Calgarypuck Forums - The Unofficial Calgary Flames Fan Community
Old 04-26-2019, 01:20 PM   #1
MoneyGuy
Franchise Player
 
MoneyGuy's Avatar
 
Join Date: May 2006
Exp:
Default Auto insurance

A friend has asked for a referral for car insurance. His rates have gone up a lot. He’s with TD. Other than advising him to use a broker what other advice do folks have? I know rates everywhere have skyrocketed so maybe he’s SOL.
MoneyGuy is offline   Reply With Quote
Old 04-26-2019, 01:39 PM   #2
Hanni
First Line Centre
 
Hanni's Avatar
 
Join Date: Apr 2009
Exp:
Default

Also shop quotes from different brokers, last time I did mine different brokers had different rates for the same companies.
Hanni is offline   Reply With Quote
Old 04-26-2019, 02:50 PM   #3
GordonBlue
Franchise Player
 
GordonBlue's Avatar
 
Join Date: Dec 2016
Location: Alberta
Exp:
Default

Quote:
Originally Posted by MoneyGuy View Post
A friend has asked for a referral for car insurance. His rates have gone up a lot. He’s with TD. Other than advising him to use a broker what other advice do folks have? I know rates everywhere have skyrocketed so maybe he’s SOL.
one thing that might help is bundling insurance if he's a home owner.
many places give a greater discount if you combine home and vehicle insurance.
GordonBlue is offline   Reply With Quote
Old 04-26-2019, 02:57 PM   #4
FlamingHomer
Powerplay Quarterback
 
FlamingHomer's Avatar
 
Join Date: Jul 2008
Location: Republic of Panama
Exp:
Default

Start with kanetix.ca

I saved a ton by using this service for most of my insurance needs.

Sent from my MHA-L29 using Tapatalk
__________________
Talk is cheap because supply exceeds demand.
FlamingHomer is offline   Reply With Quote
The Following 3 Users Say Thank You to FlamingHomer For This Useful Post:
Old 04-26-2019, 04:24 PM   #5
bizaro86
Franchise Player
 
bizaro86's Avatar
 
Join Date: Sep 2008
Exp:
Default

Quote:
Originally Posted by MoneyGuy View Post
A friend has asked for a referral for car insurance. His rates have gone up a lot. He’s with TD. Other than advising him to use a broker what other advice do folks have? I know rates everywhere have skyrocketed so maybe he’s SOL.
Every car insurance company will give you a deal to get the business, then jack your rates up over time since most people don't bother switching.

They all do it. I switch every 4-5 years or so, and the savings are always substantial before the huge hikes start again.

I used to get annoyed by this, and note that I'm a year older with another year of perfect driving record, and my car is a year older. Now I just accept it and switch once it gets out of hand.
bizaro86 is offline   Reply With Quote
The Following 2 Users Say Thank You to bizaro86 For This Useful Post:
Old 04-26-2019, 07:35 PM   #6
calgarygringo
Crash and Bang Winger
 
Join Date: Dec 2012
Exp:
Default

Everybodys insurance has gone up and will be going up a lot more get used to it. No they dont give you a deal to get your business especially right now many will scare you away because nobody wants auto. The reasons you get different quotes from the same companies is your coverages and or deductibles are not the same. Happens all the time and if you look closely and compare all the variables and their are pages of them if your broker truly does their job and they run the reports on you and your previous insurance it will all be the same. Unfortuneately most dont realize it and one year looks like a deal and the next all the right info goes in and it changes your rates.

Last edited by calgarygringo; 04-27-2019 at 07:57 AM.
calgarygringo is online now   Reply With Quote
Old 04-27-2019, 01:28 AM   #7
Dion
Not a casual user
 
Dion's Avatar
 
Join Date: Mar 2006
Location: A simple man leading a complicated life....
Exp:
Default

https://www.marsh.com/ca/en/services...-services.html
__________________
Dion is offline   Reply With Quote
Old 04-27-2019, 01:47 AM   #8
Snuffleupagus
Franchise Player
 
Snuffleupagus's Avatar
 
Join Date: Sep 2016
Exp:
Default

Quote:
Originally Posted by FlamingHomer View Post
Start with kanetix.ca

I saved a ton by using this service for most of my insurance needs.

Sent from my MHA-L29 using Tapatalk
LOL, the best quote was $170.00 MORE than I pay now, and that included the company I deal with!

For the love of fees
Snuffleupagus is offline   Reply With Quote
Old 04-27-2019, 07:27 AM   #9
FlamingHomer
Powerplay Quarterback
 
FlamingHomer's Avatar
 
Join Date: Jul 2008
Location: Republic of Panama
Exp:
Default

Quote:
Originally Posted by Snuffleupagus View Post
LOL, the best quote was $170.00 MORE than I pay now, and that included the company I deal with!



For the love of fees
That is surprising. I've done well with their quotes before.

Sent from my MHA-L29 using Tapatalk
__________________
Talk is cheap because supply exceeds demand.
FlamingHomer is offline   Reply With Quote
Old 04-27-2019, 07:30 AM   #10
Shazam
Franchise Player
 
Shazam's Avatar
 
Join Date: Aug 2005
Location: Memento Mori
Exp:
Default

Tell them you’re moving to another insurer. I did that to Intact and they chopped off about 30%.
__________________
If you don't pass this sig to ten of your friends, you will become an Oilers fan.
Shazam is offline   Reply With Quote
Old 04-27-2019, 10:33 AM   #11
Jbo
NOT a cool kid
 
Jbo's Avatar
 
Join Date: Sep 2009
Location: Calgary
Exp:
Default

Just dealt with this. After years with Lakeview Insurance Brokers I get my renewal and rates for two cars (Wife and I) and our property, and it had gone up 700 bucks a year. Needless to say I hit the roof. I was insured with Wawenesa. No claims or tickets to change things.

Talked with the Broker who used a few excuses including some insurance companies trying to pull out of Alberta (?), recent floods and hail, and what I consider to be other BS.

Shopped around at quite a few places: AMA, Intact, but actually found Scotiabank to have the best prices. Ended up saving a couple hundred a year moving everything over.

Overall in the process, found the Bank's to offer the best deals overall. I know you said you were with TD, but worth it to talk to RBC, Scotia.

Be prepared to prepare the same damn information over and over, but if you have some patience can find something.
Jbo is offline   Reply With Quote
Old 04-27-2019, 04:37 PM   #12
Snuffleupagus
Franchise Player
 
Snuffleupagus's Avatar
 
Join Date: Sep 2016
Exp:
Default

Quote:
Originally Posted by Shazam View Post
Tell them you’re moving to another insurer. I did that to Intact and they chopped off about 30%.
Yup that's the key, insurance is a pressure business, if you have a good record with them they will do cartwheels to keep you. when I added my 18yr old son and his car to the policy I flipped out and said "I have a far better offer elsewhere and will have to move on" she put me on hold and came back with $1100.00 cheaper, I wonder how many people just pay up?
Snuffleupagus is offline   Reply With Quote
Old 04-29-2019, 03:35 PM   #13
undercoverbrother
Franchise Player
 
Join Date: Mar 2012
Location: Sylvan Lake
Exp:
Default

If you use a broker please ensure they are independent.


For example, Broker Link are owned by Intact Insurance.
__________________
Captain James P. DeCOSTE, CD, 18 Sep 1993

Corporal Jean-Marc H. BECHARD, 6 Aug 1993

Quote:
Originally Posted by Sliver View Post
Just ignore me...I'm in a mood today.
undercoverbrother is offline   Reply With Quote
The Following User Says Thank You to undercoverbrother For This Useful Post:
Old 04-29-2019, 07:13 PM   #14
calgarygringo
Crash and Bang Winger
 
Join Date: Dec 2012
Exp:
Default

Sorry to say it is not BS. This is whats going on right now. One larger insurer right now is in the midst of planning their exit and others are thinking about it. Companies dont exist by losing money every year.


Quote:
Originally Posted by Jbo View Post
Just dealt with this. After years with Lakeview Insurance Brokers I get my renewal and rates for two cars (Wife and I) and our property, and it had gone up 700 bucks a year. Needless to say I hit the roof. I was insured with Wawenesa. No claims or tickets to change things.

Talked with the Broker who used a few excuses including some insurance companies trying to pull out of Alberta (?), recent floods and hail, and what I consider to be other BS.

Shopped around at quite a few places: AMA, Intact, but actually found Scotiabank to have the best prices. Ended up saving a couple hundred a year moving everything over.

Overall in the process, found the Bank's to offer the best deals overall. I know you said you were with TD, but worth it to talk to RBC, Scotia.

Be prepared to prepare the same damn information over and over, but if you have some patience can find something.

Last edited by calgarygringo; 04-29-2019 at 07:16 PM.
calgarygringo is online now   Reply With Quote
Old 04-29-2019, 07:16 PM   #15
calgarygringo
Crash and Bang Winger
 
Join Date: Dec 2012
Exp:
Default

I would read my policy very close as I would suspect you were over paying before or they have cut some coverage. Adding a teenager is not going to help your rates.
Quote:
Originally Posted by Snuffleupagus View Post
Yup that's the key, insurance is a pressure business, if you have a good record with them they will do cartwheels to keep you. when I added my 18yr old son and his car to the policy I flipped out and said "I have a far better offer elsewhere and will have to move on" she put me on hold and came back with $1100.00 cheaper, I wonder how many people just pay up?
calgarygringo is online now   Reply With Quote
Old 04-29-2019, 09:11 PM   #16
woob
#1 Goaltender
 
woob's Avatar
 
Join Date: Jan 2006
Exp:
Default

Quote:
Originally Posted by calgarygringo View Post
I would read my policy very close as I would suspect you were over paying before or they have cut some coverage. Adding a teenager is not going to help your rates.
I don't think he's saying his entire policy dropped $1100, I think he's saying the quote he got to ADD his son wound up being $1100 cheaper than the initial quote price.
woob is offline   Reply With Quote
The Following User Says Thank You to woob For This Useful Post:
Old 04-29-2019, 09:57 PM   #17
fundmark19
#1 Goaltender
 
Join Date: May 2009
Exp:
Default

Find a group insurance that you fit under. Majority of times you will save money. Find an alumni group you are apart of or your employer group. Best savings vs the street rates. Also insurance companies don’t bait and switch to get your business. As mentioned rates are going up and will jump significantly again once they convince conservatives to remove 5% cap to try and get profitable again. You will also see a lot of insurers reluctant to do business in Alberta. They legally have to provide you insurance but they will make it difficult. Some examples are paying for your policy in whole up front, not returning calls, make you go into an office and manually fill out applications. Nobody is enjoying losing their shirts these days so until they can rate people adequately by going over the 5% cap it’ll be fun times as a consumer.
fundmark19 is offline   Reply With Quote
Old 04-29-2019, 10:40 PM   #18
Dion
Not a casual user
 
Dion's Avatar
 
Join Date: Mar 2006
Location: A simple man leading a complicated life....
Exp:
Default

Quote:
Originally Posted by Jbo View Post
Just dealt with this. After years with Lakeview Insurance Brokers I get my renewal and rates for two cars (Wife and I) and our property, and it had gone up 700 bucks a year. Needless to say I hit the roof. I was insured with Wawenesa. No claims or tickets to change things.

Talked with the Broker who used a few excuses including some insurance companies trying to pull out of Alberta (?), recent floods and hail, and what I consider to be other BS.

Shopped around at quite a few places: AMA, Intact, but actually found Scotiabank to have the best prices. Ended up saving a couple hundred a year moving everything over.

Overall in the process, found the Bank's to offer the best deals overall. I know you said you were with TD, but worth it to talk to RBC, Scotia.

Be prepared to prepare the same damn information over and over, but if you have some patience can find something.
NDP cap on auto insurance rates leads to higher costs, fewer choices, says industry

Quote:
Many insurers operating in the province have stopped taking new customers because they’re losing money, said LowestRates.ca CEO Justin Thouin.

“The insurance companies don’t want new business because they’re not making money,” said Thouin.

His firm, which matches prospective motorists with insurers, is encountering an almost unheard of business phenomenon, added Thouin.

“We have all these people ready to buy but the insurers are saying ‘no thanks,’ ” he said.

“The options that remain out there are more expensive.”
Quote:
But Hodgson said the province’s premium cap has led to the cancellation of more than 100 contracts between insurers and brokers, considerably curbing coverage options for consumers.

Due to rising claims costs and the government-imposed premium limit, insurers are generally paying out $1.20 for every dollar they take in, he said.

“If this keeps up, some companies will refuse to do business and pull out of the province — it’s happened in other provinces,” said Hodgson.

But no companies have yet quit Alberta and are likely “holding their fire to see what the new government does.”
https://calgaryherald.com/news/local...-says-industry
__________________
Dion is offline   Reply With Quote
Old 04-30-2019, 10:37 AM   #19
Raekwon
First Line Centre
 
Raekwon's Avatar
 
Join Date: Nov 2007
Location: Airdrie, Alberta
Exp:
Default

Quote:
Originally Posted by bizaro86 View Post
Every car insurance company will give you a deal to get the business, then jack your rates up over time since most people don't bother switching.

They all do it. I switch every 4-5 years or so, and the savings are always substantial before the huge hikes start again.

I used to get annoyed by this, and note that I'm a year older with another year of perfect driving record, and my car is a year older. Now I just accept it and switch once it gets out of hand.
FYI this isn't true at this time. Companies are being very picky with business right now choosing safe risk as they can't charge enough of a premium to accept the poor risk drivers.
Raekwon is offline   Reply With Quote
Old 04-30-2019, 11:11 AM   #20
Shazam
Franchise Player
 
Shazam's Avatar
 
Join Date: Aug 2005
Location: Memento Mori
Exp:
Default

Price control leads to supply shortages.

Wow who knew. It's like nobody at the NDP have ever taken even a basic economics course.
__________________
If you don't pass this sig to ten of your friends, you will become an Oilers fan.
Shazam is offline   Reply With Quote
The Following 2 Users Say Thank You to Shazam For This Useful Post:
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT -6. The time now is 06:39 AM.

Calgary Flames
2023-24




Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Copyright Calgarypuck 2021