the biggest “legal” frauds in this world. They make $billions$ every year and now have cut their expenses and OUR coverage by about while increasing our rates for no reason at all.

Yes, GTA has many fraudulent insurance cases, but how is this any reflection on those who obey the laws and regulations. Those individuals are gouged left and right by everyone with greedy paws. OP, if you can, use an outside postal code. It’s not a fraud. No one can tell you where to “live” and where to “work”.

My blood boils when I hear someone defending insurance companies... we pay thousands every year and when it comes to a small claim in 10-15 years, the rates double or triple for the next 5-6 years. A speeding ticket worth 10km over should not increase your rates!

Insurance is a Business, and business is a gamble, you win some you lose some. But for “them” it’s always a win, no matter how you look at it. They pass on their expenses to the people no matter what the circumstances are, just like the Oil industry.
It should be Government regulated, and it shouldn’t punish good drivers for proud ownership of their vehicles.

.... there.. ok. im good now


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