Click to go to Forum Home Click to go to maXbimmer Home

Go Back   maXbimmer Forums > Misc > Off-topic
User Name
Password


Welcome to Maxbimmer.com!

You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today!

Reply
 
Thread Tools Rate Thread Display Modes
Old 05-10-2011, 10:25 PM   #16
craz azn
6th Gear Member
 
craz azn's Avatar
 
Join Date: Feb 2004
Location: Port Perry
Posts: 7,540
Send a message via MSN to craz azn


Quote:
Originally Posted by HavocSteve View Post
My best under SilverWheels was around 21$/mth with my old E30. I still needed a DD and had to have pictures and everything for it. I think it was around 600$/year.

I got pulled over by Durham Regional Police one time without insurance, lets say the cop was beyond kind as I only got 3 tickets that night instead of the tow truck impounding the car and taking my lisence.
I am interested how you insured your car with the Silverwheels package as I thought you had to be at least 25 years old for that?
__________________

Rippin' Proper | Youtube | Vimeo |
craz azn is offline   Reply With Quote
Old 05-10-2011, 11:17 PM   #17
325isdan
5th Gear Member
 
Join Date: Jun 2007
Location: GTA
Posts: 1,112
For the naysayers





Been with State Farm for almost 10 years.



1995 E36 has full coverage with $500 or $1000 deductible I forget
1989 E30 is just basic coverage.

I used to have it on suspended since I do not drive the E30 and I was only paying $2 for theft and fire but State Farm said either get it covered or we will no longer insure your car, I had it on suspended for 2 years. I opted to pay the $6.58 a month for 12000km a year.
325isdan is online now   Reply With Quote
Old 05-11-2011, 07:47 AM   #18
HavocSteve
6th Gear Member
 
Join Date: Apr 2010
Location: Toronto
Posts: 1,848
Quote:
Originally Posted by craz azn View Post
I am interested how you insured your car with the Silverwheels package as I thought you had to be at least 25 years old for that?
I didn't actually get it insured. I asked for a quote with just the basic information (Car age, type, model). I forgot that they can give you a quote but can still not insure you for the age. I did a lot of shopping around in one day trying to find me some cheap insurance.

Johnathan actually gave me the best pricing around, I believe it was around 2500-2800$/yr as a DD.
__________________

Last edited by HavocSteve; 05-11-2011 at 07:50 AM.
HavocSteve is offline   Reply With Quote
Old 05-11-2011, 09:40 AM   #19
sirex
King Sirex
 
Join Date: Aug 2002
Location: Toronto
Posts: 9,846
I see you also have a universal life policy of 50,000, charging you 35$ a month.

have you considered getting term insurance? It may be substantially cheaper and as well, you may be able to up the insurance coverage.

Quote:
Originally Posted by 325isdan View Post
For the naysayers
__________________

Last edited by sirex; 05-11-2011 at 09:42 AM.
sirex is offline   Reply With Quote
Old 05-11-2011, 10:18 AM   #20
hockeyfan27
5th Gear Member
 
hockeyfan27's Avatar
 
Join Date: Jul 2009
Location: Durham Region
Posts: 943
Quote:
Originally Posted by 325isdan View Post
For the naysayers





Been with State Farm for almost 10 years.



1995 E36 has full coverage with $500 or $1000 deductible I forget
1989 E30 is just basic coverage.

I used to have it on suspended since I do not drive the E30 and I was only paying $2 for theft and fire but State Farm said either get it covered or we will no longer insure your car, I had it on suspended for 2 years. I opted to pay the $6.58 a month for 12000km a year.
That's a good price for the e30! What city are you in? (or how many km from Toronto, if you don't want to disclose your location)
__________________

1998 328ic - Sold
hockeyfan27 is online now   Reply With Quote
Old 05-11-2011, 10:57 AM   #21
325isdan
5th Gear Member
 
Join Date: Jun 2007
Location: GTA
Posts: 1,112
I live in Oakville.
325isdan is online now   Reply With Quote
Old 05-11-2011, 11:14 AM   #22
HavocSteve
6th Gear Member
 
Join Date: Apr 2010
Location: Toronto
Posts: 1,848
I must say. 6.58$ is stupid low lol.. I wish I could even get your 117.88, although I pay roughly 184$/mth for my new MS3 which I think is still pretty good considering my age and also 1 ticket.

They switched me and my girlfriend to married and it took 1 ticket off lol.
__________________
HavocSteve is offline   Reply With Quote
Old 05-11-2011, 12:02 PM   #23
DaveM3_09
2nd Gear Member
 
DaveM3_09's Avatar
 
Join Date: Nov 2008
Location: Mississauga
Posts: 228
Quote:
Originally Posted by hadesm5 View Post
10. Get arrested for fraud
hahahah
__________________
DaveM3_09 is offline   Reply With Quote
Old 05-11-2011, 12:10 PM   #24
325isdan
5th Gear Member
 
Join Date: Jun 2007
Location: GTA
Posts: 1,112
The key is to tough it out. Find one good insurance company, not a broker, and stick with them. It will pay off in the long run. Also make a relationship with your agents. Go in and see them and talk to them. I also found the more honest I am with them, ie upping my yearly driving distance, they will try and find you some kind of extra discount.

When I upped the yearly driving distance on my E36 and told them I had over 300K km on my car they gave me a discount for having a high mileage car. Who knew.
325isdan is online now   Reply With Quote
Old 05-11-2011, 12:34 PM   #25
hadesm5
6th Gear Member
 
hadesm5's Avatar
 
Join Date: Jun 2006
Location: Toronto
Posts: 1,800
Can someone elaborate on this "Silver Wheels" thing? I've never heard of it, is it only with State farm?

I have a 1990 E30 in Toronto, which I drive max once or twice a week.
__________________
hadesm5 is offline   Reply With Quote
Old 05-11-2011, 12:56 PM   #26
HavocSteve
6th Gear Member
 
Join Date: Apr 2010
Location: Toronto
Posts: 1,848
It's a website. Google SilverWheels. It'll have a website with the company and a phone number and all.

http://www.lant-ins.ca/index.php
__________________
HavocSteve is offline   Reply With Quote
Old 05-11-2011, 01:08 PM   #27
hockeyfan27
5th Gear Member
 
hockeyfan27's Avatar
 
Join Date: Jul 2009
Location: Durham Region
Posts: 943
Quote:
Originally Posted by 325isdan View Post
The key is to tough it out. Find one good insurance company, not a broker, and stick with them. It will pay off in the long run. Also make a relationship with your agents. Go in and see them and talk to them. I also found the more honest I am with them, ie upping my yearly driving distance, they will try and find you some kind of extra discount.

When I upped the yearly driving distance on my E36 and told them I had over 300K km on my car they gave me a discount for having a high mileage car. Who knew.
I whole-heartedly agree that a face to face interaction is important (though rare these days), as is being honest. However, I don't agree with your position on brokers (and I'm only slightly biased).

Many insurance companies in Ontario are only accessible through a broker, so you are severely limiting your options. Agents are great but only service one company, which is fine until that one company isn't the best fit for you anymore. Then you get to start at square one again, new agent, new company, new relationship building process.

Over a 1/4 of my business this month has been from past "State Farmers" as they weren't willing to "tough out" the increases on their policies. Luckily, they found a broker.

P.S. what E36 do you have? I ran a quote on my 1998 328 vert in oakville, my best price is $102/mo. @ 2 mil liability, $1000 deductibles. Your rate seems high...

Quote:
Originally Posted by hadesm5 View Post
Can someone elaborate on this "Silver Wheels" thing? I've never heard of it, is it only with State farm?

I have a 1990 E30 in Toronto, which I drive max once or twice a week.
It is a program underwritten through Avivia, offered through only 1 broker. We all [insurance brokers in Ontario] refer business to them.

Many companies offer the "classic" or "special interest" vehicle coverage. Intact does, Dominion of Canada does, as well as a few others, I'm sure. Usually it's done in conjunction with your other vehicles. Silver wheel is a stand alone policy. (prohibits commute use)

Hagerty also offers a stand alone classic/antique/special interest policy. Their hook is you don't need an appraisal, they go by an "agreed value".
__________________

1998 328ic - Sold
hockeyfan27 is online now   Reply With Quote
Old 05-11-2011, 02:01 PM   #28
325isdan
5th Gear Member
 
Join Date: Jun 2007
Location: GTA
Posts: 1,112
Yes, I do agree with you about brokers.


I have a 318. My rate for my 318 is high and I can get lower with better coverage but I believe, and I know this may or may not be true, but since I have a relationship with my agents I feel if the time comes where I need a payout I wont be getting the run around compared if I were with a broker where I would just be a number to them.
325isdan is online now   Reply With Quote
Old 05-11-2011, 02:02 PM   #29
325isdan
5th Gear Member
 
Join Date: Jun 2007
Location: GTA
Posts: 1,112
I will also say, every six months my rates go lower.
325isdan is online now   Reply With Quote
Old 05-11-2011, 03:42 PM   #30
hockeyfan27
5th Gear Member
 
hockeyfan27's Avatar
 
Join Date: Jul 2009
Location: Durham Region
Posts: 943
Quote:
Originally Posted by 325isdan View Post
Yes, I do agree with you about brokers.


I have a 318. My rate for my 318 is high and I can get lower with better coverage but I believe, and I know this may or may not be true, but since I have a relationship with my agents I feel if the time comes where I need a payout I wont be getting the run around compared if I were with a broker where I would just be a number to them.
Don't confuse direct writers and banks with brokers. I can only speak for my brokerage, but our clients aren't numbers. The relationship you establish with an agent would be the similar with a broker.

I think the 318 actually rates higher then the 328, go figure. (no one ever said insurance made sense, and if they did, they were wrong) I agree that price isn't everything. If you read through my posts about insurance issues, note that I routinely say, "find an agent or broker". I try not to be too biased solely towards brokers, but promote building a relationship with an insurance advisor. I don't think a bank or call centre can do that for a person or has their best interest in mind. I feel the same about government run insurance. So even if it was legal, I'm not driving to Quebec for a policy, even if it were close to the same coverage offered in Ontario - which it isn't.

Agents and brokers can be very similar in their approach to insurance, however there is one BIG difference:

As an agent, one company is paying your salary. What kind of pull does 1 agent have? They can't move their business to another insurer, the company owns the client, literally...it's in the agents contract. They can definitely be your advisor and advocate, but when push comes to shove, an agent has no teeth. Even if they did, you don't bite the only hand that feeds you, at least not too hard and not too often.

As a broker, your salary comes from multiple companies. If a company doesn't treat your clients well, you can direct them to one of the several other companies you represent. If you have to bite one hand, it's not the end of your insurance career as you have several other hands to catch you.
__________________

1998 328ic - Sold
hockeyfan27 is online now   Reply With Quote
Reply

Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On

Forum Jump


All times are GMT -4. The time now is 02:31 PM.


Powered by vBulletin® Version 3.8.1
Copyright ©2000 - 2015, Jelsoft Enterprises Ltd.
Maxbimmer Copyright 2001 - 2015