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

[carcrazed]

I got my renewal letter from TDMM this week and the annual premium is 20% higher than last year.
I called to see why and the CSR could only come up with "It's a business decision... blah blah you have a at-fault accident in 2012."  While it's true that I had that 100% at-fault accident when I scraped a column in an underground parking lot, it should not dramatically increase my premium by 20%.  They were giving me accident forgiveness for free until last year "for having a good record", but now they are jacking up things like property damage by $49 and Collision or upset by $45. On top of that, they want to start charging for the accident forgiveness at $66.  5-year replacement solution more than doubled from $40 to $98.
All in, my annual premium went from $1,184 to $1,415.

It's not bad even with the increase, but it's still frustrating when they jack up the premium like that for no good reason.

If you have renewed your auto insurance lately, did you have a significant increase for yours?

I'm going to shop around, for I doubt I'll find anything better unless I to some online-only companies. 

[rrocket]

What province?

[me_2]

My now former car insurer cie sent me a 17% renewals premium increase this spring before I bought Volt #3, no way to justify such price increase, so I started shopping and went somewhere else for less.

[carcrazed]

What province?

Ontario. I'm in Newmarket.

[rrocket]

What province?

Ontario. I'm in Newmarket.

Shocker.

Ontario...safest place to drive in NA....but some of the highest premiums in NA.

[carcrazed]

My now former car insurer cie sent me a 17% renewals premium increase this spring before I bought Volt #3, no way to justify such price increase, so I started shopping and went somewhere else for less.

Who did you end up going with? After a few quick quotes with intact and Desjardins, I'm too confident that I'll do much better going elsewhere.
I'm going to call up some brokers tomorrow and see if I can do better. 

[rrocket]

My now former car insurer cie sent me a 17% renewals premium increase this spring before I bought Volt #3, no way to justify such price increase, so I started shopping and went somewhere else for less.

Who did you end up going with? After a few quick quotes with intact and Desjardins, I'm too confident that I'll do much better going elsewhere.
I'm going to call up some brokers tomorrow and see if I can do better.

Check with your bank, too.

Most have car insurance these days.

[carcrazed]

What province?

Ontario. I'm in Newmarket.

Shocker.

Ontario...safest place to drive in NA....but some of the highest premiums in NA.

I know Ontario is the worst for auto insurance, but I don't think I had this kind of increase even after my dumb run-in with the parking lot column.

[carcrazed]

My now former car insurer cie sent me a 17% renewals premium increase this spring before I bought Volt #3, no way to justify such price increase, so I started shopping and went somewhere else for less.

Who did you end up going with? After a few quick quotes with intact and Desjardins, I'm too confident that I'll do much better going elsewhere.
I'm going to call up some brokers tomorrow and see if I can do better.

Check with your bank, too.

Most have car insurance these days.

Yeah I have done some online quotes with them before and they were much higher at the time.  I'll check them out in light of TDMM trying to get rid of me.

I'm going to call TD again tomorrow and talk to a supervisor who may be able to convince me about the increase.  I wonder if there was a market-wide increase recently?

[rrocket]

What province?

Ontario. I'm in Newmarket.

Shocker.

Ontario...safest place to drive in NA....but some of the highest premiums in NA.

I know Ontario is the worst for auto insurance, but I don't think I had this kind of increase even after my dumb run-in with the parking lot column.

Be sure to bring some of this along....

[carcrazed]

https://www.insurancehotline.com/resources/car-insurance-in-ontario-whats-happening-with-rates/

I guess this could be the reason why I'm getting the ben-dover treatment?

[me_2]

My now former car insurer cie sent me a 17% renewals premium increase this spring before I bought Volt #3, no way to justify such price increase, so I started shopping and went somewhere else for less.

Who did you end up going with? After a few quick quotes with intact and Desjardins, I'm too confident that I'll do much better going elsewhere.
I'm going to call up some brokers tomorrow and see if I can do better.

SSQ.
Brokers is a also good idea to check

[JacobBlack]

We're in what insurers call, "the hard market". Payouts have increased a lot, partly because of the rise in distracted driving, partly because cars are more expensive to repair, and partly because of the fundamental flaws in Ontario's medical system.
Fraud is an increasing concern too.
Because insurers are paying out too much, they don't want new business, so rates are increasing everywhere. Brokers are finding it hard to find better rates, because a lot of their direct relationships with insurers have been suspended. Insurers straight up don't want new business, so they're only posting high rates, to deter people coming onto their books. It's a bizarre situation.
It's also cyclical, and will be slightly better soon.

[Gurgie]

Try Sonnet, I switched over to them a couple years ago now, much better deal.

Sent from my SM-G970W using Tapatalk

[carcrazed]

Try Sonnet, I switched over to them a couple years ago now, much better deal.

Sent from my SM-G970W using Tapatalk

I have checked out their quote last year, but I got a higher quote than what I had at the time.
Honestly, I don't think I'll do too much better with others, but I just got frustrated with the lame excuse my last CSR gave me.  I will keep my calm next time I call TDMM and see what they can do.  I have been with them for 10 years and have my home insurance and the Civic's insurance with them, as well as a significant discount through a professional association (CPA Canada).

[carcrazed]

We're in what insurers call, "the hard market". Payouts have increased a lot, partly because of the rise in distracted driving, partly because cars are more expensive to repair, and partly because of the fundamental flaws in Ontario's medical system.
Fraud is an increasing concern too.
Because insurers are paying out too much, they don't want new business, so rates are increasing everywhere. Brokers are finding it hard to find better rates, because a lot of their direct relationships with insurers have been suspended. Insurers straight up don't want new business, so they're only posting high rates, to deter people coming onto their books. It's a bizarre situation.
It's also cyclical, and will be slightly better soon.

That's interesting, but make sense. I can see that with all the distracted drivers out there.  And modern cars with all the radars and sensors are getting more expensive to fix/replace.  Having said that, my Forester's autonomous emergency braking saved me from potential fender-benders a few times during my 11-month ownership.  That doesn't mean others can't hit me while driving out there in the GTA.

[rrocket]

We're in what insurers call, "the hard market". Payouts have increased a lot, partly because of the rise in distracted driving, partly because cars are more expensive to repair, and partly because of the fundamental flaws in Ontario's medical system.
Fraud is an increasing concern too.
Because insurers are paying out too much, they don't want new business, so rates are increasing everywhere. Brokers are finding it hard to find better rates, because a lot of their direct relationships with insurers have been suspended. Insurers straight up don't want new business, so they're only posting high rates, to deter people coming onto their books. It's a bizarre situation.
It's also cyclical, and will be slightly better soon.

That's interesting, but make sense. I can see that with all the distracted drivers out there.  And modern cars with all the radars and sensors are getting more expensive to fix/replace.  Having said that, my Forester's autonomous emergency braking saved me from potential fender-benders a few times during my 11-month ownership.  That doesn't mean others can't hit me while driving out there in the GTA.

It doesn't really make sense.

Statistically, Ontario is the safest region to drive in North America.  Which means fewer deaths.  Fewer accidents.  Fewer medical claims.

What Jacob repeating is the the insurance companies foist on people so they nod their head in agreement when premiums rise.

You can go and see that accidents have declined over the years...while profits have steadily gone up.  Oh..and don't forget that not only have our premiums gone up, but our medical coverages have gone down.  So we're continually paying more...for less.

https://www.insauga.com/are-car-insurance-companies-in-ontario-ripping-us-off

[carcrazed]

We're in what insurers call, "the hard market". Payouts have increased a lot, partly because of the rise in distracted driving, partly because cars are more expensive to repair, and partly because of the fundamental flaws in Ontario's medical system.
Fraud is an increasing concern too.
Because insurers are paying out too much, they don't want new business, so rates are increasing everywhere. Brokers are finding it hard to find better rates, because a lot of their direct relationships with insurers have been suspended. Insurers straight up don't want new business, so they're only posting high rates, to deter people coming onto their books. It's a bizarre situation.
It's also cyclical, and will be slightly better soon.

That's interesting, but make sense. I can see that with all the distracted drivers out there.  And modern cars with all the radars and sensors are getting more expensive to fix/replace.  Having said that, my Forester's autonomous emergency braking saved me from potential fender-benders a few times during my 11-month ownership.  That doesn't mean others can't hit me while driving out there in the GTA.

It doesn't really make sense.

Statistically, Ontario is the safest region to drive in North America.  Which means fewer deaths.  Fewer accidents.  Fewer medical claims.

What Jacob repeating is the the insurance companies foist on people so they nod their head in agreement when premiums rise.

https://www.insauga.com/are-car-insurance-companies-in-ontario-ripping-us-off

When I see daily accidents all over the GTA on Google maps, I feel like Ontario isn't the safest region to drive.  Perhaps it's relative to the number of cars & drivers out there?  Deadly accidents are on the local news every day, not to mention countless fender-benders.  Because of all the congestion caused by all these small accidents during rush hour, it's hard to have accidents going 20km/h on the highway.

It makes me think maybe I should consider the usage-based insurance thing, but I'm not going to go there just yet.
$118/month isn't terrible, but I hate the principle of paying more for the same thing, and the fact that they offered accident forgiveness for free for two years and then started charge for it without telling me in the cover letter.  I had to look in the details to find that out. 

[rrocket]

We're in what insurers call, "the hard market". Payouts have increased a lot, partly because of the rise in distracted driving, partly because cars are more expensive to repair, and partly because of the fundamental flaws in Ontario's medical system.
Fraud is an increasing concern too.
Because insurers are paying out too much, they don't want new business, so rates are increasing everywhere. Brokers are finding it hard to find better rates, because a lot of their direct relationships with insurers have been suspended. Insurers straight up don't want new business, so they're only posting high rates, to deter people coming onto their books. It's a bizarre situation.
It's also cyclical, and will be slightly better soon.

That's interesting, but make sense. I can see that with all the distracted drivers out there.  And modern cars with all the radars and sensors are getting more expensive to fix/replace.  Having said that, my Forester's autonomous emergency braking saved me from potential fender-benders a few times during my 11-month ownership.  That doesn't mean others can't hit me while driving out there in the GTA.

It doesn't really make sense.

Statistically, Ontario is the safest region to drive in North America.  Which means fewer deaths.  Fewer accidents.  Fewer medical claims.

What Jacob repeating is the the insurance companies foist on people so they nod their head in agreement when premiums rise.

https://www.insauga.com/are-car-insurance-companies-in-ontario-ripping-us-off

When I see daily accidents all over the GTA on Google maps, I feel like Ontario isn't the safest region to drive.  Perhaps it's relative to the number of cars & drivers out there?  Deadly accidents are on the local news every day, not to mention countless fender-benders.  Because of all the congestion caused by all these small accidents during rush hour, it's hard to have accidents going 20km/h on the highway.

It makes me think maybe I should consider the usage-based insurance thing, but I'm not going to go there just yet.
$118/month isn't terrible, but I hate the principle of paying more for the same thing, and the fact that they offered accident forgiveness for free for two years and then started charge for it without telling me in the cover letter.  I had to look in the details to find that out.

Is the safest jurisdiction in North America.  In Ontario, about 35K accidents that resulted in significant injury or death.  ~500 deaths yearly.  Pennsylvania, with a similar population (but about ~2 million fewer people) had 128K accidents that resulted in injury or death. ~1200 deaths yearly.  A pretty staggering difference.

Also...it seems Toronto is among the safest places to drive in Ontario.  https://www.insauga.com/heres-where-mississauga-ranks-on-the-list-of-safest-and-most-dangerous-driving-cities

[Brig]

It makes me think maybe I should consider the usage-based insurance thing, but I'm not going to go there just yet.
$118/month isn't terrible, but I hate the principle of paying more for the same thing, and the fact that they offered accident forgiveness for free for two years and then started charge for it without telling me in the cover letter.  I had to look in the details to find that out.

If you're a CAA member, it might be worth checking with them as well.  I switched over about 5 years ago.