Topic: 20% increase in premium with no new claim/ticket??

[EV-Light]

Your postal code have probably change in the risk scale...


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[quadzilla]

Your postal code have probably change in the risk scale...

Think you meant that EVERYBODY'S postal code has gone up on the risk scale.

FTR, mine also went up with zero claims or tickets.

[johngenx]

Things are changing in Alberta too. The premium cap has been eliminated and companies are warning us that hefty jumps are coming.

ICBC is broke after the Clarke government siphoned off all its reserves and B.C. residents are seeing increases, especially new drivers. My SIL is looking at $6K+ to add her son to their policy. Closer to $10K for him to get his own.

Be careful out there, as we will see more and more uninsured drivers on the roads.

[Ex-airbalancer]

Yes, it has gone up across the board in Ontario. No moving violations and/or tickets for the last 8 years. Personal AND commercial premiums have gone up ~10%-15% this renewal. In the last 27 years we have made one claim of $10,000 and this was way back in 2001 for a collision. Have easily paid more than $100,000 in premiums since, personal and commercial.

$100,000 in 27 years 
That is pretty funny , that is only $3,700 a year   

[EV-Light]

Your postal code have probably change in the risk scale...

Think you meant that EVERYBODY'S postal code has gone up on the risk scale.

FTR, mine also went up with zero claims or tickets.

My friend out in Kenora received no increase at all...same rate as last year.




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[duck]

I am late to this topic

December 2019 my insurance went up by 24 %.   December 2020 it went up again this time by 33%.  I have been with Wawanesa since 1986. No tickets.  Fender bender in 2005.  My broker said there is nothing he can do.  Excellent credit score 863.  I live in Alberta.

I did some research and it appears all insurance companies increased their premiums at the same time. 

[ltruong]

I am late to this topic

December 2019 my insurance went up by 24 %.   December 2020 it went up again this time by 33%.  I have been with Wawanesa since 1986. No tickets.  Fender bender in 2005.  My broker said there is nothing he can do.  Excellent credit score 863.  I live in Alberta.

I did some research and it appears all insurance companies increased their premiums at the same time.

Im in Calgary, mine went up too then I started shopping, i found a company through Costco and therr was quite a bit of savings

[duck]

I am late to this topic

December 2019 my insurance went up by 24 %.   December 2020 it went up again this time by 33%.  I have been with Wawanesa since 1986. No tickets.  Fender bender in 2005.  My broker said there is nothing he can do.  Excellent credit score 863.  I live in Alberta.

I did some research and it appears all insurance companies increased their premiums at the same time.

Im in Calgary, mine went up too then I started shopping, i found a company through Costco and therr was quite a bit of savings

I hope it is not Manulife.  I do not like them.  Thanks for the tip.

[dkaz]

It’s cheaper to insure my car in BC now.

[Golly]

Manitobans will get an 8.8% decrease next year

https://www.cbc.ca/news/canada/manitoba/auto-insurance-rates-manitoba-drop-8-8-per-cent-1.5843951

Both our kids went to Ontario for university and for the last 5 years(2000-2005), they shared a vehicle but it had to be plated and insured in Ontario.  Ontario insurance was doubled what it was in Manitoba.

[rrocket]

Manitobans will get an 8.8% decrease next year

https://www.cbc.ca/news/canada/manitoba/auto-insurance-rates-manitoba-drop-8-8-per-cent-1.5843951

Both our kids went to Ontario for university and for the last 5 years(2000-2005), they shared a vehicle but it had to be plated and insured in Ontario.  Ontario insurance was doubled what it was in Manitoba.

Statistically one of the safest places to drive in North America..yet one of the most expensive.

And I read insurance companies may have record profits this year.

[Golly]

Manitobans will get an 8.8% decrease next year

https://www.cbc.ca/news/canada/manitoba/auto-insurance-rates-manitoba-drop-8-8-per-cent-1.5843951

Both our kids went to Ontario for university and for the last 5 years(2000-2005), they shared a vehicle but it had to be plated and insured in Ontario.  Ontario insurance was doubled what it was in Manitoba.

Forgot to mention that earlier in the year policy holders were rebated $140 - $160
https://www.cbc.ca/news/canada/manitoba/manitoba-crown-services-jeff-wharton-covid-19-1.5542376

Also we are expecting another rebate around $100 , "cheques in the mail"
https://www.cbc.ca/news/canada/manitoba/manitoba-public-insurance-rebate-100-1.5821995

[Golly]

ICBC(government run auto insurance) in BC is rebating insurance premiums averaging $190

https://www.cbc.ca/news/canada/british-columbia/icbc-rebate-covid-19-details-announced-1.5897915

[Firm]

I'd been meaning to call my insurance to notify them that I am WFH and not commuting anymore, but it was low on my priority list since I figured it would be nominal or no impact to my rate....color me surprised because I got a rate drop of $327/yr. Now I feel silly for not calling earlier, oh well.