Getting ripped off on insurance

I have been out of country since 1.5 years and I decided to keep my Mazda3 in parking. Naturally, I cancelled my auto insurance.

At that time I was paying $350/mth.

My car is Mazda 3 GX 2008 bought brand new
I have a G2 since 2008
31 years old, male
Living in M3C postal code
2 speeding tickets

Now that I decided to resume my auto insurance after 1.5 years I am getting quotes in the region of $440 - $500.

And I am wondering what happened exactly. Even though my car is 1.5 years older and I am older as well.
Shouldn't I be getting a cheaper rate now?

Btw I checked autorate with a G license and no tickets and I got a $420 quote, which is still $70 higher.

Help!!

keep shopping around

What happened was......your getting ripped off just like the rest of us. So bend over, pull your pants down and pretend like you enjoy it

Age of a vehicle doesn't seem to matter anymore.

Got a quote a few weeks ago for a 2013 speed 3 from my current insurance company. It would only raise my insurance by $3 per month.

I'm currently in a 07 2.0.

Insurance like to see that you are continuously insuranced. A gap in your insurance history is enough for an increase. But of course there's other factors; things change (demographic, car rating, etc).

Look on the bright side, you saved 1.5 years of insurance $!!! That will easily offset the rate increase.

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Originally Posted by GSXi

Insurance like to see that you are continuously insurance. A gap in your insurance history is enough for a increase.

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This.
I kept a minimal policy on a car I owned in Canada while I was living overseas. Overall I probably paid more than I may have if I outright canceled but my monthly rate today doesn't hurt my butt so much.

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Originally Posted by PearlM3

What happened was......your getting ripped off just like the rest of us. So bend over, pull your pants down and pretend like you enjoy it

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+1, unfortunately

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Originally Posted by peterm15

Age of a vehicle doesn't seem to matter anymore.

Got a quote a few weeks ago for a 2013 speed 3 from my current insurance company. It would only raise my insurance by $3 per month.

I'm currently in a 07 2.0.

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A 2013 speed eh ;)



OP, you should definitely shop around a bit and see if another company can offer a lesser rate for your car. But that rate isn't outrageously high for what you've described, so unfortunately it might not get too much better than that. Good luck!

In my case the area I live in now has increased my insurance about 40% versus my old area while still being in the same city.

It sucks but pearlm3 said it best...

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Originally Posted by FD22

A 2013 speed eh ;)

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just weighing options. You never know.
Not yet though.

My last renewal went up like $30 a month and its actually because there were a lot more claims on the Mazda 3's over the last year. It is not based on you specifically all the time, a lot of it has to do with people making fraudulent claims and the amount of accidents with the model of car.

Demographics. My insurance rate was 260 a month in North York, moved Downtown Toronto....dropped down to 136 a month.

wow 440 a month for an 08 at 31 i would :sad:complain:rant and some. i pay $240 on a 2010 gs in brampton. but its tied in with my house insurance as well. i was with wawanesa ( think its spelt that way) and was good for about 2 years then last year they wanted to put it up and i was like na i dont think so. called up the house insurance company and got covered from them and my isurance still went down. i am also younger as well but a full G for about 7 years or so now.

what if you get your G and do a drivers course. will it go down at all?

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Originally Posted by JonsMazda

Demographics. My insurance rate was 260 a month in North York, moved Downtown Toronto....dropped down to 136 a month.

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thats because they know you cant really drive downtown toronto :P at least fast

Try Co-Operators, I have been with Co-Operators since coming to Canada. Admittedly I have been with them for over 30 years. So this is one time being Mature:chuckle has benefits. I also have my home and life insurance with them so there are discounts for that, I also do not drink so I get an abstainers discount. I have full collision and comprehensive coverage.
$100 deductible on comprehensive and $300 deductible on collision. I also have loss of use. I am accident and ticket free.

I pay $86-73 per month.ON a 2010 Mazda3 GT sport.


Pat.

Why don't you get an insurance broker? They'll shop it for you to get the best rate.

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Originally Posted by tsaotablem

This.
I kept a minimal policy on a car I owned in Canada while I was living overseas. Overall I probably paid more than I may have if I outright canceled but my monthly rate today doesn't hurt my butt so much.

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One should NEVER fully close their policy. It will definitely increase the insurance if you do so, once you want to renew. Only a minimal policy is required to keep a policy active, such as Fire and Theft, which is quite cheap. This was the OP's mistake, he should have called the Insurance company and let them know his plans and they would or should have told him so!...NOTE;- This statement in no way deteriorates my thoughts that Insurance Companies along with our Provincial Government, working in cahoots no doubt, are ripping us all off blind.

I second the notion that the OP should call a couple of Insurance brokers.

_3

The longer you don't have insurance, the more you get put into the 'new driver' category again. 3 years would have been much worse since you could have 100 tickets and get rid of them all in that period.

The insurance industry sucks. Insurance fraud also sucks because so many people do it and it increases everyones rates.

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Originally Posted by Flagrum_3

One should NEVER fully close their policy. It will definitely increase the insurance if you do so, once you want to renew. Only a minimal policy is required to keep a policy active, such as Fire and Theft, which is quite cheap. This was the OP's mistake, he should have called the Insurance company and let them know his plans and they would or should have told him so!...NOTE;- This statement in no way deteriorates my thoughts that Insurance Companies along with our Provincial Government, working in cahoots no doubt, are ripping us all off blind.

I second the notion that the OP should call a couple of Insurance brokers.

_3

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I decided to take decisions on logic, I guess that was my mistake.

By the way, are there any ways to minimize the insurance? For example I don't drink and I heard that a few insurance companies allows discounts for abstinence. So far I know:

- Multi-product discount.
- Abstinence discount

Does being a member of CAA help?

Some companies offer university discounts, if you graduated from one, check to see.

Similar discounts for certain professions and government employees.

Remember that some companies offer discounts on having Winter tires. When I got them on my newer vehicle I told them and my rates were adjusted.

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Originally Posted by kaswardy

By the way, are there any ways to minimize the insurance? For example I don't drink and I heard that a few insurance companies allows discounts for abstinence. So far I know:

- Multi-product discount.
- Abstinence discount

Does being a member of CAA help?

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I posted in this thread that I am with The Co-operators, I get discount for having my home and life insurance with them. I also get an abstainers discount.

Pat.

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Originally Posted by sube

I posted in this thread that I am with The Co-operators, I get discount for having my home and life insurance with them. I also get an abstainers discount.

Pat.

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Most times a multi-coverage plan doesn't save much at all, thats been my experience anyways. Most important is location. So you for instance, get an awesome discount for NOT living in the GTA. ;-)

It used to be that your insurance rate was directly related to your personal driving record and history, nothing else...Not anymore! Now good drivers have to pay for all the shitty drivers out there, which is just completely unfair and a total ripoff....and you can blame our Provincial Government for this, as they changed the rules to shutup all the crying from the Insurance industry, which was claiming they would go bankrupt and whom are now raking in BILLIONS in profits at our expense.

Daily Rant over.

_3

Quote:

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Originally Posted by kaswardy

By the way, are there any ways to minimize the insurance? For example I don't drink and I heard that a few insurance companies allows discounts for abstinence. So far I know:

- Multi-product discount.
- Abstinence discount

Does being a member of CAA help?

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abstinence discount? Forgive my ignorance but what is this? abstinence from alcohol?

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Originally Posted by Marta

abstinence discount? Forgive my ignorance but what is this? abstinence from alcohol?

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That would be alcohol I believe.Or maybe sex who knows:D couldn't resist.

Pat.

Quote:

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Originally Posted by Flagrum_3

Most times a multi-coverage plan doesn't save much at all, thats been my experience anyways. Most important is location. So you for instance, get an awesome discount for NOT living in the GTA. ;-)

It used to be that your insurance rate was directly related to your personal driving record and history, nothing else...Not anymore! Now good drivers have to pay for all the shitty drivers out there, which is just completely unfair and a total ripoff....and you can blame our Provincial Government for this, as they changed the rules to shutup all the crying from the Insurance industry, which was claiming they would go bankrupt and whom are now raking in BILLIONS in profits at our expense.

Daily Rant over.

_3

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I agree with the problem being with the provincial government, however in my case with Co-operators the discounts amount to about 25%.

Pat.

dont get into problems everybody. I kid you not i have a Dangerous Driving Conviction from a incident that happened in nov 2007. I was convicted in 2009 and the suspensions etc ceased and all that. Still I payed $1076 a month to Cooperators and am still am paying $714 a month to them just because I have a suspension in the last 3 years.

Quote:

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Originally Posted by peterm15

Age of a vehicle doesn't seem to matter anymore.

Got a quote a few weeks ago for a 2013 speed 3 from my current insurance company. It would only raise my insurance by $3 per month.

I'm currently in a 07 2.0.

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For what its worth, while we are on the subject.

When i went from my 2006 sedan to my 2012 speed3 my insurance went down almost $100/month!

I was stunned to say the least lol.

don't f it up, depending on your location and sex and age who knows what you have to pay... i went from $250 to $1076 to now $714 a MONTH just to drive a 4 cylinder hatchback. Sadly I have 1 bad thing 2 atfaults i coulda paid for and should have. And I live in Brampton...highest rates in Canada... insurance sucks if you f it up....drive tour M3Speed with care.

Just going to copy and paste... Btw does the board not have an edit button? Note I'm not a Mazda 3 owner yet, but I may be in the future :)

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Originally Posted by KINGACS

Just got my first M3 GS-Skyactiv Sedan my 6th car (Hondas, Acuras, and 1 GM) by far the cheapest insurance I've gotten so far $237 a month with Desjardins...21 had my license (Full thing at 17) been insured on my own ever since 17...1 minor ticket and 1 not at fault accident living in Mississauga....very happy I remember my days paying $450 a month for a 96 Civic DX coupe

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I question their online quoting system... Currently got a 2012 Volvo S60 T5 and 2000 Volvo S70 SE with Desjardin. Roughly $4500/year for both my mom and I. I did an online quote with similar numbers for the Mazda 3 GS-SKy and the premiums jumped to $6500. Did it again, and then it decreased. What the...

there are a lot of info here and a lot opinions offered. I suggest the readers to take the information with a grain of salt as the info/opinions are limited to their own experience. there are a few people here with actual professional insurance working experience. i would reach out to those.

in the province of ontario, you cancelling your own insurance policy at customers request is not a rateable lapse. in the case of OPs, it should not be rateable. as for you now being older, will make not much of a difference probably. every company will be a bit different, but the one i work for, even if you are 80 yrs old and still have your G2, you will be stuck at the same * rating. your mature discount may vary slightly for being older, but your * rating is capped. i'm confident we are not the only company to do this.

There are a number of variables at play in insurance.

Older than 25 definitely makes a difference, married another plus, call it discriminatory but it is a fact, driving history IE: accidents, speeding tickets, DUI, Area you live in will all affect premiums. For a Good driving record some companies will offer accident forgiveness IE: no rate increase for one accident. And yes rates will be capped at a certain percentage regardless of how old you are. Being older does not guarantee better rates.

Pat.