Supra90T

On CTV news the other day, it was talking about this latest bit of information for insurance...ING's profits rose 600% quarterly and total revenue's are forecasted to top 1 billion annually. Other companies are expected to follow the announcement with similar results/forecasts...If EVERYBODY just stopped having insurance altogether, it would be a reality check for them but since morons don't know how to drive here nobody will open themselves up to that risk...Hell, in NYC they don't pay even half as much as us and it is BAD driving there

ivperformance

I think insurance is a good idea, but what it became over the years is complete bullshit, The whole point of insurance was so that we can depend on them if something happens, but we cant since they are going to us over later on, my family paid for a 3 thousand dollar repair on a hit and run because we didnt want our insurance to find out, and rise for the next 5 years, even if its by 100$ a month(if we are lucky) we will end up paying 5 thousand later on.

Every little ticket will get you ed, doesnt matter what kind of ticket too, speeding, careless, or burnt out lightbulb.

Why the does your insurance rise when you get in an accident and its not your fault ? youve paid insurance all those years so that money is used in this accident, not for the pretty pink paper.

General

i want to sign up with that SOLO insurnace deal thats going on... I read about it in anyother thread and they are working on find 5000 ppl to sign up.. or at least give interest.

THis insurnace policy would covere anything that you have modded... as long as its appriased properly

1cam8valves

Most regular ins. companies ALREADY DO THIS! It would be nice for that company to exist but bad drivers are bad drivers and should have higher premiums, unfortunetely we pay for their losses.

Supra90T

No, most insurance companies do not already do this...And if they do, you can't afford it

yourmama

They're looking to cover street-legal modified cars. They're not looking to cover bad drivers.

If you have more than two minor tickets on your record or more than one accident, you won't get in. Even the person who did all the organizing work behind that insurance isn't eligible to be covered under the group policy.

yourmama

If the accident is not your fault, the insurance companies can't raise your rates for that accident. That's Ontario law. But just because you're not charged for an accident doesn't mean that you are not at fault whether in part or 100%. Fault for a crash is determined by Ontario government fault determination rules, not just by whether or not you were charged as a result of the accident.

I've claimed for crash damage from TWO hit-and-runs in the last five years, $3000 damage for one and $10,000 for the other. In one case my car was parked, and in another I was hit while driving down the road. My rates didn't go up, and I pay no surcharges. In fact, they actually dropped by about 15% in the last two years and I'm looking forward to more cuts on my next renewal.

If you're on a full G license, you're allowed at least one and with most insurance companies two minor tickets in any given three year period. If you're running a G1 or G2, then yes, one ticket can result in surcharges. But a person driving on a learner's permit should be out learning how to drive properly and not learning driving habits that attract traffic tickets.

By the way, a burned out light bulb doesn't result in insurance hikes. That's a minor equipment violation. Insurance hikes result from moving violations.

The biggest reason that you have auto insurance isn't to fix your car. It's to provide medical care, therapy, loss-of-income protection and death benefits for you and others in your car when your driving fails to measure up to your self-perception of skill. Just one year of disability payment, medical care and therapy will far eclipse anything that even the most highly-surcharged person here would pay out in many many years of paying for insurance.

ivperformance

Youre right, thats the idea of insurance.
I dont know which company you are at, but I want to go there too.
if they are not slimebags, and what you are saying is correct then I would only end up with one ticket that the insurance will look at, operate motor vehicle without, because all the other ones are not related, exessive noise, improper muffler, register, all those dont relate to a moving vehicle and I could of gotten them standing...

But you know thats not going to be the case. Look I have no claims on my record, in fact the only ticket where i was endengaring anyones safety was an 86 in a 60 km/hr at 3 am with nobody on the road but the cop(year ago).
But im still going to get ed with insurance by tickets that dont reflect my driving habits.

Insurance just needs a reason to raise the premiums, and the only reason its relativley cheap on clean is because the starting rates are still somewhat goverment regulated, as soon as there is any reason you are ed.

yourmama

All rates are government regulated, including surcharges for poor driving records. They all have to approved by the government.

Unnecessary noise is a moving violation.

And what's "operate motor vehicle without"?

Supramanz

Im with liberty mutual. I was paying 240/m on my 89 turbo Supra. My car was recently stolen and had alot of obvious modding. They said nothing about that and settled quick and with a good fair price. They are very nice to talk to over the phone too. an A++ company for us.

They are now part of TD Insurance. Still seem good though

ivperformance

without insurance, you remember the thread.... it whatever, im ed either way i dont want to talk about it, im out.

yourmama

Driving without insurance is a minimum 100% surcharge for the next 5 to 7 years. Those surcharges will help your insurance company cover the payouts they have to make because of damages caused by OTHER uninsured drivers.

You suggest that the driving without insurance does not reflect on your driving habits, but it does reflect on your ability to make good judgements, and that in turn is also a known factor in assessing the risk factor of a driver.

ivperformance

Why dont they ask about gambling habits, drunking habits, criminal record check, all those effect driving habits, If insurance would really want to know about your judgement and not increase premiums to make money they would want to find out details about the incident, If you are speeding because your friend broke his head and if you are speeding because you want to show off in front of your girl should be treated completley different.

Same with my ticket, an intersection drive through sidestreets should give me a 50% surcharge for example than a speeder without insurance in the middle of yonge street.

you understand where im coming from, and if you think about it, they have the manpower to do this, because they have a broker there always available to give you estimates they can have somebody there getting your disclosure and reading it over.

MaGaS

SoloCanda is coming out with a private insurance company that will insure your MODIFIED car with any AGE/LICENCE CLASS (g1/g2) STARTING $1500/year if you have a clean record. there is a post in there which explains everything and allows you to ask questions - this is hard to believe but tru, also its FULL coverage the only thing they dont cover is death but im sure that most of us arent even thinking of that!!!

well they need 5000 "forms" (no tie-downs just a few questions; name/type of car) to show that there are people interested and they will be able to get policies. they are at around 3000 right now i believe we should all do this (i already have) im sure everyone on this site will get a better quote at them then any other company in ON no matter what you record is

http://www.solocanada.ca/ is there website the first page has a "big red button" that will get you to the "form" page.

yourmama

In the US, some insurance companies take your credit rating into account when evaluating your risk. The theory is that someone financially strained will 1) be under greater stress when driving raising the risk of accident and subsequent claims payout, or 2) be more likely to commit insurance fraud to gain relief from financial pressures, thus increasing the risk of subsequent insurance payouts.

Criminal record involving driving behaviour does count in insurance rates - imapired, over 80, dangerous operations of a motor vehicle, criminal negligence, etc.

If you are speeding because your friend broke his head, the cop may end up just escorting you to the hospital and then later, after maybe or maybe not giving you a ticket, the cop will tell you off and suggest you call 911 next time. Still, even if you do get a ticket, how many times is that (friend's broken head) likely to happen? Most insurance companies give you one or two ticket freebies.

But if you regularly get tickets, what does it matter what your excuse is each time? There is a direct statistical correlation between ticket infractions and risk of accident. As a result, number of tickets is a measure of risk.

The insurance companies will not send out someone to investigate each and every ticket charge or each and every accident and the reasons behind it. To do so they would have to increase their manpower by many times, and you know who will pay for that added expense. And in most cases, it won't make a lick of difference.

So instead, we get categorized into broad groups by age, vehicle type, place of residence, number of minor, major and severe tickets, and license suspensions. You can't do much about age or place of residence, but the greatest single effect on your rates in the long term are the choices you make as to what kind of car you drive and how you drive it.