What details did I leave out? It certainly wasn't age. I would think that most could figure out that a $200K car "should" cost far more to insure than a $1K used motorcycle, even if I am accident-free for 50+ years and that does not mean that someone cannot run into me writing it off.
First of all, in Ontario Accident Benefits should be tied to your Driver's Licence based on your highest risk vehicle and not to every single one of your vehicles. Accident Benefits is roughly half (give or take) of your premiums per vehicle owned. But the insurance industry would hate that...less money in it for them.
Exactly why I have no use for banks and insurance companies. BTW, as far as reading comprehension, I am not a "party member", so I have no idea where you got that from.
The value of the vehicle has about the least influence on insurance rates for a mature driver - the premium difference between a $10 K and $200K are are peanuts -- with the primary exception being the theft profile of the vehicle. Even that is only a heavy premium on frequently stolen cars registered in the GTA as that's where most cars get stolen. Thieves rarely go to Podunk On to steal cars.
The value of the vehicle has about the least influence on insurance rates for a mature driver - the premium difference between a $10 K and $200K are are peanuts -- with the primary exception being the theft profile of the vehicle.
Sometimes. If I bought a Corvette in my area, insurance would have been 3.5X as much as it was for the Porsche, yet I can buy two Vettes for the same money. As the insurance company put it, we have practically no claims if you drive a Porsche (big surprise to me at the time), claims are far higher for the Vette although the majority of drivers are the same age.
As for theft, I am armed, I do not miss and I take no prisoners!
For fun I had CAA quote a 2015 GTS-4 and a 2024 Corvette using my GTA and Podunk ON, and my US address.
8000km/year, 1000 deductibles for collision and comp, bundled with home policy. 40+ years of clean driving no accidents, no tickets in the last 3.
For fun I had CAA quote a 2015 GTS-4 and a 2024 Corvette using my GTA and Podunk ON, and my US address.
8000km/year, 1000 deductibles for collision and comp, bundled with home policy. 40+ years of clean driving no accidents, no tickets in the last 3.
Basically, it's equivalent accident benefits, collision and comp. Liability is treated differently there, I have a $2m blanket liability - it covers home, auto, marine -- just about everything not aero.
Cant do a 100% comparison, but the cost/benefit of an accident are very close.
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