No fault insurance

[4extreme]

My son, who's 18 just got his first renewal for car insurance, had his insurance go up by $1200. He phone and inquired why and they said it's because of the alberta gov't bringing in no fault insurance. He was Already paying crazy premiums, but this is nuts. $1200 increase and he has a clean licence. At least he is starting to realize that the govt is not out to save or protect you. They are out to steal every last cent you make.

 

[ABMax24]

I've got a renewal since this went into place, my insurance actually went down just a little.

His insurance company is screwing him and is blaming the government for their greed.

Time to shop around.

 

[firstdoo]

I believe that a portion of the insurance premium is based on driving record (good, bad, new, etc). The other portion is now based on actual vehicle value.
The new rules are if you are in a collision, your insurance company covers the cost of repairing your vehicle. Our renewal for 2022 was done before the new system came into effect.
During our next renewal I am going to assume that the policy on our Equinox will drop quite a bit. My 2015 GM 3500 will most likely go up. Not sure if there is a change on pricing with recreational vehicles though (trailers/sxs).

 

[4extreme]

I believe that a portion of the insurance premium is based on driving record (good, bad, new, etc). The other portion is now based on actual vehicle value.
The new rules are if you are in a collision, your insurance company covers the cost of repairing your vehicle. Our renewal for 2022 was done before the new system came into effect.
During our next renewal I am going to assume that the policy on our Equinox will drop quite a bit. My 2015 GM 3500 will most likely go up. Not sure if there is a change on pricing with recreational vehicles though (trailers/sxs).

They said it was higher because of the vehicle he drives. 2005 g35x. They said it's more expensive to repair. We replace every suspension component in the front and it cost less than a $1000. Maybe it's the body shops that is causing prices to increase. It would probably cost the same or more for my truck to replace the same parts

 

[Cyle]

Didn't hear about this, it's retarded though. I get that insurance companies waste a lot of money fighting about who's at fault, but in so many cases especially with dash cams it's cut and dry, I can see the no fault if it's not a easy case but otherwise it's so stupid. Stupid people can drive like idiots with even less concern now because everyone else knows if they get into an accident, even if not at fault it's going to cost them. My commercial auto went up an insane amount last year for no reason, and now with this BS probably going up even more. The part I find crazy is I never got any sort of paperwork from my insurer about these changes, so technically up until the renewal this year, you could tell them to pound sand and do it the old way if you wanted to.

 

[Cyle]

Just read up on it, it's not actually no fault. It's that you deal with your own insurance even if not at fault, but the at fault person still gets dinged by their insurance company. In some ways it's better because if you have a 1 year old vehicle written off and deal with other drivers insurance, they always say they don't have to pay replacement or other things because they don't hold your policy and only pay what vehicle is worth. The only thing I wonder is, if you're in a few not at fault accidents and your insurance is paying out a bunch, how are they not going to raise your rates or drop you? Are they getting compensated from the other insurer?

 

[ABMax24]

Maybe insurance companies are different, but I was rear ended last year in my wife's truck. All I did was send the other guys info to my insurance company and they took care of it. I wasn't at fault so deductible was waived, took less than a week for approval for the claim, and got the body shop of my choosing.

This is with The Co-Operators FWIW.

 

[campingnut]

Insurance companies no longer collect from the other insurance company. As for the the above if it was before Jan of this year then it was the old way. Yes I believe every bodies insurance will go up because of this as a safe driving record will not be as important to insurance companies only what it will cost to fix the vehicle.

 

[2kDoo]

Has he told his insurance he identifies as female and wants lower rates?
Serious question

 

[4extreme]

The impression we got was it didn't matter who was at fault each drivers insurance deals with their own car. And they said because he drives an Infiniti that was another reason his rates were up. Cost more to fix an infiniti than a ford escort.

 

[Cyle]

Insurance companies no longer collect from the other insurance company. As for the the above if it was before Jan of this year then it was the old way. Yes I believe every bodies insurance will go up because of this as a safe driving record will not be as important to insurance companies only what it will cost to fix the vehicle.

I also wonder then if someone will be penalized with higher rates for being in more then one not at fault accident if it's costing their insurance company money. I'm sure having at fault accidents will cause premiums to go up still even if you switch companies, but my guess is now being in any accident will cause premiums to go up.

I've always found it was stupid that the premium for collision was not based off of vehicle value, it does make some sense to based it off of what the vehicle is worth. I wonder if companies will be better tracking mileage on the vehicles? Just knowing the year make and model doesn't tell what it's worth, a truck could be worth $30k or $60k depending on condition and mileage.

 

[Cyle]

The impression we got was it didn't matter who was at fault each drivers insurance deals with their own car. And they said because he drives an Infiniti that was another reason his rates were up. Cost more to fix an infiniti than a ford escort.

No that's wrong, go look it up. They published a whole section of different accident scenarios of who's at fault for insurance companies to follow. Yes it doesn't matter whos at fault in the sense your insurance company pays to fix your vehicle, unless you're at fault and no collision coverage. But it's still a strike against your driving record if at fault. How much your premiums will change if you were at fault compared to not, who knows.

 

[Cyle]

Has he told his insurance he identifies as female and wants lower rates?
Serious question

I am going to have my broker run the numbers at renewal time to see if changing driver to female or unspecified would lower my rates. It better not, but if it does it will be getting switched. Might as well get some benefit to this stupid BS.

 

[drew562]

I am going to have my broker run the numbers at renewal time to see if changing driver to female or unspecified would lower my rates. It better not, but if it does it will be getting switched. Might as well get some benefit to this stupid BS.

Ha ha. I’m gonna check if my self identification will save me money to. You know whats funny with insurance. I’m in my 50s now. My next younger brother‘s 48 yrs old. We both have 2022 skidoo turbo‘s from the identical dealer for identical price. We also have 2022 super duty‘s identical dealer identical trucks. His insurance is 10% lower than mine. I called to dispute my rates and they said it’s cause I’m older. We have identical driving records clean licenses also. The bullch!t they told me it’s from 51 on your insurance will go up every year as you age

 

[Cyle]

Ha ha. I’m gonna check if my self identification will save me money to. You know whats funny with insurance. I’m in my 50s now. My next younger brother‘s 48 yrs old. We both have 2022 skidoo turbo‘s from the identical dealer for identical price. We also have 2022 super duty‘s identical dealer identical trucks. His insurance is 10% lower than mine. I called to dispute my rates and they said it’s cause I’m older. We have identical driving records clean licenses also. The bullch!t they told me it’s from 51 on your insurance will go up every year as you age

That's weird never heard that, it makes no sense. It seems like anything different is a reason to raise rates though. My commercial auto jumped about 50% because it was originally rated for around spruce grove because I was on a acreage there, but because it's commercial and my work is edmonton and area it had to be rated for that area. Such BS. And that was with 3 vehicles with 1 driver. No discount for adding another vehicle without a driver. It's like they think you can drive more then one at a time.

 

[4extreme]

That's weird never heard that, it makes no sense. It seems like anything different is a reason to raise rates though. My commercial auto jumped about 50% because it was originally rated for around spruce grove because I was on a acreage there, but because it's commercial and my work is edmonton and area it had to be rated for that area. Such BS. And that was with 3 vehicles with 1 driver. No discount for adding another vehicle without a driver. It's like they think you can drive more then one at a time.

I told my son to get his drivers changed to his grandma address in Hanna. He is going to be working out of town so he could have an address anywhere he wants. When I checked into insurance for the Hanna area it was about half what I`m paying for Edmonton.

 

[campingnut]

Yes my rates went up when I moved back into Calgary from living out of town

 

[firstdoo]

I believe that a portion of the insurance premium is based on driving record (good, bad, new, etc). The other portion is now based on actual vehicle value.
The new rules are if you are in a collision, your insurance company covers the cost of repairing your vehicle. Our renewal for 2022 was done before the new system came into effect.
During our next renewal I am going to assume that the policy on our Equinox will drop quite a bit. My 2015 GM 3500 will most likely go up. Not sure if there is a change on pricing with recreational vehicles though (trailers/sxs).

This response didn’t age well for me. Just got my renewal for everything. Wife got a bs distracted driving ticket (peace officer in Stony being a douche and no chance of beating it in court) and I had 2 minor convictions (failure to yield and 10 over speeding).

Last years rates were (full coverage on everything but sled) 500 deductible on Equinox, 1000 deductible on DMax.
SUV 1068
DMax 1499
Summit 272
House 1842
Total 4681

This years renewal. Same coverage but the SUV deductible is now 2500.
SUV 1918
DMax 2850
Summit 297
House 2101
Total 7166
Increase 2485.

Made a few calls and can’t get a lower rate without dropping full coverage (not doing that). The $1300 increase on the DMax was a shock. Still need to call my broker and see if they can do anything.

Anyone know any good brokers? Would it be better if the wife gets her own policy with a different insurance company? Paying $8200/year for insurance is getting ridiculous (5’er trailer insurance is 1100).

Not sure what will happen once the 15 year old gets his learners. Will ask this afternoon once I talk to my current broker.

 

[ABMax24]

Looks like most of your increases are on your 2 primary vehicles. I'd say that's due to the new tickets more than anything.

 

[sirkdev]

Yikes will have to look at mine, I would have to think this is from the ridiculous increase on vehicle prices lately