Insurance Question - Car

D

double down

New member
Mar 20, 2009
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I've made a few bad moves lately, and currently would
be a high risk .. driving while under suspsension, etc...

I need insurance... but don't want to pay the est. $7500 i've been quoted.

Could use some help here.

pm specifics if needed.

thanks much,
dd
 
Sorry bud, you're screwed.

The only suggestion I have is to rent whenever you need a car or take a cab.

Either that or get a beater with no collision, no comp, just liability until you get your record straightened out....
 
Agreed, you're in a tough spot. There are a bunch of high risk insurers in TO - easy enough to find on the web. Get a few quotes, but I assume you've already done that, and be ready to open up your checkbook wide.
 
ready2rock said:
Agreed, you're in a tough spot. There are a bunch of high risk insurers in TO - easy enough to find on the web. Get a few quotes, but I assume you've already done that, and be ready to open up your checkbook wide.
Click to expand...

prolly have to open the cheeks wide too while he bends over to pick up the chequebook lol....

not like I'm suggesting it or anything, but I wonder what the fine is for driving without insurance? It is probably cheaper than the actual insurance....

In the US, if you cancel your insurance, the DOT cancels your licence/plates until you provide proof of insurance. The systems are linked down there....
 
thanks mates.. Kingsway

Any specific's on Kingsway ??

I believe the fine is $5000 for no insurance.
not a good situation...

any other thoughts, solutions, are welcome.
I guess I'm preparing to write the cheque !
I drive a new car, worth quite a bit, and can't take the chance,
not to mention worst case scenario's.

thanks again.
dd
 
Time to dump the: "new car, worth quite a bit" for the oldest smallest car you can use. It takes quite awhile (7-10yrs) for your insurance to go to a normal level. But you need to stay insured to not be looked at as a new driver 7 years from now. Tough call.
 
DshRipRock said:
Time to dump the: "new car, worth quite a bit" for the oldest smallest car you can use. It takes quite awhile (7-10yrs) for your insurance to go to a normal level. But you need to stay insured to not be looked at as a new driver 7 years from now. Tough call.
Click to expand...

What I've been told is to stay with your broker now, get 6 months at a time, get your broker to get competitive prices every 6 months based on your driving abstract, it is based on last three years( they may look at 5 years if it is a commercial vehicle). I got 3 stupid tickets all in a 2 year period and my insurance went up, did two six month extentions then went back to normal rate.I have been with my broker for 20 years.
 
I agree; time to get rid of the new car and get into something less expensive (and expensive to repair)


Auto Insurance In Canada
There are 10 provinces in Canada, and each one has a very distinct way of managing auto insurance regulations. Depending on where you live, you could be required to purchase insurance through a government-run agency. Or you could have the choice of obtaining insurance through a private company. While the provinces set a minimum standard for insurance coverage, it is always considered wise to secure coverage far in excess of the province’s minimum requirements.*

All of Canada’s provinces have some form of no-fault insurance in which benefits are paid to all victims in an accident. But depending on the province, the ability for someone to sue for further damages can be different. The type and scope of insurance required will vary by province.

Ontario
All drivers in the province of Ontario must have at least minimum insurance. While is not mandated, insurance experts recommend using the province’s minimum requirements as a starting point for determining your coverage. The coverage must provide:

Up to $200,000 in third-party legal liability coverage

Up to $100,000 for medical expenses ($1 million if the injuries are “catastrophic”), after health insurance benefits have been exhausted

Up to 80 percent of your after-tax wages if you are unable to work

Survivor’s benefits of $13,072 in the event of your death and $7,843 for funeral expenses
 
tboy said:
but I wonder what the fine is for driving without insurance? It is probably cheaper than the actual insurance....
Click to expand...


In Ontario, fine for driving without insurance:

$5,000 to $25,000 for first offence.

$10,000 to $50,000 for second offence.

And, a remarkably stupid idea.
 
double down said:
Any specific's on Kingsway ??
I believe the fine is $5000 for no insurance.
not a good situation...
any other thoughts, solutions, are welcome.
I guess I'm preparing to write the cheque !
I drive a new car, worth quite a bit, and can't take the chance,
not to mention worst case scenario's.

thanks again.
dd
Click to expand...

http://www.kingsway-general.com/KGWeb/KGpersauto.jsp
 
double down said:
Any specific's on Kingsway ??

I believe the fine is $5000 for no insurance.
not a good situation...

any other thoughts, solutions, are welcome.
I guess I'm preparing to write the cheque !
I drive a new car, worth quite a bit, and can't take the chance,
not to mention worst case scenario's.

thanks again.
dd
Click to expand...

I've made a couple "bad decisions" while driving and was in a similar spot. I was with Perth first for a year and now I'm with Kingsway so I can vouch for them.

My broker tried doing the 6month renewal thing but it didn't work out as they jacked up the 6month rate!
 
Nordique is another facility company. Your best bet is to go with a broker who has several insurance companies in their portfolio and they'd choose the one that best fits your situation.
 
Call up your insurance company and ask them how you can reduce you insurance premiums. My guess is that it can be done, but it will not be fast or cheap.
 
Larry_Fyne said:
I have 3 words for you.......




TTC Metro Pass
Click to expand...

Try the above, or, if you really need to drive and depending on how far, take a taxi. Otherwise, tough.

Why not provide details on what you did to get yourself in that spot.
 
Worf said:
Try the above, or, if you really need to drive and depending on how far, take a taxi. Otherwise, tough.

Why not provide details on what you did to get yourself in that spot.
Click to expand...

Probably doesn't want to get slammed for it by the people on the board. :D We know he's high-risk, don't really need to know more as the answer is pretty much the same

Buy a cheap car
Put the minimum insurance on it that your broker can find you
Check for better rate each time renewal comes up
Wait for time to heal the driving record
Drive smarter in the meantime
 
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