Aviva is refusing to allow collision on any car over 500hp (split)

[killramos]

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Teenage girls.

I have always wondered where the “young men are expensive to insure” came from. I don’t have enough fingers to count the number of write offs I know of that where 16-22 year old women, they seriously dgaf.

Only only guy friend I know of who has.

[JRSC00LUDE]

That's a net 800 per year increase, many people couldn't effectively afford that even if they needed the cars.

[rage2]

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If you scroll back, it's because in Alberta, people are making massive claims based on concussions and TMJ injuries which bypasses the soft tissue cap. I did some googling on it a while back, and literally every Alberta injury lawyer describes in full detail how to get around the cap to encourage people to come forward. ICBC lost a ton of cash for the same reason, and as of 6 months ago BC reclassified concussions and TMJ as minor capped injuries. Crown Corps work fast. Other provinces already have those injuries capped as well. Alberta is losing money because they can't control these payouts, and can't increase rates further because it's regulated.

Has nothing to do with hail. Some articles on BC:

https://vancouversun.com/news/politi...new-claims-cap

https://www.vancouverisawesome.com/2...yers-court-bc/

Article claims these changes are worth $1b/year. Assuming Alberta is the same it would mean each policy in Alberta needs to rise by ~$300, which insurers in Alberta aren't allowed to do because increases are regulated.

@Masked Bandit can confirm if that looks right.

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This man has a spy in my office...lol.

I didn't do the Marth on the numbers but your explanation is bang on.

While NDP capped insurance rates and created this mess, UCP is fixing the correct problem. NDP still says it’s UCPs fault haha.

https://www.cbc.ca/news/canada/edmon...view-1.5401305

53% of cost increases comes from injury lawyer payouts. Thought it’d be higher.

[94boosted]

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While NDP capped insurance rates and created this mess, UCP is fixing the correct problem. NDP still says it’s UCPs fault haha.

https://www.cbc.ca/news/canada/edmon...view-1.5401305

53% of cost increases comes from injury lawyer payouts. Thought it’d be higher.

So now everyone's premiums will jump (if they haven't already), shortly thereafter a cap will go into effect on concussions and TMJ claims, insurance companies won't reverse previous premium hikes and will therefore laugh all the way to the bank?

[dirtsniffer]

when there was limits placed on soft tissue injuries insurance premiums dropped 18%... Right from the quoted article.

[rage2]

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when there was limits placed on soft tissue injuries insurance premiums dropped 18%... Right from the quoted article.

The concept of competition and free market is lost in all the noise these days haha.

[Cagare]

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The concept of competition and free market is lost in all the noise these days haha.

This is exactly what I was thinking. We are way too far down the rabbit hole with this one now to go back to a true free market.

[ExtraSlow]

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The concept of competition and free market is lost in all the noise these days haha.

You capitalist pig!

[beyond_ban]

I saw a 30% increase in my premium, and this certainly helps explain it. So annoying to see a jump when i did nothing myself to deserve it.

[94boosted]

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when there was limits placed on soft tissue injuries insurance premiums dropped 18%... Right from the quoted article.

Yes but how much did they go up in the years preceding the cap? I'd be willing to bet it was a lot more than the 18% the premiums dropped after the cap.

[Masked Bandit]

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While NDP capped insurance rates and created this mess, UCP is fixing the correct problem. NDP still says it’s UCPs fault haha.

https://www.cbc.ca/news/canada/edmon...view-1.5401305

53% of cost increases comes from injury lawyer payouts. Thought it’d be higher.

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The concept of competition and free market is lost in all the noise these days haha.

How DARE you use common sense and logic to evaluate a real world situation!!!

The years of 2001 - 2004 were an epic mess in the auto insurance industry and when the legislation was changed in October of 2004 it brought at least a dozen years of stability to things. I'm now seeing that same turmoil and if we get some legislative change in the next 24 months we'll have stability again just in time for the next election. See how that works kids?!?!

[Buster]

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I saw a 30% increase in my premium, and this certainly helps explain it. So annoying to see a jump when i did nothing myself to deserve it.

So you want the benefits of pooled risk but the costs if an individual?

[beyond_ban]

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So you want the benefits of pooled risk but the costs if an individual?

I get the economics behind it, but i feel a 30% bump is still logically going to cause some annoyance.

[killramos]

The people you should be annoyed with are the ones sueing for an arm and a leg for ever more creative “injuries” that are driving up the premiums.

[EM2FTL]

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How DARE you use common sense and logic to evaluate a real world situation!!!

The years of 2001 - 2004 were an epic mess in the auto insurance industry and when the legislation was changed in October of 2004 it brought at least a dozen years of stability to things. I'm now seeing that same turmoil and if we get some legislative change in the next 24 months we'll have stability again just in time for the next election. See how that works kids?!?!

You should probably read this story in full: https://www.pressreader.com/canada/c...82398395119686

[beyond_ban]

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The people you should be annoyed with are the ones sueing for an arm and a leg for ever more creative “injuries” that are driving up the premiums.

Can't beat em? Join em. Anyone down for a group fender bender?

[killramos]

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Can't beat em? Join em. Anyone down for a group fender bender?

Is that some kind of millennial euphemism?

[16hypen3sp]

Bumping. Just got my motorcycle insurance renewal.

Two bikes. Collision included. $500 deductible. Total premium for 2020 is $1081. Premium for 2019 was $1138.

Biggest change is I can no longer pay only over the season. I have to pay over 12 months now.

[happy hopping]

aviva is a sickening co. I have been with them for many years. They are good when they collect $ from you. But when you have a claim in which the other side is at fault, they turn it against me. I switch over to another co. on my home insurance this Jan. (eventhough aviiva has a lower price) and I'll be switch over my car insurance to ANY other co. this Sept.

[killramos]

But do the other CO’s doors go vertical?

Didn’t think so.