Changes to Ontario Insurance Requirements

[bitzz]

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Insurance is a bet.
Used to be, the bet was if you were going to cause an collision, based solely on YOUR driving record
With No fault, the bet is if you are going to be in an collision, based on YOUR and EVERYONE else's driving record. No fault insurance rates are based on the 50 percentile. Everyone above the 50 percentile subsidizes everyone below the 50 percentile. If you're a good driver you lose, if you're a bad driver you gain.
There's too many bad drivers.
AND way too much fraud

 

[bitzz]

But this latest bit is political theater.
Doug Ford gets his name in the paper, where it looks like he, and his party, are doing something for the people... but if you READ the article he didn't really

 

[ReSTored]

This a typical government BS to fool you into believing they are reducing insurance cost...............

My perspective on saving money on vehicle insurance is that all coverage remains exactly the same, but the cost is reduced. But I guess that's just too simple a concept for Doug or your local MPP to understand.........

Government and insurance lobby BS is that you now have "choice".................. You effectively reduce your coverage and your premiums go down, There is no savings here. You are purchasing less coverage and your cost is less.

Here is a great Doug Ford plan to save money on groceries. I currently buy 2 KG. of ground beef a week at $10 a KG, $20 in total. Doug meets with various industry experts. He also invites them to attend his daughter's Doe and Stag party and also donate thousands of dollar to his political party. After much research and contemplation Doug then suggests I buy 1 KG of ground beef for a total cost of $10 a week. Doug has saved me 50% of what I spend on ground beef a week, he is a hero. Thank you Doug!

Next project for Doug and team is saving you money on gas and home heating. You now drive 500km a week and Doug recommends you drive 250 KM, this results in a 50% savings on gas. Also you presently heat your home to 20C and Doug says you should reduce this to 12C. Big savings here as well. Again, thank you Doug, you're amazing.

 

[Evoex]

This a typical government BS to fool you into believing they are reducing insurance cost...............

My perspective on saving money on vehicle insurance is that all coverage remains exactly the same, but the cost is reduced. But I guess that's just too simple a concept for Doug or your local MPP to understand.........

Government and insurance lobby BS is that you now have "choice".................. You effectively reduce your coverage and your premiums go down, There is no savings here. You are purchasing less coverage and your cost is less.

Here is a great Doug Ford plan to save money on groceries. I currently buy 2 KG. of ground beef a week at $10 a KG, $20 in total. Doug meets with various industry experts. He also invites them to attend his daughter's Doe and Stag party and also donate thousands of dollar to his political party. After much research and contemplation Doug then suggests I buy 1 KG of ground beef for a total cost of $10 a week. Doug has saved me 50% of what I spend on ground beef a week, he is a hero. Thank you Doug!

Next project for Doug and team is saving you money on gas and home heating. You now drive 500km a week and Doug recommends you drive 250 KM, this results in a 50% savings on gas. Also you presently heat your home to 20C and Doug says you should reduce this to 12C. Big savings here as well. Again, thank you Doug, you're amazing.

huh? The very first sentence shows they aren't fooling anyone...

Ontario drivers will soon be able to reduce their auto insurance payments by opting out of certain coverage.

 

[Relax]

Of all the things they allow us to opt out of, it's probably the one thing most people actually want. Why not make some of the potentially redundant accident benefits optional, which makes up the majority of the insurance premium:

- Income replacement - covered by the STD and LTD policies through work, plus my own LTD policy
- Caregiver - I have no dependents
- Housekeeping and home maintenance - covered by my wife
- Death and Funeral expenses - covered by my life insurance policies

 

[GreyGhost]

Of all the things they allow us to opt out of, it's probably the one thing most people actually want. Why not make some of the potentially redundant accident benefits optional, which makes up the majority of the insurance premium:

- Income replacement - covered by the STD and LTD policies through work, plus my own LTD policy
- Caregiver - I have no dependents
- Housekeeping and home maintenance - covered by my wife
- Death and Funeral expenses - covered by my life insurance policies

View attachment 64512

Because lots of those are redundant and probably not paid out often? Lot of income, few expenses. Winner.

 

[Relax]

Don't get me started - I found out the hard way that the auto policy's medical coverage doesn't kick in until you exhaust any employer-provided benefits. So I had to drain my work's chiro, massage, acupuncture, and mental wellness coverage leaving nothing for routine needs.

 

[mimico_polak]

And yet again we get fooked with no uproar. No protests, not a single peep from the population.

I’m as guilty of this as anyone, but France would be on fire right now.

 

[timtune]

My prediction: This coverage will shortly become an upsale item.
The standard policy will soon be without the other-driver coverage, but at the same rates as current. OH, you want that coverage? That's at an additional cost.

That's exactly what happened under wynn.

 

[NuggyBuggy]

Nope that is what no fault is about not allowed to sue. It is very clear

Sent from the future

So how come my wife and I are both being sued for a million dollars, by a driver who pulled out from his parking spot on the side of the road, right into my rear quarter panel, AND who settled with me out of his pocket?

Pretty sure you know more than me about insurance, but I am genuinely confused. If you can’t sue, why am I being sued?

 

[GreyGhost]

So how come my wife and I are both being sued for a million dollars, by a driver who pulled out from his parking spot on the side of the road, right into my rear quarter panel, AND who settled with me out of his pocket?

Pretty sure you know more than me about insurance, but I am genuinely confused. If you can’t sue, why am I being sued?

Good question. Ask your lawyer. Anybody can sue for anything at any time. Courts can also award defence costs if the lawsuit had no justification (and if its really bad, law society can step in and smack lawyer that brought the case).

 

[Scuba Steve]

So how come my wife and I are both being sued for a million dollars, by a driver who pulled out from his parking spot on the side of the road, right into my rear quarter panel, AND who settled with me out of his pocket?

Pretty sure you know more than me about insurance, but I am genuinely confused. If you can’t sue, why am I being sued?

Just a guess but possiblity because there was no insurance claim left the door open.

Sent from the future

 

[NuggyBuggy]

Just a guess but possiblity because there was no insurance claim left the door open.

Sent from the future

Interesting, and that seems plausible.

My insurance company's lawyers have told his lawyers that he has no case, but apparently they are still going to proceed to something like discovery which is like 6 months away.

My fear is that the insurance company is just going to give him some money to go away, which would upset me on principle. The guy has admitted fault, and yet he might end up enriched because of it (and even though the agreement he had us both sign indicated neither party could make claims against the other).

At this point, I am thinking of suing him just to make that outcome possibly less likely (would both insurance companies pay to make the other parties go away, who knows).

Well, I wouldn't able to sue him, but I could sue his wife/partner, who owned the car, is also suing me and my wife, and is not a party to the agreement originally signed.

Sorry for taking this discussion off-track.

 

[NuggyBuggy]

Good question. Ask your lawyer. Anybody can sue for anything at any time. Courts can also award defence costs if the lawsuit had no justification (and if its really bad, law society can step in and smack lawyer that brought the case).

Right now, I don't have a lawyer, just the lawyer my insurance company has representing me (as they are also being sued !). Maybe it's time to get one.

Let's see: soft tissue damage, post-traumatic stress, etc. I could use the lawsuit documents served against me as a template.

 

[mimico_polak]

My cousin hit a car from behind a few years back because idiot cousin likes to text and drive to this day. His wife hit a TTC bus for same reason.

Anyway he gets the lawsuit paperwork and is freaking out. I asked him what did insurance say? He didn’t even considering sending it to insurance.

Docs sent, insurance tells him not to worry and it’s all taken care of.

I’m surprised you’re getting personally sued @NuggyBuggy because this is something firmly for the insurer to deal with. Hope it works out.

Another buddy hit a car on the highway at full speed. Lawsuit came on the second last day before it was too late to file. Insurance took the documents and went to town on the couple as they’re known to them. One of their claims was accident now prevents them from having sex.

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