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Long story short:
Next June I'll have my M2 for one year, September of that year I turn 25.
Is there anyway to negotiate to pay more than I would when I turn 25 (or held my M2 for a year) prior to that happening but not paying the ridiculous **** tons it costs during year 1 and prior to 25?
Thanks ahead of time. Otherwise I may just suck it up this time.
I've never heard of insurance companies negotiating premiums except by reducing coverage. I don't know if a sliding scale is built into the rate structure already.
I can see the June marker as being a factor but the September one is getting close to the end of the season.
No -- insurance rates are not negotiable. Even if the insurer wanted to negotiate with you, they are not permitted to do so by law. The broker/agent MUST quote you a premium using the rate manual that is filed with the regulator.
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.
Current: 2001 Suzuki GSXR1000 (4th Season)
Previous: 1996 Honda VFR750F (4 Seasons)
Previous: 1998 Kawasaki Ninja EX250 (3 Seasons)
What you can do is give them a call when you turn 25 and tell them you're now 25. Depending on who you're with, they may send you a rebate based on the premium difference for the remaining months in your fiscal year you've already paid for. I got a few hundred bucks back by doing this, so it's worth a try.
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