Insurance companies. Sheesh.
#16
Three Wheelin'
I switched from State Farm after 25 years as well. Service from my agent was ****e and rates kept going up. My 964 was insured based on appraised value and limited driving - under 5k kms a year.
Recently moved everything to Co-Operators. Rates and coverage much better than SF.
Recently moved everything to Co-Operators. Rates and coverage much better than SF.
#17
Rennlist Member
In my experience State Farm are decent outside the GTA. I lived in Guelph for a while and they were the most competitive. Moved to Toronto and the premium literally doubled.
I'm in a bit of a crappy position insurance wise... my car is >25 years old, yet as I don't have a daily (I work from home and live in the city), I can't get a classic policy for it. Only a handful of companies will insure a car that old as a "daily" and at a reasonable cost.
TD, Allstate, Coseco and Intact are the only insurers from the dozen or so I called that were there or thereabouts.
I'm in a bit of a crappy position insurance wise... my car is >25 years old, yet as I don't have a daily (I work from home and live in the city), I can't get a classic policy for it. Only a handful of companies will insure a car that old as a "daily" and at a reasonable cost.
TD, Allstate, Coseco and Intact are the only insurers from the dozen or so I called that were there or thereabouts.
#18
Rennlist Member
Call Jason at Vintage insurance at 1-800-307-7066. He will help you out and if you need or want an appraisal send me a pm (I give a special rennlist rate)
btw what car do you have
btw what car do you have
#19
Rennlist Member
I had my 92 964 with Hagerty Canada the past 3 years ~500/year. Best rate I could find for agreed value. Pervious years with others for twice the price and less coverage
Insurance in Ontario is a rip off. Shop till you drop.
Good luck
Insurance in Ontario is a rip off. Shop till you drop.
Good luck
#20
Drifting
FYI: The big scam right now is that all policies in Ontario are going up an avg of 15% - some 20% for no reason other then when good old Kathleen is happy to announce rates will fall, wait for it - 15%. So the industry have all raised their rates a minimum of 15% just in time so she can announce her 15% rate reduction -which will bring us back to last years rates before this current rate increase. Politics in action. She even waited so that everyone could get through their renewal period cycle in the Province. Wasn't that nice of her?
Meanwhile no one can explain in a scientific / factual way why Ontario's rates are so high when all the data is presented shows that it shouldn't be this high. It really was a nudge - nudge - wink - wink deal and I hate to say this but the NDP were right that she and the industry were gaming us on the rate reduction because she had a choice to announce a rate freeze during the pre election period and she didn't, (guess the insurance industry donations to the Liberal party would have dried up).
So the industry acted like they were starving children at a Mandarin Buffet and went to town on us. The biggest scam is that the Government won't control house insurance premiums and the sky is the limit on auto deductible limits.
'Ontario - Yours To Discover Lube Isn't Used.'
Meanwhile no one can explain in a scientific / factual way why Ontario's rates are so high when all the data is presented shows that it shouldn't be this high. It really was a nudge - nudge - wink - wink deal and I hate to say this but the NDP were right that she and the industry were gaming us on the rate reduction because she had a choice to announce a rate freeze during the pre election period and she didn't, (guess the insurance industry donations to the Liberal party would have dried up).
So the industry acted like they were starving children at a Mandarin Buffet and went to town on us. The biggest scam is that the Government won't control house insurance premiums and the sky is the limit on auto deductible limits.
'Ontario - Yours To Discover Lube Isn't Used.'
#21
Racer
Join Date: Apr 2011
Location: Kingston Ontario Canada
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I have Johnson Ins through a broker. She / they let me have comp and theft for winter storage on my 994S ( Gone now ) I think my age and driving record help .They also let me have " me only " as the primary driver for the 44 when my under 25 son lived with us.Saved me a bunch of $$$
#22
Race Car
This is pure speculation on my part but I'm wondering how insurance companies can absorb the cost of buying, installing and tabulating data from the new in-car monitoring sytems, and give up to 25% discounts without penalizing errant drivers. Maybe this is how? We have to pay for all this technology at some point. It certainly doesn't reduce insurance companies risk since most accidents result from failure to yield, following too close and loss of control while not speeding and not speeding itself.
#23
I suspect that as the premiums of the many pay for the losses of the few (so that game goes), those that will qualify for the discount will have to be subsidized by those that don't have the device installed.
You can forget about the 15% rate reduction. Some insurers have already filed for and received approval from the Financial Services Commission of Ontario for rate increases.
In order for an ins co to introduce the device & discount, they have to file and receive approval from the regulator. I think it's fair to expect insurers who will start offering this device / discount to have also filed for a rate increase to offset the discount.
You can forget about the 15% rate reduction. Some insurers have already filed for and received approval from the Financial Services Commission of Ontario for rate increases.
In order for an ins co to introduce the device & discount, they have to file and receive approval from the regulator. I think it's fair to expect insurers who will start offering this device / discount to have also filed for a rate increase to offset the discount.
#24
Drifting
Join Date: Sep 2006
Location: Toronto, C eh! N eh! D eh!
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A bit off topic, but I would love for the profit an insurance company in Ontario to be regulated. I know there will always find a way around any legislation, but wouldn't it be nice if the overall profit, including the profit from investments be capped such that any surplus between operating budget and insurance risk be given back towards the members in a premium holiday? That way it would benefit you to be a clean member for a long time with the same company... and everybody wins.
I dunno...
I dunno...
#25
#27
Drifting
Staying with a company sometimes has a benefit of first at-fault accident forgiveness if you have claim free and no-fault record for x numbers withy the same company.
I am with Aviva, my sister is with TD, both have these, I'm sure other companies have this too.
I am with Aviva, my sister is with TD, both have these, I'm sure other companies have this too.
#28
Nordschleife Master
Join Date: Dec 2004
Location: Guelph, Ontario, Canada
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This is pure speculation on my part but I'm wondering how insurance companies can absorb the cost of buying, installing and tabulating data from the new in-car monitoring sytems, and give up to 25% discounts without penalizing errant drivers. Maybe this is how? We have to pay for all this technology at some point. It certainly doesn't reduce insurance companies risk since most accidents result from failure to yield, following too close and loss of control while not speeding and not speeding itself.
A bit off topic, but I would love for the profit an insurance company in Ontario to be regulated. I know there will always find a way around any legislation, but wouldn't it be nice if the overall profit, including the profit from investments be capped such that any surplus between operating budget and insurance risk be given back towards the members in a premium holiday? That way it would benefit you to be a clean member for a long time with the same company... and everybody wins.
I dunno...
I dunno...
They all do this ICBC (BC's insurance) was doing this years before it came here. It's a way of saying they are giving back, but not having to give back. The percentage of people who make claims is so low that this represents almost zero to the bottom line.
#29
Race Car
A bit off topic, but I would love for the profit an insurance company in Ontario to be regulated. I know there will always find a way around any legislation, but wouldn't it be nice if the overall profit, including the profit from investments be capped such that any surplus between operating budget and insurance risk be given back towards the members in a premium holiday? That way it would benefit you to be a clean member for a long time with the same company... and everybody wins.
I dunno...
I dunno...
#30
Rennlist Member
A bit off topic, but I would love for the profit an insurance company in Ontario to be regulated. I know there will always find a way around any legislation, but wouldn't it be nice if the overall profit, including the profit from investments be capped such that any surplus between operating budget and insurance risk be given back towards the members in a premium holiday? That way it would benefit you to be a clean member for a long time with the same company... and everybody wins.
I dunno...
I dunno...