Car Insurance Renewal

[robbiebobbie]

No tickets, no accidents, no changes in insurance for years on 3 cars, none newer than 2010. 18% hike!

Merry Christmas and Happy New Year.

[fishtank]

same here, call multiple agencys and they mention the same up 10%+

[jstubbs]

At least you guys probably haven't been paying too much for the last bunch of years. I'm a young male, early 20s. Squeaky clean driving record in the nearly eight years of having a license, no claims, no speeding tickets, nothing. I was over $2k/year for basic coverage +fire/hail/theft (no collision) on older vehicles finally up until this year where it dropped a good amount but I'm anticipating it to go right back up again.

That's the way she goes when you live in the province with 11.6% of the population but 61% of insurance claims made in Canada.

[32-40win]

All I can say is, this year I paid as much for PLPD as I did 10 yrs ago for the whole 9 yards coverage w/500 deductible.

[hayseed]

Yep ain't it great??

Dropped a deuce on the kitchen floor when I opened mine..

[waldedw]

Well I for one cannot complain, my reweal just came last week, it's due Jan 5, I have 2 vehicles, my side x side and 2 trailers insured and my premium went up a whole $30 which was on the pickup.

The rest of them were the same as they were last year, not sure why but believe me i'm not going to call and ask why, I paid the bill quick before they changed their mind.

It would be interesting to see if there is just a certain demographic age group that is getting the increases ?????? there are only 2 drivers in our house so maybe we get the senior discounts

[Skoaltender]

Same boat, never made a claim, never in a at fault or any tickets.
22% increase for the wife and I.

[fordtruckin]

A necessary evil. We pay for the idiots who frequently use those services.

[thumper]

Originally Posted by fordtruckin

A necessary evil. We pay for the idiots who frequently use those services.

And we pay for insurance companies that settle on fraudulent claims, rather than take scammers to court. And we pay for the justice industry awarding ridiculous amounts because they feel sorry for people who refuse to take responsibility for doing dumb things.

[2011laramie]

Guy at work here says its cause the current govt removed the ndp insurance cap. Ive never looked into the validity of that statement though. My insurance went up a little.

[EZM]

Originally Posted by fordtruckin

A necessary evil. We pay for the idiots who frequently use those services.

YUP - 100% agree - the morons who say "that's what insurance is for" and make claims every time a fly poops on their car, or some thug steals his garbage can should be paying the rate increases ....

[mooseknuckle]

Originally Posted by fordtruckin

A necessary evil. We pay for the idiots who frequently use those services.

And the companies absolute refusal to take a hit in the over $400 billion in profit they made!! if i tried that on my customers...... gonzo.

[Dean2]

Originally Posted by 2011laramie

Guy at work here says its cause the current govt removed the ndp insurance cap. Ive never looked into the validity of that statement though. My insurance went up a little.

Your buddy is.correct about ucp removing the NDP 5% cap on insurance increases. U can bet this won't be the last big bump. House insurance will see it too. Our insurance is still a bunch cheaper than the BC gov version.

[waldedw]

Not that I like insurance, it's something we have to have especially in this day and age when it's always someone else's fault when anything happens.

There is a lot that goes into insurance rates, look at the stats over the last couple years, in 2017 in alberta there about 6,500 vehicles stolen in 2018 that number doubled and over 30% of those were left running with the key's in them, IMO that should void your insurance.

Not that we would ever know but how many of those were just to collect insurance on a vehicle, you know big monthly payments on a truck, no job, can't let the truck go back to the bank as that's bad for the credit rating, but if it's stolen.... insurance pays out and bob's you uncle, no more payment, don't for a minute think that doesn't happen.

The real scary part is how many people are on the road without insurance ????

[bsmitty27]

This is not the guys who abuse insurance. This is ucp taking the 5% cap off insurance premiums.

And if anyone wants to have a conversation about how insurance companies have been hurting in Alberta I'd love to have that talk. I understand brokers dont see all the profits. But were talking actual insurance companies.
Were going to bury small business in this province!

[57charlie]

Renewed my vehicle insurance in March/2019, I was hit with a 22% hike from the previous year, keeping my fingers crossed that come March/2020 I won't see a similar hit to the wallet.

[trophybook]

Imo insurance companies should request photos of entire exterior and interior to show the condition of the said insured vehicle and give discount to mint vehicles aka taken care of. Lots of vehicles I see are all banged up . Don't make a claim nobody knows any different

[JohninAB]

Renewed my insurance last month. Home, car, truck, boat, fifth wheel and quad. Only driver, maybe 4 photo radar tickets past ten years, 3 claims (thefts in 2013 to 2015). My insurance went up approximately 4%.

[nebcfarmer]

This is our pain in BC with ICBC.

Everyone shares the cost of poor drivers. I hate it.

[Big Grey Wolf]

It also does not help that expensive Ford 250's getting stolen and probably sent to Russia in c-can. Part of problem is Big 3 are charging $70,000 MSRP for a $30,000 truck with heated seats.

[bloopbloob]

No accidents in my entire life, no demerits, 17% increase in my payments this year. Insurance keeps going up, even though truck loses value every year. My lowest payments were when I first bought it.... makes no sense

[KGB]

No accidents at fault, no tickets, two mature drivers. Up 30%...

[calgarygringo]

Spent the last 2 years in the insurance biz though done now. Saw and heard a lot of things that have been mentioned. Dont drag on the brokers as they just quote what the insurance company tells them and then they make a commission on the sale and ends there.

There are a ton of factors but the amount of claims is insane. A lot are caused by stupid drivers and are self induced. The biggest cause of accidents now is distracted driving and that is totally preventable. Then the driving too close. Vehicles are also getting super expensive to fix with all the electronics and sensors everywhere now. Even a bumper can cost in the several thousands when hit as well as headlights etc. Hail has hit us hard here too and cost them many millions in claims.

The govt took the cap off but several companies were already making long term plans to leave Alberta which would make it even worse.

Shop around and look for deals as there are a few companies that there claim ratios are better than others so are not in as bad of shape. Also check your coverages very closely if your quote comes in low. I had heard some brokers were cutting corners on coverages just to make quotes look better. Buyer beware.

[Puma]

Me too, no accidents, no tickets, no claims, up 30% with Aviva/RBC through WestJet group plan.About half a page of discounts for this that and the other, 2 trucks, two horse trailers, camper, flat deck trailer, quad, bike.
I called around to price shop, a couple companies said "Oh your a 9 rating or something they wont explain to the common man, we rarely see a rating this good. All companies priced about the same. Some wanted an extra 150 for me to get a vehicle inspection on top of premium.To add insult to the higher prices, you need to pay it in full up front !

On the flip side, UPC govt has been taking so much heat from people over this, they are looking into options to bring the prices down.

[Trochu]

Don't see how this is a government issue.

Anyway, wish the insurance companies would come up with a unified system that based it entirely on history and claims. Not both your neighbors claimed so yours is going up to to help us pay for that. Just boost the neighbors.

[CranePete]

Originally Posted by nebcfarmer

This is our pain in BC with ICBC.

Everyone shares the cost of poor drivers. I hate it.

The insurance on our 2013 Edge actually went down $6.00 this year. I was expecting a big hike to pay for the clowns in the LML. Still hefty at $1760.00 though.

[calgarygringo]

The insurance companies at leat most of them use a scale of 15 which is the number of claim/ accident type free years and the story about it I will leave out. Nothing bad they add a year, have a claim and they minus one. 15 is the max and if you look at your policy it will be listed on it. The better your record on points it will save you money. Your 9 rating is not 15 so I am assuming that you must have something on your record along the way. This will affect your rates unfortunately.
Aviva was one of the worst last year for claims so they were trying to get rid of a lot of business by raising rates, vehicle inspections, no payments etc. hoping you would get ticked off and go elsewhere.
Many companies would rather just shed the business rather than take a chance on a claim. Technically they cannot refuse vehicle insurance so they theory they came up with was make life miserable and maybe they will go elsewhere.

Originally Posted by Puma

Me too, no accidents, no tickets, no claims, up 30% with Aviva/RBC through WestJet group plan.About half a page of discounts for this that and the other, 2 trucks, two horse trailers, camper, flat deck trailer, quad, bike.
I called around to price shop, a couple companies said "Oh your a 9 rating or something they wont explain to the common man, we rarely see a rating this good. All companies priced about the same. Some wanted an extra 150 for me to get a vehicle inspection on top of premium.To add insult to the higher prices, you need to pay it in full up front !

On the flip side, UPC govt has been taking so much heat from people over this, they are looking into options to bring the prices down.

[hogie]

Originally Posted by bsmitty27

This is not the guys who abuse insurance. This is ucp taking the 5% cap off insurance premiums.

And if anyone wants to have a conversation about how insurance companies have been hurting in Alberta I'd love to have that talk. I understand brokers dont see all the profits. But were talking actual insurance companies.
Were going to bury small business in this province!

From what I understand of the NDP policy many insurance companies to left Alberta. This created less competition and means higher rates. Broker's have less companies to deal with.

I do remember when the cap was brought in, insurance companies warned that this would lead to higher rates. Instead of smaller yearly increases there would be a larger increase when cap was gone . Guess the companies were right.

Our school division just had just over 300% increase in premiums. Insurance companies aren't sure how to deal with climate change. Premium went up to cover costs, having to deal with smoke damage in schools isn't something they had to do before. Blaming forest fires and flooding having causing increases. These extra costs would pay for 5 or more full time teachers. More of a cut to their budget than the government is doing.
https://www.google.com/url?sa=t&sour...7Aej-J&ampcf=1

Sorry for the link to CBC.

[calgarygringo]

Also dont forget many companies have been paying out $1.20 to 1.30 in claims for every dollar they take in. Any other business person would tell you to get out of the business with those losses and is why the increases.
Many of the insurance companies are in the stock market and many have them in their investment portfolio and have been losing money in their retirement funds as well.

[brslk]

Originally Posted by calgarygringo

Also dont forget many companies have been paying out $1.20 to 1.30 in claims for every dollar they take in. Any other business person would tell you to get out of the business with those losses and is why the increases.
Many of the insurance companies are in the stock market and many have them in their investment portfolio and have been losing money in their retirement funds as well.

I don't know where you came up with those figures but I can promise you that insurance companies are not and have never lost money in Alberta.
Sure, some years they made a little less than the year before but they always turn a profit.
I can't really think of any other business in Canada that is guaranteed customers because of mandatory insurance and can set their prices as high as they want.