Automotive

[Merged] Ask me anything about insurance!!

Member
Jun 18, 2009
437 posts
6 upvotes
001Stunna wrote: Just one quick question...
Let's say the father in a family owns 2 cars. One that he drives and one that has been parked for awhile. If one of the sons(who doesn't live at home) insures the car that hasn't been driven under his name only and drives the car. Would it be any problem as the ownership is in the fathers name but the insurance would only be under the sons name???
We tried to insure a car that is owned by our parents because we drive it. We were unable to. The car had to stay on their policy. The policy has to be under the registered owner. We added our names as drivers to their policy.

Of course, I'm not expert. That's just our experience. This is with TD - been with them since they were Liberty Mutual, x 20 years probably.
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May 11, 2008
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creamsoda wrote: Can anyone comment on this?

Husband and I are in our mid-thirties. We have been driving since we were our late teens. No tickets / convictions at all. Accident history:

Me: 1 at fault accident, more than 6 yr ago
Husband: 1 at fault accident last summer (small, but still at fault)

We live in GTA.

I got a quote in the 1,900 range, and also in the 3,000 range and in the 7,000 range (7,000 is from our current insurer where we've been insured on parents' policy forever!). Car is a 2009 Honday Odyssey. I am the primary driver.

Based on other people's posts here, even 1900 seems steep with a fairly clean history. Any comments? How can a quote go as high as 7,000? I called one other company and they wouldn't even insure us just based on me answering their initial questions, saying we have 1 recent accident on file.

Doesn't make sense to me. We are a very conservative family. Not high risk at all. Just doesn't seem right.
Each insurance company have their rules about what risks they want to write. Some companies will not renew you if you have more than 2 tickets, for example.

Under your current insurer did you set up your own policy or are you still under your parents'?

And the insurance company doesn't know you're a conservative family...nor do they really care. All they care about is your probability of making a claim. Since your husband got into an accident recently, they don't want to insure you.
Newbie
Dec 20, 2007
47 posts
1 upvote
aminbusk wrote: I (25 Male) got my G1 in 2005, G2 in April 09... drive a Corolla 03.... no accidents no tickets... nobody else on the premium - and my insurance is $223/month (Scarborough, comprehensive, 1000 deductible, with York Alumni discount and learning school certificate). A whopping $2672 a year!

How can I reduce my premium? This is the cheapest insurance i could get - TD Meloche Monnex. State Farm was the next best - $ 233 a month.

How much would my insurance go down when i get my G?

Anything else i can do to reduce my premium?
When I got my G, full coverage with the same company went down about 10% (starting the same day). Then it went down 16% on the next renewal.
Other ways to reduce it:
- get older car and don't take comprehensive (before I had 120$/mouth with them for 94 Camry having only G2)
- get a wife
- find a way to change group in the insurance company (e.g. Prof.Engineers, CGA, etc.) -- they might have better discounts. Policy can be opened on you or your spouse (whoever gives better discount)
- add house together with a car, it can give up to 5% discount on the car
- install some security (alarm) devices for the car
- leave closer to work to reduce milage
Member
Jun 18, 2009
437 posts
6 upvotes
rems wrote: Under your current insurer did you set up your own policy or are you still under your parents'?

Thanks for the feedback. We set up our own policy. Perhaps they then view that as starting from scratch, and the previous history doesn't matter.

I should have mentioned that I am primary driver, not commuting (pleasure use only), 15,000 km total mileage per year. Although low usage didn't seem to make a difference here.
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May 11, 2008
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creamsoda wrote: Thanks for the feedback. We set up our own policy. Perhaps they then view that as starting from scratch, and the previous history doesn't matter.

I should have mentioned that I am primary driver, not commuting (pleasure use only), 15,000 km total mileage per year. Although low usage didn't seem to make a difference here.
Yea that's probably what happened if they're charging you that much...
Newbie
Jul 5, 2009
34 posts
3 upvotes
Toronto
Hi, I'm wondering if I'm covered if I borrow my mothers car? And if I'm stopped by cops, will I have any problems? I live at the same address and I'm NOT on insurance policy.
How does Ontario insurance work - Is the car insured no matter whose driving it or a person/s on insurance policy? What happens if I get in an accident (knocking wood) and I'm at fault/not at fault and I'm not on insurance policy. I'm not trying to scam anything, just want some clearance.
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May 11, 2008
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Caffeine wrote: Hi, I'm wondering if I'm covered if I borrow my mothers car? And if I'm stopped by cops, will I have any problems? I live at the same address and I'm NOT on insurance policy.
How does Ontario insurance work - Is the car insured no matter whose driving it or a person/s on insurance policy? What happens if I get in an accident (knocking wood) and I'm at fault/not at fault and I'm not on insurance policy. I'm not trying to scam anything, just want some clearance.
You wont be covered. If you're in the same household you have to be on the policy. Normally the car is insured through the owner's policy but since you have regular access to the vehicle, you must be rated on it.
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Aug 11, 2008
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aminbusk wrote: Hi,

I (25 Male) got my G1 in 2005, G2 in April 09... drive a Corolla 03.... no accidents no tickets... nobody else on the premium - and my insurance is $223/month (Scarborough, comprehensive, 1000 deductible, with York Alumni discount and learning school certificate). A whopping $2672 a year!

How can I reduce my premium? This is the cheapest insurance i could get - TD Meloche Monnex. State Farm was the next best - $ 233 a month.

How much would my insurance go down when i get my G?

How does the star rating work?

Anything else i can do to reduce my premium?
You may be able to reduce premium if you combine with a property policy.

star ratings start from when you were 1st licd and go up..ie: if you've been lic'd for 5yrs with prior insurance, no tickets/ accidents , you will likely be a 5star. Call your broker to find out how much you will reduce premium when you get G lic as impossible to know off top of my head. If you are looking for a quote, feel free to message me anytime.
RIBO LICENCED INSURANCE BROKER, over 35 years experience
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Aug 11, 2008
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Ontario
Happy13178 wrote: But would that affect my rate at all, or not really?The only insurance I've had for a while has been monthly with Zipcar.

Also, does it make a big difference to premiums if you have a separate car alarm installed, and if so does it matter which one? What about winter tires?
If I pulled a drivers abstract and the date first lic'd showed 1995, that is the date I will use in rating. If an autoplus shows no insurance prior at all, you will be rated as a new driver. Car alarms usually will get a 5% discount ONLY on the comprehensive portion of the premium. Doesn't usually matter which alarm. Some companies will offer the winter tire thing.
RIBO LICENCED INSURANCE BROKER, over 35 years experience
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creamsoda wrote: Can anyone comment on this?

Husband and I are in our mid-thirties. We have been driving since we were our late teens. No tickets / convictions at all. Accident history:

Me: 1 at fault accident, more than 6 yr ago
Husband: 1 at fault accident last summer (small, but still at fault)

We live in GTA.

I got a quote in the 1,900 range, and also in the 3,000 range and in the 7,000 range (7,000 is from our current insurer where we've been insured on parents' policy forever!). Car is a 2009 Honday Odyssey. I am the primary driver.

Based on other people's posts here, even 1900 seems steep with a fairly clean history. Any comments? How can a quote go as high as 7,000? I called one other company and they wouldn't even insure us just based on me answering their initial questions, saying we have 1 recent accident on file.

Doesn't make sense to me. We are a very conservative family. Not high risk at all. Just doesn't seem right.
Since there is only 1 car in the household, your husband will be rated as the princ operator as he has the highest rated record. In other words, the rating will be based on his record not yours and it sounds like he is just about a 1star or meaning, 1yr from the date of his accident. If you want a quote, feel free to pm me anytime.
RIBO LICENCED INSURANCE BROKER, over 35 years experience
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Aug 11, 2008
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That is correct.
creamsoda wrote: We tried to insure a car that is owned by our parents because we drive it. We were unable to. The car had to stay on their policy. The policy has to be under the registered owner. We added our names as drivers to their policy.

Of course, I'm not expert. That's just our experience. This is with TD - been with them since they were Liberty Mutual, x 20 years probably.
RIBO LICENCED INSURANCE BROKER, over 35 years experience
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Aug 11, 2008
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Ontario
Under the terms of your mothers auto policy she HAS TO advise of all lic'd operators that reside in the household - you need to call her broker to discuss this.
Caffeine wrote: Hi, I'm wondering if I'm covered if I borrow my mothers car? And if I'm stopped by cops, will I have any problems? I live at the same address and I'm NOT on insurance policy.
How does Ontario insurance work - Is the car insured no matter whose driving it or a person/s on insurance policy? What happens if I get in an accident (knocking wood) and I'm at fault/not at fault and I'm not on insurance policy. I'm not trying to scam anything, just want some clearance.
RIBO LICENCED INSURANCE BROKER, over 35 years experience
Sr. Member
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Jan 8, 2009
824 posts
72 upvotes
GTA
I am surprised that you got a quote in the range of 1900 with one recent accident. Was it with RBC?

Insurance companies look for your history in last 6-10 years and assigsed you a rating based on the most recent accident.
creamsoda wrote: Can anyone comment on this?

Husband and I are in our mid-thirties. We have been driving since we were our late teens. No tickets / convictions at all. Accident history:

Me: 1 at fault accident, more than 6 yr ago
Husband: 1 at fault accident last summer (small, but still at fault)

We live in GTA.

I got a quote in the 1,900 range, and also in the 3,000 range and in the 7,000 range (7,000 is from our current insurer where we've been insured on parents' policy forever!). Car is a 2009 Honday Odyssey. I am the primary driver.

Based on other people's posts here, even 1900 seems steep with a fairly clean history. Any comments? How can a quote go as high as 7,000? I called one other company and they wouldn't even insure us just based on me answering their initial questions, saying we have 1 recent accident on file.

Doesn't make sense to me. We are a very conservative family. Not high risk at all. Just doesn't seem right.
Insurance & Financial Advisor

All posts on this forum are for information purpose only and can't replace your policy contract. Please contact your own broker, agent or company before acting on my suggestions. There is more to insurance than just price!
Member
Aug 23, 2006
200 posts
5 upvotes
Just got my renewal notice from my car insurance provider, TD Meloche, for 2 drivers and 2 vehicles - 1998 Accord and 2009 Camry. Premium going up about $100 for the next year, from $2470 to $2570. We have discounts through professional associations and also have house insurance with them already.

We went on Kanetix and the lowest quote was still slightly higher than ours with TD. Do you think we will be able to get a lower quote through any other provider?
Sr. Member
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Jan 8, 2009
824 posts
72 upvotes
GTA
You never know and doesn't hurt to try! ;)

PM me your details and I'll get some numbers for you
Insurance & Financial Advisor

All posts on this forum are for information purpose only and can't replace your policy contract. Please contact your own broker, agent or company before acting on my suggestions. There is more to insurance than just price!
Newbie
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Jan 31, 2006
8 posts
1 upvote
My friend has a car that I will be buying from him in Oct. Currently, it has expired sticker and no insurance. But the car needs to go get an emissions test before he can transfer ownership to me. So during this time, what kind of insurance is required and available, until Oct when I own the car and can apply for f/t insurance? Thanks for your advice.
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Aug 11, 2008
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Plaintiger wrote: My friend has a car that I will be buying from him in Oct. Currently, it has expired sticker and no insurance. But the car needs to go get an emissions test before he can transfer ownership to me. So during this time, what kind of insurance is required and available, until Oct when I own the car and can apply for f/t insurance? Thanks for your advice.
The car would need to be plated and registered in order to have insurance on it. You cannot insure a vehicle that you do not own. Perhaps your buddy can call his broker to get it covered for just the trip to the shop and back, but then again, he would still need the plate renewed...call the mto and your broker for their advice.
RIBO LICENCED INSURANCE BROKER, over 35 years experience
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Aug 3, 2005
1367 posts
22 upvotes
Scarborough
I have a G license for 10yrs now.

My car is 5yrs old and my renewal is coming up soon.

Should I have no Collision/Comprehensive coverage, that would save me $600?
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Aug 11, 2008
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Thats a personal choice you will have to make. Keep in mind, collision coverage also covers for hit & runs...I would at least leave comp coverage on it and loss of use(if possible)...if you delete physical damage entirely, you won't get a rental car (providing you have loss of use), if you have an at fault accident.

Also, make sure you have accident protection endorsement on your policy.
AirBosh wrote: I have a G license for 10yrs now.

My car is 5yrs old and my renewal is coming up soon.

Should I have no Collision/Comprehensive coverage, that would save me $600?
RIBO LICENCED INSURANCE BROKER, over 35 years experience
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Jul 7, 2005
1166 posts
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Mississauga
hackex wrote: Just want to update, the accident was assessed 100% at fault and car was declared totalled. The insurance paid cost of comparable car + pst. They didn't pay gst saying that the car was purchased privately and so none was payed when it was bought............are they allowed to do this? I mean what if I were to go and buy another replacement car from a dealer and ended up paying gst afterall. Can I get this from them or is there no way around this?
bump, also would like to add another question; I was driving my bro's car in this case, the accident occured in the state of NY, does the MTO or the insurance companies have knowledge of my accident?

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