Insurance premium spikes

[gretz]

@M.alex Speaking of cars, you should bring the 917 down to high river this weekend, weathers a beaut lol

[M.alex]

that's how much mileage i put on it in a year! :O

[ThePenIsMightier]

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.... wait.... you have a Sentra? Is that a nickname of some special Mercedes model?

The sponsors have missed some payments and Teh Bawss is driving a Sentra and eating KD.
#SupplyChain
#NewNormal

[mr2mike]

Hmm wonder why premiums go up?


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What would you like me to confirm? I'd be happy to comment on specific questions but there isn't much of anything I'm going to tell the group that will make everyone happy.

Confirm if this is part of why the increase.

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I spent some time reading about DCDP and if I understand it, previously for liability your insurer did not care what you drove since they only had to pay for what you did to somebody elses car. Now that they have to pay for your car in a no-fault, they care what you drive. And since the mustang rate group is probably above average since mustangs like to crash a lot, they assume I'm going to crash a lot and my liability goes up. At least that's my take if I understand it right.

[Masked Bandit]

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Hmm wonder why premiums go up?


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Confirm if this is part of why the increase.

For the most part, yes. Before the implementation of DCPD, your vehicle didn't have an impact on your liability premiums but now the liability component is essentially split into two categories, coverage for your car if someone else hits you and coverage for the other guy if you hit them. Theoretically it's supposed to reduce overhead costs industry wide and be revenue neutral for the driving public (some go up, some go down, some stay flat). Ontario has had this system for years but they are a mess. There's another evolution of this concept that will likely be implemented down the road that allows you to apply deductibles to certain situations that you never used to be able to.

[rage2]

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Hmm wonder why premiums go up?

Looks like a Tesla phantom braking zone causing people to rear end them.

[mr2mike]

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Looks like a Tesla phantom braking zone causing people to rear end them.

Took the short cut out of Brentwood. Wrong way and u turn onto crowchild.

[deeman98]

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Something is up with TD as I received some quotes just last week that are in the neighborhood of 20-30% lower than what I pay with TD. They used to offer good rates but they jacked our rates a few years ago and no longer seem as competitive. Anyone dealt with The Personal? ASET has teamed up with them and they came in lower than TD for my house and vehicles.

There is something up with TD. They adopted a "price optimization" algorithm to set the insurance premium to what they think a customer will tolerate. Look up what it means in the insurance industry and you'll know what I mean. The premium is no longer based solely on the driver's history and assessed risks. If you have been a loyal TD customer for a long time, clean driving record, no recent claims, belong to their special association program such as the alumni discount, you will see higher premium and face annual increases, because you fit the profile that you will tolerate it to be loyal to TD, because you are a proud customer.

I challenged them and I was immediately offered a 15% discount over the phone. WTF. I have been with them all my life, perfect driving record, no claims, university alumni, home and multiple auto policies with them, you'd think I should be offered their best rate automatically. But I fit their profile and I tolerated their high premium for a long time. The unjustified annual increases finally did it to me. I moved all my policies to another company and saw my auto premium dropped 40% immediately with better coverage. Best move I made. Goodbye TD.

[ExtraSlow]

I have complained about "price optimization" previously. Someone can look it up. Loyalty is basically never rewarded anymore. Same with telecom/mobile companies too.

[heavyD]

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Took the short cut out of Brentwood. Wrong way and u turn onto crowchild.

Ooh that's bad.

[Twin_Cam_Turbo]

What the fug. Was looking at buying a 2010 Lexus GX460 until I got an insurance quote. Pure insanity, nearly double what my 2017 M240i was costing for the same coverage.

[bjstare]

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What the fug. Was looking at buying a 2010 Lexus GX460 until I got an insurance quote. Pure insanity, nearly double what my 2017 M240i was costing for the same coverage.

Yeah our GX is horrible to ensure. Those and LXs are very easy to steal/ very commonly stolen. Probably because the taliban likes to use them to haul machine guns around their sandbox or something. Is that still a thing?

[Shlade]

I got told by Intact the Ford Raptor the wife and I were going to guy was going to be 5k deductible because its over 100k cost lol.

Both perfect driving records/history. Intact customers since 2007 too... Insurance companies are an absolute scam these days.

[03ozwhip]

I got denied insurance from hagerty for my 63 merc because of the type of wheels on it. Currently on the hunt for someone to insure me now, but no one has called me back, 4 different companies.

On another insurance note, I will have allstate when my insurance expires in the next few days, so I asked for a quote on the 89 mercedes......2500 a year....what in the actual fuck.

[bjstare]

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I got denied insurance from hagerty for my 63 merc because of the type of wheels on it. Currently on the hunt for someone to insure me now, but no one has called me back, 4 different companies.

On another insurance note, I will have allstate when my insurance expires in the next few days, so I asked for a quote on the 89 mercedes......2500 a year....what in the actual fuck.

Look for classic/collectors insurance. I paid $123/yr for full coverage for my 1996 sl500.

[mr2mike]

What's the issue with the wheels?
Safety issues with design? Hard to replace?

[03ozwhip]

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What's the issue with the wheels?
Safety issues with design? Hard to replace?

100 spoke daytons, not sure why, they didn't give me a reason, although it's probably because they go with lowriders with hydraulics etc and they won't insure those either.

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Look for classic/collectors insurance. I paid $123/yr for full coverage for my 1996 sl500.

I was planning on daily driving it, however I got an email back from him and he worded it incorrectly and said he can only insure it up to 2500. Still, nor good.

[Sentry]

I was getting assfucked by Wawanesa after being their customer for 10 years. Switched to TD and now I am paying LESS for comprehensive coverage on the Vic and Explorer than I was paying for just PLPD with Wawanesa.

[brucebanner]

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I got denied insurance from hagerty for my 63 merc because of the type of wheels on it. Currently on the hunt for someone to insure me now, but no one has called me back, 4 different companies.

On another insurance note, I will have allstate when my insurance expires in the next few days, so I asked for a quote on the 89 mercedes......2500 a year....what in the actual fuck.

Did you try old is gold?

http://oldisgoldcarinsurance.com/

[mr2mike]

Gotta be the bad press for Dayton's back in the 90s or the rapper hip hop scene with all the stolen rims and killings for them.

You'd think they'd update. Doubtful most around here even know their value.