Nearly 400% increase? | Page 2 | GTAMotorcycle.com

Nearly 400% increase?

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Audicy said:
Update. Well it looks like I found several companies offering much better pricing. While of course they’re still an increase it’s closer to 100% rather than 400% increase. I can deal with my insurance being doubled for year after an at fault claim. So I just have to pick between two that I’m looking at and will be moving all my bikes and cars and house over to that.

With multiple policy discount that hundred percent increase will then be closer to 75% and conveniently all of our insurance due this month for renewal.

Thanks everyone for their help looks like it will work out however I was scared for a bit there. Lol


2014 Ducati Monster 796
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Unfortunately, I have bad news for you. You keep saying that you can handle it being higher for a year. With an at fault claim on your record, you will continue to pay the higher premiums for at LEAST 3 years or as long as 7 depending upon your new companies underwriting rules. it sucks, but it is the Ontario Insurance racket.

Your situation is a GREAT example why people should SERIOUSLY pay the extra $40 - 50 per year for claim forgiveness. Had you done so you would be seeing no increase, (other than the normal 15 - 20%), that companies tack on each year just because they can.
 
First. Shop around. But you’re an insider who already knows this.

Second. Don’t bite the hand that feeds you, at least, until you’ve found a new hand.

Third. You now have a perfect driving record. 1 accident since 0 previous years of driving. It’s easy to see why your rates would rise, and if there’s significant correlation, between one accident and another, then that may explain why they went up that much. Otherwise, they may only want people with the other perfect record, and tried to price you out of their market.

Also, beware the companies who try their hardest to avoid paying out on legitimate claims.
 
I don't get why the OP says he still has a clean record....he doesn't, as he clearly said he has 1 at fault that just happened. Granted if he had accident forgiveness on his policy, then in theory there should have been no increase at all, with that company (others would still rate him with an at fault).
 
Hack said:
Look at it this way... I have a friend who was involved in a plane crash and survived.
You'd think she'd never want to fly ever again, but she does.
Why?
Because what are the odds of being in TWO plane crashes?
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Everyone knows aviation is the safest mode of transportation of them all.

The odds of experiencing an at fault claim in a airplane are nil.

However, operation of a motor vehicle?

In any event, I didn’t mean to rub the OP the wrong way. They found another insurance company that will allow them to have coverage at a more reasonable rate.

Still think $3000ish after having injuries and at fault claim isn’t bad considering their premiums before this was less than a $1000.

But that’s me.




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Last edited:
nakkers said:
Everyone knows aviation is the safest mode of transportation of them all.

The odds are of experiencing an at fault claim in a airplane are nil.

However, operation of a motor vehicle?

In any event, I didn’t mean to rub the OP the wrong way. They found another insurance company that will allow them to have coverage at a more reasonable rate.

Still think $3000ish after having injuries and at fault claim isn’t bad considering their premiums before this was less than a $1000.

But that’s me.

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I know people with actual clean records that are paying that much
 
Thank goodness for accident forgiveness. I had one at fault in my car in 2016. My first at fault accident in 40 years of driving. When I shopped around for alternate rates from TDMM (out of curiosity) I was getting ridiculous amounts because of that single claim. So I stuck with TDMM and my rates have stayed the same.
 
Hack said:
Look at it this way... I have a friend who was involved in a plane crash and survived.
You'd think she'd never want to fly ever again, but she does.
Why?
Because what are the odds of being in TWO plane crashes?
Click to expand...

That’s not how odds work. Ask a mathematician. You have the same odds regardless of past history. It’s a myth that history can change future odds.


2014 Ducati Monster 796
20** Ducati (shhhh, it’s a secret)

Sent from my iPhone using Tapatalk
 
hedo2002 said:
Unfortunately, I have bad news for you. You keep saying that you can handle it being higher for a year. With an at fault claim on your record, you will continue to pay the higher premiums for at LEAST 3 years or as long as 7 depending upon your new companies underwriting rules. it sucks, but it is the Ontario Insurance racket.

Your situation is a GREAT example why people should SERIOUSLY pay the extra $40 - 50 per year for claim forgiveness. Had you done so you would be seeing no increase, (other than the normal 15 - 20%), that companies tack on each year just because they can.
Click to expand...

I agree. I had it with my previous company. But the wife wanted to move everything to this broker and enjoy the multiple policy discounts. Well that worked well.


2014 Ducati Monster 796
20** Ducati (shhhh, it’s a secret)

Sent from my iPhone using Tapatalk
 
conundrum said:
I don't get why the OP says he still has a clean record....he doesn't, as he clearly said he has 1 at fault that just happened. Granted if he had accident forgiveness on his policy, then in theory there should have been no increase at all, with that company (others would still rate him with an at fault).
Click to expand...

I said one accident and a clean drivers abstract. Meaning zero fines or convictions.




2014 Ducati Monster 796
20** Ducati (shhhh, it’s a secret)

Sent from my iPhone using Tapatalk
 
Audicy said:
That’s not how odds work. Ask a mathematician. You have the same odds regardless of past history. It’s a myth that history can change future odds. 2014 Ducati Monster 796 20** Ducati (shhhh, it’s a secret) Sent from my iPhone using Tapatalk
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Talk to an Actuarial Scientist instead, there you'll find out that habits and training have an important role to play.
 
Baggsy said:
Talk to an Actuarial Scientist instead, there you'll find out that habits and training have an important role to play.
Click to expand...

But that’s not what he inferred. While habits and training may influence outcome, the mere fact of previously being in an accident itself does not.

Contrary to popular belief, every single time you flip a coin you have the same 50/50 odds regardless of previous outcomes.

However, as you are stating, other factors such as training (to influence outcome) will.


2014 Ducati Monster 796
20** Ducati (shhhh, it’s a secret)

Sent from my iPhone using Tapatalk
 
Audicy said:
But that’s not what he inferred. While habits and training may influence outcome, the mere fact of previously being in an accident itself does not.

Contrary to popular belief, every single time you flip a coin you have the same 50/50 odds regardless of previous outcomes.

However, as you are stating, other factors such as training (to influence outcome) will.


2014 Ducati Monster 796
20** Ducati (shhhh, it’s a secret)

Sent from my iPhone using Tapatalk
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Contrary to your logic. Driving a vehicle is not flipping a coin.
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