Automotive

What is going on with car insurance rates in Ontario?

  • Last Updated:
  • Jun 12th, 2018 2:12 pm
[OP]
Deal Addict
Apr 27, 2015
2888 posts
1542 upvotes
Mississauga

What is going on with car insurance rates in Ontario?

What is going on with car insurance rates in Ontario? For last years , Liberals were announcing that they reduced insurance rates., but Our insurance (Honda Civic 2009 and Toyota Sienna 2006) is suddenly increased by 15.7% (w/o any claims past year). When I called insurance (The Personal), they said that this is because:
- older cars has less safety features , thus insurance is more expensive
- they reduced multi-cars/home discount from 15% to 7.5% in order "to be in line with competitors")
- because increased number of accidents of Honda Civics, other Honda Civic owners should pay for it. Rep also added that this is because Honda Civic is very popular and many cars on the roads - more accidents. (So maybe I should buy very rare car that don't have accidents at all ).

In order to save, rep advised to cancel collision and comprehensive, that we will be paying for our car repairs if accident at out fault, and 3rd party still be covered by insurance.
Thus, we can save $520 annually. Not sure if it make sense to cancel, as we won't have coverage for total lost if "at fault". What do you think?
Is anybody knows website where I can check how much insurance would pay "total lost" for our cars?
"All animals are equal but some animals are more equal than others" George Orwell
85 replies
Deal Addict
Sep 8, 2017
4635 posts
4894 upvotes
GTA
Like you said, it's statistical. More people crash Civics, so the rates on Civics are higher. Another example of that is theft. A more stolen car will be more expensive to insure. Another example is location. More accidents happen in the GTA than in the country. If you are more likely to make an insurance claim, for any reason, you will pay more for your coverage.

Insurance companies do this to stay in business. They can only exist if more people pay in, than they pay out.

You can check VMR Canada for your vehicle's retail value.
Member
Oct 18, 2005
422 posts
171 upvotes
This is why you and most Ontarians didn't get any reduction.
stretch goal
Shop around every year when it's time for renewal.
Deal Expert
Feb 24, 2007
15094 posts
2697 upvotes
gibor365365 wrote: What is going on with car insurance rates in Ontario? For last years , Liberals were announcing that they reduced insurance rates., but Our insurance (Honda Civic 2009 and Toyota Sienna 2006) is suddenly increased by 15.7% (w/o any claims past year). When I called insurance (The Personal), they said that this is because:
- older cars has less safety features , thus insurance is more expensive
- they reduced multi-cars/home discount from 15% to 7.5% in order "to be in line with competitors")
- because increased number of accidents of Honda Civics, other Honda Civic owners should pay for it. Rep also added that this is because Honda Civic is very popular and many cars on the roads - more accidents. (So maybe I should buy very rare car that don't have accidents at all ).

In order to save, rep advised to cancel collision and comprehensive, that we will be paying for our car repairs if accident at out fault, and 3rd party still be covered by insurance.
Thus, we can save $520 annually. Not sure if it make sense to cancel, as we won't have coverage for total lost if "at fault". What do you think?
Is anybody knows website where I can check how much insurance would pay "total lost" for our cars?
How about you cancel THEM? Their explanations are pure BS.

https://www.insurancehotline.com/?gclid ... iMQAvD_BwE

https://www.kanetix.ca/?utm_source=Goog ... er_id=8841

ctc027 wrote: This is why you and most Ontarians didn't get any reduction.
stretch goal
Shop around every year when it's time for renewal.
+1
Member
Jun 1, 2017
226 posts
142 upvotes
My insurance dropped on both cars.

My 1989 rx7 went to 87 a month from 111

And our 2015 rogue went from 170ish to 160ish.

Saved a good chunk so I'm happy but RBC changed their deductible policy from 50$ a year reduction to 20% a year instead.
[OP]
Deal Addict
Apr 27, 2015
2888 posts
1542 upvotes
Mississauga
You can check VMR Canada for your vehicle's retail value.
For Total Loss value, should I check retail or wholesale value?
"All animals are equal but some animals are more equal than others" George Orwell
Deal Addict
Nov 2, 2014
1110 posts
452 upvotes
Scarborough, ON
We are going through a hard market.

It will not change until at least 2-3years from now.

Auto insurance in Ontario has been unprofitable for a few years now.
Deal Expert
Mar 25, 2005
22396 posts
3275 upvotes
gibor365365 wrote: What is going on with car insurance rates in Ontario? For last years , Liberals were announcing that they reduced insurance rates., but Our insurance (Honda Civic 2009 and Toyota Sienna 2006) is suddenly increased by 15.7% (w/o any claims past year). When I called insurance (The Personal), they said that this is because:
- older cars has less safety features , thus insurance is more expensive
- they reduced multi-cars/home discount from 15% to 7.5% in order "to be in line with competitors")
- because increased number of accidents of Honda Civics, other Honda Civic owners should pay for it. Rep also added that this is because Honda Civic is very popular and many cars on the roads - more accidents. (So maybe I should buy very rare car that don't have accidents at all ).

In order to save, rep advised to cancel collision and comprehensive, that we will be paying for our car repairs if accident at out fault, and 3rd party still be covered by insurance.
Thus, we can save $520 annually. Not sure if it make sense to cancel, as we won't have coverage for total lost if "at fault". What do you think?
Is anybody knows website where I can check how much insurance would pay "total lost" for our cars?
Your car is risky and your discounts were reduced, that is all.
Deal Expert
Jan 15, 2006
19713 posts
20201 upvotes
Richmond Hill
I can’t complain. My insurance has been going down a little bit each year.
Deal Addict
Feb 24, 2007
4184 posts
1161 upvotes
Don't cancel the collision and comprehensive. Cancel the whole thing.

No point asking the insurance company. They always have reasons that you never knew if they are ture or not. You will be surprised after you have done your research and found a great rate and then wondering why you stay with this company for so long.

In short it doesn't hurt to shop around. You have at least a month to do so.
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[OP]
Deal Addict
Apr 27, 2015
2888 posts
1542 upvotes
Mississauga
Avatar wrote: Don't cancel the collision and comprehensive. Cancel the whole thing.

No point asking the insurance company. They always have reasons that you never knew if they are ture or not. You will be surprised after you have done your research and found a great rate and then wondering why you stay with this company for so long.

In short it doesn't hurt to shop around. You have at least a month to do so.
This is a group insurance.... 4-5 years ago I was shopping around and couldn't find anything even close to quotes I got frm Personal. Maybe need start shopping again.
"All animals are equal but some animals are more equal than others" George Orwell
Deal Expert
Aug 22, 2011
38233 posts
24410 upvotes
Center of Universe
My 2000 and 2001 summer vehicles, costs the same as my newer 2016 and 2018, to insure yearly!
Member
Jun 1, 2017
226 posts
142 upvotes
TomLafinsky wrote: What you pay for your 1989 rx7 is what I pay for a 2011 Lexus GS350 Ultra Premium and I'm in Ontario. Seems to me like you are paying a lot.
Age? I'm 25/25 married kids.

I feel like I do pay alot for the rx7 since I only drive one oil change a year lol. Probably doesn't help that it's a convertible with zero safety features.

I thought it was fair ? With home insurance it was a total of 301 before a month with both cars and home insurance.
Deal Expert
Feb 24, 2007
15094 posts
2697 upvotes
vkizzle wrote: My 2000 and 2001 summer vehicles, costs the same as my newer 2016 and 2018, to insure yearly!
What do you think would be a sensible explanation if you ask the insurance company on this?? :D
Deal Expert
Aug 22, 2011
38233 posts
24410 upvotes
Center of Universe
eldiablo wrote: What do you think would be a sensible explanation if you ask the insurance company on this?? :D
Gotta pay to play!
[OP]
Deal Addict
Apr 27, 2015
2888 posts
1542 upvotes
Mississauga
I'm currently with Travelers. Give them a try.
So, I;ve good reviews about Travelers, Johnson..... Something else?
"All animals are equal but some animals are more equal than others" George Orwell
Deal Fanatic
User avatar
Mar 1, 2005
6197 posts
4057 upvotes
Toronto
RobertSmalls008 wrote: We are going through a hard market.

It will not change until at least 2-3years from now.

Auto insurance in Ontario has been unprofitable for a few years now.
Everytime someone says this another insurance agent/broker gets a BMW/Audi/Merc.

I guess if you say it enough, someone will believe it.
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[OP]
Deal Addict
Apr 27, 2015
2888 posts
1542 upvotes
Mississauga
RobertSmalls008 wrote: We are going through a hard market.

It will not change until at least 2-3years from now.

Auto insurance in Ontario has been unprofitable for a few years now.
This is strange as recently I read article that Ontario has the smallest amounts of accidents in Canada , but the highest rates
"All animals are equal but some animals are more equal than others" George Orwell
[OP]
Deal Addict
Apr 27, 2015
2888 posts
1542 upvotes
Mississauga
gibor365365 wrote: So, I;ve good reviews about Travelers, Johnson..... Something else?
Just checked RBC ... ridiculous.... 50% higher than what I got from The Personal after 16% increase
"All animals are equal but some animals are more equal than others" George Orwell
Deal Addict
Jun 9, 2006
1605 posts
95 upvotes
Toronto
ctc027 wrote: This is why you and most Ontarians didn't get any reduction.
stretch goal
Shop around every year when it's time for renewal.

+1 Mine dropped 16% this year, took only 1 day of emails lol.

Different for ever person though... I live in Toronto, Married (32/31), and 2015 SUV.

Paying $1600/year now. (I'm with All State; I know a few friends in Toronto who probably have it cheaper, prob due to their association discounts though)


(Parents pay even less, like $1100/year in Scarborough this year; I think they are with Personal for 67/63, they weren't happy since it went up for them, not sure if they found someone cheaper)
Last edited by Kaiu on Jun 5th, 2018 10:00 pm, edited 2 times in total.

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