Rage over insurance rates

Canadian auto insurance rates are going to cost some politicians jobs. Rates have increased (depending on where you live) from anywhere from 20-70% in one year.
The insurance companies (they plead poverty but are the only ones aside from the banks who can afford the largest buildings in major cities) have been losing money in the stock market (like everyone else) and have decided to take it out on the insurance customers. People have been "driven" out of their cars because of this. But it looks like the hammer will fall soon, as most politicians are threatening the monopolistic insurance companies with forced reductions. But the insurance industry is getting a break. The governments are going to limit the rapidly increasing rates of accident claims, (what people can get for accident claims) insurance scams, etc. Lawsuits are up 50% in a couple years over accidents. Also, the auto companies are not innocent either. They have been raising the prices of replacement parts by more than 10% a year for the last few years as well as the labour charges they levy when doing body and drivetrain work.
What I'd like to know is, since everyone else seems to be aware there is no inflation to speak of, why do the insurance and auto companies pretend its 1979 and we have 13% inflation? -Rich
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This sounds similar to the good ole USA. Insurance companies here have the largest and biggest buildings. They can afford these luxuries with the rates they charge of several thousand dollars a year to drive your car. I just got a quote for a 2001 Mustang GT and a 2000 Ford Ranger, for an unreasonable amount of $6000 per year.
Stoneman
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Does your state have mandatory insurance laws?
wrote:

----------------- Jim '88 LX 5.0 (now in car heaven) '89 LX 5.0 vert '99 GT 35th Anniversery Edition - Silver Mods to date - Relocated trunk release to drivers side, shortened throttle cable.
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Absolutely!
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That doesn't make any sense. If "everyone" has insurance then claims for uninsured drivers will be less making your cost less (not having to pay for people who don't buy insurance). There must be some other reason rates in these states are higher.. like more claims per driver.
LJH 95GT

cable.
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Guess it's a moot point as the vast majority of states have mandatory insurance laws. Somehow it seems right that ALL people be responsible for their driving and any damage and/or injuries they cause regardles of their exonomic circumstances.
LJH 95GT

throttle
cable.
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On Sun, 13 Jul 2003 18:27:27 GMT, "Larry Hepinstall"

I agree that it "seems right". But the problem is, the people like most of "us" won't be getting enough protection from the minimums so we wind up buying EXACTLY the same insurance (with much higher coverage then the legal minimums) that we would anyway even if it wasn't mandatory. So making it mandatory doesn't help "us", it simply makes our costs higher. The proof is in the studies that have shown over the years that states with mandatory insurance almost always have higher rates then states where it is not mandatory. Since you and I are going to buy it whether it's mandatory or not, which is the best deal for "us"? ----------------- Jim '88 LX 5.0 (now in car heaven) '89 LX 5.0 vert '99 GT 35th Anniversery Edition - Silver Mods to date - Relocated trunk release to drivers side, shortened throttle cable.
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I have a very good driving record and am over 30. These ridiculous rates are in the Midwest and many people I know with several cars are now parking some of them due to high insurance. The insurance companies are out of control.
Stoneman

the
rates
got
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wrote:

I'm not and those two vehicles would cost about $8000/yr in Toronto to insure. -Rich
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On Sat, 12 Jul 2003 00:31:08 GMT, snipped-for-privacy@rogers.com wrote something wonderfully witty:

Well I'm a Golden Oldie with an `01 drop-top, an `02 Astro, a `98 Olds Achivea and a `99 Harley FXSTC. Total nut for the year is ~$1900US for full coverage on each with emergency roadside & towing. I also have two teenage drivers on the auto policy. Just me on the bike policy.
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the
rates
just got

unreasonable
I'm 25 years old... just clearing some of my speeding tickets off, and currently insure:
1997 Mustang Cobra - full coverage 1988 Mustang LX 5.0 - liability 1989 Probe GT Turbo - liability 2001 Ninja ZX-6E - liability
I pay approximately $2500/yr for all of them. I'm the only driver on the policy, completely own the titles to everthing listed above, and have gone a couple of years without any moving violations. I'm still waiting for my last ticket (4/14/01) to drop off. Living in PA with Progressive.
JS
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Jeez, i'm paying 1800 on one vehicle, public liability, female driver, 21 y/o in newfoundland, Canada, with no tickets.
That's why politicians in Canada are goting to loose jobs.

have
the
a
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Does Canada have Mandatory Insurance laws??
On Fri, 11 Jul 2003 03:07:17 GMT, snipped-for-privacy@rogers.com wrote:

----------------- Jim '88 LX 5.0 (now in car heaven) '89 LX 5.0 vert '99 GT 35th Anniversery Edition - Silver Mods to date - Relocated trunk release to drivers side, shortened throttle cable.
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I dunno, what's a "mandatory insurance law?"
Brad S
wrote:

cable.
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It means that you HAVE to have insurance to drive. And yes we do. Gagan
wrote:

throttle
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Mandatory is: You better have car insurance if you drive on the road. I don't know of any state here in the US that doesn't require some sort of insurance.
--
Greg B.
'01 V6 Convertible Premium Trim Option
  Click to see the full signature.
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wrote something wonderfully witty:

Several don't. I know for a matter of fact Va doesn't. However, if you do elect to drive without insurance you must post a bond. I believe it is $25k in Va.
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LOL... I can only laugh because it's so undeniably true. What passes for our "education" system is a sick joke. We're devolving right before our eyes!
LJH 95GT
wrote:

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