15% across-the-board insurance reduction?
- Thread starter Mongrel
- Start date
Stephen W.
Well-known member
Insurance adjusters have always had the responsibility of identifying fraudulent claims. Problem is, many are too lazy to do their jobs properly.
Case in point, I had an adjuster who threatened me with criminal charges because he believed I was making a fraudulent claim. He was willing to pay out on damage to the front of my car (of which there was none) but not to the side because as he saw it, how could my right rear quarter be damaged when I rear ended another vehicle?
It took me over a week and threats of my own before he actual read the accident report. I didn’t rear end anyone. The other driver lost control, left the roadway, struck a snow bank and spun back into the right rear side of my car with the rear end of their car. However, the adjuster only read the words rear end damage and promptly cut a check to the other drivers insurance company.
When I was finally able to get him to understand he’d made the mistake he asked me to phone the other nsurance company to see if they’d be willing to give back the check. I never heard a person laugh so hard as that other adjuster did when I asked him that question.
Platinum Cycle
Well-known member
Nobody has touched on the "staged accident" problem yet, but yu can thrown that into the mix.
For the guy here who wants a job in SIU, try and figure out who's advocating getting a US address to get a US policy, then figure out who all the people are that are doing this and then notify their insurers that they've committing a material misrepresentation. If you solve that case I'll hire you!
For the guy here who wants a job in SIU, try and figure out who's advocating getting a US address to get a US policy, then figure out who all the people are that are doing this and then notify their insurers that they've committing a material misrepresentation. If you solve that case I'll hire you!
This could very well become a reality -- I'm already doing the pre-work in anticipation of a mandated rate decrease. The stupid thing is that many insurers would have reduced the rates on their own, even without the legislation, but now the Liberals will take credit for it. I've already decreased rates with my employer by 10% in the last year before any talks of the budget. I anticipate that we will need to file for an additional 5% decrease to reach the 15%.
If implemented, this will most likely NOT be an across-the-board decrease . . . some people will see decreases in excess of 15%, while other may see no decrease at all. This is what I'm preparing for.
I haven't heard anything about the legislation affecting motorcycles yet. My guess is that it will only apply to auto insurance.
If implemented, this will most likely NOT be an across-the-board decrease . . . some people will see decreases in excess of 15%, while other may see no decrease at all. This is what I'm preparing for.
I haven't heard anything about the legislation affecting motorcycles yet. My guess is that it will only apply to auto insurance.
:lmao: thanks for the laugh
If you read my post you would see that I've already decreased auto rates by 10% in the last year prior to any political talks due to auto reform savings. Our 10% decrease had nothing to do with the Liberals, but now they're going to try and take credit for it. But you can believe what you want 
If you read my post you would see that I've already decreased auto rates by 10% in the last year prior to any political talks due to auto reform savings. Our 10% decrease had nothing to do with the Liberals, but now they're going to try and take credit for it. But you can believe what you want
I would like to believe you, i honestly would. But year after year ive been getting an insurance increase and ive never had a claim and have a clean driving record, and at the same time my coverage has gone down substantially.
And btw it was the NDP's request, or blackmail
that actually got the ball rolling on this, not the liberals. The liberals right now will do anything to stay afloatI would like to believe you, i honestly would. But year after year ive been getting an insurance increase and ive never had a claim and have a clean driving record, and at the same time my coverage has gone down substantially.
And btw it was the NDP's request, or blackmail
Yeah, I fully expect after I turn 25, I'll never see another decrease. It's ludicrous because really, operating costs (not payout costs) shouldn't be increasing that fast. There has to be some serious crime going on in the background.
I would've loved to join the SIU except I'd first have to endure the intelligence bell-curve of the general police forces.
Roomie
Banned
Yeah we call them ceo's. Insurance companies are unreal. They think this is the 30's still and they're the mobsters who can do what they wish.
Yeah we call them ceo's. Insurance companies are unreal. They think this is the 30's still and they're the mobsters who can do what they wish.
That's actually a good point. Profit is regulated to a max of 12%, but who's to say the company didn't make 16%(or 50%) and take 4(or 38) percentage points of that and distribute it among the higher ups, or even just among the company.
The crying about 'operating at a loss' could well be actually fabricated by making the company books look bad with huge cash sinks (like salaries).
Shenanigans.
I'm curious, why is insurance here so much more than in the states? I brought a bike over from the usa a little over a month ago and was talking to the guy I bought it from. He told me that his insurance was a little over $140/year for the bike. Mine is $120/mnth with a clean record, family, garage, etc. How is it possible that insurance there is actually 1/10 of what it is here?
look into comparable coverage and what you're actually covered for. I've found that to get the same level of coverage, it's not *that* much cheaper than the US. Also, it's a numbers game. We're also 1/10th the population and have just as much land mass. Insurance is one of those things that you hate to pay, some call it a necessary evil, but if the day ever comes when you have to make a claim, you'll be glad you had all the coverage you did. No one (when happy and healthy) ever fore see's what can happen in their future but when bad times come, I have yet to meet a person to say they regretted having insurance.
Check out the approved rate changes in 2012 and 2013 . . . I see a lot of decreases, and not many increases. My personal auto rate has decreased nearly 10% in the last couple of years.
https://www.fsco.gov.on.ca/en/auto/rates/Pages/default.aspx
If you read my post you would see that I've already decreased auto rates by 10% in the last year prior to any political talks due to auto reform savings. Our 10% decrease had nothing to do with the Liberals, but now they're going to try and take credit for it. But you can believe what you want
I just got my bill for my policy. A nice $70/mth increase. I've been with statefarm for 9yrs and no tickets. Good job Statefarm, I'm moving to Allstate
Short term thinking. It also costs the tow truck scammer more than they make to fight the case. Once they have to fight for the money and lose they will stop the fraud. It is always easier to give in to blackmail, threats and fraud in the short term.
BTW Don't we pay taxes to hire police to investigate this stuff? Oh I forgot. The politicians want the cops to hand out revenue tickets instead of fighting crime. They don't make money fighting crime.
