Automotive

Car Insurance - How much do you pay???

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  • Mar 14th, 2024 1:38 pm
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Member
Jun 4, 2016
255 posts
76 upvotes
You guys are getting scammed. I've been driving without insurance for 4 years and just now got a ticket. I would have paid more then 5K by now!
Deal Addict
Nov 6, 2013
2624 posts
2120 upvotes
Toronto
molombian wrote: You guys are getting scammed. I've been driving without insurance for 4 years and just now got a ticket. I would have paid more then 5K by now!
Great! Keep it up buddy!!

Kindly update us if you ever get into an accident.
Sr. Member
May 31, 2017
714 posts
1005 upvotes
jrule107 wrote: I'm currently insured with Belair Direct with a leased 2020 Q3 Progressive model. Currently paying about $2100 for two drivers, clean driving history. I have about 22 years of driving history and my gf has 9 years, both with G license.

Below is our current coverage:

Liability $1,000,000
Direct Compensation Property Damage $0 Deductible
Collision or Upset $1,000 Deductible
Comprehensive $1,000 Deductible
Accident Benefits Included
Removing depreciation deduction (owned or leased)
Accident forgiveness
Autocomfort coverage

Our first year with Belair is up in December and are looking at renewal options. Tried a few websites to compare rates, and CAA came back with the lowest rate of about $1600 to $1700. Quotations from other insurers came close or a lot higher than what we currently pay with Belair Direct.

Would anyone here have any comments or feedback with auto insurance through CAA? Thanks!
I was with Belair and recently switched to CAA...saved me just over $1000/year on auto insurance (AND with lower deductibles). I pay under $100/mo on each vehicle (a 2019 SUV and a 2020 sport sedan)...Belair was $145/mo on each vehcile. Belair was doing a great job getting new customers with attractive rates for a while about 7-8 years back...but every time we got a new vehicle the rates jumped dramatically (and we never had older vehicles to begin with). I also had issues with Belair on the quote they'd provide a week prior to us purchasing a vehicle only to have them raise the quoted price when I'd call to confirm the purchase and get their paperwork for the dealer. THAT really ticked me off and they did it to me on 3 vehicles purchases over a 3 month period (after the first time I had quote numbers, contact names - didn't matter). The last time, I was only a month away from renewal and just didn't want to argue again. So, as soon as renewal came up I dropped them...CAA actually offered us rates that were LOWER then BelAir was 8 years ago (and at that time BelAir had saved us $1200/yr, and were the lowest quote, when we had switched to them). Throw in CAA's improved coverage, got the membership benefits, etc...was a no brainer.

We'll see, but I expect CAA will start slowly tacking on a little higher then normal increases in the coming years before it becomes noticeably out of whack and I have to move to a new provider. I think that's just the insurance industry MO...not terribly different then the telecom model IMHO.

They'll all eventually find some excuse in the "data" like cars of your model, year, colour and tire size, driven by 54 year olds with beards, who wear plaid pj's, own an LG tv, stream Disney, have children aged 26 and 23, own a dog and cat (but no fish) and have a clean driving history tend to have more break ins and it's driving up the cost...if you only owned a fish you'd be $400 less a year. Any data they can use to game the numbers to justify increasing rates. I particularly love the "we can't offer you a better rate because then EVERYONE who drives your car in the area has to get the same rate".
Deal Expert
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Jan 12, 2017
23019 posts
6892 upvotes
Scarberia
my mom is paying 500$ a month for two cars...2012 honda civic sedan, and old honda accord 2005 i think, ripped off? shes a senior citizen

i dont think i can sell the civic for 3k lol
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Newbie
Sep 7, 2019
60 posts
67 upvotes
Thanks for the info.

May I ask how long you have been insured with CAA?
Deal Expert
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Apr 21, 2004
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mikka2017 wrote: my mom is paying 500$ a month for two cars...2012 honda civic sedan, and old honda accord 2005 i think, ripped off? shes a senior citizen

i dont think i can sell the civic for 3k lol
I think you meant the Accord lol.

If not, I can buy the Civic off your mom.
Newbie
Dec 20, 2016
10 posts
7 upvotes
My annual premium just increased by 600. With TD - 37M, G- Toronto. - Clean record, no claims I have the following
1. Liabiliy - 1M
2. Accidental benefits
3. Uninsured motorist
4. DC-PD - Ded: $1000
5. All Perils (specified perils, collision and comprehensive) - Ded: $1000
6. GTS (Grand Touring Solution)
While everything else dropped, they just increased the All Perils by $600. Does that make sense? Time to shop around?
Deal Fanatic
Aug 31, 2017
5182 posts
3058 upvotes
@karurve Most companies normally do collision and comprehensive instead of all perils, because all perils provides additional benefits (I.E.... if your vehicle is stolen by an employee, someone making repairs or by someone who lives in your home, your insurer will cover the loss or damage caused). You could try seeing if going for collision and comprehensive separately will reduce this rate, but then you lose the aforementioned coverage that all perils provides. Also, if you're a graduate or work for certain employers you may get group discounts with TD or The Personal Insurance (which is a part of Desjardins). I assume you're also single? That may also affect the rate, and of course where you live. Regardless, shop around.
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Aug 11, 2008
9505 posts
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Ontario
why do you have such a high deductible on DC/PD, its usually 0
karurve wrote: My annual premium just increased by 600. With TD - 37M, G- Toronto. - Clean record, no claims I have the following
1. Liabiliy - 1M
2. Accidental benefits
3. Uninsured motorist
4. DC-PD - Ded: $1000
5. All Perils (specified perils, collision and comprehensive) - Ded: $1000
6. GTS (Grand Touring Solution)
While everything else dropped, they just increased the All Perils by $600. Does that make sense? Time to shop around?
RIBO LICENCED INSURANCE BROKER, over 35 years experience
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Aug 11, 2008
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Ontario
most companies do both... either coll & comp or All Perils
MyNameWasTaken wrote: @karurve Most companies normally do collision and comprehensive instead of all perils, because all perils provides additional benefits (I.E.... if your vehicle is stolen by an employee, someone making repairs or by someone who lives in your home, your insurer will cover the loss or damage caused). You could try seeing if going for collision and comprehensive separately will reduce this rate, but then you lose the aforementioned coverage that all perils provides. Also, if you're a graduate or work for certain employers you may get group discounts with TD or The Personal Insurance (which is a part of Desjardins). I assume you're also single? That may also affect the rate, and of course where you live. Regardless, shop around.
RIBO LICENCED INSURANCE BROKER, over 35 years experience
Deal Fanatic
Aug 31, 2017
5182 posts
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I missed the DCPD deductible at $1,000, it can’t be saving you that much in the long term. @karurve are you driving for Uber/Lyft etc or business? There has to be more there that’s missing. I understand rates are increasing but $600 in Toronto seems a bit much...
Sr. Member
Jul 11, 2017
581 posts
599 upvotes
karurve wrote: My annual premium just increased by 600. With TD - 37M, G- Toronto. - Clean record, no claims I have the following
1. Liabiliy - 1M
2. Accidental benefits
3. Uninsured motorist
4. DC-PD - Ded: $1000
5. All Perils (specified perils, collision and comprehensive) - Ded: $1000
6. GTS (Grand Touring Solution)
While everything else dropped, they just increased the All Perils by $600. Does that make sense? Time to shop around?
I would for sure say shop around! I Know where I live is just generally cheaper (St.Catharines/Thorold), but I pay $1,040/yr for almost full coverage, Lower deductibles ($0 DCPD & $300 Comprehensive, No Collision), clean record on a 2012 Mazda 3 and I'm 23 YEARS OLD!
Newbie
Dec 20, 2016
10 posts
7 upvotes
@MyNameWasTaken So this is what TD is giving me.

Specified Perils
Comprehensive
Collision or Upset
All Perils.

Will call and and dig into whether I do need all 4. All perils - sounds a bit of an overkill for me (stolen by a family member or an employee of the dealership - I think I will pass on that). Will look closer at the specified perils too. I think I want to stick with Comprehensive and Collision
Deal Fanatic
Aug 31, 2017
5182 posts
3058 upvotes
@karurve that may be one possible factor. What type of car do you drive?

I think you might be better with Belair insurance in that case. From what I gather, Belair has the least stringent underwriting guidelines for newly licensed drivers. If you do a quote with them online you get an online discount. You also get up to 15% right off the bat if you sign up to their Auto merit program. Then in another 6 months they evaluate your driving based on the app, and may apply another discount if you practiced save driving habits during that time. Your rate cannot be negatively affected by these programs. TD has something similar too.
Sonnet Insurancehas a breakdown of these coverages:
https://www.sonnet.ca/blog/What-is-peri ... -it-matter
I suggest getting comprehensive and collision coverage too. You wouldn’t need all four because that is where “All Perils” come into play. Specified perils is more limited in what it covers hence why people opt for comprehensive and then collision. The savings you get for having say just collision only and no comprehensive isn’t all that much. I would not recommend specified perils nor would I recommend having a DCPD deductible (saving is quite low and normally used for more fleet accounts and taxi drivers to reduce their premium). Do the math and find out how much your car is worth, and how much you can afford to pay if it was totalled or badly damaged.

Lastly if you have homeowner or tenant insurance look at bundling them together to see if you’re truly or saving or better getting a separate policy (Square One for home has good rates). If you’re in a common law relationship, make sure to put that down and not single. If you’re not driving your car much make sure to put down the accurate amount of kilometres. If you have winter tires, put it down too.
Deal Guru
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Mar 31, 2008
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Toronto
3000 a year for 2 late 2000s RAV4s in Scarborough.
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Aug 11, 2008
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I thought as much, but you do realize that you'll have to pay this ded in the event you have a not at fault accident right?
karurve wrote: @COSMIC5 I chose a higher dedutible to bring down my premium.
RIBO LICENCED INSURANCE BROKER, over 35 years experience
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Aug 11, 2008
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the rating is from the G2 date, plus when you go from G2 to G, you only get the graduated driver discount for 1 year, perhaps this discount being removed had some affect on the rate increase? What did your broker advise?
karurve wrote: @MyNameWasTaken Nope. Just personal use. The only thing I can think of is that I have been G licensed only for 18 months.
RIBO LICENCED INSURANCE BROKER, over 35 years experience
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Dec 11, 2003
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JaiKor wrote: Great! Keep it up buddy!!

Kindly update us if you ever get into an accident.
His ticket was for 5K. I guess there is no savings anymore. Man, can you imagine what would happen if this guy hit a person, cyclist, or injured somebody in an accident?

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