Automotive

Things that can be done against high auto insurance in Toronto

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  • Jan 26th, 2013 11:42 am
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Jul 11, 2006
1394 posts
185 upvotes
Toronto
Kenneth wrote: I'm not sure why everyone whines so much about insurance in Toronto, sure it's not as directly as cheap as the provincial plans or as cheap as those living in Timmins. But compared to other major cities in North America, we pay pretty much on par with New York city and Chicago drivers.

That being said as for the OP once you meet the following:
Over 25
At least 7 years of continuous insurances
No claims/tickets

You can live in the worst part of the GTA and you shouldn't pay more than $1,500 a year for a new average car.
People whine because they are poor and insurance is expensive. Especially if you don't meet the requirements you've posted up.

Compared to government run insurance (BC) I don't find the system here to be very fair towards new drivers.

They penalize you right off the bat. They don't even give you a chance to show them that you are a safe driver.

Basically if you are under 25 and you want to drive any car that is considered fun - Toronto thinks you are a mass murderer and doesn't want you to drive. If you do you will likely street race every night and run over little kinds and old people. So charge them $$$$$ so they can't afford insurance!!

But to be honest.. I see so many old people on the street driving that really shouldn't be driving anymore. The only reason they aren't dead is because the smarter drivers spot them from afar and avoid them or give them room and space.. All it takes is two old people who don't know what they are doing and you have an accident.
kthxbye
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Oct 5, 2008
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Brampton
Phlegmbot wrote: I'm with Meloche Monnex as well. I pay $1700 per year for two drivers on a 2009 Forester in Toronto.

Shop around. Work with the agent to get a package together for you that works! Bundle as much as possible. Oh, and don't drive like my brother.
Thats really cheap, how old are you?
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Feb 11, 2007
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Whitby
import_nation wrote: But to be honest.. I see so many old people on the street driving that really shouldn't be driving anymore. The only reason they aren't dead is because the smarter drivers spot them from afar and avoid them or give them room and space.. All it takes is two old people who don't know what they are doing and you have an accident.
This. Mandatory biennial retesting in Ontario needs to be extended to people 70 and up instead of 80 and up like it is now.
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Jul 11, 2006
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Toronto
pessimism wrote: This. Mandatory biennial retesting in Ontario needs to be extended to people 70 and up instead of 80 and up like it is now.
I live in Markham so I experience confused old drivers all the time. You can't exactly get mad at them because you will one day be in their position but at the same time.. Should they really be driving? Maybe someone should be driving them around instead.

/vent old asian ladies going 40kms on left lane on steeles with no traffic.
kthxbye
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Feb 20, 2008
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quanvn wrote: Thats really cheap, how old are you?
I'm in my early 30s. My wife is in her late 20s.
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Oct 5, 2008
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Brampton
I live in Brampton, and the rates here are ridiculous!!

26 clean record 05 Lancer $240/month
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Feb 20, 2008
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quanvn wrote: I live in Brampton, and the rates here are ridiculous!!

26 clean record 05 Lancer $240/month
What did you do to get this rate? How many quotes did you get? Who are you with? What's your group discount? If you don't have a group discount, get one by mentioning your alma mater or professional association or other. Up your deductible. Is your plan too comprehensive?

Get an online quote from TD now and see what it says - I'm curious!
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Dec 2, 2002
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quanvn wrote: I live in Brampton, and the rates here are ridiculous!!

26 clean record 05 Lancer $240/month
That's expensive, how many years have you had insurance?
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Oct 5, 2008
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Brampton
Phlegmbot wrote: What did you do to get this rate? How many quotes did you get? Who are you with? What's your group discount? If you don't have a group discount, get one by mentioning your alma mater or professional association or other. Up your deductible. Is your plan too comprehensive?

Get an online quote from TD now and see what it says - I'm curious!
Kenneth wrote: That's expensive, how many years have you had insurance?
Thats Brampton for ya!!! LOL

I'm currently with RBC, have full coverage 1mil liabilty $500 deductible Collision & Comprehensive, currently living with my parents so getting the multi-vehicle discount. I have a clean record nothing on it.

Trust me I've done many online quotes and called many insurance companies State Farm, PC, Bel Air Direct, Dejardins, TD, there prices range from as low as $250/month-$350/month and when I ask why so expensive? There replies are Brampton!!!!
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Oct 5, 2008
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Brampton
Kenneth wrote: That's expensive, how many years have you had insurance?
I've had insurance since I was 18 as occasional driver, and started as primary when I was 22
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Nov 28, 2007
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Whitehorse, YT
The main way to reduce your auto premium is to purchase less coverage. I take the minimum required by law - $202 per year premium.

Of course, if you have someone else finance your vehicle then your coverage is dictated by your creditor. Living beyond one's means carries with it a price. Also, if you are someone likely to cause damage to your own vehicle then your comfort level might suggest you purchase additional insurance.
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Feb 11, 2007
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Whitby
Marzipan wrote: The main way to reduce your auto premium is to purchase less coverage. I take the minimum required by law - $172 per year premium.
In WHITEHORSE. I bet if you lived in Brampton you would be sitting at between ten and twenty times that amount.

Your advice is sound though. A lot of people take whatever their broker offers them without questioning what coverage levels are available, and overpay as a result.
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Aug 11, 2008
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Ontario
The broker should be going over the coverage options - but it is also up to the client to ask questions and also what other options are available ..
pessimism wrote: In WHITEHORSE. I bet if you lived in Brampton you would be sitting at between ten and twenty times that amount.

Your advice is sound though. A lot of people take whatever their broker offers them without questioning what coverage levels are available, and overpay as a result.
RIBO LICENCED INSURANCE BROKER, over 35 years experience
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Nov 28, 2007
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Whitehorse, YT
pessimism wrote: In WHITEHORSE. I bet if you lived in Brampton you would be sitting at between ten and twenty times that amount.

Your advice is sound though. A lot of people take whatever their broker offers them without questioning what coverage levels are available, and overpay as a result.
Can someone post the premium paid for minimum coverage in any high cost area?

Brokers are commissioned and are known as merchants of fear. Customers should ask their broker for a price for minimum coverage and then price out the extra stuff.

PS. Red flags is making me sign in over and over today.
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Feb 11, 2007
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Whitby
Marzipan wrote: Can someone post the premium paid for minimum coverage in any high cost area?

Brokers are commissioned and are known as merchants of fear. Customers should ask their broker for a price for minimum coverage and then price out the extra stuff.

PS. Red flags is making me sign in over and over today.
Someone posting a premium won't be much help to you. They vary by thousands per year from one company to the other, its insane.
Using Kanetix.ca as a guide, I get quotes ranging from around $160 PER MONTH, to over $500 PER MONTH, using the minimum options I can select in their quoting tool.

Also, minimum coverage in the Yukon is a fraction of what minimum coverage is on Ontario, see here for differences:
http://www.ibc.ca/en/Car_Insurance/YU/M ... verage.asp
http://www.ibc.ca/en/Car_Insurance/docu ... _chart.pdf

Notice the minimum liability, $200,000 vs $1,000,000. The medical benefits, $10,000 per person vs $50,000 etc etc.
I've seen scattered online references stating that minimum liability in Ontario is $200,000, problem being that "no professional will allow you to only have this much coverage". Perhaps someone from an insurance company can chime in. If this is true, insurance companies are illegally stonewalling customers. However, the above PDF states 1 million...
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Jun 12, 2007
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London
pessimism wrote: .....
I've seen scattered online references stating that minimum liability in Ontario is $200,000, problem being that "no professional will allow you to only have this much coverage". Perhaps someone from an insurance company can chime in. If this is true, insurance companies are illegally stonewalling customers. However, the above PDF states 1 million...
http://www.fsco.gov.on.ca/en/auto/broch ... aspx#seven

While you are legally required to carry a minimum of $200,000, you may want to increase this coverage. The cost to increase your Third-Party Liability coverage to $1 million or $2 million is small in most cases.

http://www.ibc.ca/en/Car_Insurance/docu ... re_Eng.pdf

Type of Coverage .............What the coverage does ..........................................Minimum or limit requirements
Liability – Bodily Injury.....Protects you if someone else is killed or injured ...........$200,000 (higher limits are recommended).

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Oct 5, 2008
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Kenneth wrote: I'm not sure why everyone whines so much about insurance in Toronto, sure it's not as directly as cheap as the provincial plans or as cheap as those living in Timmins. But compared to other major cities in North America, we pay pretty much on par with New York city and Chicago drivers.

That being said as for the OP once you meet the following:
Over 25
At least 7 years of continuous insurances
No claims/tickets

You can live in the worst part of the GTA and you shouldn't pay more than $1,500 a year for a new average car.
I have to disagree.

I am a lot older than 25, married, we both have clean records, we drive a 2008 Mazda 3 Sport and live in a nice part of town (Greektown), car is for pleasure use only and we pay more than $1500.
Marzipan wrote: The main way to reduce your auto premium is to purchase less coverage. I take the minimum required by law - $202 per year premium.

Of course, if you have someone else finance your vehicle then your coverage is dictated by your creditor. Living beyond one's means carries with it a price. Also, if you are someone likely to cause damage to your own vehicle then your comfort level might suggest you purchase additional insurance.
in Whitehorse..Are you insuring your sled dogs? .lol...you have roads?
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Nov 28, 2007
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Whitehorse, YT
I misstated the premium I pay. It is really $202 per annum for ....

Section A Third Party Liability for $1,000,000
Section B Accident benefits
Endorsement 44 Family protection.

I confirm that for years local brokers refused to sell coverage for the legal minimum. Some even refused to sell third party coverage unless you also buy optional coverage.

Local brokers all charged for Section B for every vehicle insured. The Personal charge it once (with the first vehicle). That's one reason I switched.

I also found that on-line automated quotes were unrealistically high. You have to phone in after submitting true particulars on-line.
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Jun 12, 2007
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GTA
Kenneth wrote: I'm not sure why everyone whines so much about insurance in Toronto, sure it's not as directly as cheap as the provincial plans or as cheap as those living in Timmins. But compared to other major cities in North America, we pay pretty much on par with New York city and Chicago drivers.

That being said as for the OP once you meet the following:
Over 25
At least 7 years of continuous insurances
No claims/tickets

You can live in the worst part of the GTA and you shouldn't pay more than $1,500 a year for a new average car.
That, Sir, is a complete and utter BS. Worst part of GTA and paying only $125/month (with no claims, over 25, 7 years ins)? Get out of here. Even if you get only liability and drop collision&comprehensive you will be extremely lucky to find as low as $150-$160/month in the worst parts of GTA (insurance wise).
Also, have you checked the prices for new drivers lately? We DO NOT pay on par with Chicago drivers. May be for 55 and older dudes with no accidents and 30+ years of insurance history, the rates will be pretty similar for GTA and Chicago. For everyone else, GTA is more expensive. Take a look at online insurance calculators and punch same data for GTA and Chicago and prove me wrong. I would love to compare the canadian and US quotes. I've done it, have you?
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Nov 6, 2010
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MS MSP wrote: I have to disagree.

I am a lot older than 25, married, we both have clean records, we drive a 2008 Mazda 3 Sport and live in a nice part of town (Greektown), car is for pleasure use only and we pay more than $1500.



in Whitehorse..Are you insuring your sled dogs? .lol...you have roads?
Last time I check, $25 in Saskatchewan will give you 200K liability covered by the government (SGI) thru tax money, so for $25 per year you can drive :razz: But virtually no public transit in the province lol :razz:

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