Interesting Insurance Info

[rage2]

So I'm nearly complete in switching all my insurance to Meloche Monnex. When I switched my Civic over (project car), I told them I'll be modifying it. They refused coverage, after a bit of begging, they approved me for PLPD only. No big deal.

So I called to add my 944 Turbo to the policy.

Rep : "Has it been modified?"
Me : "Yes, extensively"
Rep : "Is it making more than 20% of original power"
Me : "About 200% more power"
Rep : "Wow. That's cool. How much do you think it's worth?"
Me : "About $30k? I dunno"
Rep : "OK, it'll be insured for book value, once you get it appraised it'll be changed to appraised value. Rates won't go up unless appraised value is over $40k"
Me : "Sweet!"

So ya, insurance doesn't like ricers either haha. I can't believe how trouble free it was to insure the 944, with so many mods on the car.

[Gonthro]

hahaha, thats great

[Superesc]

you serious??? damn I should call them to "update" my vehicle info :D

[max_boost]

Wow that's awesome man

Meloche Monnex is a subsidiary of TD correct? So age requirements would still be minimum 25?

Who would perform the appraisal process on your car?

[Gonthro]

Originally posted by Superesc
you serious??? damn I should call them to "update" my vehicle info :D

and then they'll cancel your account because its a civic :P

[rage2]

MM and TD are the same company, just targetting different people. MM targets the "professionals", guys with degrees, or professional jobs.

I actually don't really qualify because I'm a dropout, but luckily, I'm married to a U of A graduate who works in a hospital lol.

[max_boost]

So MM's target market are those with degrees and/or professional jobs? No age requirements?

Sweet cause I don't have a professional job but my gf and I will have our degrees within the next year.:D

[Loose]

ha ha, just wait till oct 1. and everything changes....maybe your changes with MM will only be good for a month :dunno:

[rage2]

Originally posted by Loose
ha ha, just wait till oct 1. and everything changes....maybe your changes with MM will only be good for a month :dunno:
Oct 1 is gonna suck. They do expect my rates to go up, based on the training that they've had. Apparantly, a LOT of the training is how to deal with angry customers asking why their rates went up.

BTW - the reason I changed to MM was not because of rates (which is cheaper anyways). It's because AMA fucked me over when I got rear ended twice. They refused to pay for new stuff without me arguing forever, they told me they won't renew or add any "sports cars" because I go to the track, and they're just a bunch of pricks.

Oh, also, come Oct 1, if rates go up, they won't affect me until my renewal according to the rep I spoke with. If the rates go down, I'll get a refund.

[FiveFreshFish]

What happens Oct. 1?

[rage2]

The new alberta insurance mandated rates comes into effect. Cheap insurance if you're under 25 years old.

[blueripper6]

I have a question too..

When I insure my whip(if i get it soon:dunno: ) Should I not tell them that ill be going to the track?

im only 16 heh

[Dave P]

Doesnt matter. track is a no insurance zone

[max_boost]

Originally posted by Dave P
Doesnt matter. track is a no insurance zone If you wreck your car on the track, you are SOL correct? I think this goes for virtually all Insurance companies and is listed in the disclaimer section of the agreement?

[Dave P]

That is correct as far as i know

[FiveFreshFish]

Originally posted by Dave P
Doesnt matter. track is a no insurance zone

What if you car gets stolen at the track? Yah, silly question but it's still a possibility.

[Dave P]

hmm, i acutally dont know. ill ask my boss when i see him

[blueripper6]

Wont they refuse coverage or increase premiums if i race at the track?
Im thinking that there gonna think i race on the streets too.

[Dave P]

ok, he said if its stolen from a parking lot at the track your covered.

if your on the track or pits, and its stolen he believes your covered, but you have to be able to prove it was stolen and wasnt on the track crashed and "disappeared". but this could very company to company.

if your on the track or in the pits and your car is damaged resulting from you racing, or even someone else racing (hitting you, etc) your not covered

[Dave P]

Originally posted by blueripper6
Wont they refuse coverage or increase premiums if i race at the track?
Im thinking that there gonna think i race on the streets too.

they wont refuse covereage based on that. but being 16 and saying your racing wont convince them to give you any better rate.

[FiveFreshFish]

Thanks for the clarification, Dave. :)

[B18C]

Originally posted by rage2
The new alberta insurance mandated rates comes into effect. Cheap insurance if you're under 25 years old.

This is perfect timing since I turn 25 in December and was looking forward to much lower rates :rolleyes: :banghead: :banghead:

[sexterhardon]

are there any threads about the new insurance? im 16 and i hope these rates will apply to me, i actually just totaled my car today so im pretty fucked for insurance. will this help me even though ive got an at fault?

[rage2]

Originally posted by sexterhardon
are there any threads about the new insurance? im 16 and i hope these rates will apply to me, i actually just totaled my car today so im pretty fucked for insurance. will this help me even though ive got an at fault?
Your rates will be affordable. The new insurance reforms are designed around the young drivers and the poor drivers.

[rage2]

Originally posted by Dave P
they wont refuse covereage based on that.
Search for my AMA hate thread ;). Believe me, they WILL refuse coverage because you track the car, even though you're well aware that there's zero coverage at the track.

[Big_C_racing]

I would like to know what the book saysregarding track usage. I was at the track when an BMW MZ coupe slammed headon into the wall doing about 20g's in damage to the car. I was told by the guy that it came out of his pocket because we were doing a timed event. I was also told that the insurance would have covered it if we were NOT doing timed laps on the track but rather doing untimed laps.

[Skyline_Addict]

damn, i need cheaper insurance.
where do i start going about that?

[#1hustler]

Not all track accidents are considered no coverage, my neighbours ferrari 360 was put into the wall at an e-town porsche club event at race city, was a write-off and was covered under alberta insurance. BC is another story though; there is no track coverage.

[rage2]

It doesn't matter if it's a timed event or not, there is no coverage from your day to day insurance at the track if u do anything or get hit by others.

[Loose]

i think that really depends on your policy...

there is only one way to find out!:burnout:

[C4S]

:D :D

I just switch back to Monnex this month as well ... with some "issue" I was with a high risk insurance company, and paid over $10,000 on insurance last yr.... :banghead: :banghead:

But this yr .. back to only $5K ... :thumbsup:
And monnex never ever ask if there is any modification ... :angel:

[Ben]

When I insured my car with TD I old them I had put a different motor in my car. They asked if it was available in that chassis code and I said yes, and they said awesome, no problem. I pay a lot more than a regular 8V POS golf but at least I'm covered.

[Xpnsve]

Monnex Rules man!

[Weapon_R]

I've tried to use the Primmum website a million times to get a quote, but it never works.

Anyways, I now have a degree, so am I now eligible? And what type of proof do they require?

[Altezza]

Hmm...how interesting.... MM here I come!

[blitz]

Originally posted by Weapon_R
I've tried to use the Primmum website a million times to get a quote, but it never works.

Anyways, I now have a degree, so am I now eligible? And what type of proof do they require?

They didn't require any proof from me, I just told them I was applying to be a member of APEGGA, and that was it.

Now I bet they'll check if you ever get in an accident.

[Loose]

I had to give them my APEGGA # when I signed up.

[Rockski]

Originally posted by rage2

Your rates will be affordable. The new insurance reforms are designed around the young drivers and the poor drivers.


whoo hooo poor drivers :thumbsup: