Automotive

[Merged] Ask me anything about insurance!!

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Nov 15, 2017
400 posts
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Everything (age, location, record, etc.) being equal, which car models are cheapest to insure in compact/midsize/SUV segments? How big of a difference is there between for example a Golf and a Civic?
Jr. Member
Apr 20, 2009
156 posts
34 upvotes
BBZero wrote:
Jan 3rd, 2018 2:25 pm
Everything (age, location, record, etc.) being equal, which car models are cheapest to insure in compact/midsize/SUV segments? How big of a difference is there between for example a Golf and a Civic?

Most insurance companies use what is know as a CLEAR score from IBC to determine which vehicles will be more/less expensive to insure. You can access historical CLEAR ratings at this link:

http://www.ibc.ca/nt/auto/buying-auto-i ... measure-up

The lower the score, theoretically the lower the premium.

Word of warning, IBC doesn't release current CLEAR ratings to the public and they can change dramatically from year to year. Also your driving record, location and age often has more of an impact on the premium than the CLEAR score.
Jr. Member
Apr 20, 2009
156 posts
34 upvotes
stucandu wrote:
Jan 3rd, 2018 1:36 pm
Encouraging, however if you could elaborate a bit more it would be appreciated.
Thanks
Your broker or another broker will need to find an insurer who has more relaxed rules. There are high risk companies that might take it, they are typically cheaper than facility. You can also exclude troublesome drivers as well and stay with your current insurer.
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Nov 15, 2017
400 posts
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absolut123 wrote:
Jan 3rd, 2018 2:44 pm
Most insurance companies use what is know as a CLEAR score from IBC to determine which vehicles will be more/less expensive to insure. You can access historical CLEAR ratings at this link:

http://www.ibc.ca/nt/auto/buying-auto-i ... measure-up

The lower the score, theoretically the lower the premium.

Word of warning, IBC doesn't release current CLEAR ratings to the public and they can change dramatically from year to year. Also your driving record, location and age often has more of an impact on the premium than the CLEAR score.
Thanks for the link.
Aren't drivers "penalized" for purchasing certain cars? There are more affordable cars on the road, and there would presumably be more accidents/thefts on said cars. Unless insurance companies have a way to adjust for that...
Jr. Member
Apr 20, 2009
156 posts
34 upvotes
BBZero wrote:
Jan 3rd, 2018 3:22 pm
Thanks for the link.
Aren't drivers "penalized" for purchasing certain cars? There are more affordable cars on the road, and there would presumably be more accidents/thefts on said cars. Unless insurance companies have a way to adjust for that...
An actuary will need to chime in here as it's beyond my expertise on how it's done, but yes adjustments are made to deal with what you're describing.
Deal Fanatic
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Aug 11, 2008
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Ontario
There are other high risk companies available if you qualify for other than facility.. :)
stucandu wrote:
Jan 3rd, 2018 1:36 pm
Encouraging, however if you could elaborate a bit more it would be appreciated.
Thanks
RIBO LICENCED INSURANCE BROKER, over 30 years experience
Jr. Member
Jan 8, 2007
180 posts
27 upvotes
Toronto
COSMIC5 wrote:
Jan 4th, 2018 9:24 am
There are other high risk companies available if you qualify for other than facility.. :)
Good answer, I feel so much more enlightened now. :rolleyes:
Deal Guru
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Mar 1, 2008
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Toronto, Ontario
BBZero wrote:
Jan 3rd, 2018 2:25 pm
Everything (age, location, record, etc.) being equal, which car models are cheapest to insure in compact/midsize/SUV segments? How big of a difference is there between for example a Golf and a Civic?
This is really difficult to answer because one insurance company may favour one car over the other. Plus one vehicle may be cheaper to insure this year, but next year it will be more expensive due to loss claims for example. At the end of the day, I always tell my clients to purchase the car they want to drive.
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Aug 11, 2008
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in some cases vehicles such as the fords, dodge, chev, gmc etc could be slighly lower in premiums over the honda, acura's, Vw .. best thing to do is choose a few vehicles you are looking at and call your Broker,get a quote and decide from there. No sense in purchasing a vehicle that is going to have a premium that is unaffordable. In the end, rates are determined on driving history, insurance history, territory, age etc.. where one vehicle is "cheap" to insure for one person, doesn't mean it will be for another.
BBZero wrote:
Jan 3rd, 2018 2:25 pm
Everything (age, location, record, etc.) being equal, which car models are cheapest to insure in compact/midsize/SUV segments? How big of a difference is there between for example a Golf and a Civic?
RIBO LICENCED INSURANCE BROKER, over 30 years experience
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Aug 20, 2006
664 posts
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TORONTO
My insurance is up for renewal in Feb. It is from chieftain where it was month to month n they debit your credit card monthly. I found them through kanetix I think when looking for cheap rates. Wondering if there are newer similar sites or better reviewed around as they all seem to do the same thing like kanetix. I got a letter in the summer saying my premium went down by $2/m and then in the December went back up by $2/m.Confused Face Thought this was a joke at first.
Jr. Member
Apr 20, 2009
156 posts
34 upvotes
crosswire wrote:
Jan 6th, 2018 12:28 am
My insurance is up for renewal in Feb. It is from chieftain where it was month to month n they debit your credit card monthly. I found them through kanetix I think when looking for cheap rates. Wondering if there are newer similar sites or better reviewed around as they all seem to do the same thing like kanetix. I got a letter in the summer saying my premium went down by $2/m and then in the December went back up by $2/m.Confused Face Thought this was a joke at first.
They all seem the same because all comparison sites are shopping more or less the same companies. With the same information provided the prices should be coming back the same as the prices are provided by the insurance company and not the comparison website like Kanetix. Chieftain policy terms are monthly so you technically get renewed every month hence why the premium can change from one month to the next.
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Aug 11, 2008
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Chieftain is a good company; however, they do renew month to month meaning that if there is a rate increase, you will see this reflected in your monthly premium. As I recall, (as I used to use them all the time) you need to carry min $2mil liability and at least $1000 coll & comp ded's...You can always ask your Broker who you have used to go through Chieftain if they can do some rate comparisons with other companies they have in their office. Or call some other local Brokers and go from there...
crosswire wrote:
Jan 6th, 2018 12:28 am
My insurance is up for renewal in Feb. It is from chieftain where it was month to month n they debit your credit card monthly. I found them through kanetix I think when looking for cheap rates. Wondering if there are newer similar sites or better reviewed around as they all seem to do the same thing like kanetix. I got a letter in the summer saying my premium went down by $2/m and then in the December went back up by $2/m.Confused Face Thought this was a joke at first.
RIBO LICENCED INSURANCE BROKER, over 30 years experience
Sr. Member
Jul 13, 2007
677 posts
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Toronto
Ontario fellow was rear-ended on a highway in Ohio, USA by insured vehicle with Ohio plates.
Car wasn't totalled and is now back in Ontario.
Other driver will almost certainly be found at fault.
Car was an Acura EL, a model which doesn't even exist in the USA.
What happens for insurance adjusting? Will "Hartford Ins" send an adjuster in Canada to inspect the car and coordinate repair? Write a cheque?
Based on US cost to repair, or Canadian cost to repair?
Are you sure you wish to carry out this operation? You betcha.
Jr. Member
Apr 20, 2009
156 posts
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HammerRFDer wrote:
Jan 7th, 2018 1:18 pm
Ontario fellow was rear-ended on a highway in Ohio, USA by insured vehicle with Ohio plates.
Car wasn't totalled and is now back in Ontario.
Other driver will almost certainly be found at fault.
Car was an Acura EL, a model which doesn't even exist in the USA.
What happens for insurance adjusting? Will "Hartford Ins" send an adjuster in Canada to inspect the car and coordinate repair? Write a cheque?
Based on US cost to repair, or Canadian cost to repair?
If your friend has Collision coverage, they can claim through their own insurance company and have it handled through their own insurer.

If they choose to go through the other party's insurer, they will typically hire an adjusting firm here in Canada to handle it on their behalf and should be in Canadian costs as they will be dealing with a bodyshop up here.
Member
Nov 29, 2015
237 posts
39 upvotes
Toronto, ON
Hi all, just wanted to get any advice on current auto insurance.
Currently paying 260 per month on two cars with three drivers. Insurance is with co-op. Is this too high or can I find something cheaper? If cheaper, where can I find this online?

Thanks,

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