What if you detune and email them a dyno pull?
What if you detune and email them a dyno pull?
On global this morning they had a segment where they talked about insurance and how some folks getting their renewals, have to fill out a huge form, lose some of their premiums (fire, theft, etc) and sold were told they have to pay for their premiums up front or lose their insurance. The argument from the insurance board was the soft tissue cap in Alberta and how they are losing money. They didn’t mention anything with regards to high hp vehicles.
So far I have had no issues with my insurance and the rate increase I had was very minor but mostly due to the new truck and my car getting a little older.
I just sold my 2006 SRT8. When I cancelled insurance I noticed they had that rate jacked up to 6500$/yr for full coverage. WTF??? It's not even in the 500hp club(on paper). A 13 year old car, that costs about 15-20k to replace in stock form, was 6500$ for insurance now. Meanwhile my brand new Merc that is like 80k to replace is only 3k$/yr. Figure that one out.
Im guessing the crash statistics on the SRT8 were a lot higher than your MB ?? It makes no sense either, but thats how it goes. They have stats on everything.This quote is hidden because you are ignoring this member. Show Quote
My guess is they're doing all this just to force people to move, so they can limit the exposure to auto insurance without leaving the market outright until conditions become favorable again. Really has nothing to do with anyone's histories and what not. All the things they're doing to push people away aren't regulated so it's fair game. You can still get basic insurance at grid rates for your 1000hp car, just can't get full coverage and have to pay upfront from my understanding.
Originally posted by SEANBANERJEE
I have gone above and beyond what I should rightfully have to do to protect my good name
Saw that as well last night. Insurance companies are apparently losing money in Alberta, and only Alberta? That hail damage must really do a number on them or something because we also pay the highest premiums in the country (according to the news).This quote is hidden because you are ignoring this member. Show Quote
Ultracrepidarian
I would shop around. There are still some insurance companies not affected by this unjustified reasoning.
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.This quote is hidden because you are ignoring this member. Show Quote
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.
Originally posted by SEANBANERJEE
I have gone above and beyond what I should rightfully have to do to protect my good name
All I know is insurance is already too expensive.
Originally posted by Thales of Miletus
If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
Originally posted by Toma
fact.This quote is hidden because you are ignoring this member. Show Quote
Just get in a fender bender (not your fault), make a single massive claim before they change the rules, and you'll be ahead of the game for years.
Originally posted by SEANBANERJEE
I have gone above and beyond what I should rightfully have to do to protect my good name
This man has a spy in my office...lol.This quote is hidden because you are ignoring this member. Show Quote
I didn't do the Marth on the numbers but your explanation is bang on.
"Masked Bandit is a gateway drug for frugal spending." - Unknown303
I don't have a spy. I just read the thread one night and googled for 5 mins. Then read more.
Advantages of an old fart, we read past the headlines?
Originally posted by SEANBANERJEE
I have gone above and beyond what I should rightfully have to do to protect my good name
This quote is hidden because you are ignoring this member. Show Quote
So the part of this that doesn't jive, is if insurance companies are so badly in need of cash, why are they cancelling policies on vehicles that command a premium insurance rate when they don't fall under any classification that is costing the insurance company money? Seems like they should be begging to insure everyones 500hp car in an attempt to bring in more revenue.
Its not that they are in need of cash. They have cash. Its just that they are losing money in this line of business.This quote is hidden because you are ignoring this member. Show Quote
We have the same issue in our office, rates have gone up and clients are livid.
Rage2 pretty much summed it up.
More likely that the 5% increase cap doesn't cover the damage that class of car costed them so they just cut that off.This quote is hidden because you are ignoring this member. Show Quote
Every auto policy is a potential liability. Insurance companies do more than auto. There is no way to predict which policies would have to pay out on an injury settlement. I’m pretty sure class of cars or usage types have nothing to do with it because you can’t predict who those clients hit. Could be a shitbox in a parking lot, could be a Viper on the highway. The math shows that they can’t be profitable in auto as it sits now, so to limit their exposure they’re just booting clients off using every trick in the book allowable under current regulations. The remaining clients will still lose money, just less money which will be offset by profits in other insurance products, probably less than what it costs to come back into Alberta market if they pulled out completely. When the problem is fixed, they’ll lift the restrictions and bring back clients.This quote is hidden because you are ignoring this member. Show Quote
That’s my best guess as to what’s happening. I’m sure there’s way smarter people there that have calculated how much to shrink their auto insurance exposure to offset the costs of marketing to bring clients back down the road as well.
Originally posted by SEANBANERJEE
I have gone above and beyond what I should rightfully have to do to protect my good name
I'm quite sure my wife would be more willing to reverse the clock to undo the accident she was involved in almost two years ago, not her fault but she is and will continue to suffer pain due to soft tissue injuries and monies from the lawsuit, when settled, will not make her feel better in any way. Ahead of the game for years, I suppose so but her continuing pain and decreased mobility sure doesn't make it feel like a win.This quote is hidden because you are ignoring this member. Show Quote
Will fuck off, again.
I can't say the premium for my viper is that bad, but I had to agree to a 10k deductible.
Too loud for Aspen
That's ridiculous.This quote is hidden because you are ignoring this member. Show Quote
Originally posted by SJW
Once again another useless post by JRSCOOLDUDE.
Originally posted by snowcat
Don't let the e-thugs and faggots get to you when they quote your posts and write stupid shit.^^ Fact CheckedOriginally posted by JRSC00LUDE
I say stupid shit all the time.
+1This quote is hidden because you are ignoring this member. Show Quote
Originally posted by Thales of Miletus
If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
Originally posted by Toma
fact.This quote is hidden because you are ignoring this member. Show Quote