Do you have options other than the government ? Competition is healthy.
What type of insurance rates is everyone getting in Ontario?
- Thread starter Pjmodi
- Start date
In addition to the usual factors such as car value, your driving record and your address there are many other optional coverages that impact rates.
1. Depreciation waiver - you get the lesser of what you paid or what a new car costs.
2. Accident and conviction forgiveness - you get to have one conviction or one accident without raising your rates.
3. Car rental if your car is disabled due to an accident
4. Uninsured driver coverage - your company pays if the other driver does not have insurance.
5. Your deductible in the case of a collision claim
6. Your liability coverage limits - in this very litigious time you should probably have $1 million
I too used to "suspend" coverage on my Corvette, leaving just fire, theft and comprehensive, during winter storage and it saved me $100 a month. Then my insurance company decided that this turned us into a one car family so I lost my two car discount on our SUV which cost me an extra $90 a month. For $10-$15 a month it was not worth the paperwork and nuisance of having to put the car away on a set date and not take it out of storage until a set date.
My recommendation is that you use an insurance broker (NFP is a big one) to select your insurer and have them shop around your entire package. Bundling your cars plus house can save you a substantial amount. Most people I know who are 55 plus years old, not commuting to work and accident free with full coverage as above are paying between $1200-$1500 a year for a C8.
1. Depreciation waiver - you get the lesser of what you paid or what a new car costs.
2. Accident and conviction forgiveness - you get to have one conviction or one accident without raising your rates.
3. Car rental if your car is disabled due to an accident
4. Uninsured driver coverage - your company pays if the other driver does not have insurance.
5. Your deductible in the case of a collision claim
6. Your liability coverage limits - in this very litigious time you should probably have $1 million
I too used to "suspend" coverage on my Corvette, leaving just fire, theft and comprehensive, during winter storage and it saved me $100 a month. Then my insurance company decided that this turned us into a one car family so I lost my two car discount on our SUV which cost me an extra $90 a month. For $10-$15 a month it was not worth the paperwork and nuisance of having to put the car away on a set date and not take it out of storage until a set date.
My recommendation is that you use an insurance broker (NFP is a big one) to select your insurer and have them shop around your entire package. Bundling your cars plus house can save you a substantial amount. Most people I know who are 55 plus years old, not commuting to work and accident free with full coverage as above are paying between $1200-$1500 a year for a C8.
Interesting...I've never had the premiums for our other vehicles raised by removing the road coverage off my sports car in the wintertime...but we've always had 2 plus the Corvette. One day we may go down to one family vehicle & then I'll have to check if this changes things. Bundling home insurance definitely helps as well.
Very true. I have all of my insurance needs with the same underwriter. You nailed it. Shop around. Anyone who has ever shopped on Amazon for a single item should know that , lol.
Yep as long as we had a minimum of two cars insured I could reduce the Corvette but when we went to two cars including the Corvette we were no longer eligible for the "muti car discount" when I reduced the Corvette coverage.
- Thread starter
- #26
I have three cars and they were charging 405/month which is why I was curious. Then I put it into the winter storage fire and theft which reduced it by $200/month. Even if it’s for 3 months it’s worth it at this rate. I might be moving soon so I hope it’s cheaper then my current address but it’s insane that’s for sure.
- Thread starter
- #28
Maybe for the better. While competition is healthy, here it seems it’s a first to grab the most cash. 2K is much reasonable.
Actually you can buy separately collision from another supplier other than ICBC. ICBC has treated me great with a small mishap I had with my C8 this past summer - $17K.
Born ... '75 ... turning the big 5-0 this november been with CAA forever ... have house and all our cars with them
600 per year for my '21 C8 ... full coverages 1000 deductable ... yea thats a true story ...
Check them out perfect driving records and 25 + years driving ... they're very friendly to that
I have my C8 as occasional use and no I dont have any big brother plug ins
BTW I'm in Etobicoke
600 per year for my '21 C8 ... full coverages 1000 deductable ... yea thats a true story ...
Check them out perfect driving records and 25 + years driving ... they're very friendly to that
I have my C8 as occasional use and no I dont have any big brother plug ins
BTW I'm in Etobicoke
Just for the record, I pay $487/year for my 22 with 2m liability, full replacement value, blah blah blah ..... everything. In NB.
The catch for me was/is my deductible is $6000
Inova (Zenith) via Costco like to have a 5% deductible based on the purchase price of the car ...
I can live with that, as any $2000 fender benders I'm not putting through insurance anyhow if it can be avoided. We know what would come next.
The catch for me was/is my deductible is $6000
Inova (Zenith) via Costco like to have a 5% deductible based on the purchase price of the car ...
I can live with that, as any $2000 fender benders I'm not putting through insurance anyhow if it can be avoided. We know what would come next.
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BC . Bring Cash they say.
Cooperators
2200 yearly. 2025 Z06 HTC 3LZ
1 at fault 7 yrs ago
Newmarket
FULL replacement for 5 yrs
2200 yearly. 2025 Z06 HTC 3LZ
1 at fault 7 yrs ago
Newmarket
FULL replacement for 5 yrs
Pretty damn good rate!!! When you get out into the smaller cities/towns rates go down a lot: same here in B.C. Fewer accidents and thefts.
- Thread starter
- #35
Yeah I’m a bit stuck this year to be honest. I got a stunt driving and suspension this past year on 2024. Although my insurance doesn’t reflect any of that and it shows clean on the renewal, I really don’t think shopping around until March 2027 will make sense but I am going to try. My record was clean for 12+ years. Just bad timing. New job downtown and had to get to the kids to pick them up and dinner. Pushed it a bit and got busted. 
Did they put a milage cap on the occasional use ? That’s an excellent rate regardless of where you are located.Born ... '75 ... turning the big 5-0 this november been with CAA forever ... have house and all our cars with them
600 per year for my '21 C8 ... full coverages 1000 deductable ... yea thats a true story ...
Check them out perfect driving records and 25 + years driving ... they're very friendly to that
I have my C8 as occasional use and no I dont have any big brother plug ins
BTW I'm in Etobicoke
Born ... '75 ... turning the big 5-0 this november been with CAA forever ... have house and all our cars with them
600 per year for my '21 C8 ... full coverages 1000 deductable ... yea thats a true story ...
Check them out perfect driving records and 25 + years driving ... they're very friendly to that
I have my C8 as occasional use and no I dont have any big brother plug ins
BTW I'm in
Wow, that's a good insurance rate.
I should explore that route further with CAA for an even better rate.
I am long time CAA member.
hey ... well they say its 4000 km per year .... but I have them beat .... July 28th of this year will be 4 years that I have had this beast and there is only about 6000 kms on it ...
yea actually i just looked at the policy and not quite 600 ... its actually 629
but yes all the coverages ... depreciation waiver ... 2 million liability etc etc ... 1000 deductable
well se come Aug 1 if they increase it ... but i'v been pretty happy with CAA
This requires you to install the OBD connector and app correct?yea actually i just looked at the policy and not quite 600 ... its actually 629
but yes all the coverages ... depreciation waiver ... 2 million liability etc etc ... 1000 deductable
well se come Aug 1 if they increase it ... but i'v been pretty happy with CAA