Just wondering if anyone else has heard about pending rate increases for vehicle insurance. I just got a tentative quote from TD , as I have yet to get my car, and was told that they are anticipating an approximately 20 to 30 % increase across the board , industry wide, as early as February. The agent said it was the highest one time increase they have ever seen. May be a good idea for anyone with a VIN that has yet to receive their car to insure it now. Do the math of course but worth a thought. :cry:
 
Thanks for posting this heads up. I’ve been with TD for about 45 years and got tired of their rates so I price shopped about a month ago. They were the most expensive amongst the 4 others I checked. I’m planning to switch when my term expires, given the penalties TD has for early cancellation. Food for thought.
 
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Thanks for posting this heads up. I’ve been with TD for about 45 years and got tired of their rates so I price shopped about a month ago. They were the most expensive amongst the 4 others I checked. I’m planning to switch when my term expires, given the penalties TD has for early cancellation. Food for thought.
Ya , obviously there are a number of factors that influence what someone will pay but I was quite surprised by the TD quote. Two million liability , three year replacement cost, 1,000 deductible and full comprehensive of course for $865 . I do have a clean record, over 60 and have two other vehicles and a residence insured with them but still very pleased with that number.
This was only three days ago. A couple of things they offer that some may not be familiar with are a discount if you attended a post secondary education institution as well as a discount for simply starting your application online. I have seen higher quotations people have gotten from TD but again personal circumstances and perhaps geographic location come into play. But still maybe worth a look for some. The quote was based on no driving to and from work and 5,000 km annual usage as well. As noted by my sig this is for the NWT . May have to do with the fact that there is only one road south out of here so perhaps harder to get away with stealing one, lol .
 
It pays to compare rates.
Try rates.ca to compare several different brokers or agencies.
CAA currently looks good for auto.
$2M for liability? Seems like maybe they're increasing some of the coverage parameters to increase premiums.
Rates.ca don’t operate in the NWT according to their site. I haven’t checked CAA but will take a look but will be surprised if they beat the one I just got. Thanks for the suggestion though.
 
It pays to compare rates.
Try rates.ca to compare several different brokers or agencies.
CAA currently looks good for auto.
$2M for liability? Seems like maybe they're increasing some of the coverage parameters to increase premiums.
CAA don’t offer policies in the NWT either. I requested 2 million coverage. The difference is minimal. For the coverage and cost quoted I don’t think I can do better actually. I’ll pay that quite happily. I just really wanted to point out that the forthcoming increases appear to be industry wide so hoping to save someone a few bucks. With the greed/gouging happening, as well as justified increases in seemingly everything it all adds up. What kind of quotes have you found for similar coverage for your pending HTC ?
 
Just wondering if anyone else has heard about pending rate increases for vehicle insurance. I just got a tentative quote from TD , as I have yet to get my car, and was told that they are anticipating an approximately 20 to 30 % increase across the board , industry wide, as early as February. The agent said it was the highest one time increase they have ever seen. May be a good idea for anyone with a VIN that has yet to receive their car to insure it now. Do the math of course but worth a thought. :cry:
Don't believe a bank!!!! They lie through their proverbial teeth!
 
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Don't believe a bank!!!! They lie through their proverbial teeth!
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At the time I was speaking with him he knew that I wasn’t buying a policy that day so I don’t see why he would “ lie through his teeth “ to me . To what end I might ask? And actually the quote I got from them, both on the phone and online, was the best of four that I got. When we changed our home policy to TD it almost cut our premium by almost half. Your mileage may vary obviously. And TD don’t underwrite the policy anyway. Time will tell if his prediction is correct of course.
 
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What does that have to do with a lying bank?
Nothing really. I just like the cartoon. If I’m not mistaken I have heard you express these sentiments regarding banks in a previous post. Sorry it wasn’t a good experience for you. And yes I do agree that banks, insurance companies , dentists, and some lawyers are not necessarily your friend all being for profit entities but you can’t necessarily tar them all with the same brush.
 
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Nothing really. I just like the cartoon. If I’m not mistaken I have heard you express these sentiments regarding banks in a previous post. Sorry it wasn’t a good experience for you. And yes I do agree that banks, insurance companies , dentists, and some lawyers are not necessarily your friend all being for profit entities but you can’t necessarily tar them all with the same brush.
I agree. It's the 99% that give the other 1% a bad name... :rolleyes:
 
Rates.ca don’t operate in the NWT according to their site. I haven’t checked CAA but will take a look but will be surprised if they beat the one I just got. Thanks for the suggestion though.
Actually, I'm with Allstate, and have been for 5 years. They're a one stop shop for us. Home/Auto/RV, with bundle discounts.
However, they've been going through some hard times apparently, and have laid off staff to reorganzie/downsize, and it is having a negative effect on their customer service. It took me 3 weeks to get in touch with someone about adding the Corvette.
I've also discovered Billyard Insurance Group, a brokerage chain, and they use multiple insurers/underwriters to build coverages for their clients. They use Aviva Elite for RV coverage, and it's pricier than my current Allstate plan, so that's the roadblock to me with them. Higher coverages, $2M vs $1M liability, for example, seems to be the reason. My local BIG broker did some quotes and their coverages were higher than Allstate, for some items. Oddly, their standalone CAA Corvette coverage was lower than Allstate, but the Aviva Elite RV coverage more than compensated, in their favour.
Higher coverages = higher premiums, and for what benefit to me, exactly? In most cases "no fault" means no fault, and liability is rendered less important in litigatory terms, and is usually handled seamlessly by the opposing insurers. Lawsuits for "windfall" auto accident compensation are rare in Canada.
If TD quoted you $865 for the Vette, take it. It's lower than either quote I got down here in SW Canuckistan.
 
@netsinah, he's not talking about you brother...
You are absolutely correct sir. It was not my intention to offend anyone. I did say SOME after all. My original purpose for the post was to simply provide some information I was given in the hope it would be beneficial to anyone looking for insurance in the near future. I have no way of verifying the information so perhaps I shouldn’t have said anything.
 
Actually, I'm with Allstate, and have been for 5 years. They're a one stop shop for us. Home/Auto/RV, with bundle discounts.
However, they've been going through some hard times apparently, and have laid off staff to reorganzie/downsize, and it is having a negative effect on their customer service. It took me 3 weeks to get in touch with someone about adding the Corvette.
I've also discovered Billyard Insurance Group, a brokerage chain, and they use multiple insurers/underwriters to build coverages for their clients. They use Aviva Elite for RV coverage, and it's pricier than my current Allstate plan, so that's the roadblock to me with them. Higher coverages, $2M vs $1M liability, for example, seems to be the reason. My local BIG broker did some quotes and their coverages were higher than Allstate, for some items. Oddly, their standalone CAA Corvette coverage was lower than Allstate, but the Aviva Elite RV coverage more than compensated, in their favour.
Higher coverages = higher premiums, and for what benefit to me, exactly? In most cases "no fault" means no fault, and liability is rendered less important in litigatory terms, and is usually handled seamlessly by the opposing insurers. Lawsuits for "windfall" auto accident compensation are rare in Canada.
If TD quoted you $865 for the Vette, take it. It's lower than either quote I got down here in SW Canuckistan.
I will for sure take the TD offer when the time comes if it’s still available. Insurance certainly is a complicated issue. There doesn’t seem to be any universal standards province to province or even different jurisdictions within one . We used Aviva several years ago and found their rates were quite high compared to what we found after shopping around. Although I have no problem with my quote I believe that I saw in a previous post someone from Ontario saying they had a quote from TD in the $450 range although I‘m not sure what was included. Seems to be all over the board. It definitely is a case of caveat emptor .
 
Thoughts. If there is indeed a significant increase coming up, I may be better off not changing my insurance when I put my car away for the winter. In the past I didn't really save a lot of money when I changed my policy for winter storage. Weather in SW Ontario isn’t bad so I might be able to drive the car for all of November and maybe some of December. Usually put The car back on the road early April.
My insurance renews in July, thinking if they apply rate increase in April, is it really worth it.
 
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