Which makes figuring out why some people defend insurance premiums climbing ever higher (e.g. the coming Spring Surprise) even harder...
23% better ...where's the rate break....???
- Thread starter MacDoc
- Start date
That's crazy, hedo2002. Thanks for sharing. Who's paying your lawyer all this time?
Lawyer gets a cut of any settlement, if the insurer just pays for the treatment then the lawyer gets nothing from the "treatment pool" but gets their cut from the lawsuit portion. This is how most injury lawyers work, which obviously means the more they get in the lawsuit. generally it ranges from 33 - 40% so for a $200,000 settlement the lawyers get $66,000 - $80,000.
I am with TD, Although got a letter 2 weeks ago the current "division" of TD will no longer be offering auto insurance in Ontario, therefore, I am being transferred to another "division". Lawyer says won't affect the lawsuits, but I am waiting to see what the renewal rate will be, because it is essentially a new company, they may pull a Desjardins/SF move and implement huge increases.
They did comply with the governments order. The devil is in the fine print ... people thought that everyone will see a reduction, while the government was talking across the board per insurance company. The same joke as emissions ... per fleet of vehicles, right?
So, most people living out of city or GTA got their reductions, while people living in, got probably increase or stayed flat at best.
The next election should be about car vehicle insurance overhaul, forget silly things like economy or gas plat scandal. The Ontario insurance boondoggle saps more money and energy of every single tax payer than the whole economy "problem" they like to talk about so much.
Dresden
Well-known member
Thanks for the insight. Never knew this before, but it makes sense...
You should pay it gladly because that is capitalism at work. Or are you communist?
I'm afraid to open my envelope.
dieselxx
Well-known member
I had the same problem with insurance this year. My bike insurance will go up in February from 69$ a month to 90$ . My 2010 camry went up, my 2014 focus ST went up. Sigh. Funny thing is my camry insurance costs more than the ST. Despite the ST being a rare and hooligan car. It's criminal.
Been seeing a lot of that lately. Kinda scared to get mine. Like... can it really increase when im going from 1st year to 2nd? ugh dont wanna waste time calling brokers all over
TorontoBoy
Well-known member
Have no customer loyalty to any insurance company, as they do not reward loyalty. This is their marketing strategy, emphasizing new customers over existing ones. If there is even a possibility of lower rates, call their competition. Insurance is easy to switch and there is little switching cost. FYI my small cruiser's insurance decreased by 10%, due to switching companies.
Biggest scam currently running in this country is Ontario's (compulsory) Automobile Insurance Act... It is something you'd expect to see in third world countries that are run with 0 transparency and high corruption (cooking books, hiding profits...) It's a disgrace... Liberal, PC it doesn't matter at all, they are all in it.
Insurance (Financial) industry is making absurd amounts of money on it, and connections run deep... It will go on as long as we (sheep) pee and moan, and do nothing about it.
Heck, just look at Uber issue - politicians came up with resolution: charge drivers 10x insurance... What a joke! Small guys lose all the way around, fat cat insurance gets more money.
Yes, I'm mad about Ontario Insurance Act. I know I'm not alone, but there's no association fighting for justice here. CAA joined the racket, nothing to expect from that outfit. We need a voice, and not random sheep bleating kind of noise we are making now.
One more thing - in regards to this board - anyone profiting from insurance should declare so at the top of every post they write on the issue (you know who you are
)
Insurance (Financial) industry is making absurd amounts of money on it, and connections run deep... It will go on as long as we (sheep) pee and moan, and do nothing about it.
Heck, just look at Uber issue - politicians came up with resolution: charge drivers 10x insurance... What a joke! Small guys lose all the way around, fat cat insurance gets more money.
Yes, I'm mad about Ontario Insurance Act. I know I'm not alone, but there's no association fighting for justice here. CAA joined the racket, nothing to expect from that outfit. We need a voice, and not random sheep bleating kind of noise we are making now.
One more thing - in regards to this board - anyone profiting from insurance should declare so at the top of every post they write on the issue (you know who you are
)This is a good point. Riders were facing a similar problem in the UK about 25 years ago.
There was collusion between the various motorcycling bodies like the British Motorcycling Federation, the FCA (The equivalent of FSCO), the government and the insurance companies.
I can certainly draw parallels with Ontario insurance today with the Liberals, FSCO and the insurance companies. I don't think bodies like the CMA are in collusion, but they are just useless. Seems more like an old boys club where they just show up to eat pizza and drink beer.
A number of grass roots, motorcycling activists in the UK got together and formed the Motorcycle Action Group http://www.mag-uk.org/ in order to represent motorcyclists, not big business or government. They lobbied directly with the government, in both Westminster and Brussels for motorcyclists rights from Insurance, to Off Road access, to fighting draconian laws such as mandatory "leg protectors" and were very successful.
It actually led to a revamp of the motorcycle insurance industry in the UK and the rise of specialist motorcycle insurance companies like Carole Nash that represent only bikers, and do not subsidize motorists, home owners or business.
Until we do that here we will not get anywhere. I tried generate some interest in a similar body for Canada about 5 years ago and literally about 6 people expressed interest. What's happening now is our own fault.
Realistically to get a movement going you need enough people to back it up. Percentage of people with a motorcycle and using it actively is very low in Ontario compared to the UK. When you have a higher percentage of people who have a motorcycle as their main/only means of transportation, now you'll start reaching more people..but with the climate we have (aka Winter) i doubt that many people are in this situation.
Even out of the 6 people who expressed interest, most likely only 2 people wouldve done anything about it... organizing and mobilizing for causes like this, usually has that kind of turnout. Speaking from personal experience
According to Stats Can, there were 213,283 motorcycles and mopeds registered in Ontario in 2014.
That figure alone might be enough to warrant a politically-active advocacy/lobbying group to apply some pressure to political parties to reform insurance for motorcyclists. I know not every motorcycle registration equates to one vote but the figures might be close if a household with a bike(s) has more than one voter. In the Ontario election of 2014 the difference in popular vote between Libs and Cons was ~350,000. With today's close elections 200,000+ votes could swing an election.
The Ontario Federation of Agriculture (OFA) represents "only" 37,000 farming families across Ontario and has considerable lobbying power. A group representing the interests of motorcyclists with nearly 3x that number would be a political power, of sorts.
The keys would be for everyone with a motorcycle and moped registered in the province to get their **** together and join such a group and for proper leadership to take the reins and get **** done at Queen's Park.
That figure alone might be enough to warrant a politically-active advocacy/lobbying group to apply some pressure to political parties to reform insurance for motorcyclists. I know not every motorcycle registration equates to one vote but the figures might be close if a household with a bike(s) has more than one voter. In the Ontario election of 2014 the difference in popular vote between Libs and Cons was ~350,000. With today's close elections 200,000+ votes could swing an election.
The Ontario Federation of Agriculture (OFA) represents "only" 37,000 farming families across Ontario and has considerable lobbying power. A group representing the interests of motorcyclists with nearly 3x that number would be a political power, of sorts.
The keys would be for everyone with a motorcycle and moped registered in the province to get their **** together and join such a group and for proper leadership to take the reins and get **** done at Queen's Park.
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Riceburner
Well-known member
My bike ins. went up. Seems there were more claims against my model.....even though it hasn't been produced since 2007.
