from m1 to m2, does insurance cost change? - Page 2



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Thread: from m1 to m2, does insurance cost change?

  1. #21
    fyrebug's Avatar
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    Re: from m1 to m2, does insurance cost change?

    hmmm, well now I'm really confused...
    nothing a little calling around won't fix though.

    I'll of had the m1 for all of 40 days, and I let my G2 expire a few years back... so sounds like I might be screwed safety course or not.. or might not be screwed from what a few are syaing. jevco and duffy are the 2 places on my list to call. SF won't touch me due to the g2 expiring.

  2. #22

    Re: from m1 to m2, does insurance cost change?

    Quote Originally Posted by Avi Singh View Post
    Which insurance company is that with? If it's Jevco, the license class had nothing to do with it.

    I'm with TD - Meloch Monex....

  3. #23

    Re: from m1 to m2, does insurance cost change?

    Quote Originally Posted by VifferFun View Post
    Did it drop by $150 year when your policy renewed? I can guess that your decrease has absolutely nothing to do with obtaining your M2.
    As soon as I passed the course and went to the MTO to upgrade to M2. I called my Broker and they immediately passed on the savings. eg. with M1 paying $750 / year, M2 $600.00 / year. My next months premiums were based on the $600.00 / year rate. At the time I was only 2 months into my policy...

    But I'm not sure the drop was a result of M1 to M2 or because I took an approroved MSF course through Centennial....

  4. #24
    VifferFun's Avatar
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    Re: from m1 to m2, does insurance cost change?

    Quote Originally Posted by 250R-ICE View Post
    As soon as I passed the course and went to the MTO to upgrade to M2. I called my Broker and they immediately passed on the savings. eg. with M1 paying $750 / year, M2 $600.00 / year. My next months premiums were based on the $600.00 / year rate. At the time I was only 2 months into my policy...

    But I'm not sure the drop was a result of M1 to M2 or because I took an approroved MSF course through Centennial....
    I'm guessing it has nothing to do with the M1 -> M2, but Avi can confirm.
    I'm an Actuarial Analyst for a Major Canadian Insurance Company. I analyse claims patterns to determine overall rate changes, as well as relative premium differences by various risk characteristics (eg. age, experience, claims, convictions, usage, etc.)

    Unless it's private, please post insurance-related questions in the forum rather than sending me a PM.

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