Automotive

car insurance premium increased !?!

  • Last Updated:
  • Dec 24th, 2016 12:49 am
Newbie
Jan 30, 2006
74 posts
Toronto

car insurance premium increased !?!

hey all.

I recently received my car insurance renewal and the premium increased 10%.
I haven't had any at fault accidents or demerit points, etc.

have others seen a big increase in rates recently?

TTIA
17 replies
Deal Expert
User avatar
May 10, 2005
36997 posts
11419 upvotes
Ottawa
Depends on where you live and what you are driving. Rate changes have taken place and maybe you are just catching up.
“Those people who think they know everything are a great annoyance to those of us who do.”
Deal Expert
User avatar
Dec 19, 2001
31347 posts
2025 upvotes
Fernando Poo
Doesn't even say what province he's in. Makes a huge difference. But for me in Ontario, yeah, I saw an increase and I've never had an accident or a ticket in forty years. Paying for other people's bad driving.
Welcome to the Minitrue FDs, Ficdep
Deal Expert
Aug 22, 2011
41788 posts
30051 upvotes
Center of Universe
While it wasn't huge, I also received an increase this year.
I'll be damn sure to shop for quotes early before the end of this policy year and switch out.
Member
User avatar
Apr 17, 2015
494 posts
212 upvotes
Toronto, ON
Not a car, but I got a 85% increase in rate for Motorcycle Insurance ( No accidents/tickets/claims)..... That was fun
Deal Addict
User avatar
Mar 4, 2011
1247 posts
770 upvotes
Kitchener. Ontario
Lol and they changed the way insurance is structured for "cheaper rates"
Deal Expert
Aug 22, 2011
41788 posts
30051 upvotes
Center of Universe
nayan97 wrote: Lol and they changed the way insurance is structured for "cheaper rates"
That's just smoke and mirrors.
They reduced standard accidental benefits, thus lowering premiums and then charge you more to get it back.
Sr. Member
Nov 23, 2012
602 posts
300 upvotes
Toronto
Mine increased 50% and my record is clean, no change of address, vehicle, driver...

Have to shop around and change insurer.
Deal Addict
User avatar
Mar 4, 2011
1247 posts
770 upvotes
Kitchener. Ontario
vkizzle wrote:
nayan97 wrote: Lol and they changed the way insurance is structured for "cheaper rates"
That's just smoke and mirrors.
They reduced standard accidental benefits, thus lowering premiums and then charge you more to get it back.
They reduced my standard accidental benefits and my insurance still went up... How about they bring public insurance to ontario and see how that affects our rates.
Deal Expert
Aug 22, 2011
41788 posts
30051 upvotes
Center of Universe
nayan97 wrote:
vkizzle wrote:
nayan97 wrote: Lol and they changed the way insurance is structured for "cheaper rates"
That's just smoke and mirrors.
They reduced standard accidental benefits, thus lowering premiums and then charge you more to get it back.
They reduced my standard accidental benefits and my insurance still went up... How about they bring public insurance to ontario and see how that affects our rates.
I'm in the same boat...
Member
May 10, 2012
260 posts
30 upvotes
Markham
If you're in the GTA, just check out the dash cam thread and you'll see why. People suck at driving. Having said that, it's the people who suck at driving and are causing the accidents who should bear the full brunt of the insurance increases but sadly it doesn't seem to work that way.
Newbie
Jan 30, 2006
74 posts
Toronto
i'm in Toronto and have a hatchback wagon/crossover.

my record is clean, no change of address, vehicle, driver, etc ...
premiums have increased 40% in the past 5 years and that's with discounts from winter tires & home insurance ... I'd hate to see what it'd be otherwise ! Face Screaming In Fear
Deal Guru
Aug 14, 2007
12807 posts
3837 upvotes
--
cdr108 wrote: hey all.

I recently received my car insurance renewal and the premium increased 10%.
I haven't had any at fault accidents or demerit points, etc.

have others seen a big increase in rates recently?

TTIA
I saw an increase from 1700/year to 2300/year for no fault of my own. It's something we have to suck up if we want to drive (in the end I finally found a company that charged me for 1700/year)
Deal Addict
Nov 17, 2004
3236 posts
1612 upvotes
sounds about right.

As everybody always says- shop around every year if you can.

I was waiting with bated breath this year to see what my renewal was . Luckily it was only around 5% or so even though I keep adding tickets, which means they haven't been checking.
Member
Nov 22, 2008
285 posts
43 upvotes
Also got my renewal notice this week - even though my policy doesn't expire until October 31. Went up $100 (or 17.5%) without any new claims. I also didn't opt-in to any of the "new" added benefits. I'm with TD if anyone else is seeing a pattern.
Deal Expert
Aug 2, 2001
18944 posts
10526 upvotes
While it never hurts to shop around, keep in mind that insurance can rise even though you yourself have done nothing wrong. If it costs more to insure people with the same rating as you - your rates go up. This could be due to things like medical costs increasing for claims, severe weather, etc.

As I said, call around but don't think it's a giant conspiracy if you find out all companies are increasing their rates.
Deal Addict
User avatar
Aug 9, 2010
1341 posts
854 upvotes
Waterloo
With Belair Direct; went from $1380/month to $1480/month with two tickets and a not at fault insurance claim. Weird to see people are getting increases even with good history... I was thinking about shopping around but maybe Belair just hasn't checked my history? Who knows.

Top

Thread Information

There is currently 1 user viewing this thread. (0 members and 1 guest)