How much did your insurance increase this year?

[Mixalot27]

For those who have recently renewed their policies, I'm interested to know how much (if any) your auto insurance has increased this year. I'm mainly interested in those who have no claims, tickets, etc. I got my insurance renewal in the mail today and it has increased $240/yr from $1380 to $1622. I called RBC insurance and they said the increase is Canada Wide and effects all insurance companies. So I'm curious to see if others rates have increased by a similar percentage.

[Tomaz]

I wish I could find out too, but I put a claim on my insurance a month before renewal. :( :facepalm:

But I do know there was an increase. I just cant tell you by how much.

[Tik-Tok]

When I renewed last May, my rates didn't drop, or raise, and when I started new insurance on my newly aquired Subaru (In October), it's PLPD rate is the same as the rest of my cars. When did this "nation wide" rate increase supposedly happen?

[whiskas]

MY GIRLFRIEND had her's drop $600 this year

Damn females.

[Skyline_Addict]

Mine seems to keep dropping *knock on wood*

[Mixalot27]

Originally posted by Tik-Tok
When did this "nation wide" rate increase supposedly happen?

I'm not sure when it happened (if its even true) as I didn't think to ask that. I was talking to some guy in a call center in India who wasn't very easy to understand.

I have until Feb 12 to cancel without penalty, so I guess its time to shop around. I did a few online quotes so far and most were higher than I am already paying. However I did find one for $1413 from KTX Insurance Solutions. And also one from AMA for $1530. Strangely enough PC Insurance (who was one of the cheapest when I checked last year) wants $1730.

[guessboi]

Every company and every one is different but I can tell you A LOT of companies are increasing (or already have increased) their rates this year.

[88jbody]

I won't know until march when I renew. But acording to my agent it should go down becasue I will have 2 tickets go off my 3 year abstract for renewal.

[G-ZUS]

Just renewed in November with TD, m rates went down

[Mixalot27]

I just got a quote for $1289/yr from Canadian Direct Insurance. And I might be able to get a further discount if I switch my home insurance to them as well. So I guess I will tell RBC to go pound sand.

[dj_rice]

Mine was $2200 and once I hit 25, went down to $1200 :thumbsup: :thumbsup:

[inline6turbo]

Mine went up $360. But now that the car's being written off, I guess it's going down to nil lol.... so sad

[RX_EVOLV]

Originally posted by dj_rice
Mine was $2200 and once I hit 25, went down to $1200 :thumbsup: :thumbsup:

:eek: I turned 25 last May and my insurance only went down $50 from $1700 to $1650 for the RX8!! I was sooo disappointed. BTW no claims.

i recently picked up a used I35 and it cost $2800 to insure both :cry:

[dj_rice]

Originally posted by RX_EVOLV


:eek: I turned 25 last May and my insurance only went down $50 from $1700 to $1650 for the RX8!! I was sooo disappointed. BTW no claims.

i recently picked up a used I35 and it cost $2800 to insure both :cry:



Pfft, back when I was younger, I had a POS 1988 Nissan Multi, cost me $4300 back then to insure, but I never knew about 1 way, 2 way insurance back then, so I let my parents choose and I paid. Sucked hardcore.


But yeah I'm hoping for $1000 this year for renewal, no accidents/tickets or anything ever cept for hail damage claim payout.

[ShermanEF9]

wont know till may. ill be pissed if it increases. i already pay exactly
Arm: 1
Leg: 1
Testicle: 1.62
first unborn: 0.5

[A790]

My insurance went from $3,900 to $3,200/yr. 23/m/no tickets or accidents for 5 years.

[HiTempguy1]

I'm with AMA, been there for 5 years now (since I turned 16). I turned 21 last August. My renewal came up in November, and my insurance went from $115/month to $85/month, AND thats including having one car insured with only pl/pd and another car insured for storage. I was shocked and amazed when the policy came in the mail :thumbsup:

I have never caused an accident, and have no tickets to my name. (only ever gotten 3 photo radars).

[yakamo]

I switch to KTX last year because they offered the cheapest price I could fine. Since then it has being a battle with them whenever I need to contact them for anything. I highly recommend that you do not choose this insurance company regardless of what kind of deal they offer you.

When they first quoted me it was somewhere around $1350, things looked great I signed the papers and finalized everything. About a month and a half later I receive the pink slip along with a nice little price boost up to $1550 which now made it the second cheapest option. I called them constantly over the next two weeks trying to get an explanation and then never called me back and this is only the tip of the iceberg.

My favorite experience with them was when I changed my banking info (swapped banks) everything was supposedly A-OK. Few weeks later I receive a call from KTX stating that my last payment did not go through. I took down all my account info called up my bank and go figure it all checked out fine. Call KTX back explain everything is fine on the banking end they give me some bullshit and finally decide they will look into try to make the withdrawal again and call be back if they have anymore problems. week passes... two weeks... I assume everything is hunky dory at this point... two more weeks pass and I receive a registered letter (ooo joy!) explaining my insurance policy will be canceled 15 days from when I open this letter blah blah blah. So call up KTX and ask them what the hell is going on?!!?! to which they reply something like "Everything checks out fine sir, is there a problem?" They were not even aware that my policy was about to be canceled. Once again the told me they would look into and call me back and for once the actually did to let me know that my bank info was wrong... After going through a ton of crap it turned out that KTX never sent my new bank info to the insurance company. I had so little faith in KTX at this point I just skipped them and went straight to Economical Insurance and dealt with them. Basically I had to do the brokers job. sorry I am spewing away here. :barf:

I am so excited to move to a new company only a few more months! Only one mans experience but seriously the quality of service I receive from these guys is beyond laughable.

KTX = Worst Broker Ever

And to answer your post my rates have stayed pretty much the same for the last 4 years.

[TE4MFaint]

My insurance dropped this year down from 115/month to 100/month with a 4 year newer car than i owned from last year
(90 celica gtfour to a 94 celica gtfour) :dunno:

22 years old with no accidents. only plpd. but meh.

[HungryJack]

Mine dropped from 3000 to 1967 this year with TD.

[Supa Dexta]

I think mine was going to go up a touch, but I offset it by paying it in one shot.

[BlackArcher101]

Mine went up $5/mth... I also moved from Red Deer to Calgary, so odds are that increased it something like $15/mth but I had a $10/mth decrease.

[sloan]

Bought a new car, insurance is apprx. $450 cheaper than a 10yr+ civic.

[Mixalot27]

Originally posted by yakamo
I switch to KTX last year because they offered the cheapest price I could fine. Since then it has being a battle with them whenever I need to contact them for anything. I highly recommend that you do not choose this insurance company regardless of what kind of deal they offer you.

Thanks for this post. I will try to avoid this company or at least do more research on them if possible. Saving money is one thing but you also need a reasonable level of Customer Service and competence.

Has anyone dealt with Canadian Direct Insurance?

[jjmac]

I believe mine went down cause I noticed my monthly payment change to roughly $20 less.

But wasn't there some sort of talk about insurance decrease back in November?

[911fever]

oh you guys are whiners, I've been driving since I'm 17.
I'm 21 and with one ticket I pay $3300 a year for my 02 F150.
Without collision.
Ontario is garbage.

[Masked Bandit]

Assuming there have been absolutely NO changes in your underwriting criteria there should be a slight increase at best. Some of the things that make a difference are:

- age
- number of years licensed
- number of years continuously insured
- marital status
- address
- credit rating (no, I'm not kidding)
- length of time since your last claim (at fault or not)
- number of tickets in the past three years
- any suspensions in the past ten years
- coverage on the vehicle
- other insurance products you may have with your company (house insurance for example)


So really, the number of people who's insurance underwriting is exactly the same as the year before is pretty damn low. Even for myself. I've been driving 20 years and haven't had a claim or ticket in the past ten years, but this year I triggered a new discount for being licensed 20 years so my rate actually went down a touch.

Now with all of that said, some of our companies have pushed through 10%+ increases on base prices and some have actually decreased. It's up to your broker to keep track of this shit.

[Mixalot27]

Originally posted by Masked Bandit
Assuming there have been absolutely NO changes in your underwriting criteria there should be a slight increase at best. Some of the things that make a difference are:

- age
- number of years licensed
- number of years continuously insured
- marital status
- address
- credit rating (no, I'm not kidding)
- length of time since your last claim (at fault or not)
- number of tickets in the past three years
- any suspensions in the past ten years
- coverage on the vehicle
- other insurance products you may have with your company (house insurance for example)


Thanks for the info. All of these factors are the same for me this year other then of course age, number of years licensed, and continuously insured which are obviously all one higher than last year.

So I guess RBC must be one of the companies who increased their rates 10%+ this year, actually its around 18% increase. I don't have a broker due to having a poor experience previously, so I have been dealing directly with insurers. But maybe its time for me to consider using a broker again.

One question I have is does switching insurance companies often negatively effect your rating? I have been switching companies pretty much every year the last few years. It seems like they hook me in at a good rate and then increase it after the first year, without justification (tickets, claims, etc). So then I go elsewhere.

[Zero102]

I switched companies mid last year, taking my rates from $1870 to $900, but then when I went to renew this year they came down even further, another ~$65/year to ~$835/year. This is for full coverage on a 2008 Chrysler 300 Ltd.

The neon costs ~$440/year for PLPD only, that didn't change this year.

So for me, no rate increase this year.

The only thing you lose by frequently switching companies is any special offers you have with that company. Many places (like state farm) offer a discount for every year you stay with them. Then again, State Farm also kept raising my rates every year for those 4 years despite my discount being bigger each year than it was the last... hence my switch to Meloche Monnex.

[HondaKid]

My insurance dropped 25% simply by moving from RBC to TD, one phone call and it was done. You need to call around, make sure and compare apples to apples. Ask about how you can get a lower rate, for example if your home insurance is with them, etc.

[VaN_HaMMeRSTeiN]

Originally posted by Zero102
I switched companies mid last year, taking my rates from $1870 to $900, but then when I went to renew this year they came down even further, another ~$65/year to ~$835/year. This is for full coverage on a 2008 Chrysler 300 Ltd.

The neon costs ~$440/year for PLPD only, that didn't change this year.

So for me, no rate increase this year.

The only thing you lose by frequently switching companies is any special offers you have with that company. Many places (like state farm) offer a discount for every year you stay with them. Then again, State Farm also kept raising my rates every year for those 4 years despite my discount being bigger each year than it was the last... hence my switch to Meloche Monnex.

That's who I am with, I was paying 4000 a year with state farm, went to Meloche Monnex and it dropped to 2400. This year I turned 21 and have more tickets wiped from the record, so it should go down even more. :thumbsup:

[92Mx-3]

mine dropped $700 this year.. still pay up the ass for insurance tho..:thumbsdow

[Zero102]

Originally posted by VaN_HaMMeRSTeiN


That's who I am with, I was paying 4000 a year with state farm, went to Meloche Monnex and it dropped to 2400. This year I turned 21 and have more tickets wiped from the record, so it should go down even more. :thumbsup:

$2400/year isn't bad for full coverage at 21 with some tickets. I am 25, married and no tickets or at-fault accidents ever.

[bituerbo]

I just bundled my house insurance, but with extra line discounts, didn't end up costing me a thing. I'll be 25 in a few months, that should be a massive drop.

But I didn't have any increase over the new year... might be time to shop around. If RBC had a bad year in the stock market, their premiums go up to cover it. ICBC is likely not effected by this 'canada wide increase' so they are probably lying to you.

I'm 24 and am paying 4200 a year for:
Kawasaki ZX6 (full coverage)
Audi A6 (full coverage)
Chrysler neon (liability only)
50k life and my home insurance.