moving and insurance rates???

LiNK666

Well-known member
So let's say I live in scarberia and my renewal is up... 2 months later I move to Oakville... will my rates be updated when I move or am I locked in for the year? How long before I get locked in?

This is facility insurance... not standard insurers. Thx.
 
So let's say I live in scarberia and my renewal is up... 2 months later I move to Oakville... will my rates be updated when I move or am I locked in for the year? How long before I get locked in?

This is facility insurance... not standard insurers. Thx.

When you move, the rate change should take effect immediately. Scarborough is a bad claims experience area . . . you can pretty much only get a better rate by moving away from there.
 
When you move, the rate change should take effect immediately. Scarborough is a bad claims experience area . . . you can pretty much only get a better rate by moving away from there.

Yeah... problem is that I need insurance now but can't move for another 3 months.
 
Yeah... problem is that I need insurance now but can't move for another 3 months.

Talk to your broker/agent -- if you are moving in just 3MO, they might just rate you at the new address now rather than doing a mid-term policy change later.
 
Talk to your broker/agent -- if you are moving in just 3MO, they might just rate you at the new address now rather than doing a mid-term policy change later.

I thought they weren't allowed to do a policy change after 90 days? I thought your rates were locked in after 90 days for the duration of the year.
 
I thought they weren't allowed to do a policy change after 90 days? I thought your rates were locked in after 90 days for the duration of the year.

No -- they can change your rate if there is a material change in your risk (such as moving, changing cars, etc.). They won't increase your rate until renewal if you get a conviction or an at-fault on your record though.
 
I thought they weren't allowed to do a policy change after 90 days? I thought your rates were locked in after 90 days for the duration of the year.

When my fiancee was moving around for work I updated her address 3 times in 3 months with the insurance company and the rates changed accordingly.
 
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