Alberta Auto Insurance change - DCPD

[ExtraSlow]

Legislative change to Alberta Auto Insurance?
Sounds like it's good for people who drive shitty cars, am I reading this right? Must be bad for people driving nice cars then?

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The new coverage, known as direct compensation for property damage (DCPD), is legislated in Bill 41, the Insurance Amendment Act , which passed into law almost a year ago.

https://calgaryherald.com/news/local...4-c6e1a4d9c6b5

Beyond insurance experts, what say you?

[jwslam]

What my broker sent

[ExtraSlow]

Neat examples. Seems that anyone driving a newer car also has at-fault accidents, which kinda hides the actual mechanism here.

[Masked Bandit]

The whole thing is supposed to be rate neutral but I've heard that song before. This change is notable to someone working in the claims department of an insurance company but that's about it. Most people shouldn't notice much of anything other than the normal 25% - 30% year over year increases...lol...JK...sort of.

[ExtraSlow]

Tough time to be rich, amirite?

[firebane]

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The whole thing is supposed to be rate neutral but I've heard that song before. This change is notable to someone working in the claims department of an insurance company but that's about it. Most people shouldn't notice much of anything other than the normal 25% - 30% year over year increases...lol...JK...sort of.

God I hope not.. Insurance rates keep going up for me as it is with no issues on my record at all. I think 2 years ago I saw a 20-35% increase as it was..

[Masked Bandit]

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God I hope not.. Insurance rates keep going up for me as it is with no issues on my record at all. I think 2 years ago I saw a 20-35% increase as it was..

I'M HOPING...we've seen the end of goofy increases but nothing would surprise me at this point. My best guess is 5% - 10% for 2022.

[jwslam]

Have you been seeing increased cases of people getting hit by uninsured drivers?
Due to more unemployment / increased premiums etc.

[prae]

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I'M HOPING...we've seen the end of goofy increases but nothing would surprise me at this point. My best guess is 5% - 10% for 2022.

I'm not so sure about that. My former provider called me three days after I renewed and paid in full to demand a 20% rate increase for my renewal. They're not my provider any more.

[killramos]

lol @ legislating how insurance companies determine premiums.

[ExtraSlow]

Canada has a very heavily regulated insurance market. Know where insurance is cheap. New Zealand, where its optional.

[Pauly Boy]

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Have you been seeing increased cases of people getting hit by uninsured drivers?
Due to more unemployment / increased premiums etc.

I'd be curious to know this too. I know one of our contract staff rolling dirty like this, lol.

[SKR]

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I'M HOPING...we've seen the end of goofy increases but nothing would surprise me at this point. My best guess is 5% - 10% for 2022.

I told you, comrade. Capitalism is over. Move back to Mother Saskatchewan.

[Masked Bandit]

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Have you been seeing increased cases of people getting hit by uninsured drivers?
Due to more unemployment / increased premiums etc.

Honestly, no. I would have really thought that would be the case when everything went to shit last year but it just never materialized.

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I told you, comrade. Capitalism is over. Move back to Mother Saskatchewan.

Just need one more dirty capitalist paycheque

Or a few dozen?

[ExtraSlow]

I used to dream about retiring rich, but realized that's stupid, so now every time I lok at ym retirement planning, I slide the date closer by a year or two. Socialism works great for people who don't work.

[Xtrema]

You what this tell me is that I should go out and search for $5K beaters going forward, like Rage's Sentra

[ExtraSlow]

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You what this tell me is that I should go out and search for $5K beaters going forward, like Rage's Sentra

Beyond civic going to be a 90's civic again.

[jwslam]

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You what this tell me is that I should go out and search for $5K beaters going forward, like Rage's Sentra

His Sentra580 or his Civic63 are both suitable options for me at a $5k pricetag.

[rage2]

My Sentra worth 5k? Sweet.

[SKR]

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I used to dream about retiring rich, but realized that's stupid, so now every time I lok at ym retirement planning, I slide the date closer by a year or two. Socialism works great for people who don't work.

I'm just going to spend my money until I run out and then shoot myself in the dick and face. I don't know if that's capitalist or communist though.