Hello!
Yesterday i was speaking to my software engineering friend staying in New Jersy and i was shocked to hear that he was paying US$ 500 for 6 months for his insurance (and he had a $1300 claim and that is why the high rate- he says).
I pay $235 per month for my car insurance in Ontario (TD).
Why is Canada / Ontario like this? Is this b'cos of the low car population here or is it just b'cos the insurance companies are trying to fleece us?
Also i would like to know some ways on how to save on insurance (for eg.- Cancel your insurance on sat. and sunday if you are not going out and then re join on monday and ideas like this).
This will help CD members to atleast prevent the insurance co. from fleecing us.
TK
Sidenote : A more practical solution would be like if you are on travel to india for a month to switch your insurance to just protection against theft and scratches. This can save you a $100 or so off from your monthly premium

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I am a Gents and not a Ladies.

Here is an interesting website I found:

http://www.autoinsurancetips.com/

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Hi there,

I was thinking the same, especially after I moved from US, where I was paying significantly less. Problem is muti-fold. The required minium Property Liability coverage here is 1 million while in US it is usually 100k/300k.

Plus, Toronto being a city of immigrants from all over the world, there is rampant fraud here. People set things up to be hit or in a accident with someone they know, to then get a payout from the insurance company. Consequently that cost is then spread to all others insured by the company. Look at the number of Injury/Accident lawyer advts. on desi TV channels and you get the idea.

Till recently I was with StateFarm and will be switching soon. Statefarm was the only one to recognize my US driving record of last few years, while most of the Canadian companies were not and hence not giving the proper discount. Each insurance company specializes in insuring a person of certain profile. So the trick is in talking to several of them till you find the one that wants to work with a profile like yours. Brokers seem to be the way to go in Ontario, while I have not found one so far.
I recently got quotes from a company called johnson.ca and they beat Statefarm. They are a company specializing in insuring people that they carefully look at to see that they traditionally will have lower claims. Check with your employer, they might deal with some insurance company that will give you preferential treatment.

Quote:

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Originally posted by tamilkuravan

Hello!
Yesterday i was speaking to my software engineering friend staying in New Jersy and i was shocked to hear that he was paying US$ 500 for 6 months for his insurance (and he had a $1300 claim and that is why the high rate- he says).
I pay $235 per month for my car insurance in Ontario (TD).
Why is Canada / Ontario like this? Is this b'cos of the low car population here or is it just b'cos the insurance companies are trying to fleece us?
Also i would like to know some ways on how to save on insurance (for eg.- Cancel your insurance on sat. and sunday if you are not going out and then re join on monday and ideas like this).
This will help CD members to atleast prevent the insurance co. from fleecing us.
TK
Sidenote : A more practical solution would be like if you are on travel to india for a month to switch your insurance to just protection against theft and scratches. This can save you a $100 or so off from your monthly premium

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Johnson has the lowest rates among car insurance companies in Canada. The only problem is that they have rigid criteria such as G license and car insurance record for three years

johnson.ca is good I heard
check out pcinsurance.ca
you can also check insurancehotline.com
there is kanetix.ca

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I was thinking the same, especially after I moved from US, where I was paying significantly less. Problem is muti-fold. The required minium Property Liability coverage here is 1 million while in US it is usually 100k/300k.

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minimum liability coverage in ONT is $200,000.00 but I am not sure if it is good enough ( actually I dont understand what is its use --- may be somebody can educate us )

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Sidenote : A more practical solution would be like if you are on travel to india for a month to switch your insurance to just protection against theft and scratch
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you have to have it minimum for 45 days continuous to get any benefit as I talked this with my agent last year ...

Cheers

To reduce the insurance amount two persons i know......went through broker and got membership in some asociation and then got auto insurance through td and the difference was a good over 100 dollars from WHAT TD had quoted earlier per month from 285 $ to 165$ .
I believe if any one of the members makes a claimthen the rate will go up worth looking into
I have insurance through BELAIR which was the lowest quote i got at the time will look for details through this membership before renewal comes due..
Anyone has more details on this ..please do post it.

Quote:

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Originally posted by blabber

johnson.ca is good I heard
check out pcinsurance.ca
you can also check insurancehotline.com
there is kanetix.ca

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I was thinking the same, especially after I moved from US, where I was paying significantly less. Problem is muti-fold. The required minium Property Liability coverage here is 1 million while in US it is usually 100k/300k.

--------------------------------

minimum liability coverage in ONT is $200,000.00 but I am not sure if it is good enough ( actually I dont understand what is its use --- may be somebody can educate us )

--------------------
Sidenote : A more practical solution would be like if you are on travel to india for a month to switch your insurance to just protection against theft and scratch
-----------------------------

you have to have it minimum for 45 days continuous to get any benefit as I talked this with my agent last year ...

Cheers

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