Auto Insurance

[REZXPERT]

Yeah, I know this topic's been covered at length on TM3 but i haven't noticed an MPS thread on this topic. We started talking about this in the 'MPS Meet' thread earlier this week so i decided to dedicate a thread to it. Some of you quoted your current rates & demographics to try & put everything in perspective. Any thread that can save us some hard-earned $$ is worth some discussion, esp when you can throw that hard-earned $$ into a new mod or two:bana

Anyhow, I've been insured by Meloche Monnex for over five years now.
I signed up w/ them to take advantage of their UofT grad discount.
Their service was great when i had to make claims (not at fault claims, luckily) and their rates are good. Long story short, after reading about PC Financial, I decided to get an online quote. I was quoted 20% less than Meloche but if it's too good to be true..... So I called to confirm this as they'd have to pull all of my driving info - incl all claims - to guarantee me the online rate. Keep something in mind: payable claims (at fault or not) are scrutinized.

Long story short: paying $105/mth now, everything in, for full coverage, $1000 "disappearing" deductible (your deductible drops 20% for every claim-free year till its zero$ in 5yrs) I even scored home insurance for $11/mth. I know a lot of you are younger than I am but PC Fin's reviews were positive across the board, taking into account age & demographics.

If there's one thing we've come to hate since being licensed, it's probably car insurance. If you can make them work for you or work them over in the process:chuckle, more power to you.

online quote:

http://www.pcinsurance.ca/ROCEN/AI_home_selector.asp?referid=leftnav

[ramboh]

Wow, that's a good rate. I'm turning 28 this year and am also with TD Meloche Monnex with their P.Eng. discount. I just got the 08 MS3 at the end of December. I have no claims and have had my G license since 1998. I have a $1000 deductible and I'm paying $146 per month, including comprehensive. Come renewal time, I'm definitely looking at switching to either my wife's teacher insurance plan or PC financial.

It sounds like I could do better...

[ramboh]

I just did an online quote at PC Financial and they want $179 for me with a $1000 deductible. I guess it is heavily dependent on age. Oh well, I'll stick with Monache Monnex for now.

[Garu]

PC also have the policy if you stayed over 5 years with your current insurer there is bit more discount. But if you are insured less than 5 years with your current insurer it is bit more. I believe it was 10% difference last time I checked.

At age 29 I am paying 220 a month with Royal & Sun alliance. I have been driving over 10 years but the main reason I am paying the high premium is, I did not have my own insurance until I bought the MS3.

[Skarbro]

Keep something in mind: payable claims (at fault or not) are scrutinized.
It is illegal in personal lines auto insurance for the company to penalize you for not at-fault claims. The only reason why they ask for all the claims, is so that they can be sure that the claims you say that you are not at-fault are not really at-fault.

Also, I am not a fan of PC (which is really Aviva). Their service is crap.

BTW, I left Scottish & York (which is also Aviva and have the exact same rates as PC) to go to Meloche Monnex because MM's premium was lower. You really have to compare the two to see if you are comparing apples to apples. Check all your limits and deductibles.

[REZXPERT]

Wow, that's a good rate. I'm turning 28 this year and am also with TD Meloche Monnex with their P.Eng. discount. I just got the 08 MS3 at the end of December. I have no claims and have had my G license since 1998. I have a $1000 deductible and I'm paying $146 per month, including comprehensive. Come renewal time, I'm definitely looking at switching to either my wife's teacher insurance plan or PC financial.

It sounds like I could do better...

FYI, you don't have to wait till your policy expires to cancel. this should apply to all insurers (correct me if i'm wrong). to cancel, you'd probably have to pay them back an equivalent of one monthly payment. that's what Meloche asked of me. pretty simple.

[Skarbro]

FYI, you don't have to wait till your policy expires to cancel. this should apply to all insurers (correct me if i'm wrong). to cancel, you'd probably have to pay them back an equivalent of one monthly payment. that's what Meloche asked of me. pretty simple.
When you cancel mid-term, you are penalized on a short-rate basis - which is different depending on how much is left in your policy term. The later in the term you cancel, the less it is.

[REZXPERT]

When you cancel mid-term, you are penalized on a short-rate basis - which is different depending on how much is left in your policy term. The later in the term you cancel, the less it is.

coverage is identical, apples-to-apples. knowing what you're leaving & signing up for is a logical must.

what i'm paying back Meloche for cancelling is what i'm saving w/ PC over two monthly installments :)

as for service, like anyone else, i don't plan on dealing with them aside from receiving liability slips once a year and paying them lowly dues!

[RX9]

PC also have the policy if you stayed over 5 years with your current insurer there is bit more discount. But if you are insured less than 5 years with your current insurer it is bit more. I believe it was 10% difference last time I checked.

At age 29 I am paying 220 a month with Royal & Sun alliance. I have been driving over 10 years but the main reason I am paying the high premium is, I did not have my own insurance until I bought the MS3.

thats "high risk market" insurence which that take care the new guys (not all company want insure the new driver or they give them sky high rate), if you dont have any fault claim and clean history, i am sure you will get better rate on other "regular" company.

[doughboyr6]

don't forget one thing guys....you're all looking at each other's premium and saying "wow, what a great deal"...you've all neglected to mention where each of you live....rates are different in different areas....the same driver/same record simply with a change of address can affect the premium.

[REZXPERT]

don't forget one thing guys....you're all looking at each other's premium and saying "wow, what a great deal"...you've all neglected to mention where each of you live....rates are different in different areas....the same driver/same record simply with a change of address can affect the premium.


obviously.

see my first entry on this thread. this wasn't intended to be a rate/demographic comparison thread. i was shedding light on PC Financial vs Meloche Monnex, two of the better known insurers as far as cheaper rates are concerned.

[doughboyr6]

sorry, i missed that part of what you wrote.

[stormin84]

paying 214 a month 2008.5 MS3 and including house insurance and only 23 yrs old. with RBC INSURANCE

[royroy]

paying 198 a month.. 07 MS3.. 21 years old.. with state farm

[Skarbro]

Why do I open these threads?

[Dave83]

I am paying 117/month on my 08.5 MS3, 24, first insurance on mine. 5 year replacement value, full coverage.
Melloche Monnex was the lowest I could find.

[mleblond]

263/month going down to 210 in july. Bel-air direct. You guys suggest any other place? Melloche Monnex say what about mods?

[dentinger]

paying 198 a month.. 07 MS3.. 21 years old.. with state farm

jesus. im under my parents name, and im 20, and i pay 200/month.

im definetly going to have to find a different insurance company when i move out.

[Noisy Crow]

MODS: Can we get these two insurance threads merged.... or at least this one closed.... it's way off of the original topic...........

[mleblond]

MODS: Can we get these two insurance threads merged.... or at least this one closed.... it's way off of the original topic........... how you figured that? this one is for the speed...