Sky High Insurance - Calgarypuck Forums - The Unofficial Calgary Flames Fan Community

Dynamic · 07-23-2008, 01:33 PM

So..........I got my insurance renewal form today and I opened it to quite a surprise. First off I'll let everybody know I'm not looking for sympathy, just advice on what to do. I know everything was my fault but I can't change that now.

Anyways I'm 22 now and I bought a new 05 Civic almost 3 years ago and I asked around and the cheapest insurance I could find was 300 bucks a month. That was for full coverage as thats what you need when you finance a new car. I decided that I just had to start out high and that was that. Next year came along with no tickets and accidents and woolaa..........240 and month. I was a pretty happy dude seeing that they lowered it for me so fast.

Fast forward a year. Not so good. Two minor speeding tickets (both 10 over) and one at fault fender bender. I kinda figured my rates would be back up to what they are the first year, maybe a bit more. I was dreading opening renewal but I wasn't expecting this. 791 a month for a total premium of 8701.68.

I'm not an insurance expert but isn't that uhhhh, extreme? Thats mortgage payment. I obviously can't afford this and my agent is looking into it right now. I need my car to get to work as I drive 180kms a day. I'm thinking of getting a loan to pay my car off completely and just keep bare bones insurance but that might even be to high. Or just move to bc.

Thoughts?

mac_gurl · 07-23-2008, 01:38 PM

check other companies... that seems way to high.

Cowboy89 · 07-23-2008, 01:38 PM

If I were you I'd sell your car and buy a POS and keep basic coverage. Since you were in an at fault fender-bender, I'm guessing that well over 50% of your premium is for collision. So you'll still be paying more and you'll be driving a POS, but at least it would be affordable.

4X4 · 07-23-2008, 01:39 PM

Meloche Monnex. They're the best for insurance. Get a quote from them.

Fobulous · 07-23-2008, 01:44 PM

+1 for Meloche Monnex.

They are definitely one of the best insurance companies out there.

Cowboy89 · 07-23-2008, 01:47 PM

+2 for Meloche Monnex

ken0042 · 07-23-2008, 01:48 PM

Quote:

Originally Posted by Dynamic

and one at fault fender bender.

Did you receive a ticket for that one too? ie something like undue care and attention?

If you didn't, you might want to look at buying out the claim. I've never had to do it, but I seem to recall that you can pay back the insurance company and have the accident taken off your record.

Dynamic · 07-23-2008, 01:55 PM

Quote:

Originally Posted by ken0042

Did you receive a ticket for that one too? ie something like undue care and attention?

If you didn't, you might want to look at buying out the claim. I've never had to do it, but I seem to recall that you can pay back the insurance company and have the accident taken off your record.

Nope no ticket there was out in the boonies. Hrmmm I could look into that though. I'm sure mine was something around 2500 and the other party was about 1700. I just don't wanna sell my baby I love that car.

So ya that would of been well over 50% of my premium for whoever asked.

Kerplunk · 07-23-2008, 02:07 PM

Check both Meloche Monnex and TD Insurance. Monnex gives lower rates when you don't have anything on your record, so TD Insurance might give better rates. I switched from Monnex when they boosted my insurance $100 because of where I parked.

Ozy_Flame · 07-23-2008, 02:15 PM

RBC was infinitely lower than any other price. I pay $50 per month on my '97 Mazda 626, and I'm 25. I even had an at-fault fender bender last year, and my insurance went DOWN.

Look around for sure. Think of insurance shopping like plane tickets; the rates are going to vary based on the carrier, and some are a helluva lot lower than others.

fredr123 · 07-23-2008, 02:16 PM

I think it has something to do with people scamming big payments for fake whiplash injuries. The government should do something about that.

guzzy · 07-23-2008, 03:02 PM

NO that seems to be about right. As soon as you have a claim it can increase that much. The demerits from speeding tickets are the same for 10 over as they are for 25 over. The insurance company only sees the demerits. You can shop it around but I doubt you will get back down to the $300 mark for at least 3 years.

I do wish you luck though.

Cheers

The Yen Man · 07-23-2008, 03:08 PM

+3 for TD Meloche Monex.

They also have what they call a "forgiveness program" where if you're in 1 at fault accident, you pay the 5th year rate for the next 6 years. That way, instead of paying a crapload in the 1st year after your accident and having that gradually go down back to the lowest level in 6 years time, you pay the 5th year rate for all 6 years. I know it made a lot of difference for me.

Ruttiger · 07-23-2008, 03:14 PM

I've always found Canadian Direct to be the lowest of any provider any time I've looked around. And that's including a preferred rate offered through TD Meloche Monnex through my employer.

GoinAllTheWay · 07-23-2008, 03:15 PM

Quote:

Originally Posted by guzzy

The insurance company only sees the demerits.

Not quite right, insureres don't care about demerits. They only indicate how close you are to getting your licence suspended due to mulitple tickets. Insurers only care if you got a ticket or not.

kootenayguy9 · 07-23-2008, 03:33 PM

+ 4 for Meloche Monnex. I pay $1600 a year for TWO vehicles. Relatives back in BC still can't believe how little I pay for car insurance.

Russic · 07-23-2008, 04:17 PM

+5 for the monnex. When my wife and I bought a car we realized that she had never been a principle on anything (just a secondary driver in BC when she was in her teens, and then never owned a car in university). I had always driven but when she changed jobs suddenly we needed her as a primary driver on the car with me. Basically there was zero record of her driving history which sent our rates through the roof. We went from $1000 per year to almost $2500 overnight. Everywhere I called was more or less $200 from that. I called Melloche Monnex and they quoted me $1100. When I asked the lady to do the calculations again she asked me "are we a little lower than other places sir?" I just laughed. Now I run EVERYTHING through them.

Bertuzzied · 07-23-2008, 04:22 PM

+6 for Meloche.

However you have to be in a group plan to qualify. If you are a U of C alumni you are qualified.

They actually called me back when i was 21 and just graduated out of university. At first i thought it was those lame-0 telemarketers but after 15 minutes they saved me over $1500/year. They are better then Geico! haha

burn_this_city · 07-23-2008, 05:04 PM

+7 for Monnex.. I pay a princely sum of $169/month for a 2007 GMC Diesel Truck full coverage.. They just don't know its juiced up a bit, otherwise it'd be atleast double.

Note.. I have 0 demerits and 0 at fault accidents in 8 years of driving.. I'm only 24 and apparently it should drop more when Im 25

Jebus · 07-23-2008, 05:04 PM

I was a MM customer for over ten years without so much as a speeding ticket. Got in one incident that was eventually deemed no-fault last year.
The customer service I received was so incredibly horrible that I have switched to Canadian Direct.

I have spoken to other MM customers and they all had good track records, but my experience was just so poor I couldn't fathom giving them more business. I pulled my house insurance as well.