Car Insurance

[ken0042]

Originally Posted by mykalberta

They said statistics indicate that if you dont own it, you wont treat it as good as something you owned.

I was considering leasing a vehicle last year and this prompted me to stay with my current vehicle until I can afford to purchase what I want. And I want to put at least 1/2 down so I need 15k saved.

I was also under the impression that part of the reason insurance on a leased car is higher is it has to have a higher insured value. Meaning the dealer isn't going to settle for blue book value- they are going to want whatever the purchase price of the car was minus whatever had been "used." So if you write off a $30,000 car after 6 months; the dealer still needs to get it's $29K back.

[GoinAllTheWay]

@ Russic - That's really and odd situation. One that could easily have been cleared up by a claims experience letter and drivers abstarct, both of which could have been delivered to your fax number of choice within 5 mins. Alberta insurers (brokers in particular) cant get your information outside of Alberta. Anyone coming in from any other province or country needs to bring both of the above to prove their history. Not sure why the person you were speaking to didn't bring that up but all Canadian history is accepted on par.

mykalberta - 100% untrue. I've seen the exact same rates on the same car regardless or leasing/financing. It makes no difference.

I do find it hard to understand sometime why new drivers are expecting the best rate right off the get go. It's not likely that a bank is going to give you the best possible interest rate to someone who has no history, why would it be any different for car insurance? Now while I do agree that some folks get charge waaaay to much, I think more people need to live within their means at the same time. A new driver driving a new car would have to naturaly expect to pay a higher rate than an older, more experienced driver insuring the same car.

I may be getting a tad olf fashioned here but I really don't get why someone so young would be dumping so much money into a brand new car. Sure it's nice to have a flashy new car when you are in your teens but why spend so much on a depreciating asset when that money could be put to far better use getting yourself set up to buy a house or something.

[FlamesKickAss]

Just looked at the rate groups for that vehicle and it is pretty high. And you are probably on the alberta grid system so price should be the same where ever you go. I estimated around the same price as you are paying.

What company are you with?

Cheaper cars are usually more expensive that what they should be because that is what the younger people drive and get more claims in and thats how they base the rategroups. You would pay more if you were driving a 4 door cobalt not much more but more and I'm not talking about the SS version either.

[FlamesKickAss]

Originally Posted by fotze

I had the exact situation as Russic and have heard the same thing countless times. No way do they offer up that a copy of another regions drivers abstract is an option.

depends on where you go I guess, the company I work for requires all that information eventually anyways. BC is great to deal with in that regarsd too. A quick call to the 800 number and 5 minutes later you have a fax or an email

[Coach]

Thanks for all the help guys. I just finished switching to Meloche and Monnex and am saving over $150/mth. Its still ridiculous that im spending more to insure my car than I am to actually have it but that money will go a long way! I have always been of the opinion that having something that is a necessity (insurance) being sold by private companies just screams rip-off. Insurance is something I really think needs to be government run.

[ben voyonsdonc]

Saving $1800 a year is nothing to complain about!

[Old Yeller]

Originally Posted by MattyC

I have always been of the opinion that having something that is a necessity (insurance) being sold by private companies just screams rip-off. Insurance is something I really think needs to be government run.

"So you were in an accident were you? Please fill out these 7 forms in triplicate and someone will be with you in about 5 months"

[GoinAllTheWay]

Weird, after reading how cheap Meloche is, I did a quote for myself just to see how good they are. The quoted me a rate higher than I'm paying right now.

[FlamesKickAss]

Originally Posted by MattyC

Thanks for all the help guys. I just finished switching to Meloche and Monnex and am saving over $150/mth. Its still ridiculous that im spending more to insure my car than I am to actually have it but that money will go a long way! I have always been of the opinion that having something that is a necessity (insurance) being sold by private companies just screams rip-off. Insurance is something I really think needs to be government run.

its government regulated. I have seen BC rates that are higher than here.

[Phaneuf3]

Originally Posted by MattyC

I have always been of the opinion that having something that is a necessity (insurance) being sold by private companies just screams rip-off.

Where does the line get drawn?
I would consider food a necessity - should the government take care off all that too?

[FlamesKickAss]

Originally Posted by GoinAllTheWay

Weird, after reading how cheap Meloche is, I did a quote for myself just to see how good they are. The quoted me a rate higher than I'm paying right now.

Mine is pretty much identical and then when you take of my staff discount meloche is 20 dollars per month more.

[chummer]

I pay $850/year for my Venza through Canadian Direct.

I got a quote from Meloche Monnex for the same coverage and it was $1250.

Still haven't found anyone to beat Canadian Direct.

[cal_guy]

Try this site

http://www.kanetix.ca/auto-insurance

[Nuje]

Originally Posted by mykalberta

How is Meloche to deal with claims?

Therein lies the rub. I have a friend who had to file a claim with Meloche, and apparently it was a legitimate nightmare to take care of. The only time I ever filed a claim, I made one phone call, and then I just got called a few times, had to sit down with an adjustor, and that's it.

[Dynamic]

ING insurance is the worst. I was down to 240 a month for my 05 civic after a couple years of no claims though I had a couple minor speeding tickets. I then was in an at fault accident. When it came up for renewal the year after I got a quote saying I would be paying almost 800 dollars a month!!

I think I actually heard from td insurance here so I switched and was then paying only 400 a month, which still was alot for me. In the meantime I got married and paid my car off. I then took it off full coverage since it has such high kms anyways. So now me and the wifey paying only 255 a month with 3 vehicles. Get married.

[Agamemnon]

I've done both a car and home insurance claim with Meloche Monnex within the last 12 months, both went perfectly and without a hitch.

[csnarpy]

Monnex has been nothing but the best for me. Had my car vandalized from an attempted break in, both doors and hood damage. One call and they had me in an autobody shop in 2 days. I had an adjuster call for a follow up but that's it. Insurance not effected either.

[Barnes]

I pay $1590 with ING for an '06 Liberty and a '94 Grand Cherokee for both me and my wife. I don't think they know we are married and the Grand Cherokee is in storage. I should call them up.

[redforever]

I think hitting a deer, vandalism etc gets covered by the comprehensive portion of your insurance and that is why your insurance premium in the future should not be affected.

[lucky1]

I get my insurance thru meloche as well......There are so many discounts like multi-vehicle, not being used for work, house insurance coverage, no drivers under the age of 20 etc etc....it just drives the price right down.
I have insured a few brand new cars thru them, I like that they also insure the depreciation value as well....if you write the car off within 2 (or 3, cant remember exactly) years, they will cut you a cheque for the original amount or step you into the same car (but brand new).
When I changed the insurance last month, they told me that they are now charging some small amount ($25.00/year) for accident forgiveness. This used to be free, up to a certain amount, but for 25 bux, if you get into an accident and it is your fault....any $$$ amount, it will not reflect into your premiums.....you essentially buy a 'gimme' for the price of a case of beer!!
By dealing with MM, makes you wonder if they can do it, why cant the other insurance companies offer such good service at a great price??