Oh sure he will.
I have never, ever made an insurance claim in my life. House, car , bike etc.
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Nice work if you can get it.....
- Thread starter MacDoc
- Start date
Oh sure he will.
I have never, ever made an insurance claim in my life. House, car , bike etc.
Brant Bandit
Well-known member
This is not a complete statement.
If you get quotes through something like my insurance shopper, those rates will INCLUDE commission. Plus, online systems are only so-so at being accurate, and most people using them haven't necessarily given all the right info. There are hundreds of insurance companies in Ontario....not all of them are accessible to the general public online.
Three brokers is not always enough. I'd use three brokers, plus two online direct companies like belair or TD, plus State Farm and Cooperators. Then, if you find someone that you really like, stick with them. Shopping insurance is not fun, and a $100 per year savings isn't worth it to me. Others may vary. Just don't be rude or hostile when you talk to someone on the phone and you'll hopefully get good results and service. Don't open a conversation with something like "insurance guys are crooks and I've been getting screwed. Can you screw me more gently?"
Brant Bandit
Well-known member
My wife works at my brokers office and I have a 15 year professional relationship with this broker. So darn right they will lol. You're lucky to have never had a claim. I've never had a property claim, but got t-boned in my old truck. My broker argued the settlement and helped me find listings of comparable trucks to go back and renegotiate the settlement. Other good brokers will do the same thing for a good client, or should.
Ok, at this point, you're just shilling for an industry that has known political corruption issues in Ontario and is notorious for creative accounting to hide the billions of dollars of profits they extract from a region that pays the highest insurance rates in North America, while benefits are continuously whittled away. All political parties in Ontario thrive off of insurance companies.
The idea that the tone of conversation will lead to lower rates is quite laughable.
The amount of $100 is not worth it to me either, but the principle is. This industry leeches society in amounts like $100 a person.
Brant Bandit
Well-known member
hahahahahahahaha
You don't think that if someone likes you they will do a better job for you or be inclined to give you the best rate available? hahahahaha
I bet you say things like that when you talk to an agent or broker....they would totally be inclined to help you more after that.
You don't like the system, talk to your MPP. There are Government systems in other provinces, but they don't have to deal with the GTA. Anyway, the system is what it is. Clearly we know where you stand....and that's totally your prerogative.
I'm looking for a tinfoil hat emoticon that I can use when we talk about conspiracies here. We should totally have one.
GateKeeper
Well-known member
so 15 years plus with my broker was what, I'll tell you what, a bloody waste of time and dedication, I thought he was after my best interest, well that was a crap load of BS, and I should have been paying more attention over the years, because he sure as heck wasn't, all he did was renew the policies and pocket his commission.....
I only confronted him last year, when out of sheer frustration I decided to make the few calls on my own, and when I confronted him about the savings I found, he had absolutely sweet FA to say, I even asked to match my findings, even this he could not or would not do....
When I called and shopped around I had all my policies in front me, to make sure I was comparing apples to apples.....I was and I saved a bundle, heck almost enough to if I needed I could insure another vehicle.....
I guess after our long relationship he figured I was not going anywhere or was about to do anything.....even now after many months have passed he has never once called and offered to try and match or beat my current policies.....
I guess he has enough suckers, he just don't need me, and neither does the company he works for....cause even they never once called me to find out what was the cause of the cancellation...
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I only confronted him last year, when out of sheer frustration I decided to make the few calls on my own, and when I confronted him about the savings I found, he had absolutely sweet FA to say, I even asked to match my findings, even this he could not or would not do....
When I called and shopped around I had all my policies in front me, to make sure I was comparing apples to apples.....I was and I saved a bundle, heck almost enough to if I needed I could insure another vehicle.....
I guess after our long relationship he figured I was not going anywhere or was about to do anything.....even now after many months have passed he has never once called and offered to try and match or beat my current policies.....
I guess he has enough suckers, he just don't need me, and neither does the company he works for....cause even they never once called me to find out what was the cause of the cancellation...
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GUESS WHO?
Banned
I eagerly await your next discovery. What will it be? The sea is blue? The clouds are white?
Insurance agents/brokers are salespeople, they make a commission, it's common knowledge.
It is your responsibility to ensure that you're getting the best rate you could. It doesn't matter if you have to switch insurance providers or not.
Edit: I almost forgot, the obligatory: holla holla get dollas!
Does anyone really think Winnipeg is a "safer" jurisdiction.
There is room for private insurance and brokers.....but not when liability insurance is mandatory...that's a recipe for collusion.
I give Wiesner business when I can and they tell me when they can't compete. So far they've saved me money on home/auto over what I can find tho I suspect that will change this year.
Banks were never supposed to be in the insurance game ( nor mortgages ) and these finance sectors were kept separate in law for good reason.
At one time you had cooperativer insurance companies that policy owners shared.
It's just a symptom of the wider predatory nature of an uncontrolled finance sector that think they are privileged.
They have forgotten and the government has forgotten that both banks and insurance companies are chartered.
The gov is too chicken to take control back....the finance sector knows it.
The worst part of it is fractional lending....where $1 million in capital can be "rented it" 20-30 times at teh same time.
Little wonder the choicest real estate always belongs to these clowns...other peoples money buys it for them.
2008 was a crunch - the upcoming one will likely be worse.
We have gutless politicians who do NOT look after the public weal....Ontario vehicle insurance is just one instance.
AND the insurance industry blames high premiums on it's inability to deal with fraud.....and of course the gov't swallows the line.
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Dresden
Well-known member
My former insurance agent didn't mind telling his cut of the $550 I paid is so small he uses the bike insurance almost as a loss leader to get all my other insurance needs. Ever been pinned down in the corner office for an hour as your insurance agent attempts to "sell himself"? Now I do it over the phone with a sweet young thang.
Not meaning to be disrespectful MacDoc but you know so little.
Re the commission, I don't have a problem with the agent getting 14% (The average per a buddy who is an agent) He gets that for answering a dozen calls all from people looking for a miracle premium. Most of the time is wasted but once a sucker is hooked many stay on the line.
In my case he got me a super price by analyzing my van usage and finding a niche category that worked. Then it all went downhill.
He isn't interested in any business that is high risk because there can be repercussions from the insurers if you bring them too many clients that make claims.
Read my post in cruising / touring re travel insurance and paranoia. He threw me to the wolves. Similarly with my business insurance.
Question: If you hired a trades person to work on your home / bike / car on an hourly rate would you be annoyed if they spent 10 - 20% of their time on their phone surfing the net, texting friends etc? Would you accept the bill?
Insurance companies don't mind staff wasting time because the wasted time still shows as overhead and they can run to the government and get rate increases.
Fraud??? Why bother paying to investigate?? Just pass the costs on to the consumer. Why don't the police investigate fraud????
So we're supposed to get a 15% rate reduction. However bikes are not included as they are considered recreational. What payouts are they going to cut to keep profits up? I am also told that bike insurance is not No-fault. I have yet to look into that and the consequences.
Compensation if you are injured in a not-at-fault is pathetic up here compared to the USA and they pay less.
The biggest problem is that the insurance companies have had it so good for so long that if they are put on a diet their empires will collapse. No publicly owned corporation can take a major profit loss and survive.
I haven't scratched the surface yet.
HarleyHare
Well-known member
Everyone is missing the reason for the big difference in insurance rates between Ontario and the U.S. and it ain't because of the piddly commissions. In most states compulsory insurance sees the public pay only a couple hundred dollars insurance premium that provides insurance protection for only few thousand dollars of 3rd party liability (bodily injury) coverage, generally in the range of $10,000 to $25,000. http://drivinglaws.aaa.com/laws/liability-laws/ In Ontario, as also with most other provinces, the minimum coverage required by law is $200,000 but most insurance companies pressure you to buy $1 million minimum coverage.
The bright side of this is, if you get into a huge claim you won't go bankrupt, whereas an American can easily be on the hook for damages in excess of their minimum coverage and will go bankrupt. And we wonder why the US is so litigious? Visit any medium to large US city and check the yellowpages if your room still has it, and easily 1/3rd of the book is a listing of lawyers for hire.
The bright side of this is, if you get into a huge claim you won't go bankrupt, whereas an American can easily be on the hook for damages in excess of their minimum coverage and will go bankrupt. And we wonder why the US is so litigious? Visit any medium to large US city and check the yellowpages if your room still has it, and easily 1/3rd of the book is a listing of lawyers for hire.
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How do I get a job where I can spend half the year in Australia?
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