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I moved from London to Toronto in 2007 and Toronto to Barrie in 2008. Based on my experience (no changes in policy or my indicators except for postal code) and only a car.
London = $X
Toronto = ~$2X
Barrie = ~$1.75X
Only saw a minimal drop in rates when I moved to Barrie.
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)
Someone like Platinum_Cycle could better explain the reasons why Brampton claims (severity and/or frequency) are much higher than the rest of the province.[/QUOTE]
Yikes, I don't even want to touch that one with a ten foot pole here, I can only imagine how much people would jump down my throat.
Let's leave it at this, there are more accidents in Brampton than in other areas with similar populations. And, when it comes time to settle those claims they cost more than claims which occur in other areas. And no, they don't cost more because everyone in Brampton drives very expensive cars that cost a lot to repair / replace. There are other factors driving up the claims costs.
Again, lots of accidents, that cost a lot to settle = high premiums in Brampton.
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