Canada Insurance madness! NEVER go online!

Mach-1 is pricy. Well, it's been a really interesting time of it, searching for insurance in Toronto. What I did find out is that I reside in the
most expensive part of the most expensive city to have auto insurance in, in Canada, that is.
Here's how it's shaped up; Prices are in U.S. dollars, add 20% for Canadian. The first quotes I did were online, with those automated policy companies, some of them banks, etc.
My record; 43 year old, with no tickets and no claims in 7 years. However, one small catch; The insurance I last had was over a year ago. After that, my car was covered under a company fleet policy, which was an arranged part of my pay package. But, I didn't see the downside, which is that this is a no-no to insurance companies. Constant insurance = lower rates. That one year break was BAD! Never mind the perfect driving record.
Here's how it's shaped up; Prices are in U.S. dollars, add 20% for Canadian. The first quotes I did were online, with those automated policy companies, some of them banks, etc.
$6400-$10,000. Pretty frightening, huh?
At that point, I realized it would cost me as much as the car to insure it. I seriously considered getting rid of the vehicle, because the cost for the car would be something like $22,000/yr, all inclusive.
So, I called some insurers whom I'd been given the names of.
Company 1. Sorry, we don't insure people who have had a lapse in their personal insurance. You have to go to "facility."
"Facility" is a horror word. It's the government's mandate that people who are uninsurable are insured because they have to have insurance. The cost is astronomic. For instance; A 20 year old driving a sedan forced to go to facility in Ontario would pay around $18,000/yr. I'd sooner use the money to pay the mortgage on a house!
Company 2. My old company. They weren't too interested because I'd opted out of their policy ($1000 payout) in order to do the thing with my company. Quote: $5900. Better, but still stratospheric.
Company 3. Well, because you lapsed your insurance, you're looking at $4355.00 for the year. However, if you go one year at that rate, it would be $2800 the following year which is what you'd be paying if you hadn't lapsed." This is pretty acceptable.
Company 4. $8500.00. Bye now.
Company 5. No answer yet.
So, it's been really exciting. Oh, for Torontonians; If you move to Mississauga, Newmarket, etc, out of Toronto, you're insurance will be 1/3rd less.
-Rich
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ouch, in B.C. we have govt iinsurance, much cheaper, $1950 can. for the 05 Gt with 4 year accident free discount. the full load including, new replacement, roadside assistance, under insured protection, liscence, tranfer fees.
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On Mon, 14 Feb 2005 21:36:34 GMT, snipped-for-privacy@shaw.ca wrote:

You have to have six years no claims to qualify for a discount in Ontario. I qualified! -Rich
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Where in B.C? I live in Vancouver and I was quoted $2600 for a 05 GT and that's with 10 years of accident free driving.

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Kelowna, difference must be all those Foreigners with fake drivers licenses at the coast.
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On Wed, 16 Feb 2005 18:55:16 GMT, snipped-for-privacy@shaw.ca wrote:

Part of that accounts for Toronto's rates too. They busted a group of driving testers at our government facilities who sold 3000 "passes" to the Chinese community. In other words, if you have to drive in Toronto, AVOID Markham. If you get totalled there, the insurance company of the unauthorized driver can make a case to avoid payment. -Rich
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I forgot to mention that I also got a quote for the 05 Chrysler 300C and it costs $500 less than a 05 Mustang GT. I guess ICBC forgot that this car is just as fast and has 40 more hp and not to mention that it costs $10K more in Canada. Insurance companies probably figure that mustang drivers are reckless and young.

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wrote:

This could be SO easily disproved. But the Insurance Bureau of Canada (the creeps who provide companies with "statistics" for rating purposes) won't distribute the data to the general public. Contrast that with the U.S. You can easily see why some of those Japanese things should cost twice as much as the Mustang to insure. For instance, the Tiburon is about twice the average cost of a GT Mustang when it comes to claims. -Rich
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I also live in Toronto (Scarborough to be exact) and I am 40 yrs old, with also no tickets and no claims in 7 yrs. I pay $4,500.00 per yr and consider myself lucky to get that rate! Collision is the huge $$$ factor in my policy. Maybe I'll just say I moved to Mississauga ;)
Gumby '04GT

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They have a different story each time you talk to them. Collision costs is one. And that in itself is such rubbish. My 1988 LX was FAR more easily "thrown out of control" than my Mach-1 and yet if I insured it, it would be about 1/3 the cost. Sure, it isn't worth nearly as much, but what about the car I was more likely to crash into, or the medical bills I might generate if I did crash? The insurance industry are SCUM. They had record profits in the last three years. BTW; Some kind of rate change took place yesterday, I believe. -Rich
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Thanks for the info about the rate. I'll check into it. I seen a Mach-1 in the show room at Heritage Ford when I was shopping around. Great looking car!
Gumby '04GT
wrote:

with
consider
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In Saskatchewan, a 2005 FORD MUSTANG GT, the registration and insurance for this vehicle is $1,662.00 CDN per year. This is with a $700.00 deductable. Age has no effect on the price
Bill
4ax.com:

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Bill wrote:

    Having lived there for 20 years all I can say is;
    "Yeah, but its _Saskatchewan_".
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Again.. Ontario supports the rest of the country.

I ran into a similar lapsed deal when I was considering getting back into bikes. They wanted like 150% the price of the 2 year old Goldwing I was looking at. Because I hadn't had one for a few years, I would be considered a new rider.. yeah right! Was 51 at the time, clean record, been a licenced rider for 35 years, ridden everything from choppers to cruisers to sport bikes....needless to say the impulse was quashed in a large hurry.

Vindictive bastids aren't they!

Thinking this sounds familiar.

Missy & Newmarket are close to rural areas, just don't tell them you work in Toronto!

--
Jafo
'02 GT Black
  Click to see the full signature.
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your right, time to dissolve this farce of a confederation called canada.
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Jafo wrote:

    Bullshit. Ever hear of a place called Alberta? Did you know we are debt free? I wonder how much we got last year in equalization payments??? Maybe zero? Twit.
    
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Oh yeah.. Alberta that place west of here.. got one main street called the Trans Canada Highway. .. minja that puts it on the same level as most of Ontario north of the Soo.
--
Jafo
'02 GT Black
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Alberta would be much better off out of canada.
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On Tue, 15 Feb 2005 07:26:32 GMT, snipped-for-privacy@shaw.ca wrote something wonderfully witty:

The US pissed Bill Gates off enough to almost make him buy it and move his entire empire there.
--
"Either kill me or take me as I am,
because I'll be damned if I ever change..."
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Hey RichA and all the others,
I got quoted for the following cars 1) 2004 Mustang GT $2,100 for the year 2) 2005 Mustang GT $2,500 for the year
Both these quotes are full full coverage!
I am in Hawkesbury Ontario which is basically in the country......................
Just so you guys can bench mark yourselves I guess..........I am 27 with a clean record...........
My 85 GT is $336 for 6 months with everything but collision. I think I will keep on goin with my 85 GT
Steph

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