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.
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.
Companies do not car about cars. They care about people.
The cost between a written off Porche and Vette is negligible in the grand scheme of things. Having to pay for someone that needs 24 hour care for 20 years is expensive.
Companies do not care about cars. They care about people.
The cost between a written off Porche and Vette is negligible in the grand scheme of things. Having to pay for someone that needs 24 hour care for 20 years is expensive.
Hate to break it to you, insurance companies care about profits and share holders. That is why I gave it a thumbs up when Brian Thompson of United Healthcare was shot. Sorry, but I have no mercy for a company denying 34% of claims so that the dumb fu*k can earn a $10M a year salary.
And there is a difference between my $184K Porsche (and that was the used price) and a new Vette at say $90K that they would have to pay out. There is a 90K difference that would cover about 45 days in a hospital bed.
Your health care example is ultra rare and insurance companies cut corners or wear you out in court. Reminds me of the movie The Rainmaker with Matt Damon or Erin Brockovitch with Julia Roberts.
And manufacturers, in this case motorcycle manufacturers shoot themselves in the foot when all the bodywork is easily 1/3 the price or more of the MSRP of the motorcycle.
No wonder insurance is high, even in cases where there is no bodily injury.
Companies do not car about cars. They care about people.
The cost between a written off Porche and Vette is negligible in the grand scheme of things. Having to pay for someone that needs 24 hour care for 20 years is expensive.
Insurance companies don`t give a flying fook about people. Maybe in a `60`s Allstate commercial world...possibly. Any angle to give you the horn, they will. It`s always about the money.
And manufacturers, in this case motorcycle manufacturers shoot themselves in the foot when all the bodywork is easily 1/3 the price or more of the MSRP of the motorcycle.
No wonder insurance is high, even in cases where there is no bodily injury.
Motorcycle insurance premiums are an anomaly in Canada as they are about the only premiums that are not rationalized by actual motorcycle and rider data - the industry uses stats of car drivers for the age experience data, and arbitrarily classes bikes into categories and displacement for the vehicle portion.
This creates a situation where a 30 year old clean rider with a 14 years of riding with a licence will pay as much as 2x over his 50 year old father who got his M2 yesterday.
This creates a situation where a 30 year old clean rider with a 14 years of riding with a licence will pay as much as 2x over his 50 year old father who got his M2 yesterday.
That was a long time ago but when I had my Suzuki RG 500 Gamma I was under 30 and my rates were actually very low. As for those old farts who just got their licence the other day, their rates are high simply because they have a high chance of being in an accident.
Insurance companies don`t give a flying fook about people. Maybe in a `60`s Allstate commercial world...possibly. Any angle to give you the horn, they will. It`s always about the money.
You misunderstand.
They do not care about you or me. They care about what it costs to keep you alive after a life altering incident.
Your car is a blip on the scale, whether it is a Porche or a Lada when it comes to paying out over 50 years of care.
That was a long time ago but when I had my Suzuki RG 500 Gamma I was under 30 and my rates were actually very low. As for those old farts who just got their licence the other day, their rates are high simply because they have a high chance of being in an accident.
Thing is those old farts that got their M2 licence yesterday will pay a fraction of what a 30 year old with to clean riding years.
Insurance companies don’t invest time into motorcycles in Canada many don’t offer it, those who do, only because it’s a necessary evil to keep customers with home and auto policies
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