Topic: Rates go up at every renewal

[Bubba]

Sounds about right.  Plus with more vehicles having these active safety features I'm sure accidents will be trending down and less severe.  Less injuries and death.  But they argue that the cost to fix vehicles have gone up.

These are the days of $5,000 headlights.

[JohnnyMac]

Just be thankful you're not paying Ontario rates. What you quoted above for two vehicles is probably what you'd be paying for one vehicle here. Maybe even more with the at fault accident on record.

Very true, there is always someone worse off.  It's not the end of the world, just frustrating.

[ArticSteve]

Update, as expected TD is unwilling to reduce our premiums, have no explanation as to why our premiums have gone up so much, and their suggestion was to "shop around".  They have us over a barrel as we can't leave because of my wife's accident and everyone with a vehicle is forced to have insurance.

I checked their Facebook page and under their review section it is literally nothing but complaints.  Their rating out of 5 is 1.1, and I think it is only that high because oh likely can't give them any less than 1 star.

The insurance business cares nothing about their clients.  They want you to pay the most, deny as mainly claims as possible, and make the whole process as painful as possible.

For lack of a better word, this is a fascinating thread due to the issue of "accident forgiveness".  Accident forgiveness or whatever waiver the Ins. Co's call it is front and center to anyone's policy.  So if I understand this correctly, your wife had one accident forgiveness waiver available for use, but TD has decided to ignore it and charge her a renewal premium based on an accident?  What's their explanation for ignoring her accident waiver endorsement?  Appears to be a breach of policy on their part.

[marcus_go]

BC under ICBC is going to no-fault model here in May. We have had high rates for quite some time. My annual premium went up about $600 over 5 years. I checked to see what I will be paying come May and it will be around $1400 a year for full coverage. Was previously paying around $2200. Pretty happy about that.

Curious, do private insurers in other provinces give much of a discount for insuring classic or collector vehicles that are only driven for pleasure purposes?

[JohnnyMac]

Update, as expected TD is unwilling to reduce our premiums, have no explanation as to why our premiums have gone up so much, and their suggestion was to "shop around".  They have us over a barrel as we can't leave because of my wife's accident and everyone with a vehicle is forced to have insurance.

I checked their Facebook page and under their review section it is literally nothing but complaints.  Their rating out of 5 is 1.1, and I think it is only that high because oh likely can't give them any less than 1 star.

The insurance business cares nothing about their clients.  They want you to pay the most, deny as mainly claims as possible, and make the whole process as painful as possible.

For lack of a better word, this is a fascinating thread due to the issue of "accident forgiveness".  Accident forgiveness or whatever waiver the Ins. Co's call it is front and center to anyone's policy.  So if I understand this correctly, your wife had one accident forgiveness waiver available for use, but TD has decided to ignore it and charge her a renewal premium based on an accident?  What's their explanation for ignoring her accident waiver endorsement?  Appears to be a breach of policy on their part.

No that is not the case, the accident is not counted if we stay with TD.  She does lose her accident forgiveness for a period of 7 years at which point so we can add that back to the policy.  But if we leave for a different ins company the accident would be calculated.  Our policy went up because they put all their rates up, no explanation other than they want to make more money this year.

[JohnnyMac]

BC under ICBC is going to no-fault model here in May. We have had high rates for quite some time. My annual premium went up about $600 over 5 years. I checked to see what I will be paying come May and it will be around $1400 a year for full coverage. Was previously paying around $2200. Pretty happy about that.

Curious, do private insurers in other provinces give much of a discount for insuring classic or collector vehicles that are only driven for pleasure purposes?

Can be hard to find an insurance company that will insure older vehicles and actually have them valued correctly.  But if you are only insuring it for a few thousand kms per year and during the nice weather.months the.rates are lower.

[blur911]

Curious, do private insurers in other provinces give much of a discount for insuring classic or collector vehicles that are only driven for pleasure purposes?

Only certain ones give a good discount.   Hagerty has good rates, my broker also suggested Echelon.   You have to have a "regular vehicle" on the road as well.  You insure for an agreed upon value beforehand and pay based on that.  Echelon requires an appraisal I believe.   They can be pretty picky about what can qualify too, Echelon is ok with my 911, but not the Miata.

[marcus_go]

Curious, do private insurers in other provinces give much of a discount for insuring classic or collector vehicles that are only driven for pleasure purposes?

Only certain ones give a good discount.   Hegarty has good rates, my broker also suggested Echelon.   You have to have a "regular vehicle" on the road as well.  You insure for an agreed upon value beforehand and pay based on that.  Echelon requires an appraisal I believe.   They can be pretty picky about what can qualify too, Echelon is ok with my 911, but not the Miata.

Yeah, I have heard about Hagerty. I think they are quite popular for the collector market. My dad has 2 air-cooled 911s (3.2 Carrera and 993). Both are collector plated and only about $550 per year but no agreed value. I remember researching Hagerty and they had quite strict conditions.

[blur911]

BC under ICBC is going to no-fault model here in May. We have had high rates for quite some time. My annual premium went up about $600 over 5 years. I checked to see what I will be paying come May and it will be around $1400 a year for full coverage. Was previously paying around $2200. Pretty happy about that.

Is that for one vehicle?   
Urban postal code?

[marcus_go]

BC under ICBC is going to no-fault model here in May. We have had high rates for quite some time. My annual premium went up about $600 over 5 years. I checked to see what I will be paying come May and it will be around $1400 a year for full coverage. Was previously paying around $2200. Pretty happy about that.

Is that for one vehicle?   
Urban postal code?

1 vehicle in greater Vancouver.

[ArticSteve]

Update, as expected TD is unwilling to reduce our premiums, have no explanation as to why our premiums have gone up so much, and their suggestion was to "shop around".  They have us over a barrel as we can't leave because of my wife's accident and everyone with a vehicle is forced to have insurance.

I checked their Facebook page and under their review section it is literally nothing but complaints.  Their rating out of 5 is 1.1, and I think it is only that high because oh likely can't give them any less than 1 star.

The insurance business cares nothing about their clients.  They want you to pay the most, deny as mainly claims as possible, and make the whole process as painful as possible.

For lack of a better word, this is a fascinating thread due to the issue of "accident forgiveness".  Accident forgiveness or whatever waiver the Ins. Co's call it is front and center to anyone's policy.  So if I understand this correctly, your wife had one accident forgiveness waiver available for use, but TD has decided to ignore it and charge her a renewal premium based on an accident?  What's their explanation for ignoring her accident waiver endorsement?  Appears to be a breach of policy on their part.

No that is not the case, the accident is not counted if we stay with TD.  She does lose her accident forgiveness for a period of 7 years at which point so we can add that back to the policy.  But if we leave for a different ins company the accident would be calculated.  Our policy went up because they put all their rates up, no explanation other than they want to make more money this year.

I see.  Never dawned on me that switching companies would affect the accident forgiveness clause.  Perhaps that's why they decided to jam you.  Went back and re read your original post.  You're new rate is $2200 for two vehicles?  You're still 30% cheaper than rural Ontario.

[ltruong]

BC under ICBC is going to no-fault model here in May. We have had high rates for quite some time. My annual premium went up about $600 over 5 years. I checked to see what I will be paying come May and it will be around $1400 a year for full coverage. Was previously paying around $2200. Pretty happy about that.

Curious, do private insurers in other provinces give much of a discount for insuring classic or collector vehicles that are only driven for pleasure purposes?

Can be hard to find an insurance company that will insure older vehicles and actually have them valued correctly.  But if you are only insuring it for a few thousand kms per year and during the nice weather.months the.rates are lower.

we changed our insurance with a company going through Costco last year.  we Saved ALOT.  basicly about 25-30%.

[JohnnyMac]

Okay, last update.  So I was getting some quotes from local insurance brokers/companies.  Well one lady took a crazy long time to get back to us.  She even asked me a question last week.  Anyway, got a quote from her and she states, the at fault accident that happened in 2019 is not showing in the system, in fact there are no at fault accidents listed at all.  Which is surprising because our insurance company took away my wife's accident forgiveness the second she called to report the incident.  So what happened is my wife rear ended a guy, so light that only a scratch/paint transfer on his bumper and no damage to ours, so the guy must have realized that the damage could be repaired on his own with some scratch doctor and never put a claim through.

So it took this lady looking it up in her system for us to realize that no claim was ever filed.  Anyway, the quote is only like $100 better for auto, we lose a couple of little perks.  But the big savings is for our home insurance which would go down $600, but again we would lose a couple little things for coverage.

So now we are weighing the pros and cons.  I already told my wife one of the major pros for switching is that I'll be able to call our current insurance, ask to speak to a manager, chew the guy out for jacking up our premiums and taking away my wife's accident forgiveness, and then telling him to suck a whale dick because we are cancelling all coverage and going with another company.

I have a couple of questions for this new coverage before making a final decision, but right now I'm thinking we'll be switching.

[Ex-airbalancer]

So now we are weighing the pros and cons.  I already told my wife one of the major pros for switching is that I'll be able to call our current insurance, ask to speak to a manager, chew the guy out for jacking up our premiums and taking away my wife's accident forgiveness, and then telling him to suck a whale dick because we are cancelling all coverage and going with another company.

You would really do that 

[rrocket]

So now we are weighing the pros and cons.  I already told my wife one of the major pros for switching is that I'll be able to call our current insurance, ask to speak to a manager, chew the guy out for jacking up our premiums and taking away my wife's accident forgiveness, and then telling him to suck a whale dick because we are cancelling all coverage and going with another company.

You would really do that 

Jesus man it’s business not personal

But insurance companies are about as loathsome as it gets as far as companies go.

They do BS like he mentioned knowing full well there isn't much you can do about it.

[tortoise]

Can you please, pretty please, use the term whale dick when you speak to him.   Thanks!

[JohnnyMac]

So now we are weighing the pros and cons.  I already told my wife one of the major pros for switching is that I'll be able to call our current insurance, ask to speak to a manager, chew the guy out for jacking up our premiums and taking away my wife's accident forgiveness, and then telling him to suck a whale dick because we are cancelling all coverage and going with another company.

You would really do that 

Jesus man it’s business not personal

But insurance companies are about as loathsome as it gets as far as companies go.

They do BS like he mentioned knowing full well there isn't much you can do about it.

Exactly, of course I am exaggerating but I will express my feelings on the subject.  I put insurance companies right with cable providers as industries that I hate, they are the scum of the earth, praying on the weak, using their power to squeeze every last dollar from their "clients".

[Ex-airbalancer]

So now we are weighing the pros and cons.  I already told my wife one of the major pros for switching is that I'll be able to call our current insurance, ask to speak to a manager, chew the guy out for jacking up our premiums and taking away my wife's accident forgiveness, and then telling him to suck a whale dick because we are cancelling all coverage and going with another company.

You would really do that 

Jesus man it’s business not personal

But insurance companies are about as loathsome as it gets as far as companies go.

They do BS like he mentioned knowing full well there isn't much you can do about it.

Exactly, of course I am exaggerating but I will express my feelings on the subject.  I put insurance companies right with cable providers as industries that I hate, they are the scum of the earth, praying on the weak, using their power to squeeze every last dollar from their "clients".

Just like people working for the government 

[JohnnyMac]

So now we are weighing the pros and cons.  I already told my wife one of the major pros for switching is that I'll be able to call our current insurance, ask to speak to a manager, chew the guy out for jacking up our premiums and taking away my wife's accident forgiveness, and then telling him to suck a whale dick because we are cancelling all coverage and going with another company.

You would really do that 

Jesus man it’s business not personal

But insurance companies are about as loathsome as it gets as far as companies go.

They do BS like he mentioned knowing full well there isn't much you can do about it.

Exactly, of course I am exaggerating but I will express my feelings on the subject.  I put insurance companies right with cable providers as industries that I hate, they are the scum of the earth, praying on the weak, using their power to squeeze every last dollar from their "clients".

Just like people working for the government 

Listen being in the job that I have in government I deal with crappy people all the time, but for me I'm always nice to them as I understand how people feel about government.

[evil_twin]

So now we are weighing the pros and cons.  I already told my wife one of the major pros for switching is that I'll be able to call our current insurance, ask to speak to a manager, chew the guy out for jacking up our premiums and taking away my wife's accident forgiveness, and then telling him to suck a whale dick because we are cancelling all coverage and going with another company.

You would really do that 

Jesus man it’s business not personal

But insurance companies are about as loathsome as it gets as far as companies go.

They do BS like he mentioned knowing full well there isn't much you can do about it.

Exactly, of course I am exaggerating but I will express my feelings on the subject.  I put insurance companies right with cable providers as industries that I hate, they are the scum of the earth, praying on the weak, using their power to squeeze every last dollar from their "clients".

Your mistake is in assuming this guy has any control over the situation or really gives a sh!t about your thoughts.   But feel free to waste your time.

I also loathe insurance and cable providers but never assume anyone I get on the phone can really make a difference.