Everyone's Car Insurance going up by 5% in Nov. - Calgarypuck Forums - The Unofficial Calgary Flames Fan Community

Bertuzzied · 07-31-2008, 11:48 AM

http://www.canada.com/calgaryherald/...3-047bf23ba3b9

Ugh. I hate all those scammers that fake an injury.

A court ruling in February struck down the Alberta government's $4,000 compensation cap for minor soft-tissue injuries, such as whiplash, suffered in traffic crashes. The Insurance Bureau of Canada had proposed a 37 per cent jump in premiums to cover the industry's expected rise in costs.

Bob · 07-31-2008, 11:51 AM

Asinine.

FlamesKickAss · 07-31-2008, 12:08 PM

5% is like 4 dollars per month on every thousand dollars af premium. It isn't that big of a deal if you are a good driver.

Traditional_Ale · 07-31-2008, 12:10 PM

Quote:

Originally Posted by FlamesKickAss

5% is like 4 dollars per month on every thousand dollars af premium. It isn't that big of a deal if you are a good driver.

Man I love riding a bicycle.

troutman · 07-31-2008, 12:59 PM

Quote:

Originally Posted by Bertuzzied

http://www.canada.com/calgaryherald/...3-047bf23ba3b9

Ugh. I hate all those scammers that fake an injury.

I hate all those insurance companies that lie about profits.

burn_this_city · 07-31-2008, 01:00 PM

Quote:

Originally Posted by troutman

I hate all those insurance companies that lie about profits.

Its the lawyers fault!!! ATTACK!!!

troutman · 07-31-2008, 01:03 PM

Actually, the lawyers demonstrated that rates could go down 2% (even with no cap on minor injuries) and the insurance companies would still be making a good profit.

5% isn't too bad - they wanted 37%!

Scrambler · 07-31-2008, 01:04 PM

Quote:

Originally Posted by Traditional_Ale

Man I love riding a bicycle.

Ditto! Free gas and free insurance... total savings probably $3500/year!

ken0042 · 07-31-2008, 01:05 PM

I can live with the 5%.

As I've said in the past threads, I have insurance to pay me out in case something bad happens- not just in certain types of accidents. Cover me 100%, and tell me how much that costs. Just add the 5% to my bill.

Now I think the next step is to make the penalty for false claims a lot more severe.

troutman · 07-31-2008, 01:21 PM

Quote:

Originally Posted by fotze

So the court struck down this ruling but have they actually seen any judgements against them causing them to lose money yet?

Why did this need to be regulated anyway, I didn't see a drop in premiums but I did somehow give up my right to sue for > $4,000.

Most cases under the cap are in limbo while the government awaits the appeal in September.

They weren't losing $ before the cap - in fact the industry at one point said they did not want a cap, but the government put it through anyway.

onetwo_threefour · 07-31-2008, 01:34 PM

Quote:

Originally Posted by troutman

Most cases under the cap are in limbo while the government awaits the appeal in September.

They weren't losing $ before the cap - in fact the industry at one point said they did not want a cap, but the government put it through anyway.

I'm glad I stopped taking them on when the cap came down. I hate PI cases anyway, but that made it a no-brainer. especially usng the WAD criteria which are of dubious validity.

Bagor · 07-31-2008, 01:36 PM

Quote:

Originally Posted by Bertuzzied

Ugh. I hate all those scammers that fake an injury.

Quote from my father.

More miracles have happened outside the claims courts than Lourdes and Fatima combined.

onetwo_threefour · 07-31-2008, 01:36 PM

Quote:

Originally Posted by troutman

Most cases under the cap are in limbo while the government awaits the appeal in September.

They weren't losing $ before the cap - in fact the industry at one point said they did not want a cap, but the government put it through anyway.

I don't recall that, but if they did, it was probably just a self-serving statement to try and make them look a bit better. It certainly would be off-message given the advertising campaign that was in place to make the lawyers look like the problem with the system.

troutman · 07-31-2008, 01:50 PM

Lots of info dug up here by fred123r and others . . .

http://forum.calgarypuck.com/showthr...=breaking+news

FlamesKickAss · 07-31-2008, 02:53 PM

Quote:

Originally Posted by troutman

They weren't losing $ before the cap - in fact the industry at one point said they did not want a cap, but the government put it through anyway.

I'm sure they only said that because with a cap came a cap on premiums

Sylvanfan · 07-31-2008, 03:52 PM

5%, thats pretty much the rate of inflation these days. God forbid inflation in an economy! I wish the cost of everything was only going up 5% these days.

You Need a Thneed · 07-31-2008, 04:11 PM

Quote:

Originally Posted by Scrambler

Ditto! Free gas and free insurance... total savings probably $3500/year!

Insurance on a bike is a lot less then a car, but it certainly isn't free. Bikes are actually one of the most expensive common things to insure, based on premium per dollar of value of the bike.

FlamesKickAss · 07-31-2008, 04:25 PM

Quote:

Originally Posted by You Need a Thneed

Insurance on a bike is a lot less then a car, but it certainly isn't free. Bikes are actually one of the most expensive common things to insure, based on premium per dollar of value of the bike.

who buys insurance on a bike though? unless it is a sweet bike, then you add it to your home insurance.

mykalberta · 07-31-2008, 04:26 PM

I only pay 1200$ a year for a 2002 vehicle full coverage so it goes up by 60 bucks, so be it.

You Need a Thneed · 07-31-2008, 04:38 PM

Quote:

Originally Posted by FlamesKickAss

who buys insurance on a bike though? unless it is a sweet bike, then you add it to your home insurance.

If you had a bike worth more than 1000 bucks or so, insurance is probobly worth it. I used to have insurance on my bike. $50 a year for $1000 value. Through my (very cheap) home mutual insurance company.

Yes, it's not mandatory, like on a car.