Ask me anything about Car Insurance

[night888]

Please keep in mind I'm only really experienced in Alberta insurance (rules will differ from province to province).

I have worked as an agent for a large direct writer insurance company, and I have also had extensive experience as an independent broker dealing with several companies.

I guess the first thing that I will say is that insurance can an inexact science, and I have often seen underwriters within the same company make different judgements on the same issue.

With that being said...please ask away and I should be able to respond to this thread daily Monday through Friday. I'm contributing to an insurance blog and I'm hoping that I can use some of the questions asked here to generate some good articles/topics of discussion.

***DISCLAIMER: as always, while the information I post here is believed to be reliable and accurate at the time of posting, I do not guarantee, represent or warrant that the information contained on this site is accurate, complete, reliable, verified or error-free ***


EDIT: If you're looking for quotes or concerned with how much you are paying with insurance, pm me with details and I can refer you to one of my broker friends that can check competing companies OR a direct insurer based on group discounts you may qualify for (for example Meloche is good for engineers, ING Novex is good for hospital workers). Id prefer to keep the thread geared towards advice and general questions only.

EDIT2: I am unqualified to answer questions about claims and will no longer do so.

[Dave P]

Where do you work? TD? Co-Operators? Statefarm?

There are a few of us insurance junkies on here

[night888]

Originally posted by Dave P
Where do you work? TD? Co-Operators? Statefarm?

There are a few of us insurance junkies on here

Hi, I most recently worked with a smaller private brokerage, and I'm actually looking for a change of pace so I'd prefer to stay anonymous for now

Which one did you work for??

[alloroc]

If a random lightning strikes a car that hits a tree that falls in front of another car that fails an avoidance maneuver spins around and is now sliding backwards and hits my fence around and a fencepost hits my trailer as I am about to attach it to my car and the trailer wheel runs over my leg and breaks it who is at fault?

[top_speed]

Originally posted by alloroc
If a random lightning strikes a car that hits a tree that falls in front of another car that fails an avoidance maneuver spins around and is now sliding backwards and hits my fence around and a fencepost hits my trailer as I am about to attach it to my car and the trailer wheel runs over my leg and breaks it who is at fault?

night888

[TDFTW]

How much per month do i have to pay being 26, having liscense for 10 years, zero accidents, zero dui's or suspensions, just a few speeding and one 3 year old stunting ticket.
car will be 1989 dodge daytona full coverage

[Hamann]

Originally posted by alloroc
If a random lightning strikes a car that hits a tree that falls in front of another car that fails an avoidance maneuver spins around and is now sliding backwards and hits my fence around and a fencepost hits my trailer as I am about to attach it to my car and the trailer wheel runs over my leg and breaks it who is at fault?

It happens More than you would think

On a serious note, I've always wondered if going to a Insurance Broker could land you a better deal on Insurance than just calling the company yourself.

I'm one of those idiots that just picked the first one that came to mind and stayed with them, but I'm thinking of shopping around. Are you able to Help with that sort of thing?

[2EFNFAST]

If I offer you sucky sucky can I have a 50% discount on my insurance rates?

I mean, I'm already being bent over by the insurance company, what's a little sucky sucky on the side worth?

[night888]

Originally posted by alloroc
If a random lightning strikes a car that hits a tree that falls in front of another car that fails an avoidance maneuver spins around and is now sliding backwards and hits my fence around and a fencepost hits my trailer as I am about to attach it to my car and the trailer wheel runs over my leg and breaks it who is at fault?

Wow fun. I'm going to see if I can get one of my more qualified adjuster friends to answer this brainteaser but here's my take on it:
1) first car's comprehensive coverage would only cover damage by lightning to the car itself.
2) first car is liable for damage of tree caused by first car running into it, and damage from running into tree would be covered under first car's collision covg.
3) 2nd car that failed avoidance maneuver is liable for damage to fence, damage to trailer, and damage to your leg.

[night888]

Originally posted by TDFTW
How much per month do i have to pay being 26, having liscense for 10 years, zero accidents, zero dui's or suspensions, just a few speeding and one 3 year old stunting ticket.
car will be 1989 dodge daytona full coverage

If you're looking for quotes pm me with details and I can refer you to one of my broker friends. Id prefer to keep the thread geared more towards advice and general questions.

[night888]

Originally posted by Hamann


It happens More than you would think

On a serious note, I've always wondered if going to a Insurance Broker could land you a better deal on Insurance than just calling the company yourself.

I'm one of those idiots that just picked the first one that came to mind and stayed with them, but I'm thinking of shopping around. Are you able to Help with that sort of thing?

Every company has different rates and different customer service. Different brokers also have access to different companies (hence different rates) and have different levels of experience, service, etc. just like any other service job.

I know good, experienced brokers who provide amazing customer service (down to giving clients personal cell#s, etc. in the event of emergencies) and are often able to match or beat large, call-center based insurance companies' rates, but I've also met plenty of brokers who only care about their bottom line and are hard to get ahold of.

Take your time, do some research, make a few calls and chances are you can find a better company than the one you first started with (most people can benefit from a little bit of shopping around). If you don't know where to start pm me with some details (what city you live in, company you're currently with, what you're looking for insurance wise) and I can refer you to some brokers for quotes.

[realazy]

How about a question regarding tickets?

Is the severity of the ticket or the number of tickets more important in terms of how it affects insurance rates?

For example:

2 tickets for speeding 10km/h over resulting in 4 demerits

or

1 ticket for speeding 30km/h over resulting in 4 demerits

Which is worse?

[dimi]

How far back do you guys look to suspensions I got caught doing 250km/h 4 years when I still had my motorcycle.

[night888]

Originally posted by realazy
How about a question regarding tickets?

Is the severity of the ticket or the number of tickets more important in terms of how it affects insurance rates?

For example:

2 tickets for speeding 10km/h over resulting in 4 demerits

or

1 ticket for speeding 30km/h over resulting in 4 demerits

Which is worse?

Different companies will rate convictions differently.

The severity of the ticket does indeed matter. Normal speeding tickets, stop sign convictions, etc. all fall under "minor convictions". For one major unnamed insurance company, 4 minor convictions = 25% surcharge on the liability and collision portion of the insurance premium.

A "major conviction" can be failure to report an accident, improper passing of school buses, improper passing in a school one or playground, etc. For the same unnamed insurance company, each major conviction = 15% surcharge.

A "serious conviction" is any offense occuring under the criminal code of canada, eg: DUIs, criminal negligence or manslaughter committed in the operation of a motor vehicle, failure to stop at the scene of an accident, failure to stop for peace officers, careless driving, etc. The same unnamed insurance company will charge a 50% surcharge for each major conviction.

You can check with your insurance company on how they treat your convictions.

If your driving record is poor enough, your liability premium may be calculated based on the government grid calculation, which has set surcharges for convictions...just google "alberta grid calculation for liability" and you should get lots of info on it.

[bituerbo]

How long do I have for 'minor convictions' to stay on my record?

[night888]

Originally posted by dimi
How far back do you guys look to suspensions I got caught doing 250km/h 4 years when I still had my motorcycle.

How long was the suspension? What kind of conviction did you actually end up getting for it? Depending on the type it can be treated differently. Suspensions under 1 year typically don't hurt you much (the conviction itself does affect your premium however). Basically, all the suspension means is that you are not incurring insurance/driving history while you are suspended. If there is a 24 month gap in insurance, when you start insurance again your previous incurred insurance history will no longer apply. Otherwise, the type conviction that resulted in the suspension is usually more important of a factor in terms of affecting your insurance

[night888]

Originally posted by bituerbo
How long do I have for 'minor convictions' to stay on my record?

It would be 3 years from the date of conviction for new quotes, or the first renewal date AFTER 3 years have passed on the conviction on your existing policy.

Example:
If you called me for a quote today (June 30, 2009, I would only count minor convictions up until June 30, 2006).

If your current insurance policy ends in september 30, 2009, and all your tickets fall off on june 30, 2009, you will not see a rate change until your renewal on september 30, 2009 because most insurance companies will not change rates midterm.

[2EFNFAST]

Thanks for ignoring my question

[night888]

Originally posted by 2EFNFAST
Thanks for ignoring my question

Lol! :P Considering how expensive alberta car insurance is these days I think I'd get better value going straight to a high-end escort.

[kolumbo69]

Will my insurance be void if I am in a accident on the road NOT racing with 1 or all of the following: and I was injured

Racing collapsable steering wheel
FIA approved Racing seat(sparco etc.) other than original.
Racing Buckles
Roll cage without helmet.