Remember kids it’ll make you feel safer
then why did it go up all of a sudden. I will call them up and confirm on this.
A 60-70% increase is not just a regular “increase” that’s like a rapeage from a ticket or accident or some type of claim you made?? That sux though call them soon…
yeah thats the thing i have no infractions and no accidents. Really pissed about it.
RUSKII - It’s cause they can. Shop around, mine did that too, just hiked my rate for no reason, so I changed to another insurance company. I think they do that shit just to see if they can get away with it. They just keep nudging your rate up to squeeze more money out of you until you say enough and switch to another company. Think of it as like… Jenga. They keep hiking your rate on until the whole thing falls down and they lose a customer.
Exactly, if they refuse to lower the rate, then i wil just change companies.
this is a classic situation, ask anyone in your family that drives, guaranteed they’ve all been given the same bullshit line.
i have to do my renewal in a couple of weeks, and last time i talked to someone at the company they let me know that i can look forward to 2 things that can benefit me financially when renewal comes.
all this did was get my hopes up just in time to find out that in fact, my premium STILL went up by 7$ INCLUDING these 2 discounts. if these discounts werent included id probably be looking at a much higher rate.
and whats their explination? “rates are going up…everyone’s premium is rising”
BS BS BS BS BS BS, time to shop fuck that
October 20, 2009 at 9:21:58 AM
Murray
This is great news! Keep jacking the rates because what that means for me is more money in my pocket since I work for an insurance company. The truth is that we can do whatever we want to the rates and there is nothing anyone can do.
^ wow. someone find him and run him over. he should be covered for it.
WTF???
Haha, that’s obviously a post made by someone not from an insurance company, to direct public rage at insurance companies. If he works at an insurance company, and profits go up, I’m sure he won’t see jack shit. Do you really think any company actually shares it’s profits with it’s employees? They pocket that shit.
Mine just dropped from $84 to $72 a month so no complaints here. Not that I had any before since they know my car is modified and don’t care.
insurance companies have been fucking people in the ass ever since they went private but i guess government gets more tax moneys so they go along with it
you cant do shit about it. pay it thats the end
my insurance went down a fuckload. but then again im 25 and have been under my own insurance since 16.
This is exactly what happens when insurance companies try to compete on price and price alone. In addition, the fact that the public is trained to think that lowest price insurance is ALWAYS the best way to go doesn’t help the situation because everyone thinks they’re ‘getting screwed.’
Here’s the first part of it. When a claim happens, the insurance company will likely pay out the claim assuming the customer has bought the right amount of insurance. Some of these payouts go towards liability (in case you kill someone or damage a building) or accident benefits (you take days off work because you’re injured). A LOT of people milk the AB…imagine, you’re stuck in a dead-end job, you hate your job, you dread waking up and going to work. You get into an accident and you get injured. You now have to go to physio, you rec’ve reimbursement for say…$400 a week because you’re missing work. Doesn’t sound too bad? So why not milk it, right?
Accident benefits (AB) payouts in Ontario are waaay above that of any other province and AB payouts specifically in the GTA is waay above that of any other city. So insurance companies are losing money on AB payouts. But insurance companies are collecting premiums from us, how could they possibly be losing money?? Well…read on…
Second part is when companies start competing on price and this creates a problem that is two-fold. They only accept the best drivers with the best records and charge them the lowest premium.
The first part of the problem is when you have low price insurance. All is good and great until you have a claim/ticket/accident etc etc. Aforementioned low priced companies will increase your premiums very high so they get you to cancel and find a new insurance company…or they’ll choose not to renew you in the following year. So what happens? You, driver with a blemished record, is now forced to find new insurance. Now, think about it from a business perspective…why would another insurance company want to take on a client that a previous insurance company dropped? They wouldn’t…or they’d charge a huge premium to do so.
Now, if the lower priced company chooses to renew you, then it’s not too bad, but when they choose not to renew you (or you choose not to renew them) and you cannot find any reasonably priced insurance…you now think ‘damn, insurance screwed me.’ In addition, you now think that any other premium that is HIGHER than what you were previously paying is a rip-off and it’s unfair and blah blah blah. Well, that’s the trade off when you go with lowest price. You get low premium, but horrible service.
The second part of the problem relates to the first paragraph. Companies who basically lowball other companies in the industry. This forces other companies to compete on price as well. It’s all good and great because we pay lower prices right? Well, not exactly. If a company is not collecting enough premiums to balance the amount of payouts on claims, they start losing money…so what happens when they start losing money? Premiums go up.
Hopefully, this will provide some clarification. I agree that is not fair, however, we cannot completely blame the industry for this. I’m not arguing for or against for insurance companie, but I’m just tryin to give an explanation of a possiblity of how this came about from a non-biased perspective. But then again…what the hell do I know about insurance, right?
Well this sucks. I just had to renew my insurance to avoid an upcoming rumoured 22% increase for Kingsway/Jevco. Yay I get to drive. Not really, wasn’t planning on it.
https://www.insurancehotline.com anyone try using this site or others like it? seems easier than calling around to find the best rate
I understand what you’re saying Sam, and where you’re coming from, but I disagree with you on one thing. I think that even these so called “lower priced” companies, gouge us like crazy. I know that as a broker, you deal with all sorts of companies on a daily basis, but what exactly do you know about their profit margins?
The AB being higher in Ontario can easily be explained as a catch-22, companies here, charge way more than anywhere else. People here are really bitter about it, and will take any chance to screw them back for all the screwing they do to us during the year.
Also consider, a lot of the harsh feelings we have toward the insurance industry, stem from the fact that the government has demanded that we all carry insurance. We don’t have a choice in the matter.
You wanna hear how I think the industry can be fixed? It has to start with the legal system. First re-evaluate the maximum amounts of AB, and lawsuits in car accidents. If you kill someone, you should go to jail, you shouldn’t be paying 2 million dollars or something retarded like that. Every entitled mother fucker in the country has to get over themselves and realize that if they’re injured in an accident, they are NOT deserving of large sums of money. I think the government should be the one paying for the medical bills and lost wages, but that’s about fucking it. I never want to hear the word emotional hardship again. What the FUCK is that bullshit? You got scared because you were in an accident? I don’t give a fuck. Grow a pair. We pay out too much shit for shit as it is.
Insurance companies should be completely separated from people stuff, the government should handle that. The insurance companies should just pay for fixing our damn cars, and they should charge like $30/mth and STFU. And this should be optional, so that when someone orders insurance, they will be grateful that they’re even getting a customer, just like every other business on this planet, instead of the entitled pompous fucks that they are now, because they have us by the balls because of the government.
I currently pay $859.94 a month and live in Mississauga. God knows what I’d be paying in Toronto.
Fcuk this province period.
Shit man you have me beat (same car and I think I’m just 1 year older than you), I’m paying $677/month.
What’s your record like?
My fagget ass broker thinks its a stock kouki. He tried to come by for an appraisal but i told him to fuck off. He finally budged, thank god.
21
G2
Driving since 16
My record consists of 1 major offense (Failure to remain at the scene of an accident) It was a scratch on some bitch’s bumper in a private parking lot. Never gotten a speeding, red light any type of ticket in my life. My offense is apparently is a automatic 1 year license suspension which sucked balls. My record clears this october 2010, but my rates will still be $400+ a month.