PDA

View Full Version : November Insurance Increases


Alterac
10-21-2008, 06:48 PM
Anyone else get hit with a $40 / month insurence increase starting Nov 1?

Isnt it supposed to be 5% / year, not month?

http://alberta.ca/acn/200807/24099798EB87D-C312-57CB-2C2A687303578C66.html
Canmorite
10-21-2008, 08:09 PM
"On average, Alberta drivers could pay an additional $30 per year for their mandatory insurance coverage."

:dunno:
Xtrema
10-21-2008, 08:14 PM
What are you paying per month right now and what's the new rate?

I wonder if the 5% only apply to PLPD and not the extras? I think we have a record vehicle theft year and depending on where you live, it may impact your rate.
Alterac
10-21-2008, 08:25 PM
This is my GF's rates that went up huge for some reason, $97 / month full coverage, $2mil upto ~$130 / month.

RBC Insurence company.
Xtrema
10-21-2008, 08:28 PM
Use their on-line tool and see if the number matches.

If not, better call an agent.
Supa Dexta
10-21-2008, 08:30 PM
Pay for the yr ftmfw!
Alterac
10-21-2008, 08:31 PM
The online tool is busted :(

I have her shopping around right now, cuase thats rediculous amount for an increase.
Bimmer88
10-21-2008, 09:41 PM
Yup.. Mine went up.
blownz
10-22-2008, 10:24 AM
My monthly payment is increasing next month to $180.99 from $176.70.

Chances are there is more to your increase than just the 5% increase in plpd. I would personally first look over the renewal to see exactly where the increase is and then call and ask why. They will be able to tell you.
Masked Bandit
10-22-2008, 10:57 AM
It's almost impossible to compare rates between people on a board like this. There are far too many variables involved. Your insurance broker (or company in the OP's case) should be able to spell out exactly the triggers for the increase. There are quite a few possible reasons but without knowing the file it's impossible to tell. There will be more to it than just the small base price increase.
cmodem
10-22-2008, 11:08 AM
are you guys only seeing increases at renewal time?

i'm only a couple months in to my policy so just wondering if they jack it up midway through as well.
blownz
10-22-2008, 11:13 AM
^ they won't do that
Lonely_Driver
10-22-2008, 11:50 AM
My insurance premium actually went down quite a bit. I went from $2700/year to $2400/year. I wonder if this increase will affect my premiums as I'm up for renewal at the end of this month.
Zewind
10-23-2008, 11:41 PM
As the increase is due to the removal of the soft tissue cap of $4000.

The Allowed increase by the Gov't is a maxium of 5% on Grid rate of the PLPD coverage.

This is for any NEW or RENEWING Business After Nov 1st. If you have already started an insurance policy it SHOULD not go up untill it renews, this also mean for monthly payments.


Did that help?


<--- Sell Insurance
Alterac
10-24-2008, 08:53 AM
Yea,

It went up on the renewal.. but up alot.

They also changed the years of driving for a good rating upto 15 years did they not? Could that be whats affecting the price quite a bit?
Masked Bandit
10-24-2008, 09:08 AM
Originally posted by Alterac
Yea,

It went up on the renewal.. but up alot.

They also changed the years of driving for a good rating upto 15 years did they not? Could that be whats affecting the price quite a bit?

I'm going to guess that you are insured with ING. Is that right?

-edit

I just read that you're with RBC. I had suspected ING because back in April they changed how they underwrite policies and some people have had wild swings in their prices without any signifcant changes to their actual driving history. Perhaps RBC did the same thing?
Zewind
10-24-2008, 11:42 AM
Originally posted by Alterac
Yea,

It went up on the renewal.. but up alot.

They also changed the years of driving for a good rating upto 15 years did they not? Could that be whats affecting the price quite a bit?


I cannot speak for every auto company on how they rate you. the "15" is usually the grid rating, (What the gov't put into effect)

Grid Rating Page 1 (http://www.kanetix.ca/ic_auto_info_auto_articles_40)

Grid Page Formula (http://www.kanetix.ca/ic_auto_info_auto_articles_41)



Tho I could look at your policy and figure it out for you.

Other areas that could change your is Type of Veh, it usually goes down, but it can go up. And ticket surcharges will make it go up.

If This still doesnt answer why your insurance has gone up, PM a link to a pic of the policy and Ill take a better look at it