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Old 10-14-2009, 09:02 AM   #1
SamE30e
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Auto Insurance Brokers?

Are there any Insurance brokers on here, if so let me know so I can pm you, I have a question/ inquiry as to a new insurance policy.

Sam
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Old 10-14-2009, 10:14 AM   #2
hockeyfan27
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I PM'd you

I work at my family brokerage. We work with 10+ companies for personal auto insurance and many more for other lines of business (home, commercial auto, business, life, marine, etc...)
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Old 10-14-2009, 10:30 AM   #3
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Originally Posted by SamE30e View Post
Are there any Insurance brokers on here, if so let me know so I can pm you, I have a question/ inquiry as to a new insurance policy.

Sam
I know someone who can offer people who are self employed a good rate. If anyone is interested, mention it here and I'll post his info.
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Old 10-14-2009, 10:31 AM   #4
AdrianBmW
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State Farm Insurance, Give me shout if i can help.
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Old 10-14-2009, 10:33 AM   #5
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I know someone who can offer people who are self employed a good rate. If anyone is interested, mention it here and I'll post his info.
Since when does employment affect auto insurance rates? The OAP1 (ontario automobile policy) is the same across ontario. if your talkin' about disability insurance thats different.
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Old 10-14-2009, 10:52 AM   #6
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I know someone who can offer people who are self employed a good rate. If anyone is interested, mention it here and I'll post his info.
I don't think my insurance asked this question. Would being self-employed have lower premiums? I would have thought they would be more.......since it will probably be assumed you're using it for business use.
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Old 10-14-2009, 11:01 AM   #7
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The OAP1 may be the same, however coverages offered under the OAP differ greatly.

Employment directly affects the rating of the vehicle. If you work for a real estate agency you only need commuting coverage (class 02 = short or class 03 = long). If you are a sales agent for that agency, you most likely need incidental business use coverage (class 07).

There are also provisions for self employment under the OAP1 accident benefits coverages with respect to increasing limits of income reimbursement and other expenses that typically can be in benefit packages offered when you are an employee of a company. Specifically: Caregiver & Dependent care, Medical Rehabilitation & Attendant Care, Death & Funeral coverage, & Indexation Benefit. These aren't limited to self employed people, but we recommend them to who are.

I find that too often when getting auto quotes people are merely asked "Do you drive to work, if so, how far?" when they should also be asked, and what is it that you do for a living, to ensure proper coverage.
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Old 10-14-2009, 11:06 AM   #8
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any idea if self employed coverage would be lower or higher than not being self employed.
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Old 10-14-2009, 11:11 AM   #9
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Originally Posted by hockeyfan27 View Post
The OAP1 may be the same, however coverages offered under the OAP differ greatly.

Employment directly affects the rating of the vehicle. If you work for a real estate agency you only need commuting coverage (class 02 = short or class 03 = long). If you are a sales agent for that agency, you most likely need incidental business use coverage (class 07).

There are also provisions for self employment under the OAP1 accident benefits coverages with respect to increasing limits of income reimbursement and other expenses that typically can be in benefit packages offered when you are an employee of a company. Specifically: Caregiver & Dependent care, Medical Rehabilitation & Attendant Care, Death & Funeral coverage, & Indexation Benefit. These aren't limited to self employed people, but we recommend them to who are.

I find that too often when getting auto quotes people are merely asked "Do you drive to work, if so, how far?" when they should also be asked, and what is it that you do for a living, to ensure proper coverage.
That is too funny when you want to increase the already GENEROUS accident benefits in the ontario policy when the whole industry in canada is trying to make it more reasonable like the other provinces. That why we keep experiencing rate increases. By the way with regards to rating, it doesnt matter if your a slef employed mechanic or a mechaninc at the BMW dealership if they drive the same distance to work then its the same rate. Your right not only slef emplyeed clients can increase the acc. benefits, you can choose to buy more if you make more and want more so theres basically no difference.
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Old 10-14-2009, 11:18 AM   #10
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added quote
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Old 10-14-2009, 11:21 AM   #11
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any idea if self employed coverage would be lower or higher than not being self employed.

It all depends on the use of the vehicle + the vehicle itself, your driving record, your neighbourhood etc.

For a loose example: The personal use rate for Chevy Suburban is MORE then the commercial use rate if that same person is using that vehicle for their general contracting business.

The additional coverages I mentioned previously are added to the policy, each at their own cost. So the quick answer is: higher, but those additional coverage are a direct tax write off.
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Old 10-14-2009, 11:25 AM   #12
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It all depends on the use of the vehicle + the vehicle itself, your driving record, your neighbourhood etc.

For a loose example: The personal use rate for Chevy Suburban is MORE then the commercial use rate if that same person is using that vehicle for their general contracting business.

The additional coverages I mentioned previously are added to the policy, each at their own cost. So the quick answer is: higher, but those additional coverage are a direct tax write off.
Right but you dont need to pass the OTL exam to know that any expense of a company veh. is a tax write off lol.. but your right there is business and there is reg. consumer use and within milage.. either way hockeyfan i bet your a great insurance broker, but as you know all companies operate diffrently so this discussion over ins. is waste of time.. lets help sam out lol
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Old 10-14-2009, 11:34 AM   #13
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That is too funny when you want to increase the already GENEROUS accident benefits in the ontario policy when the whole industry in canada is trying to make it more reasonable like the other provinces. That why we keep experiencing rate increases. By the way with regards to rating, it doesnt matter if your a slef employed mechanic or a mechaninc at the BMW dealership if they drive the same distance to work then its the same rate. Your right not only slef emplyeed clients can increase the acc. benefits, you can choose to buy more if you make more and want more so theres basically no difference.
I agree that the Ontario accident benefits are generous and are a big factor in contributing to rates increasing, but there are definite gaps that need to be addressed when someone is self employed.

I disagree with your example of the mechanics. It is almost a certainty that the mechanic who owns his own shop would be conducting other business in his vehicle (picking up parts etc..), not merely commuting. The class of use needs to be different, otherwise the insurance company could deny coverage if he has a claim. What good is a policy if your claim gets denied?
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Old 10-14-2009, 11:37 AM   #14
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Agreed.

thanks for the discussion.
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Old 10-14-2009, 11:41 AM   #15
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I agree that the Ontario accident benefits are generous and are a big factor in contributing to rates increasing, but there are definite gaps that need to be addressed when someone is self employed.

I disagree with your example of the mechanics. It is almost a certainty that the mechanic who owns his own shop would be conducting other business in his vehicle (picking up parts etc..), not merely commuting. The class of use needs to be different, otherwise the insurance company could deny coverage if he has a claim. What good is a policy if your claim gets denied?
Dont exagerate you know well that in that case a reputable insurance company wont denie a claim.. class rating is for our profit and for a company to make ends meet and to properly rate premiums, if a guy that drives 20klm a day says that he drive 5klm/day we go off of upmost good faith and rate on 5klm, if we find out he drives more we'll change it to the correct class but wont denie a claim. becuase many people change jobs or move locations and drive more or less and dont inform us.. is your compnay dening all those claims also?
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