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Old 03-10-2006, 07:49 PM   #1
fletch
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Ontario's insurance is insane!!



I'm a Manitoba resident but i'm here in Toronto for school so i still stick with my Manitoba Public insurance( we only have one insurance company which runs by provincial government)

I just registered my 94 320i today by faxing ownership, safety paper back and they gonna send my license plate to me and it's just $1323 per/year at my ago 20

i mean how come ontario's insurance is like $5000+ per year? it's can be understood because Toronto has more traffic but the amount of insurance can let you lease a new car, also compare how much these insurance company make a year to how much they pay back..this aren't insurance this is scam

and they EVEN increase your insurance rate even NOT your fault? and no one EVER complain about and still paying it!?! WHAT are Ontario people thinking
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Old 03-10-2006, 09:00 PM   #2
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^^ love it or leave it ... Michigan is like 1200/year for my Z3
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Old 03-10-2006, 10:25 PM   #3
M3Ab
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That's because insurance companies run the government, they just won't say it publicly.
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Old 03-10-2006, 11:35 PM   #4
BMWags
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Quote:
Originally Posted by fletch
I'm a Manitoba resident but i'm here in Toronto for school so i still stick with my Manitoba Public insurance( we only have one insurance company which runs by provincial government)

I just registered my 94 320i today by faxing ownership, safety paper back and they gonna send my license plate to me and it's just $1323 per/year at my ago 20

i mean how come ontario's insurance is like $5000+ per year? it's can be understood because Toronto has more traffic but the amount of insurance can let you lease a new car, also compare how much these insurance company make a year to how much they pay back..this aren't insurance this is scam

and they EVEN increase your insurance rate even NOT your fault? and no one EVER complain about and still paying it!?! WHAT are Ontario people thinking



welcome to my world buddy!!!! i was payin 5k a year for my 92 325i
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Old 03-11-2006, 12:22 AM   #5
BmW1718
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4500 for my 325e
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Old 03-11-2006, 12:46 AM   #6
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6000 for my 97 m3 ...with no collision ..lol..shit
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Old 03-11-2006, 12:54 AM   #7
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its not the insurance companies' fault that the rates are so high, they do not decide on these things. blame it on the lawyers fees/ court fees etc. insurance companies do make money, but they dont make most of the money of the premiums. there are more accidents in toronto, and thus more lawyer fees, court fees , administration fees and processing fees = OVER HEAD costs.

insurance arent scams, they are there to help. it's called the law of large numbers. let say the percentage of you having an accident is 2%. that means 2/100 is going to have an accident. so they must have each person of the 100 people to pay the premium to cover the cost of the 2 accidents. if only 50% of the 100 people pay for the premiums, then the law of large numbers won't work. you can say you're a great driver so why do you have to pay so much? it's becasue YOU NEVER KNOW WHAT IS GOIGN TO HAPPEN!

Last edited by shimajer; 03-11-2006 at 12:56 AM.
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Old 03-11-2006, 02:05 AM   #8
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I see what your saying, but it still seems a bit steep. There been some examples on here of people paying more in insurance per year than what their car is worth.
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Old 03-11-2006, 02:08 AM   #9
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Quote:
Originally Posted by BMetal
I see what your saying, but it still seems a bit steep. There been some examples on here of people paying more in insurance per year than what their car is worth.
Blame it on the lawyers haha. Let's say a person gets hit by a car, the person is okay but the driver gives him his phone number just in case if anything happens to the person. The person has a friend who is a lawyer, the lawyer of course will suggest him to sue the driver to get money (claim). The lawyers make a lot of money while the insurance companies losing out, so premiums go up!! but that is just one example.
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Old 03-11-2006, 02:22 AM   #10
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I pay about $1600 a year for my 325E
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Old 03-11-2006, 07:46 AM   #11
paul christians
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I just my insurance update last week new price now 3100 a year on 3 cars 87 BMW 325is,94 protege and 03 G.A..........hehehehe....oh yes I am 39 years old too.....was paying like 2800 a year......
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Old 03-11-2006, 10:21 AM   #12
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because our provincial government has no balls to stand up to the insurance companies. The idoit premier does jack and that's why we are paying $$ for insurance.
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Old 03-11-2006, 10:25 AM   #13
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I was quoted $1450 until they found out about my 2 speeding tickets then it went to $2100(318i/96)
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Old 03-11-2006, 08:02 PM   #14
Robb
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People in Ontario make more money than other provinces, except B.C.
Thats why we pay more , I guess.
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Old 03-11-2006, 08:45 PM   #15
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2300 a year on my "mom's" 98 328i, with 2 occasional drivers

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